Bitcoin Fifth Elliot Wave- 2 Major Trendlines- Price prediction
Hello,
In my previous Idea, I said that the wave 4 might bounce to around 8400-8500.
This is an idea that is becoming more and more obvious. I was very active yesterday trying to stop people from fomoing from that american market candle. It was kind of obvious that it was a bulltrap, why ?
- Massive green candle at 14:30 GMT that was heavily coordinated in less than 4 minutes when the american markets opened
- Big and smart money did not enter as the volume stayed very low. ( traders are waiting Elliot 5 wave )
- FUD is far from over fundamentally speaking
I have drawn 2 major trend lines, the local downtrend, the upper trend from 2014 and the Fibonacci levels.
Now, we might bounce back at 8000 as it's a very good support, but if Elliot wave holds, we're going to drop to 7200, and if the fifth wave is extended we should drop to the 6450 area where both trend lines meet with the Fibonacci level. You can bet your ass that at this price, everyone will buy BTC, and the uptrend will resume.
So any talk about 2000-4000 is nonsense to me, and I still strongly believe that after the g20 summit, we will uptrend.
In my previous Idea, I said that the wave 4 might bounce to around 8400-8500.
This is an idea that is becoming more and more obvious. I was very active yesterday trying to stop people from fomoing from that american market candle. It was kind of obvious that it was a bulltrap, why ?
- Massive green candle at 14:30 GMT that was heavily coordinated in less than 4 minutes when the american markets opened
- Big and smart money did not enter as the volume stayed very low. ( traders are waiting Elliot 5 wave )
- FUD is far from over fundamentally speaking
I have drawn 2 major trend lines, the local downtrend, the upper trend from 2014 and the Fibonacci levels.
Now, we might bounce back at 8000 as it's a very good support, but if Elliot wave holds, we're going to drop to 7200, and if the fifth wave is extended we should drop to the 6450 area where both trend lines meet with the Fibonacci level. You can bet your ass that at this price, everyone will buy BTC, and the uptrend will resume.
So any talk about 2000-4000 is nonsense to me, and I still strongly believe that after the g20 summit, we will uptrend.
Comment:
Elliot wave 5 not extended, bounced at 7200. Very good sign for BTC, let's wait and see more before we draw any conclusion
Comment:
Bare in mind that I don't know what Bitcoin will do next yet. Waiting for more data. Is the correction over ? That is my opinion, but that is not a fact. I need to stay objective and look at the price action without including my subjective opinion, so for now I remain neutral and wait for more signals.
But our Elliot wave bounced as a wave A correction which is expected. A small pull back for an A-B-C pattern now. After that, I don't know yet. Let's see
But our Elliot wave bounced as a wave A correction which is expected. A small pull back for an A-B-C pattern now. After that, I don't know yet. Let's see