hi guys,
looking back to 2013 we can count the EW 3 waves until now and 2 corrections ( 4h wave correction happening right now ).
I think we are near the bottom here and will see continuation to the upside soon.
I think "this time will be a different" kind of cycle than the previous ones, mainly accounting for the 2013 trend line that was tested as resistance in 2017 and broken in January 2021. I do think we can assume that what we are seeing is the retest and maybe ( hopefully) the switch to support of the same trendline. If this will be the case we should see the macro wave B of the correction starting soon with a target in the 51.000$ area. After that, we will probably go down again and re-test the 24.000$ area ( not before ).
Before wave 5 happens we need to see a visit to the oversold area on the RSI. I think this will happen probably in jan/feb 2022 and would count as wave C on the macro.
Trade safely friends, this is not financial advice.
looking back to 2013 we can count the EW 3 waves until now and 2 corrections ( 4h wave correction happening right now ).
I think we are near the bottom here and will see continuation to the upside soon.
I think "this time will be a different" kind of cycle than the previous ones, mainly accounting for the 2013 trend line that was tested as resistance in 2017 and broken in January 2021. I do think we can assume that what we are seeing is the retest and maybe ( hopefully) the switch to support of the same trendline. If this will be the case we should see the macro wave B of the correction starting soon with a target in the 51.000$ area. After that, we will probably go down again and re-test the 24.000$ area ( not before ).
Before wave 5 happens we need to see a visit to the oversold area on the RSI. I think this will happen probably in jan/feb 2022 and would count as wave C on the macro.
Trade safely friends, this is not financial advice.
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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.