//// ZOOM OUT ONCE OR TWICE ////
(4hr chart)
The Elliot Wave way out of the bear channel. BTC has been pretty good at bouncing off the FIB 0.5 and 0.382. This is a very risky play but nevertheless it's according to the strategy. We would have to see BTC at the trendline again though. So plenty of stuff could happen. This is one scenario.
"Bear" ind mind that we got rejected at the 200 day MA, hopefully that will just lead to a correctional wave 2 of the first impulse wave on the yellow Elliot Wave structure.
The previous correction is still active, since we're now back around the channel. Don't be surprised if we still hit the FIB level at around 9K or lower. That would justiify the small pull back on the blue 4th correctional wave.
I am not mentioning the obvious H&S pattern forming. We are stille aaaaaaaages in time and possibility away from that scenario. So don't bet your money on that yet. Wait for it.
Check out my analysis from yesterday as well
- sell target was hit spot on.
(4hr chart)
The Elliot Wave way out of the bear channel. BTC has been pretty good at bouncing off the FIB 0.5 and 0.382. This is a very risky play but nevertheless it's according to the strategy. We would have to see BTC at the trendline again though. So plenty of stuff could happen. This is one scenario.
"Bear" ind mind that we got rejected at the 200 day MA, hopefully that will just lead to a correctional wave 2 of the first impulse wave on the yellow Elliot Wave structure.
The previous correction is still active, since we're now back around the channel. Don't be surprised if we still hit the FIB level at around 9K or lower. That would justiify the small pull back on the blue 4th correctional wave.
I am not mentioning the obvious H&S pattern forming. We are stille aaaaaaaages in time and possibility away from that scenario. So don't bet your money on that yet. Wait for it.
Check out my analysis from yesterday as well
- sell target was hit spot on.