Bullish BITCOIN Is Aiming for 5,200 USD - Bears Are On Holiday!
Dear Friends!
1-5 Elliott Waves Up after we got my reversal at exactly 3,224 USD (on the point - kinda lucky ) - We have Regular Bearish Divergence, which confirms a retracement. Expect something like what I have illustrated for you. Just be aware of, that we don't yet have any confirmation on what corrective structure we will get - it could be ABC ZIG-ZAG, ABC Flat, ABCDE Triangle or a combination.
We have a lot of support at 61,8 % retrace. But it's more likely we will restart our new Elliott Wave Cycle already at 50 % retrace.
Hereafter we will aim for the end of the B Wave at 5,200 USD - we have very hard resistance at 4,200 USD though.
Let's see!
D4 <3
1-5 Elliott Waves Up after we got my reversal at exactly 3,224 USD (on the point - kinda lucky ) - We have Regular Bearish Divergence, which confirms a retracement. Expect something like what I have illustrated for you. Just be aware of, that we don't yet have any confirmation on what corrective structure we will get - it could be ABC ZIG-ZAG, ABC Flat, ABCDE Triangle or a combination.
We have a lot of support at 61,8 % retrace. But it's more likely we will restart our new Elliott Wave Cycle already at 50 % retrace.
Hereafter we will aim for the end of the B Wave at 5,200 USD - we have very hard resistance at 4,200 USD though.
Let's see!
D4 <3
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Here is the bigger picture!
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We will DROP soon!! As you can see from a classical charting point of view we are now forming a bear flag, which most likely will take us down, which our Elliott Waves also tell us.
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Boom! Drop, drop!!
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Have confirmation on our structure now - most likely an ABC Zig-Zag with a A as a leading diagonal.
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I thought we would get a bigger retracement and needed that ABC-correction. Instead I got tricked and we got an extended 5th wave. We slammed our head into the resistance zone Ive been talking about.
We should go up a bit more since we are on the 4th subwave but its questionable due to the hard resistance, so we might get a truncated 5th sub wave AND then we need the ABC correction.
We should go up a bit more since we are on the 4th subwave but its questionable due to the hard resistance, so we might get a truncated 5th sub wave AND then we need the ABC correction.
