cnt_trading

cnt_trading

CAKEUSDT just ended wave 4 of lower TF impulse wave huge possibility for upside action. Target 3.30, stop 2.26

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A and B corrective waves ended, C wave is forming, there is Long opportunity. 1,68 of A wave is around upper trendline of channel, so that zone is our target.

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As I've mentioned in my previous post BTCUSDT ended 4th wave of Cycle degree. The fifth wave has started since June 7th. We can expect the fifth wave of Cycle degree to be an impulse wave ((1)(2)(3)(4)(5) in graph). (3) wave is an impulse (i), (ii), (iii), (iv), (v). If it ended today we could expect corrective wave (a)(b)(c) in the beginning of the next...

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4th wave might come to an end. The 5th wave and new lows might be on the way.

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BTCUSDT is forming ending diagonal pattern to end 5th impulse wave, after that corrective A wave is expected.

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If B corrective wave is finished we could expect upside C wave to the 47500 level resistance zone.

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BTCUSD might just ended 5th Elliot wave and broke old resistance trendline. Is this downtrend is over? If the price won't go under the trendline, some upside action might happen with C counter trend wave.

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BTC might began forming 4th correction wave in the downtrend. Resistance level might be around 44000 level, where 50% fib level of previous wave is and trendline. After resistance level is reached BTC might continue to new lower lows below 40000 level.