In my previous update posted yesterday I noted that Bitcoin started a new leg up in subwave (C) of wave ( 5 ) up targeting 73,000. Subwave ( C ) of wave ( 5 ) up has to be subdivided into five waves. Bitcoin has made ( i ) up, ( ii ) down structure, a starting setup for a rally in wave ( iii ) up. Subwave ( a ) of wave ( iii ) may be targeting 100% ext of wave ( i ) up.
I think Bitcoin is starting another leg up in subwave C of wave 5 up targeting 73,000
Bitcoin has hit a double resistance: - 66.7% retracement of the preceding decline, and - the middle line of Andrew Pitchfork. It is likely that BTCUSD will produce a pullback/a-b-c- shaped consolidation from here in subwave B down of wave 5 up. That pullback has to make a higher low setting stage for another rally in subwave C of wave 5 up targeting a new all...
The consolidation off the high made in February 2021 looks like a complete triangle structure. Subwave E down overthrew the lower support but from time to time that happens. The first target for this move up is 66.7% retracement (the Red Box).
FUTU is approaching a normal target for the strongest part of the rally, subwave C of wave 3 up. I think we will see a wave 4 down in FUTU to 57 - 55. CAT Trend Channels indicator caught several pullbacks to enter that bull run.
Bitcoin may play a sharp pullback in a micro wave -iv- down off 17,100 - 17,900. That pullback will most likely find support at 14,375
As I predicted two days ago , the drop has begun! This looks like wave a of iii down
We have got the first confirmation of the final drop in wave c of ii down I have been waiting for. We have got the first wave i down. That final wave c of ii down should be subdivided into five waves. And so far we have got wave i down and wave ii up. The next move may be a sharp drop in wave iii to 3,840 or even lower. At this point I am clarifying my target for...
It is very difficult to find an impulsive count of the move up off the late February low. I tend to count it as a complex w-x-y corrective wave b up of ii down. I still expect the final drop to 3,650 in wave c of ii. That drop would set a stage for another rally that would break out over 4,000.
On 4 March 2019 I predicted a rally to 4,000. That rally was supposed to complete a corrective wave b up of ii down. Bitcoin hit 4,045 on 9 March 2019 and since then kept grinding lower. My expectations are unchanged, I expect Bitcoin to drop in a strong scary impulsive fashion to 3,600. That drop would complete a corrective a-b-c structure off the top of wave...
As I predicted on 4 March 2019, Bitcoin rallied in a corrective wave b up of ii down . And I warned back then that the rally would be a corrective and would follow by another plunge. So this time has come. The minimum high probability target for the drop is 3,610. That drop would finalize a-b-c correction after the previous strong rally in wave i up and would...
As I expected in my previous post we got that corrective rally. It may stretch a bit higher but overall we may drop from here in wave c of ii down.
we may get a micro rally in subwave c up of the wave b up of ii down
In my previous update posted on 24 Feb 2019 I wrote: "This current drop into 3,820 is clearly only the first leg down in wave a of ii. Despite the fact we should get a corrective wave b up and that could get as high as the previous top over 4,000 I would encourage you not to take your chances and wait for a corrective wave b up to top and then you may try to...
In my last update on February 19 I warned bulls: "Today, after 30% quick gain off the bottom I want you to cool down. I am still bullish on Bitcoin . But we got wave i up of a larger wave ( c ) up. We may get now a pretty deep corrective wave ii down targeting 3,600. " I count a-b-c move up that topped around 4,280 this night as a completed wave i up off the...
On 8 February 2019 I showed you a bullish declining wedge and announced an upcoming rally. On 14 February I showed you another bullish wedge and said that we gonna get rally to 4,000. Today, after 30% quick gain off the bottom I want you to cool down. I am still bullish on Bitcoin. But we got wave i up of a larger wave ( c ) up. We may get now a pretty deep...
Bitcoin has broken out again. A target for this move up is at least 4,000
Bitcoin has been consolidated after a spike in a bullish descending flag. It may stretch lower all the way to 3,580 to retest from above the critical resistance I outlined for the breakout. The next rally should target at least 4,000