Hello guys, here some updates of my precedent chart.
The crucial point of my precedent TA didn't hold and invalidate the ABCDE bullish flag. We clearly see now the woods of a major correction. Remember correction are healthy and that's a good time to buy more if you caught the good price.
Different scenarios are now possible : - We could be at the wave C of an EW ABC correction that would push us to 8k area. - We can see on the chart a descending triangle pattern who could slowly put us to 7-6k area with a possible breakdown to 4K... and yes... i think it's possible but as always it's a game of probability.
For the first time in Bitcoin history (if i remember well) the daily MACD shows a possible reverse trend in bearish zone. RSI shows signs of bearish too.
We'll probably retest 10K before any other scenario, but i don't expect this support to hold a very long time.
It's always a pleasure to read your comments, agreements and disagreements are always welcome when there are constructive.
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Remember i'm not a financial advisor, it's only my personal trading plan. Everyone can be wrong, TA is not a basic science. Please do your own research and play it safe. Cheers !
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10500$ support from 22 December is now break by the 1h chart, can imply further decline in the comings hours if we don't see a bounce from now.
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9000$ hold strongly.... the bottom can be in for today, but i expect lower lows in comings days.
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Looks like a H&S is forming on the 1h chart, could push us to 9k area again.
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Expected H&S in progress.
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34 weeks WMA support at 9K1, ABC EW correction support : 8K2. Strongest support 89weeks WMA : 5100$.
10k is holding for the moment , if not 8k is there, lets see but altogether good time to refill the bags and wait out.
KassandrA_dotcom
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@Crypto_Rage, thank for your comment sir, it's always real pleasure for me to speak with people.
Yes i think 10500 is a short-term support (some hours, maybe some days).
8k should be a better one where we could see the resume of the uptrend with a good bounce...
But it's too earlier to be sure of anything.
The real positiv point for me is that patient people well be able to see good buying opportunity in the coming days... just play it safe.
Have a nice day
oymer007
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I Remember when everybody expect to 8k and we see the low of 9k .today I think like that everybody expect 8 k we see the whats happen
KassandrA_dotcom
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@oymer007, Yes we never see the expected target, 8k area can mean low 9k too... but personally i think it'll be a little lower :)