BITCOIN: Trip to 6200 USD, 5-3-5 Correction
Elliot Waves count still valid and progressing towards the 6200 USD target.
Currently building what seems to be a 5-3-5 Zig-Zag correction in order to complete wave 4 as shown at the 4h Chart:
Red a-b-c correcting waves can be identified as 5-3-5 Zig Zag type using the 1Hour chart:
If this assumption is correct, we should see a drop towards the range of prices ranging between 4800 and 4600 USD on which I am laddering some buying orders.
That level of price would mean the completion of the 4th wave and the start of the upwards 5th towards the major resistance:
Below 4600 USD the only support available in order to hold BITCOIN avoiding a year lower low is placed at 4150 USD. Hopefully we will not see that level to be tested again.
Enjoy!
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
I'll try to convert some more FIAT following your idea, Eduard: thank you very much for the free consultation! 😜
Resteemed 🤗
With 50 and 200 day AMA about to converge, this looks like quite a bang either way...
yes, it can be explosive!
Are your orders ready? Don't forget some orders to fish the panic stop loss;)
In which of the senses, up or down? 😂😂
Posted using Partiko iOS
all!! buy flat orders as well!!! we waiting btc going $50K ;)
Curious if you are right about this!
We all would love to see BTC going back up again. It would be great to see it back above 5K. Then a new round of fomo could start!
Cheers,
Peter
I also would love to see BTC above 6K, because we are already above 5K... When using EW as a TA technique, it provides you possible scenarios to play with... The one I presented here is alerting you of a possible good entry point around 4800 USD before going towards 6000 USD ;-)
Silly of me. I was referring to the euro. But most of the world looks at the dollar value of course.
Posted using Partiko iOS
hehehe, it happened to me many times... disadvantages of being European ;-)
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