If the price break out a potential Head-shoulder bottom pattern's neck line, it will be a good opportunity to buy after the price retest the neck line.
I am waiting for an opportunity to buy. It seems that the bitcoin is on a sidways correction process after a motive wave.
I hold an idea that a flag of uptrend is on the way to breakout. It is a good opportunity to trade here with low loss.
It seems that an impulse wave had ended and the corrective wave come up. The supply is in low level and the demand is still in control. So, the previous fourth wave is a good area to buy. Of course, stop loss must keep in mind.
Motive Wave after V Bottom ? OR Zigzag Wave (B) ? I don't think bitcoin is in a bull market of Motive Wave in Month chart. One possible structure is that it is still in a charp correction of Bear Market Wave(A). The correction process may end three months later, and then Wave(C) will finally come up.
Pice of bitcoin runs up quickly, and is close to the top of wave(2) The hypothetical diagonal wave may be wrong if the price break out of the top of wave(2).
Average Supply Lever in this fall back is 150K, it is increasing, and 1.5 times more than last fall back. Average Demand Lever is nearly the same, the market need two times more demand to reverse the supply trend. The chg% of this week is less than 10%, that's a day trend scale, it is a weak signal of Support Line. I am expecting a sharp drop next week.
In the diagonal wave, the regular fallback portion is 0.618Fib, so we short it here. And there is a downtrend line to set set stop loss price. We expecte that there will be a impulse wave of down trend.
The price breaked out of a triangle contracting pattern,and immediately blocked by the same scale supply. During the retest of the support,there will be a great opportunity to join the bullish run.
The price keeps rising, and get into wave(2) area, currently the supply is not strong. I am expecting that the price will keep rising near the top of wave(2) .
After a low vollume candle breakthrough a uptrend parallel channel, a hammer candle followed and provide a fact that the breakout was weak,but it had not proved it was a fase breakout . And of course,the support line was not strong. If the price can get into the channel again and stand upon the line, it will be a great opportunity to buy and open long...
It seems that a sharp correction of a Leading Diagonal wave is coming. If that happens, 0.5-0.786Fib or wave(2) area will be the target. I am waiting for more signals to prove it. This assumed Leading Diagonal Wave may be wrong too, it is hard for me to Draw conclusions.
It seems that bitcoin resume the shock trend,and is breaking through box-1 and into box-2. Pice goes up after toughed weekly support, but the response is weaker compared to last support action. Long body with lower vollume candle followed one hammer candle, and i can't find the evdience of supply vacuum. It is the sign that the price has no continuance to...
Firstly I am expecting a C Wave Drop to create a new lower price. Sencondly,The new lower price will likely stop at the top of the WAVE(2) area.
The bottom of this bear market will likely end at 13.8K-12.8K USD, 13.8K is the cost to mint one coin currently. 12.8K is the strong support line of last bull market.