Clearly 60k resistence zone is extremely crucial for Bitcoin. If able to break above and make it support, another story will begin for Bitcoin. For now, care. Major support level is around 42k.
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As my expectations, bitcoin had crushed the day i publish the idea, great short entry from 58700. I still see 60k is a major resistence, if Bitcoin is able to consolidate above 60k, it is an anotjer story though.
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I update the major support level for 48500 USD. I don't expect Bitcoin price to stay under 48500 USD for more than 3 days. As resistence being still around 60000, if Bitcoin is to break above, I will sell my Bitcoins when it reaches 180000-200000 USD.
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Bitcoin seems to overcome 60k resistence zone and trying to consolidate above it. Each day it stays over 60k, 200k will be my target.
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Unfortunately, Bitcoin couldnt claim the blue line as support, dump was inevitable. Update on the way.
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After Bitcoin fail to consolidate above the blue line initiated in the first drawing, I am looking for a new trade plan. Currently it seems 30k is a strong support zone where I don't assume to break below.
After Bitcoin fail to consolidate above the blue line initiated in the first drawing, I am looking for a new trade plan. Currently it seems 30k is a strong support zone where I don't assume to break below.
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I mention the largest timeframe with green. According to my predictions, we are in the 4th correction wave of the Elliot Wave where investors truly doesn't/shouldn't want to involve in any kind of trade action. And the 4th correction wave is quite predictable so far, from a couple of different perspectives.
I mention the largest timeframe with green. According to my predictions, we are in the 4th correction wave of the Elliot Wave where investors truly doesn't/shouldn't want to involve in any kind of trade action. And the 4th correction wave is quite predictable so far, from a couple of different perspectives.
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On the top of the 3rd impulse wave, a textbook H&S pattern occured with RSI supporting the correction. The price target was precisely 30k.
On the top of the 3rd impulse wave, a textbook H&S pattern occured with RSI supporting the correction. The price target was precisely 30k.
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On the other hand, 30k level was 0.618 Fibonacci level of the 3rd impulsive wave, which I mentioned with green colour. If 30k area holds, then we are clearly on the 4th correction wave of an extensive bull run.
On the other hand, 30k level was 0.618 Fibonacci level of the 3rd impulsive wave, which I mentioned with green colour. If 30k area holds, then we are clearly on the 4th correction wave of an extensive bull run.