EWT
BTC - Verge of MAJOR CORRECTION5th Wave Extension Scenario
Topout Zone: $17,500 - $17,900
Retrace Zone:
Minimum Retrace is $13,800.
Likely to be wave 4, looking for the $12,700 - $11,000 Range
S&P going into next weeki left the fork on there because of the reactions it had, i dono :-) usually use the low + swinghigh + 2nd lowest low. can you do it like this? i usually try to observe the reactions it has to determine if i throw it on there or not.
BTC - Short Term Scalp SetupEWT - A-B-C corrective wave, almost text book, short continuously in the range box, cut your losses after $16,500. This is a textbook setup though. Take Profit is $15,800.
BTC - Revisit 14K Range?My wave-count was meticulously tracked all day, and the following conclusions I got were this:
This market is so undecided in what it wants to do it's insane. Lot's of choppy price action, someones immense amounts of volume comparable to at other times none. But the trend is bearish for the short term. It is likely we wake up to BTC in the upper 14K range tomorrow morning. Hope you enjoy my markup :)
EWT Coming Back From The Dead?My Fellow Crypto Traders,
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Cheers & Happy Trading!
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ANALYSIS:
EWT has finally broken it's bearish trend, and showing signs of life. After hitting a .75 retracement, it seemed EWT would enter a phase of consolidation before taking a stride to the upside. However, with EWT hitting 0.38 fib retracement with strong momentum, it is very likely EWT can re-test the 0.618 and beyond. Moreover, as more partnerships like OCEAN, Solaria Australia, and Polkadot draw more connections to the rumored partnership with Tesla, EWT can see positive price action on hype alone. Especially coming form such a low position.
THIS IS NOT A DRILLEWTUSDT is finding support on a major support at $5.50-6. Look how the Murreys math nailed the bottom. Right now we are retesting the last major resistance level then its $7.50 (mva that keeps rejection us on the bear market on the Daily time frame) then theres not enough information. Alot.... from there is price discovery. GRAB A BAG
