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Masterpattern

Legendary and unstoppable Crypto IndustryThis idea is a very vague scenario where I think Bitcoin might be rejected hard. Maybe a decent area for those traders seeking for a lifetime big-short entry spot. This technical insight has been deducted using log scaled chart. To be honest, I personally think it's a very risky idea to search for a prominent short entry. It's beyond human's capability to "predict" (a word that I hate to use in TA world) the future value of anything. Especially recent financial industry definitely made human to feel how vulnerable and weak ourselves are. Don't even try to predict future. It will only make us human being to realize how incompetent we are.
BITMEX:BTCUSD.P
by Tommy_Trader
Bitcoin. More correction?#Bitcoin #XBTUSD #Daily #Tommy - Here is XBT daily chart. After a massive bullrun up until 42k, Bitcoin has broken the blue upward trendline below and has been on its correction phase. - Making lower highs and lows, it is currently forming a falling wedge. Moreover, it’s testing the support of the inner upward trendline which I have marked it with yellow dotted line. - At the same time, it is testing the short-term bottom around 30400. It has been a great support for last few days but doesn’t seem that it will last long. - So for those traders waiting for more correction, make sure the daily candle closes under both the yellow inner trendline and the 30400. - In Elliott Wave theory perspective, I have interpreted the correction structure as WXY where another 5-3-5 zigzag ABC correction waves are to be expected. - Here are some of the supports that I am considering. 26500~27500 (valid until 2/4) 23500~24500 (valid until 2/6) 19300~20300 (valid until 2/11) - Traders wishing to enter long on these supports, make sure to consider the validation date.
BITMEX:BTCUSD.P
by Tommy_Trader