Hi folks, this is another update for BTC. As you know from my another analysis, I predicted the 10k to be the end of the uptrend. The price literally touched this level and went down. What´s gonna happen now is a real question and the situation is very unsure. We are on the support level of the trend, so you need to check the situation very closely.
In my opinin we can retest the white trandline (so level lik 9700) and than is th direction down to 7k levels. But what we don´t know yet is if this was:
a) 1st wave of an uptrend and this will be pullback (wave 2) - in this case we would get only 7k levels and massive uptrend afterwards
b) this was only correnction of the downtrend - in this case we are going under 6k
By the sentiment I would even say this could be a 1st wave, even if it would be very unhealthy for BTC, because the cycle would be totally unfinished. But people want to push it upwards really.
Anyway, short term longs may be placed here with a target of 9700-10000 USD. Mid term is short view. EW fails if we break through 10100 USD.
Thanks for checking this, please don´t forget to hit like and follow button if you want to get such ideas in future! :)
In my opinin we can retest the white trandline (so level lik 9700) and than is th direction down to 7k levels. But what we don´t know yet is if this was:
a) 1st wave of an uptrend and this will be pullback (wave 2) - in this case we would get only 7k levels and massive uptrend afterwards
b) this was only correnction of the downtrend - in this case we are going under 6k
By the sentiment I would even say this could be a 1st wave, even if it would be very unhealthy for BTC, because the cycle would be totally unfinished. But people want to push it upwards really.
Anyway, short term longs may be placed here with a target of 9700-10000 USD. Mid term is short view. EW fails if we break through 10100 USD.
Thanks for checking this, please don´t forget to hit like and follow button if you want to get such ideas in future! :)