Tommy_Heize

BTCUSD Two possible scenarios for Bitcoin

BITFINEX:BTCUSD   Bitcoin / Dolar
My perspective and position on the Bitcoin changes every fucking single day. Forecasting on future price of Bitcoin seems more difficult as time goes by. I brought up two possible scenarios for short-term future Bitcoin: one bullish and one bearish .

The chart that I have published above is the bearish perspective. Double top formation where wave 5 doesn't reach higher than wave 3, is strongly considered as a bearish wave counts. The temporary uptrend yesterday was maybe a dead cat bounce, which seems like a B wave of corrective wave. This means that we still have C wave waiting for us which I am pretty certain that is going to be a deadly one, causing massive amount of FUD.



This chart in the image above is my bullish perspective. The corrective wave is relatively located at higher position than the bearish one. For this case, the uptrend started from yesterday should be a new impulsive wave starting a new wave cycle.

Honestly, considering the recent downtrend momentum, there is slightly more probability that my bearish wave count is correct. The impulsive wave is just not strong enough, I think. But as you all know, I frequently missed my targets lately, so please don't count your bet on me.

Thank you.
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