The top has been reached. The energy is gone. That's okay. When is the right time to re-enter? According to the analysis, we have a correction of at least 70 USD. 55 USD are also possible in extreme cases. Next we will see a sideways movement. There are two new targets: ATH at 100 USD and Fibo 1.62 at 140 USD. I see this in the Fibo time frame at 1.5, mid-November. 100 USD can also arrive earlier. Then we would have a second wave of correction.
Let's see what happens. Happy trading. :-)
See also:
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currently i can't see if we have a trend reversal or just a bull flag. I'll keep you informed.
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just for info. i re-entered at 72 with a first part.
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the market has calmed down a little. maybe the price will fall a little bit further, but now we see a sideways movement along the trendlines. then it could go back up again. it also depends on the btc. if the btc falls further down, then all other cryptos will also fall with it a bit.
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as I wrote. we see a sideways movement at around 75.
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as I wrote above, we can see 55 in extreme cases. currently i expect a stop and strong support at 55.
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we have reached fibo 0.5. strong support can be expected.
It seems we are in an Elliot Wave ABC correction. In theory, we should see price correction somewhere between $38-$58 since we are at the end of 2 Elliot Waves. The larger wave could conceivably correct to $38 area which corresponds to the larger 4th wave area, while the smaller Elliot wave suggests correction to the $58 area whish is it's 4th wave area. Perhaps midpoint or ~$50.
@dalmazio, which MBA course you need to go for analysing cryptos that's a real genuine question for me
dalmazio
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@bluefeather4783, thanks. Start by reading everything you can on Candlesticks, Chart Patterns, Fibonacci, Elliot Waves, and a few indicators. Can learn a lot by following some of the pros on TradingView. And maybe check out babypips.com as they have a nice online course for trading that takes you from beginner to more advanced. Good luck!
BTCINVESTING
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@dalmazio, i agree. you can find everything on the internet. there is super information about all techniques and indicators.
BTCINVESTING
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@bluefeather4783, That's an interesting question. I'd say 20 years of experience. I've been trading for more than 20 years. I have also an mba degree but there you don't learn what you do when trading daily. in principle, the best school is life. follow some good traders and see what they do and in 2 years you can do it. look at their charts and develop your own technique. and one more thing: no feeling only a technical views. panic is the worst consultant.
BTCINVESTING
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@bluefeather4783, first of all look at the most important indicators: macd, rsi, dmi, bollinger, volume, ma (moving average), bull flag, bear flag, falling and rising wedge. then learn to draw lines and curves. much success...: -)
BTCINVESTING
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@dalmazio, technically, you're right. but everything depends on bitcoin. we are currently in a bitcoin bull market, so you should fix your goals up. 55 is therefore already very low. I see max. 65 or higher.
UnknownUnicorn1115814
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You are thinking of dropping to 0.5 fibo?
BTCINVESTING
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@Advert_ua, we have already seen fibo 0.5 yesterday.