hi guys,
looking back to 2013 we can count the EW 3 waves until now and 2 corrections ( 4h wave correction happening right now ).
I think we are near the bottom here and will see continuation to the upside soon.
I think "this time will be a different" kind of cycle than the previous ones, mainly accounting for the 2013 trend line that was tested as resistance in 2017 and broken in January 2021. I do think we can assume that what we are seeing is the retest and maybe ( hopefully) the switch to support of the same trendline. If this will be the case we should see the macro wave B of the correction starting soon with a target in the 51.000$ area. After that, we will probably go down again and re-test the 24.000$ area ( not before ).
Before wave 5 happens we need to see a visit to the oversold area on the RSI. I think this will happen probably in jan/feb 2022 and would count as wave C on the macro.
Trade safely friends, this is not financial advice.
looking back to 2013 we can count the EW 3 waves until now and 2 corrections ( 4h wave correction happening right now ).
I think we are near the bottom here and will see continuation to the upside soon.
I think "this time will be a different" kind of cycle than the previous ones, mainly accounting for the 2013 trend line that was tested as resistance in 2017 and broken in January 2021. I do think we can assume that what we are seeing is the retest and maybe ( hopefully) the switch to support of the same trendline. If this will be the case we should see the macro wave B of the correction starting soon with a target in the 51.000$ area. After that, we will probably go down again and re-test the 24.000$ area ( not before ).
Before wave 5 happens we need to see a visit to the oversold area on the RSI. I think this will happen probably in jan/feb 2022 and would count as wave C on the macro.
Trade safely friends, this is not financial advice.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.