First, I have to say sorry for the busy chart (BTCUSDT), but my chart needed these lines. Please spend a few minutes on it.🙏
Location: BTC is on Corrective Structure (Zig zag 5-3-5) for about 51 days (From 64795$ until LIVE price) and I think that this correction will take more time from us (maybe 2 months, just prediction).
My idea: still, BTC is on microwave 4 of Main wave C. as you know, one of the shapes of wave 4 is a triangle. I was able to find the 3 main points of the triangle A-B-C (Contracting Triangle). Point C has found with Bearish Gartley Harmonic Pattern + 78.6% Fibonacci (Point A) until (Point B).
For finding Point D, we have to concentrate on correcting microwaves (a-b-c) that are on the way to point D, I was able to find Bullish Crab Harmonic Pattern on the end of microwave a. microwave b can be around 37040$ or 37960$.
I think that Point D can be around 35698$ == 61.8% Fibonacci (Point B) until (Point C).
I have three Scenario :
Scenario 1: when the price arrives to Point D, it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave 4 of Main wave C was at Point C + microwave 5 of Main wave C has started.
Scenario 2: when the price arrives to Point D, then the price goes up until Point E. Point E can be a Critical Point for us (It is the end of microwave 4 of Main wave C), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes DOWN at Point E, we can say that microwave 5 of Main wave C has started.
Scenario 3: when the price arrives to Point D, then the price goes up until Point E. Point E can be a Critical Point for us(It is the end of microwave 4 of Main wave C), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes UP at Point E, we can say that BTC will go UP by 5 new impulsive waves.
My Suggestion: please do not buy Coins for Midterm and Long-term investment until the market finds a way.
Do not forget to put Stop loss for your positions (For every position you want to open)
Please follow your strategy, this is just my idea, and I will be glad to see your ideas on this post.
Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe.
Good luck
Location: BTC is on Corrective Structure (Zig zag 5-3-5) for about 51 days (From 64795$ until LIVE price) and I think that this correction will take more time from us (maybe 2 months, just prediction).
My idea: still, BTC is on microwave 4 of Main wave C. as you know, one of the shapes of wave 4 is a triangle. I was able to find the 3 main points of the triangle A-B-C (Contracting Triangle). Point C has found with Bearish Gartley Harmonic Pattern + 78.6% Fibonacci (Point A) until (Point B).
For finding Point D, we have to concentrate on correcting microwaves (a-b-c) that are on the way to point D, I was able to find Bullish Crab Harmonic Pattern on the end of microwave a. microwave b can be around 37040$ or 37960$.
I think that Point D can be around 35698$ == 61.8% Fibonacci (Point B) until (Point C).
I have three Scenario :
Scenario 1: when the price arrives to Point D, it can break the lower line of our triangle, and then the price starts to go down, so the end of microwave 4 of Main wave C was at Point C + microwave 5 of Main wave C has started.
Scenario 2: when the price arrives to Point D, then the price goes up until Point E. Point E can be a Critical Point for us (It is the end of microwave 4 of Main wave C), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes DOWN at Point E, we can say that microwave 5 of Main wave C has started.
Scenario 3: when the price arrives to Point D, then the price goes up until Point E. Point E can be a Critical Point for us(It is the end of microwave 4 of Main wave C), better, I had to say that market will decide to go UP or DOWN (UP will make my Scenario 3//DOWN will make my Scenario 2). If the price goes UP at Point E, we can say that BTC will go UP by 5 new impulsive waves.
My Suggestion: please do not buy Coins for Midterm and Long-term investment until the market finds a way.
Do not forget to put Stop loss for your positions (For every position you want to open)
Please follow your strategy, this is just my idea, and I will be glad to see your ideas on this post.
Please do not forget the 'like' button :) & Share it with your friends, Thanks, and Trade safe.
Good luck
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🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.