Cryptocurrencies Strategy Trends

BITCOIN: That’s a breakage!

I told you a couple of days ago!There was a clear decision point but the sustained volume and the RSI was suggesting a sudden price action which I bet for the upwards sense.But now we are closer to a major correction since the count has varied a little. Here I am aligned more or less with @ew-and-patterns .In my opinion there is a valid count that will bring us to see BITCOIN at 9400 USD nowadays:

Can you see those Roman numbers in blue? That sub-count is on play right now. It will form the last wave (the 5th) of the 1st Upwards cycle after having bottomed. I am being optimistic here and I am using the projection of the symmetrical triangle in order to place the target, we could see BTC now reaching 9400 USD before a major correction.A bigger picture is needed in order to understand better the situation, below the daily chart:

Can you see it? Elliot Waves does not lie here. This seems to be very close to the end of the 5 waves Up, now BTC should correct…. so, an update of stop-loss and re-entries are required in order to be ready to get the most.And remember that those big waves Up are only forming the 1st big wave of super Bull cycle 😉

Enjoy!


@toofasteddie



*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.

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