Bitcoin - Buy exactly here for the long term! (premium solution)
Bitcoin is ready to go higher, but this uptrend is starting to be a little bit extended, and we need a correction to 21k. I have been warning you for a long time about a huge crash that is going to happen soon or later. We still have an unfilled CME GAP, and exactly in the GAP we have the 0.618 LOG FIB retracement (15476->33000), which is a good confluence to buy Bitcoin for the long-term and ride your position to a new all-time high!
It looks like Bitcoin is going to reach levels around 32k - 33k. I do not expect the last wave to be huge because of the previous waves (1) and (2). We can use the Fibonacci extension tool to measure the expected length of the last wave.
Buying Bitcoin at the current or higher price for the long term is not worth it because you can definitely buy it cheaper at 21k later this year.
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The pitchfork that you can see on the chart is still holding, which is, of course, a good sign for the bulls. But in the event of a breakdown of this pattern, you should be very cautious. I think it's going to trigger a massive selloff.
If we take a look back to the bear market in 2021 - 2022, we can see a five-wave structure, which is pretty much undeniable. It can be a triple zigzag or an impulse. My outlook on this idea is bullish, so I marked it as a triple ZigZag. It's probably a complex correction because the last fifth wave looks like an ABC zigzag wave.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
Above the 32399 level is a high liquidity area, so there is a pretty good chance that the market wants to take all stop-loss orders from traders before the huge ABC correction happens!
The 25k level has already been tested, so if you want to still buy here, it's probably not a good idea. Maybe for a short-term bounce, it could be.
Thank you, and for more ideas, hit "Like" and "Follow"!
It looks like Bitcoin is going to reach levels around 32k - 33k. I do not expect the last wave to be huge because of the previous waves (1) and (2). We can use the Fibonacci extension tool to measure the expected length of the last wave.
Buying Bitcoin at the current or higher price for the long term is not worth it because you can definitely buy it cheaper at 21k later this year.
Set up notifications for my ideas so you will be alerted in your email when I publish new analyses immediately!
The pitchfork that you can see on the chart is still holding, which is, of course, a good sign for the bulls. But in the event of a breakdown of this pattern, you should be very cautious. I think it's going to trigger a massive selloff.
If we take a look back to the bear market in 2021 - 2022, we can see a five-wave structure, which is pretty much undeniable. It can be a triple zigzag or an impulse. My outlook on this idea is bullish, so I marked it as a triple ZigZag. It's probably a complex correction because the last fifth wave looks like an ABC zigzag wave.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
Above the 32399 level is a high liquidity area, so there is a pretty good chance that the market wants to take all stop-loss orders from traders before the huge ABC correction happens!
The 25k level has already been tested, so if you want to still buy here, it's probably not a good idea. Maybe for a short-term bounce, it could be.
Thank you, and for more ideas, hit "Like" and "Follow"!
Comment:
What could be the cause of the crash? The FED pivots at the next FOMC meeting scheduled for Wednesday, June 14.
