Paraman666
Short

BTC - bears should take a control once again

BINANCE:BTCUSDT   Bitcoin / TetherUS
Predicting future of bitcoin price is once again pretty complicated - when I look at chart of BTC , it´s super bearish , we are probably in final phase of WXYXZ correction, we are still moving 3 waves up - 3 waves down, moving in channel, so just typical things in corrections, so dominant trend (DOWNTREND) should sooner or later continue. There is also bearish divergence on RSI .
HOWEVER, we are still in environment full of FEAR and I doubt, that the most retail traders are all in BTC , I would guess, that the most people are in fiat,tether and waiting for lower prices or some bullish confirmation. And that´s on the other hand very bullish for BTC price. Also volume is very high on the most exchanges and maybe the accumulation phase is over and we are going to the moon, although chart is telling me the opposite.
But overall, I think bearish scenario is much more probable and we should be heading below previous low at 3700. But first, we should finish that last leg to the upside, probably towards 7500, so probably too early to SHORT right now.

Comments

going downward is inevitable after completing our uptrend and I believe the price decline even more deep than last downward and I expect it around 3000$ :)
+1 Reply
Paraman666 bestfarbit74
@bestfarbit74, Low from December 2018 must hold and I think it will hold, if not, then probably all eliott wave traders misinterpreted this gigantic move to the upside from 3k to 14k.
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bestfarbit74 Paraman666
@Paraman666, I'm not shore yet. but better wait to see what happen
Reply
Welcome back ;)
+1 Reply
Paraman666 dallasdjud
@dallasdjud, Díky ;)
Reply
Good Vision, i agree
+1 Reply
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