Hello People. Many have asked me about what I think of BTC and I just wanted to have a little time for price to developed a little more.
I will try to be quick since about what I think.
BTC has a main downtrend top (white line) that is located at around 11k in the current price movement. Keep in mind that is a estimate and BTC could pick up price movement. The secondary trend is at 905k (blue line) and that would complete the 5 EW Cycle. from there we have a ABC correction that ends up around mid 7ks.
The reason why I am saying we will probably end up around 6.6k is not a FIB or a EW reason but a psychological on. The 3rd impulse wave started there and logically most people bought at that price.
These are my thought today and based on what I have learned from BTC price movement and I hope you find them helful.
Remember this is not intended to give you a financial advice but to offer you an educated opinion.
Thank you for your time.
:)
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Funny. Didnt take long. lol
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First red candle completed . Let's see if we get to the to my 7900$ entry price in the next few days. Stay tuned. :)
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BTC really did better than expected. Now we are facing the first trend line. let's see how we do in this 9k area. BTC is know for melting down to little heat but I have better hope for BTC this time.
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Just a little close up of BTC above resistance. I really hope it stays there I want my 28k btc short term.
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For what is worth, BTC hit a little wall today and I am wondering where it is heading now. Will this be a quick recovery or a long normal fall. We will find out tomorrow I guess. Stay tuned.
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discard above image lol good thing it was not a nude. haha