PNUTTY

BITCOIN FINAL CORRECTION

BITSTAMP:BTCUSD   比特幣 / 美元
- POTENTIAL FINAL SURGE DOWNWARD
- STRUGGLING TO STAY ABOVE .5 FIB AT 11K RANGE
- IF IT DIPS, WILL RE-TEST 9.2K, THEN NEXT STOP 6.7K

Bitcoin             is testing some levels of support and currently floating at a .5 fib level. It's not unusual in the crypto world for coins to re-price to .786 levels. If this happens Bitcoin             will of course drag the rest of the market down. I'm keeping my eye on the indicators if Bitcoin             tonight drops down rom 11k and starts heading for a re-test of 9.2k.

And now for the disclaimer!
** This information is for educational purposes only and is not advice for trading **



評論: Small heads and shoulders forming
Could go either way. Time to setup some buy limits
snapshot



And now for the disclaimer!
** This information is for educational purposes only and is not advice for trading **
評論: Usually stuff happens when I'm sleeping but looks like Bitcoin isn't out of the woods yet. When it ranged between 13k-16k, it did it for quite some time. Could very well range here for the short term as well but eventually price will have to take direction.

snapshot
評論: Broke out of the forming wedge.
Looks to retest the 11k support.
Next stop if 11k fails, 9k region, and then 6k.
As with previous periods of ranging, this could bounce down, then back up before final correction.
snapshot
評論: Here it comes, slowly..

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評論: At this rate it's gonna be another day till we see a re-test and yet another heads and shoulders formation.
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評論: Previous support is now resistance with the current 4H candle closing below it

Next stops are 7k, 6k, then 4k.

snapshot
i'm in
Thanks
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PNUTTY PRO pwbanyad
@pwbanyad, You're welcome!

Let's see if it really does make this final swing down. Personally I would like it to swing down hard before going on a bull run.
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... and your last ABCDE should be called 12345 because it's a subwave of wave C.. so your 2 corrections you should put them in 1 starting from 20000 till 9200, and then you can determine your subwaves...
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It's difficult to say right now, because there are many possibilities.. even the best are wrong every time I see, on the short term specially.

Your first ABCDE should be a 12345, your correction looks a little funny, and after a ABC you cannot have a second correction, and your a little out of proportion, but it's a good try...
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PNUTTY PRO Wolverinos
@Wolverinos, Thanks! Always room for more learning :)
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@PNUTTY, yes, I still have to learn a lot myself... someone else corrected me as well :-p
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I THINK, BEST IS -IT WILL DROP AFTER 13K BACK TO 8000 AGAIN.!!!!WHAT U SAY?
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PNUTTY PRO mohitfrequent
@mohitfrequent, Hello! thanks for your comment.

yes very possible.


Bitcoin struggled getting above the 13-16k range, and i think that 13k support may very well turn into resistance.

It's still a very pricey coin.

ANYTHING IS POSSIBLE!
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@PNUTTY, I AM NOT THE PRO TRADER.I AM JUST A SMALL START UP.
THIS IDEA I GOT UP BY READING OTHERS ASSUMSIONS...
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PNUTTY PRO mohitfrequent
@mohitfrequent, I am but an enthusiast, my fellow enthusiast . . . cryptos is new for almost everyone!
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