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!
Comment
⋅
At the moment there two scenarios, the 7.4k usd was the bottom or we see one more wave till around 6.8k usd.
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.
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!
Actually 6.4 may be correct. Thank you for sharing......despite my negative feedback. Good luck
takaratengu
⋅
Dear sir. How is it possible that you can continue to believe yourself? I have watched you for 4 months. 73% of everything you have predicted is totally wrong...but you still do it. I am a troll. I am on patrol and I would like to give you a parking ticket. Bitocoin is beautiful. But it can never become what it is until it comes back to its basic world inspirational price. And it is not here yet. Please stop giving people false hope. P.S. I am 115% in profit from January so I have no personal issues with you