hey guys welcome to bitcoin xbtusd update, first of all huge congratulations to everyone who followed this chart and made huge gains.
according to this theory the correction was not over yet and still bitcoin could see a major correction, so be prepared, and don't be biased towards the bullish side, anything is possible.
now moving towards this update as you can see that we've already entered in wave A, and most likely this could be a zigzag corrective wave in which wave moves in 5 subwaves, so wave 1 has already takes it place and wave 2 is also completed around 13350, so now its turn for wave 3 which will be the strongest one and this wave could drive the prices all the way towards 11200 or even lower, personally i think that fib138 of wave 1 which is around 10400 is most likely, also shown in chart above.
meanwhile the whole 5 wave formation could drive the prices all the way to 10000 or even lower.
why am so bearish now? fundamentally that's also can be seen as a contrarian, coz now am seeing that lots of traders are predicting 15000, 18000 or even 20000 targets, which are quite aggressive and biased towards the bullish side. we have to be optimistic on the right time, and the beauty of elliot wave theory completely provides you this.
when i start to write this prices was around 12300 but you can go short even from 11800 level
Short #XBTUSD with 5x of leverage from 12300 - 11800
T1 11450
T2 10450
T3 10000
SL 13400
now moving towards this update as you can see that we've already entered in wave A, and most likely this could be a zigzag corrective wave in which wave moves in 5 subwaves, so wave 1 has already takes it place and wave 2 is also completed around 13350, so now its turn for wave 3 which will be the strongest one and this wave could drive the prices all the way towards 11200 or even lower, personally i think that fib138 of wave 1 which is around 10400 is most likely, also shown in chart above.
meanwhile the whole 5 wave formation could drive the prices all the way to 10000 or even lower.
why am so bearish now? fundamentally that's also can be seen as a contrarian, coz now am seeing that lots of traders are predicting 15000, 18000 or even 20000 targets, which are quite aggressive and biased towards the bullish side. we have to be optimistic on the right time, and the beauty of elliot wave theory completely provides you this.
when i start to write this prices was around 12300 but you can go short even from 11800 level
Short #XBTUSD with 5x of leverage from 12300 - 11800
T1 11450
T2 10450
T3 10000
SL 13400