We saw a buying climax for Bitcoin at 9980 USD, the failed attempt at 10k caused a sell off down to 8980, which was wave A of a ABC correction. Currently Bitcoin is working on wave B, which will take it to around 9500 USD (see green circles). The current move could also be seen as wave 1 of a impulse up, but for that the prices struggles too much.
From there we will start another push down. Fibs, trendlines ans supports point to 8650. But mostly that value is then not reached by Bitcoin because most chartist see that as target. So I am think more like 8770 to 8700 as target.
There it remains to be seen if we are in an accumulation phase and go up after consolidation or move further down, if the consolidation was indeed distribution. My guess is one last move up.
From there we will start another push down. Fibs, trendlines ans supports point to 8650. But mostly that value is then not reached by Bitcoin because most chartist see that as target. So I am think more like 8770 to 8700 as target.
There it remains to be seen if we are in an accumulation phase and go up after consolidation or move further down, if the consolidation was indeed distribution. My guess is one last move up.
Nota
Detailed view for targetsNota
I just saw another channel line and added it. If you copy the line from the big channel Bitcoin was in and apply it deeper you get another channel. Incidently that trendline also hits the anticipated target.Nota
As the new developed structure from other currency pairs does not support the idea so well I added another option to keep in mind. (pink) Have a lookout around what happens at 9500ishNota
If the 0.618 (9370) gets rejected a fourth time we go downNota
Trying to break it:Nota
Nota
Looks like LPSY:Nota
Another touch here and may the abc I looked for:Target: 9580
Nota
long:ETC at 20.04
ETH at 733.7
tight stop losses below trendlines
FAlling wedge on BTC forming, alts stabilising
Nota
Target 1 9400 againTarget 2 9580
After that C wave to Target 1 8840, Target 2 8680
Nota
SL hit, abc not yet reached
Nota
Recommending greg's count here, see above update!Nota
Nota
Nota
Corrections technically complete in 5 waves:Nota
But I see that now as more plausible: 8269Nota
Bigger picture
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.