Bitcoin - Last crash before a pump! (must see)
- The price of bitcoin is currently near the 0.618 FIB. Usually it acts as a magnet when the price is near this very strong level.
- The market moves in waves, and wave A should end exactly at the 0.618 FIB. After we reach this level, we are going to go up to retest the previous major trendline because we have a huge unfilled gap and an untested pattern. After that, we are going to go down again to 17600 - 17400 to fill the previous GAP and complete the ABC correction.
- I recommend you buy Bitcoin at these levels with a profit target of 30k+. I will make an update and you will know exactly when to sell, so make sure you follow me and also hit the like button right now if you want more updates on BTC!
- There is a pretty good chance to visit the 10k level; if you haven't seen my previous analysis, make sure to check it out in the related section down below!
- On the chart, you can see the most likely scenario for Bitcoin. Let me know in the comment section: what is your plan? I want to know your opinion, and I will answer your comment!
- The price action on Bitcoin is very well readable. The structure is well-made at this point. Make sure you also have a bearish and a bullish scenario on the table.
- 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.
- Thank you, and I wish you fun during your trades!
Comment:
We retested the trendline. This is the B wave, and the good news is that it's happening pretty fast. I am still waiting for BTC to drop even more, below 20k.
Comment:
We have an unfilled GAP + 0.618 FIB of the wave A. Wave B could end at these levels, or sometimes a retest of the yellow trendline is enough.
Comment:
We have an unfilled GAP on CME futures between 20330 and 21110. This unfilled gap is huge! The chance of going back is extremely high. We could go back sooner or later this year.
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Thanks for liking this idea, I appreciate it!
Comment:
It looks like this pump is over; now we are going to go down, maybe fill the CME gap. It's better to fill it now than in a few months.
Comment:
This Elliott Wave count on the 1h chart looks completed. A lot of people in the comment section got totally rekt, you can spot it easily, so make sure you always have bullish and bearish scenarios, like I always do!
Comment:
The yellow line is a strong resistance; it's a good idea to open a short here because the uptrend on the 1h chart is very overbought.
Comment:
If you shorted the yellow resistance, it was a good intraday trade with a RRR of 1:3 or 1:4. 2% quick scalp. Now the resistance is broken and we are in wave C / 3. I will do new analysis on this new Elliott Wave count, so stay tuned!
Comment:
So this is a new Elliott Wave count that is currently valid. We should do some pullback as wave 2.
Comment:
if you want to buy the DIP and speculate on higher prices (27k, 30k...) then check out this important level - POC of the expanding triangle!
Comment:
Bitcoin is going to hit 30k in the near future. 30k is a strong resistance and it's a good level to take profit. Why?
Comment:
I got a lot of messages regarding where to buy Bitcoin. 22897 is a POC of the triangle, and there is a big chance of going back to this level. So you want to buy here, target slightly below 30k.
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April is by far the most bullish month on Bitcoin, so the chances of it going up are high!
Comment:
If we take a look at the daily chart of GBTC (GrayScale Bitcoin Trust), we can spot an inverse head and shoulders pattern.
Comment:
I am waiting for BTC to reach 22898 so I can buy it with a profit target of 29875.
