GreaterNinja
Short

BTC/USDT 4 hour crash cycle TP1: $3423 200 EMA

POLONIEX:BTCUSDT   Bitcoin / Tether USD
Pretty sure its gonna crash through cloud on 4 hour.
We will likely see price fall out of cloud and crash to 200 EMA , or price goto the very edge of cloud and then push back up.

In my mind, I think we will see it crash the cloud within hours to days in order to have a healthy correction.

I think it will hit 200 EMA , bounce, then drop back toward 200 EMA and perhaps go below. Expect price to "orbit" around 200 ema ~$3423, meaning it will go up, come back down, fall below, and then come back up...Then we see if BTC/USDT pushes for a new ATH .

I am publishing this idea as I am very confident this will occur soon.

Please note btc/usdt can fall far below the 200 EMA , I would not place any buys above 200 EMA .
Comment: Btc/usdt touched support and bounced on 4h, otoh it also needs to break past previous resistances to reach new highs. will it?
Trade closed: target reached: Target hit and price went a bit below $3000, but my timing was way off. I am closing this trade. Noting that Bitcoin has huge financial support and it can be very hard to time significant corrections. Also noting that its possible we can see another dip to $2750-$3k before a push toward 6k. My trades in btc/usd are neutral/flat.
Nice analysis
I agree that a good correction is required in order to see a new high. Just a matter of time ... Patience is the key :)
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maybe.. but I think just correction on 3600-3700 for now.. like previuos one.. later maybe lower
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