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WaveNerd
Oct 20, 2020 5:09 PM

Bitcoins bout to break 12.5 - maybe not -20% drop incoming maybe 

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

The move from 12.5 K to 9.8 k was a zigzag correction. The current move up might not be bullish but in fact a B wave in form of a another zigzag. Possible reversal at around 12.4 K. If it is a B-wave, we should see a 5 wave move down to finish a flat correction on larger timeframe. Target for the c wave down will then be at least 9.8K.

Sure the move up could be bullish in which case 12.5 breaks. We will know if target for the B-wave breaks. For the moment there are bearish divergence on 6 h timeframe suggesting that we are in fact in a bearish b-wave

Enjoy and happy trading.

Comment

No bearish divergence on 6 H any longer. It supports the bullish scenario
Comments
VincePrince
Very good objectives given especially with supply increase, thanks for sharing.
WaveNerd
This bearish scenario is now invalidated
WaveNerd
You’re welcome
six19trading
People get too excited about these 300-500 pumps .. doubt we will see any huge moves until election
WaveNerd
@six19trading don’t think election has anything to do with it😀
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