BITCOIN (BTCUSD): That was probably the bottom!
Welcome back everyone,
Was inactive for a few days. Now I'm back on track. :)
Last months, in my youtube videos, my Discord community and tradingview I talked a lot about the Bitcoin heading to the main support around 6.7k -7.4k usd. Like in my previous post below:
And yes finally we reached our target and bounced off quickly. But the big question remains was this the bottom of is their more room for dropping. For me personally this was probably the bottom, their is a big change we'll drop just a bit below 8k usd to form a higher low. After the higher low we can look for two big long trade targets around 13k and 15k usd. That are the main resistance levels for my original idea of making an abc-correction.
The impulsive wave down could be arguable, their a lot of counts for it for example a double combo wave, but the fact still remain the same, it will follow up with a correction up again. :) Later today I post some wave counts in this tradingidea for the smaller time-frame. I also want to mention this. We need a higher low on the 1h chart to confirm the bull trend.
Please if you like my posts. Follow me on tradingview and agree on my idea. This keeps me motivated!
Was inactive for a few days. Now I'm back on track. :)
Last months, in my youtube videos, my Discord community and tradingview I talked a lot about the Bitcoin heading to the main support around 6.7k -7.4k usd. Like in my previous post below:
And yes finally we reached our target and bounced off quickly. But the big question remains was this the bottom of is their more room for dropping. For me personally this was probably the bottom, their is a big change we'll drop just a bit below 8k usd to form a higher low. After the higher low we can look for two big long trade targets around 13k and 15k usd. That are the main resistance levels for my original idea of making an abc-correction.
The impulsive wave down could be arguable, their a lot of counts for it for example a double combo wave, but the fact still remain the same, it will follow up with a correction up again. :) Later today I post some wave counts in this tradingidea for the smaller time-frame. I also want to mention this. We need a higher low on the 1h chart to confirm the bull trend.
Please if you like my posts. Follow me on tradingview and agree on my idea. This keeps me motivated!
Comment:
Let me be clear! I drawed two different out-comes in the first scenario an abc-corrective pattern and in the second an elliot impulsive wave. Their both possible on scenario 1 as 2, time will tell, nobody knows yet.
Comment:
Just posted a new trading idea on the smaller time frame!
Scenario 1 (7.4k usd was the bottom):
Scenario 1 (One more wave down till around 6.8k usd)
This is in my opinion really likely, this mean we will see one more wave down to 6.8k usd, before we go up again. When we make the new higher low, we now the trend. In my opinion the big decision everybody need to make is was this the bottom already or take the gamble to 6.8k usd and buy-in lower.