BITCOIN - correction targets

dreambigdobigger (27)in #bitcoin • 7 years ago

BITCOIN - correction targets

Now that Bitcoin was not able to breach the resistance line we have two very probable scenarios to look out for!

This is wave 1 of a set of 5 waves, which would mean that our correction target would be most likely around the 0.5 fib level (0.382 if extremely bullish)
We are at the start of an E wave to complete an ABCDE bullflag, where we would get one more even lower low

Screenshot (82).png

Either way, both of these primary scenarios are invalidated if the resistance line is breached with conviction (which I do not see happening)

An upvote would be very much appreciated. Thank you!

#dreambigdobigger

#cryptocurrency #chartanalysis #ta #dreambigdobigger

7 years ago in #bitcoin by dreambigdobigger (27)

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sowrov (24) 7 years ago

Great news for me..love bitcoin! Tnx for share

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dreambigdobigger (27) 7 years ago

But I am not bullish on it for the short term I hope you got that! I tried to be very clear about that! :)

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troiano9 (27) 7 years ago

BTC just dipped below 11k, need it to break 12,500 to make a big run

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dreambigdobigger (27) 7 years ago

Well, I don't see that happening right now. For now we are in correction mode again!

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dreambigdobigger (27) 7 years ago

I might consider a quick short right now

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