Hey fam, this TA is important, so please pay a close attention and in the end, let me about your ideas in the comment section.
What do we see in the chart❓
There are two strong bearish movements both took 11 weeks and also there is a 9 weeks upward retracement in the between.
The price is now in the 4th wave of the main bearish movement and it is a retracement. I expect it too take 9 weeks from the beginning as well. It reaches us to the conclusion that 15 mid August is an important date for Bitcoin and our analysis, you can see it as a purple line on the chart.
I personally expect two scenarios for this 4th wave (retracement):
1️⃣ Scenario 1:
The red line on the chart. The price will make an upward movement to the gray and yellow resistance and near our light blue trend-line, just like our previous retracement spoken above. I expect it to see this high peak around mid August as our important time pivot. Because of a bearish flag it can leads the price to our final bearish (5th) wave to the red and yellow support area around $12,000 - $14,000. That point will be be dip of Bitcoin in my view and I expect some consolidation before rise, but I will buy in that dip. NOT A FINANCIAL ADVICE!
2️⃣ Scenario 2:
The green line on the chart. The price will make a slow downward movement to our red support (Around our purple time pivot). This will be a very bullish sign for me, because it shows that the bears are getting weaker. I personally open long positions with leverage in the dip if this scenario happens. Again, NOT A FINANCIAL ADVICE!
I'll have expect a smaller consolidation before rise in comparison to Scenario 1.
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Don't forget to hit the like button if you liked the analysis and leave any questions you got in the comment section, I'll answer them all💓
What do we see in the chart❓
There are two strong bearish movements both took 11 weeks and also there is a 9 weeks upward retracement in the between.
The price is now in the 4th wave of the main bearish movement and it is a retracement. I expect it too take 9 weeks from the beginning as well. It reaches us to the conclusion that 15 mid August is an important date for Bitcoin and our analysis, you can see it as a purple line on the chart.
I personally expect two scenarios for this 4th wave (retracement):
1️⃣ Scenario 1:
The red line on the chart. The price will make an upward movement to the gray and yellow resistance and near our light blue trend-line, just like our previous retracement spoken above. I expect it to see this high peak around mid August as our important time pivot. Because of a bearish flag it can leads the price to our final bearish (5th) wave to the red and yellow support area around $12,000 - $14,000. That point will be be dip of Bitcoin in my view and I expect some consolidation before rise, but I will buy in that dip. NOT A FINANCIAL ADVICE!
2️⃣ Scenario 2:
The green line on the chart. The price will make a slow downward movement to our red support (Around our purple time pivot). This will be a very bullish sign for me, because it shows that the bears are getting weaker. I personally open long positions with leverage in the dip if this scenario happens. Again, NOT A FINANCIAL ADVICE!
I'll have expect a smaller consolidation before rise in comparison to Scenario 1.
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Don't forget to hit the like button if you liked the analysis and leave any questions you got in the comment section, I'll answer them all💓
Trade active:
Time Pivot has worked as expected, now it's time for the price the decide if it wants to go upward through the bullish channel to our high targets or breaks it downwards and head to red support area.
It all depends on if the price can hit a lower low (Lower than previous 17-18 low).
It all depends on if the price can hit a lower low (Lower than previous 17-18 low).
