kitkat16

BTC correction to $5750 before continuing bull run to $9/$10K

BINANCE:BTCUSDT   Bitcoin / TetherUS
What a run. Hopefully you've made some serious money here by having the balls to buy the dip when most of the world was screaming 'bitcoin is dead' for the 100th time.
Anyway, looks like we've finished 5 waves up of the major 3rd wave. Time now to correct pretty deeply.
Given the move up was a parabolic advance, it means the correction will be fierce too. At least 61.8%, probably more like 78.6% fib retracement.
I will be buying from $5750 to $5250. I dunno if we'll get all the way to 5250 but it's always good to have stink bids from $5250 to $5k.
I will also be buying ETH at $200-215. ETH has had a nice pump, but still hasn't had it's parabola like BTC .
I think this Parabola may begin while BTC is completing this larger wave 4.
Targeting $375-425 on ETH for a 100-125% gain. I will post an ETH chart this weekend too.
Anyway, be patient and remember, capital preservation is the most important skill/discipline you can learn. You don't want to be caught holding a bag when things start going south. So be patient and think of the long term.
Trade active: looks like we may have completed a falt correction for wave 4 of this current wave and already reached 9K.
Question now is whether or not we have larger correction to 6/7ks or there is one last leg up here to 10K. Right now it looks like we won't get below 6K.
Regardless, stay patient and wait for the retracement. Could take a week or two from here, but your discipline will be rewarded.

Comments

Nice analysis. Im seeing a similar thing
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