weslad

Bitcoin still in wave 5 or a Cycle already completed

BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello guys, this is dual view type of analysis where I focus much on wave count and potential Bullish BAt formation.

Presently looking towards Two Scenario, either we have already completed a wave cycle on the impulsive side or we are still on the run for last leg of the cycle which give us wave 5.

Now let break them down so as to know the specific action to take.

Right now price is trapped inside a flag like structure which ranges between 9000$ and 12000$.

By virtue of this range a break above or below any of the range pave way for next direction.

If price break above 12k that signal and will trigger a Bullish flag formation with target pointed to 21k .

Moreover, a break below 9000$ will trigger a correction(BAT like pattern) which mean a completion of wave cycle in an uptrend direction then we go down with target pointing at 4350$.

TRADING PLAN:
Personal I took the side of the Bull with an attempt to long towards my Buy back zone on the chart with stop loss target towards break of 9000$.

I hope this little analysis will assist someone in making profitable decision.

Do remember to leave me likes to encourage me for more updates.

Thanks


Trade active: Flag formation continues with price holding flag range till we reach final leg of the flags.

In addition to this we have potential ISHS in the making also.
Trade active: Flag formation still in progress. Keep an eyes on our buy back zone to long on BTC.

Accumulate within the range.

Trade active: still waiting for a re-test on 10k zone before laddering long
Trade active: In view on Bullish Flag formation

Formation of flag in progress.
Expecting reversal from here or if we go more down maximum drop will not exceed 9400$-9300$.

Flag range remain same as 9000$-12000$
Trade active
Trade active
Trade active
Trade closed: target reached: Immediate target achieved
Trade active
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Comments

weslad Jocoin
@Jocoin, thanks for sharing your view with us
Reply
Guys be careful if you are going to short bitcoin. This idea below explains why:
+1 Reply
weslad asdasadsadsadsda
@asdasadsadsadsda, thanks for sharing your view with us
Reply
still doing it wrong...
Reply


It remains valid so long and the price does not break below and invalidates the count. If it does break below then my expectation would be to complete a larger 3 wave ABC down and start the new 5 wave count up from there. Unless and until this count gets violated I'm sticking with it. A 1 hour view of the current price action from the same chart above. It is quite incredible how the waves keep hitting their marks. I'm not saying I'm always counting it correctly, but there is no denying the patterns keep repeating according to the numbers.

*** STOP LOSS (9.499.99)

Good luck

God above all!
Reply
Should not go down at least this year
Reply
shouldn't have taken the side of the bull. of course, we're not going down to your ridiculous 4k zone, but we will easily break 9k
Reply
BUY NOW RIPPLE
Reply
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