I've explained in details, about BTC price at 17700 and the AB=CD pattern that happened earlier on BTC.. So I suggest you to read it on the link bellow ( related ideas ) before reading this..
So, If you read that idea, let's begin..
As you can see, I'm doing this analysis on a DAILY chart. We are at the BC projection point the D location.. Now we have 2 scenarios ahead.. Bullish Scenario that I've shown you in the chart with the GREEN ARROW and the Bearish Scenario that you can see it as the RED ARROW..
Bearish Scenario happens when the AB=CD harmonic pattern is completed on the 1 Fibonacci level on 17700. We call that are the PRZ and the price correction will start..
But also we can see the Bullish Scenario, when ABCD harmonic pattern is not completed, the we're gonna have an Extended ABCD pattern. In this scenario we should see the BTC price moving to the 1.272 Fib around the 20,000 that there will be a strong psychological resistance level or maybe higher to the 1.618 Fib around the 22,700..
In this idea, I want to talk about the Bearish Scenario. Let's talk about the bullish scenario in another idea when we see the ABCD extended pattern..
Let's look at the price action at the PRZ are on the 1 Fib.. On November 17, we have a healthy and strong candle that reaches the target but it has closed exactly below the line. Next on November 18, we can see an indecision candle the can tell as the market taking the breaks. Both of these signs are good signs that show us the PRZ is doing just fine and it's showing the BTC a good resistance. On today's candle the November 19, it is also another indecision candle as I'm writing this idea we have 13 hours to close it, so we still can't hold on to the information this candle is giving to us. Buy if todays candle closes as and indecision candle we will be more confident about the PRZ and the bearish scenario..
Now that we've analyzed the Price action on the PRZ, Let's see where the price will go after the correction has started..
I've shown you 3 targets with FLAG signs on the charts that are our possible support lines for end of BTC big correction..
FLAG number 1: The downward line in the blue channel is a good support line for BTC to turn it's movement around, of course we will see some ups and downs but this is our first target for BTC to going to bullish move again and breaks the 20,000 price!!!!
FLAG number 2: If BTC breaks the channel downwards, the red area between 11550 - 12500 is going to be an great area of support, I believe this area of support has shown us in the pas that it is the strongest one, so take it seriously..
FLAG number 3: I've told you FLAG number 2 is the strongest one, so what is the third target?!?!?!?!
I've managed another scenario for when we've reached the second target, it is possible for Market Makers to step in.. they can sell their BTC to take down the price to make you believe there is no bullish move for BTC, there is no going back to the price 20,000.. Trust me, if you see FLAG number 3 DO NOT PANIC, stay relax.. After the Market Makers took profit from emotional traders, the 10,000 - 10,500 will do it's extraordinary job and the price will turn around and will go to the moon.. :)
So for our conclusion, I'm gonna tell about how I will be trading in this bearish scenario. So you can decide how you want to do yours..
I've shown you three possible targets on the chart.. I will start buying and holding at the first target to the third.. at each target I will look closely to the price action to see how the market is reacting. But it's obvious, I will keep some money for the next target to buy more in lower price..
Don't worry I will post further ideas when we reach at each target related to this idea to let you now how the market is reacting.. so we all together in the community can enjoy the market together.. so follow my profile to let me keep you posted.. :)
IMPORTANT: I will not sell my BTCs buying at these levels, unless I see huge historical prices..
This is my idea.. What do you think..
So, If you read that idea, let's begin..
As you can see, I'm doing this analysis on a DAILY chart. We are at the BC projection point the D location.. Now we have 2 scenarios ahead.. Bullish Scenario that I've shown you in the chart with the GREEN ARROW and the Bearish Scenario that you can see it as the RED ARROW..
Bearish Scenario happens when the AB=CD harmonic pattern is completed on the 1 Fibonacci level on 17700. We call that are the PRZ and the price correction will start..
But also we can see the Bullish Scenario, when ABCD harmonic pattern is not completed, the we're gonna have an Extended ABCD pattern. In this scenario we should see the BTC price moving to the 1.272 Fib around the 20,000 that there will be a strong psychological resistance level or maybe higher to the 1.618 Fib around the 22,700..
In this idea, I want to talk about the Bearish Scenario. Let's talk about the bullish scenario in another idea when we see the ABCD extended pattern..
Let's look at the price action at the PRZ are on the 1 Fib.. On November 17, we have a healthy and strong candle that reaches the target but it has closed exactly below the line. Next on November 18, we can see an indecision candle the can tell as the market taking the breaks. Both of these signs are good signs that show us the PRZ is doing just fine and it's showing the BTC a good resistance. On today's candle the November 19, it is also another indecision candle as I'm writing this idea we have 13 hours to close it, so we still can't hold on to the information this candle is giving to us. Buy if todays candle closes as and indecision candle we will be more confident about the PRZ and the bearish scenario..
Now that we've analyzed the Price action on the PRZ, Let's see where the price will go after the correction has started..
I've shown you 3 targets with FLAG signs on the charts that are our possible support lines for end of BTC big correction..
FLAG number 1: The downward line in the blue channel is a good support line for BTC to turn it's movement around, of course we will see some ups and downs but this is our first target for BTC to going to bullish move again and breaks the 20,000 price!!!!
FLAG number 2: If BTC breaks the channel downwards, the red area between 11550 - 12500 is going to be an great area of support, I believe this area of support has shown us in the pas that it is the strongest one, so take it seriously..
FLAG number 3: I've told you FLAG number 2 is the strongest one, so what is the third target?!?!?!?!
I've managed another scenario for when we've reached the second target, it is possible for Market Makers to step in.. they can sell their BTC to take down the price to make you believe there is no bullish move for BTC, there is no going back to the price 20,000.. Trust me, if you see FLAG number 3 DO NOT PANIC, stay relax.. After the Market Makers took profit from emotional traders, the 10,000 - 10,500 will do it's extraordinary job and the price will turn around and will go to the moon.. :)
So for our conclusion, I'm gonna tell about how I will be trading in this bearish scenario. So you can decide how you want to do yours..
I've shown you three possible targets on the chart.. I will start buying and holding at the first target to the third.. at each target I will look closely to the price action to see how the market is reacting. But it's obvious, I will keep some money for the next target to buy more in lower price..
Don't worry I will post further ideas when we reach at each target related to this idea to let you now how the market is reacting.. so we all together in the community can enjoy the market together.. so follow my profile to let me keep you posted.. :)
IMPORTANT: I will not sell my BTCs buying at these levels, unless I see huge historical prices..
This is my idea.. What do you think..
Comment:
A candle on November 20, breaks the 1 Fib level sharply and it was closed above that level.. So I believe BTC is going to 1.272 Fib, the next level in coming days.. let's see how the market reacts..
Comment:
Daily candles have responded to the 1 Fib level so nicely, so I Think we will see the historic price 20,000 on 1.272 in coming days..
Stay tuned..
Stay tuned..
Trade active:
1. BTC Dominance is recovering.
2. Three different Harmonic patterns on three different waves are approving price around 19800 - 19900.
3. There is a huge psychological resistance on 20,000.
4. Fear & Greed Index is extremely high.
5. Waiting for Whales to step in.
These are 5 reasons that make me put my take-profit price around area 19800 - 19900, I don't want to take more risks, no matter what happens next.
2. Three different Harmonic patterns on three different waves are approving price around 19800 - 19900.
3. There is a huge psychological resistance on 20,000.
4. Fear & Greed Index is extremely high.
5. Waiting for Whales to step in.
These are 5 reasons that make me put my take-profit price around area 19800 - 19900, I don't want to take more risks, no matter what happens next.
Comment:
Until we're above 17700 - 17800, BTC is on the Bullish scenario!!!
Trade active:
19863 Bitcoin has hit new ALL TIME HIGH!!!
Congratulations..
Congratulations..
