BTCUSD Elliot Wave 12345 ABC with bullish and bearish Scenarios
Greetings everybody here's my analysis on BTCUSD. I have alternate possible Elliot counts as well as bearish and bullish scenarios with some of my fundamental views and thoughts behind Bitcoin and the current state of the financial markets.
For those too lazy to watch through, my primary count leads me to believe that this current dump is the possible end of corrective wave C.
If we hold 6k support we should move back up to the upper weekly trend line of around 9k and then we will have to see how price reacts at that level. If we cannot hold 6k support we are heading to the 49xx region and then if we cannot hold that the final support zone will be between 45xx and 32xx support zones which is confluent with the bottom weekly trend line and 78.60 fib retrace of previous bull run.
Key points to take from this is that we could potentially have an amazing buy opportunity on the horizon in anticipation for the halvening and not to panic.
Happy Trading :)
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Therefore, before you decide to buy any product or keep or cancel a similar product that you already hold, it is important that you read and consider the relevant Product Disclosure Statement (PDS) of the product provider to make sure that the product is appropriate for you. Before making any decision, it is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice.
For those too lazy to watch through, my primary count leads me to believe that this current dump is the possible end of corrective wave C.
If we hold 6k support we should move back up to the upper weekly trend line of around 9k and then we will have to see how price reacts at that level. If we cannot hold 6k support we are heading to the 49xx region and then if we cannot hold that the final support zone will be between 45xx and 32xx support zones which is confluent with the bottom weekly trend line and 78.60 fib retrace of previous bull run.
Key points to take from this is that we could potentially have an amazing buy opportunity on the horizon in anticipation for the halvening and not to panic.
Happy Trading :)
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Therefore, before you decide to buy any product or keep or cancel a similar product that you already hold, it is important that you read and consider the relevant Product Disclosure Statement (PDS) of the product provider to make sure that the product is appropriate for you. Before making any decision, it is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice.
