1st TP around 70-71K (Short view) 2nd TP around 100-106K (Long view) The price forming "Running flat" and going to attack 70K zone soon.
Overall (Short-term, Long-term is hard to tell): possible in both Long (40%) & Short (60%) Color system: Start from purple-> On 1-hr. time frame there's a little bull divergence on it. So it might spike to the green area, but the volume is so low that I don't think it will go up in that way. So let's see the blue lines are the test line (support). If it cannot...
Elliot wave shows that 1->2 is 80% 👌 2->3 is 161.8% 👌 could be higher but for now I just set it as a dummy target. Where are we going? • we might going 3-4 around the green box. and 4-5 after the collection
If the price break any black trendline. the trend will change I guess. in term of RSI, it feels like retesting the higher low. so I assume that the price might go down first then pull back. If it's not gonna make it, it will drop like a hot bullet. you could see the fibo that I have drawn. for current situation (short term, weekly), I go -> bullish 60% bearish...
higher low higher high. SL 26900. Target 29-30k xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Trend is going down, but it is nearing support line so we gamble.
Historical all time low for RSI, so there might be a chance that there will be some spikes (could be no spikes). I can see 2 scenarios (as shown in the graph). Let's wait for the FED speech.
Should go down at least 21k(Wave2) to go up for the next (wave3).
the chart looks good, and I think it will go down for collection for a bit. target =-3000 pts.
over expected for BTC. for now I go with the trend. and plan to open long in a near future!.
I do a fast long over here, the idea was that we hit both 0.236 and 0.5 in both elliots. so I think we might be in an "A" spot going to "B" Happy trading!
It breaks every possible trendline. Once it breaks more you will see targets 1 2 3. Happy trading.
3 times breaking lower trendline. So I expect the trend will go downward. it will go one way or another as shown in the graph.
It really breaks the trendline, even if it is just a little break. a break is a break. I expect it to go down. for short-term it could spring back a bit but naturally I think it is likely to go down once more!.
Do we want to retest again?, I don't think so. Let's cool down for a bit!.
A major trend is a downside, but at the moment I just want to gamble on Long for a short period. This is very risk move so I minimize the portion to only 20%
Didn't open any positions yet, But I think it will go down more.
I think It might be the end of wave 5, so I think the collection will come for a bit. So I open short position overthere.