Bitcoin , will it break 12.5K or not? Update 4

Everything seems to be going as planned and predicted.
the triangle is broken and we are in wave 5.

I personally don't think it can break the 12.5k level for couple of reasons
1- it is a fibo level
2- it is a resitance level
From the RSI and detrended price oscillator ( DPO ) point of view we are close to an important resistance level:


I might not short it but I will close my position on that level for sure and wait for a pullback.

I don't think RSI and DPO can break the resistance level as we are already close to oversold area
I will keep you update under this post for the whole next week :)

Commento:

I updated the wave count

Commento:

the previous chart was 5min one
this is the 30 min chart and the expect target of wave 5

Commento:

Went exactly as predicted :)

Commento:

I am expecting this wave count to happen.
we are on wave A of the bigger correction

Commento:

wave C was much smaller than what I tought
this is the road map

Commento:

I add double scenarios on the chart,
these 2 option can happen and I have added the count for each one

Blue: the correction is over and we are in wave 5
Yellow: the correction is not over yet

Commento:

Commento:

complete correction wave count

Commento:

Commento:

the assumption of 5 was is invalidated now because we hot wave 1:

so it an abC.
the possible wave count :

Commento:

Commento:

the 5min chart

Commento:

Commento:

this is the 30 min chart

Commento:

this is the 30min chart

Commento:

Commento:

I just realised I missed one wave :D. the uptrend is over now

Commento:

we hit the invalidation level for down trend
we will be still in correction
still bearish but we are in the correction

Commento:

possible scenario ?

Commento:

I am short

Trade chiuso: obiettivo raggiunto:

Job done :)
see you next week

Commento:

Trade chiuso: obiettivo raggiunto