BITCOIN: at the Key Resistance trendline...or What to expect now?
As I said yesterday, the Bull Flag Pattern indicated the continuation of the trend up:
We are approaching to the Mid-Term Resistance, slowly but surely and for that, BITCOIN has traced a path which I want to share with you in Elliot-Waves terms.
The current movement can be seen as a 5-wave impulsive wave EW count:
- So, what I think BITCOIN is doing right now is to complete the 5th wave of an impulsive subcycle, drawn as Green-Dark line.
- This 5-wave green-dark line compounds the 3rd wave of a bigger order 5-wave cycle up:
- as you can see the (5) in dark green is the (3) in Blue
What does it mean?
Well, if the count is fine, it means that BITCOIN should go even upper, very likely crossing the Mid-Term Resistance and, immediately after, it should correct forming the (4)th wave in blue... again back below the 7600USD , but not so far... I guess...
Once corrected, BITCOIN should rise again forming the 5th wave in blue, which I expect to touch 9000 USD and so confirm the reversal.
REVERSAL CONDITION: Break the MID-TERM Resistance (Dashed-dark blue line in the chart, 7900USD). (be careful because BTC will correct immediately after)
Enjoy Cryptoland!!!
*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.
Posted at TIMM
Nice TA @toofasteddie!
Thanks master ;-)
Master? Hardly. ;-)
Impressive Dogi at the 1hr chart
And the same time window at the 1 min chart
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To support your work, I also upvoted your post!
You have my vote, be careful, I will audit you ;-)
https://steemit.com/steemit/@toofasteddie/auditing-my-witness-let-s-do-our-duty-v3
Your point of view is compromising 👏👏👏
Thanks
😇😇😇😇
@toofasteddie, you are interesting to read!