Hey whats up tradingview been a minute since I posted a bitcoin chart so here it goes.
I see this as a ABC correction in the macro wave from 20k to 6k
I see the current correction from 12k to 6.6k as a 88% retrace despair (potential to be final low) of the entire bearish market cycle. (not calling bottoms just saying if this double bottoms it will be absolute bottom for quite some time and very likely the entire cycles bottom.
If 6k cant hold 5k is around the corner but according to my long term logarithmic analysis that is less likely to happen
There are multiple ways to look at the bitcoin chart but one of the better ways is to look at it from the perspective of human emotion where are where in a standard market cycle?
stay profitable stay wise keep risk management and keep winning folks!
I see this as a ABC correction in the macro wave from 20k to 6k
I see the current correction from 12k to 6.6k as a 88% retrace despair (potential to be final low) of the entire bearish market cycle. (not calling bottoms just saying if this double bottoms it will be absolute bottom for quite some time and very likely the entire cycles bottom.
If 6k cant hold 5k is around the corner but according to my long term logarithmic analysis that is less likely to happen
There are multiple ways to look at the bitcoin chart but one of the better ways is to look at it from the perspective of human emotion where are where in a standard market cycle?
stay profitable stay wise keep risk management and keep winning folks!
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here's the LOG cycle and TA
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some shorter term analysis
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watching the .88 retrace
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Bouncing off a double bottom can we break ABOVE $7,600?
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primary count is we wont go below $6,400
alt count we test $6,000 and bounce
primary count is we wont go below $6,400
alt count we test $6,000 and bounce
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watching for these waves
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lil update for yall
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ABCD triangle correction complete lets see some buying action!