Tommy_Trader

Short-term possible bullish scenarios and targets

BITFINEX:BTCUSD   Bitcoin

The main posted chart above is one of the bullish wave counts where we are on wave c (yellow) of the wave 2 (green). To target wave c, I fib retraced wave 1 (green) to target above 0.382 lvl, and I also fib extended the small wave 1 (orange) to 1.618. The resistance around $8100 seems like a strong one for a while. Also we can see that the volume is declining so I am expecting some amount of correction.

This is another bullish wave counts that I am considering. But I just don’t think we have enough impulsive waves to take this into account which is why this is not my primary count.

I can also consider is as abcde correction where we had decent rallies for a while in a channel.


I just don’t have enough time now to discuss about other indicators so I mainly focused on my wave counts then I will probably update it later.

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