Bitcoin is proving it has taken off?
Last time I showed the bearish case with a level of 6000 - being the price level, that will invalidate the wave 4 of the downtrend, once price overlaps this it.
If someone wants to project the potential growth trajectory of BTC from where we are now, it is quite likely that the larger correction has completed as shown on the chart.
If this is the case, we are now in the early beginning of a huge and long-lasting uptrend impulse.
Interim goals are as follows:
wave (of a larger wave 1) should break the wave E of a triangle - dotted line
Meanwhile wave (iii) of this w should provide the overlap at the price level, invalidating the continuation of the larger downtrend (6000)
If you are familiar with the Elliott wave principle, you may position the current move within a senior wave structure. It is very promising.
Relying on this principle, we may project the next target of 12000. Again, this will be the level for the wave 1@ of the more senior wave.
Be patient. This coin has a lot of space to move to the upside. But let us eat the elephant piece by piece))
Also, please bear in mind: waves 4 often turn out as a very complex structures. EWT provides the framework, with respect to which the correction may have max triple combination. We can distinguish so far only a part of that (WXY).
But every time price goes down, we have to identify appropriate price action signals to buy, otherwise the price will go without you.
If someone wants to project the potential growth trajectory of BTC from where we are now, it is quite likely that the larger correction has completed as shown on the chart.
If this is the case, we are now in the early beginning of a huge and long-lasting uptrend impulse.
Interim goals are as follows:
wave (of a larger wave 1) should break the wave E of a triangle - dotted line
Meanwhile wave (iii) of this w should provide the overlap at the price level, invalidating the continuation of the larger downtrend (6000)
If you are familiar with the Elliott wave principle, you may position the current move within a senior wave structure. It is very promising.
Relying on this principle, we may project the next target of 12000. Again, this will be the level for the wave 1@ of the more senior wave.
Be patient. This coin has a lot of space to move to the upside. But let us eat the elephant piece by piece))
Also, please bear in mind: waves 4 often turn out as a very complex structures. EWT provides the framework, with respect to which the correction may have max triple combination. We can distinguish so far only a part of that (WXY).
But every time price goes down, we have to identify appropriate price action signals to buy, otherwise the price will go without you.
Nota
BTC so far moves as expected. Meanwhile I closed part of the trade and reallocated cash to XRP. There the potential is absolutely huge, despite the risk of further couple % downmove.Nota
Triangle wave E has been broken.First wave ok - as expected
Nevertheless, after a local 4th wave that is expected to statt, we will likely observe another higher high, after which I will wait for the decent pullback in the second wave, for the basic length of 62% of w2
Nota
Sorry, of the wave 1 (last word of the post :))
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.