You probably think what the hell is going on with entire market and BTC especially as it dictate trend for entire Crypto market.
In my opinion we need to finish One short subwave of wave (V) of C. C is Major Corrective wave of entire growth from 3 to 69K. So if my Elliot wave count is correct, than we will see Bottom of the Dip around 30-32K USD.
BUT. Many traders alredy expect this zone and want to buy. So I expect some F@CKUP. So 1) Either we will dip only to area aroun 33K (and most BUY orders will not be filled) 2) We will fall below 30K where more Stop-losses will be triggered what could extend last wave to something like 29-27K Area.
Be ready for both scenarios and Ladder your entry.
Also consider your strategy and RRR ;)
Trade active
⋅
Comment
⋅
Seems like market is hesitating what to do right now, and we could form som kind of Bear flag. Probably it will drop with US stock market open in next 6 hours.:
Well lets wait. ;)
Comment
⋅
Looks like we could Fall lower, IF ... we break below 37200 tahn its HUGE change we didi only ABC correction up and free Fall will continue...
Check out our discord for more information on what’s happening, we have Goldman Sachs analysts here.
SlavicChartist
⋅
@Jiggayjay, Undoubtly it will crahs, but we are very cose to end of this impulsive wave from 69-34K (yet) which will be probably finished around 30K. So My chart show retracement of this move. Crypto moves faster than stocks, so then it should be no problem for BTC and some sh!tcoins to gain tens of %% up in correction of downtrend.
Jiggayjay
⋅
The crypto market does not have a chance of a bull market this year especially if the stock market crashes all technical and fundamental indicators as well as psychological and technical indices or showing a stock market crash the correlation between crypto and the stock market is not some thing that we can ignore it is very evident if Crypto is on it’s last legs for the year at least in the short term and we can basically guarantee a deeper market correction that means that Crypto is likely to crash into one of the hardest bear markets that it’s ever seen