Bitcoin #BTCUSD - pessimistic scenario is unfolding -50% ahead!
After the BTCUSD cryptocurrency price hit the technical support level at $ 12,450 and rebounded slightly from below, $ 11,150, the wave (4) triangle scenario was invalidated. If the increase in volume causes the level of $ 11,150 to be broken again, the next target level for the price is the level of $ 9060.
The market is still in the corrective wave (4), which means that there is still a wave (5) to be done.. Nevertheless, the wave (4) must end first.
Reverse from the level of $ 11,150 and break of the level of $ 12,450 means a longer and more extended horizontal wave correction (4) in progress.
The market is still in the corrective wave (4), which means that there is still a wave (5) to be done.. Nevertheless, the wave (4) must end first.
Reverse from the level of $ 11,150 and break of the level of $ 12,450 means a longer and more extended horizontal wave correction (4) in progress.
交易進行:
Almost there.
Now there is time for a correction in sub-wave (4) and then a final push down.
Now there is time for a correction in sub-wave (4) and then a final push down.
交易進行:
Still one more wave to the downside possible, but please watch the level of $12,717. Any breakout higher means the bottom is in!
評論:
Impulsive scenario invalidated. Alternative scenario in play. The fifth wave to the downside is canceled.
評論:
Impulsive bullish scenario invalidated. The market still moves in three waves.
www.tradingview.com/chart/CxcPMGzc/
www.tradingview.com/chart/CxcPMGzc/
評論:
$ Bitcoin $ BTCUSD
The wave (B) high was set exactly at 38% Fibo and the market dropped in the next five waves to $ 10.028. In order to continue the decrease in an impulsive way, the price cannot now break the level of local resistance at $ 11,100.
The wave (B) high was set exactly at 38% Fibo and the market dropped in the next five waves to $ 10.028. In order to continue the decrease in an impulsive way, the price cannot now break the level of local resistance at $ 11,100.
評論:
BTCUSD is back in the channel as the 61% Fibo is providing the resistance. Too many scenarios right now, so the patience is needed.
The option for a new low is still possible as well.
Watch $13,052 level for a breakout.
The option for a new low is still possible as well.
Watch $13,052 level for a breakout.
交易進行:
The best scenario currently is an alternative count, where the peak of wave 4 is at the level of $ 3,200. From there, BTCUSD will most likely be falling in the form of a 5-wrench (Ending Diagonal) and thus will break the $ 9,151 level.
Two inner sub-waves remained to the end of the wedge. The target for falls is the level of $ 8,600.
Two inner sub-waves remained to the end of the wedge. The target for falls is the level of $ 8,600.
評論:
The market violated the 161% Fibo extension of the wave A at the level of $8,600 and currently is testing the lower trendline dynamic support around the level of $8,000. If this level will not make Bitcoin to bounce towards the level of $9,100 then the next projected target is seen at the level of $6,742. The overall complex corrective cycle looks completed anyway or is very close to termination.
