Bitcoin #BTCUSD - pessimistic scenario is unfolding -50% ahead!
Atualizado
After the BTCUSD cryptocurrency price hit the technical support level at $ 12,450 and rebounded slightly from below, $ 11,150, the wave (4) triangle scenario was invalidated. If the increase in volume causes the level of $ 11,150 to be broken again, the next target level for the price is the level of $ 9060.
The market is still in the corrective wave (4), which means that there is still a wave (5) to be done.. Nevertheless, the wave (4) must end first.
Reverse from the level of $ 11,150 and break of the level of $ 12,450 means a longer and more extended horizontal wave correction (4) in progress.
The market is still in the corrective wave (4), which means that there is still a wave (5) to be done.. Nevertheless, the wave (4) must end first.
Reverse from the level of $ 11,150 and break of the level of $ 12,450 means a longer and more extended horizontal wave correction (4) in progress.
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Almost there.Now there is time for a correction in sub-wave (4) and then a final push down.
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Still one more wave to the downside possible, but please watch the level of $12,717. Any breakout higher means the bottom is in!Nota
Impulsive scenario invalidated. Alternative scenario in play. The fifth wave to the downside is canceled.Nota
Impulsive bullish scenario invalidated. The market still moves in three waves. tradingview.com/chart/CxcPMGzc/
Nota
$ Bitcoin $ BTCUSDThe wave (B) high was set exactly at 38% Fibo and the market dropped in the next five waves to $ 10.028. In order to continue the decrease in an impulsive way, the price cannot now break the level of local resistance at $ 11,100.
Nota
BTCUSD is back in the channel as the 61% Fibo is providing the resistance. Too many scenarios right now, so the patience is needed. The option for a new low is still possible as well.
Watch $13,052 level for a breakout.
Trade ativo
The best scenario currently is an alternative count, where the peak of wave 4 is at the level of $ 3,200. From there, BTCUSD will most likely be falling in the form of a 5-wrench (Ending Diagonal) and thus will break the $ 9,151 level.Two inner sub-waves remained to the end of the wedge. The target for falls is the level of $ 8,600.
Nota
The market violated the 161% Fibo extension of the wave A at the level of $8,600 and currently is testing the lower trendline dynamic support around the level of $8,000. If this level will not make Bitcoin to bounce towards the level of $9,100 then the next projected target is seen at the level of $6,742. The overall complex corrective cycle looks completed anyway or is very close to termination.
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