BTC - Long and then Big Short
Hi everyone,
Posting an update view of the bearish diametric idea, I think I was a little too bearish on it before and we probably have one more wave up.
There are two possibilities for the end of Wave-F I have on here, yellow and green crosspoints. One at $9100 and the other at around 8k. The first would be if Wave-C takes AB/2 time and the second being AB time for this correction.
Afterwards we can expect another ABC up into Wave-G, which will end below the white trendline, possibly making a new ATH for BTC.
Good luck everyone!
Not trading advice (of course).
Posting an update view of the bearish diametric idea, I think I was a little too bearish on it before and we probably have one more wave up.
There are two possibilities for the end of Wave-F I have on here, yellow and green crosspoints. One at $9100 and the other at around 8k. The first would be if Wave-C takes AB/2 time and the second being AB time for this correction.
Afterwards we can expect another ABC up into Wave-G, which will end below the white trendline, possibly making a new ATH for BTC.
Good luck everyone!
Not trading advice (of course).
Nota
Nota
Price are approximate, timing is more critical here... looking at 8 AM July 17th UTC or midnight, July 24th UTC.Nota
Personally I think the first target is most reasonable, but the second is a backup in case it really wants to dump.Nota
Some potentials for the end of G, I think likely along one of these trendlines (orange), and at one of the major resistances from the last bullrun (red). The top being the ATH of the last bullrun.Nota
Zoom with markers so that you can see the prices... Nota
One more option that is lower - it just depends how slowly the upwave goes tradingview.com/x/bdsfCCub/.Nota
Last post before I stop spam posting - a few targets which stand out as most likely base on when I think Wave-G should end in time. 15.8k, 17.2k and 18k.Nota
Final thought, I adjust the lower target for Wave-C to 8k, it lines up with a better support from the last bullrun and align with the midline of the channel Done. Promise.
Nota
Last one... promise this time. 8k Makes a lot of sense. The last correction we saw but C time at AB time, which is where that would happen. 9.1k is a possibility, but I think this might be a better choice.Nota
Nota
Looking at Stoch RSI, 9100 is a definitely possibility. If we do go to 8k though, the weekly will likely reset, and we will be set for a big upwards move.Nota
$9200 is actually channel bottom, so that might be more appropriate too.Nota
Of the larger channel, anyways Nota
...having said all of this, there is still a possibility that this is an impulsive series beginning. I was expecting a drop to around 6-7k in the event of Wave-2 happening, which if I use channels I get a price of around 7k for C being AB time. Will post a chart in a second,I channeled the entire upmove and then also the correction, and the midlines align with some strong support/resistance lines making me think that that could be the case.Nota
Sorry, this may be a bit difficult to see Nota
So unfortunately, right now this is probably a bit useless (sigh), but at least it give three possibilities for where we may go, depending on the strength of the dump.Nota
Drawn a bit better/more exact so that all channel intersect at the same point Nota
If it is this new case, I think we will see a drop around C=AB/2, as there are two channel midline intersections at that point... so I highly recommend not to buy my original $9100 estimate. Sorry guys... hopefully caught this in time, I'm really leaning towards this being the case - too much is lining up now.Nota
The other possibility is we go sideways until July 21 at 8 AM and then we have the drop, when we reach the channel top of the smaller channel approximately.Nota
Please see my other ideas here, as these ideas are all posibilities and use BLX historical BTC data so I can get a reasonable count finally.Ideas here:
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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.