Bitcoin (BTC): The Wave Setup for BITFINEX:BTCUSD by Nickonomics

Bitcoin (BTC): The Wave Setup

Nothing is happening in the market: volatility has become extinct and coins' trading fallen out of fashion. Range-bound bots and robotic humans absolutely prosper in this environment. The price was unable to break the 7700 threshold. For me this is a bearish signal. Indicators provide mixed signals, so let's examine wave structure. The move from May 29 is a 3-wave correction within a larger downtrend. A price drop below 7500 would confirm this scenario.

Note

LTC H&S setup:

Note

EOS is on the brink:

Note

Still can't get to 7500. This scenario becomes increasingly viable:

Nickonomics

Сервис: NixService.net
Telegram: t.me/NixTrading
Бот: t.me/NixJunior_bot

Also on:

Nickonomics

Сервис: NixService.net
Telegram: t.me/NixTrading
Бот: t.me/NixJunior_bot

Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.