BITCOIN: 5-waves down?

November 30 11:33 2018

From the two short term scenarios I presented a couple of days ago at this post “BITCOIN: Breakage confirmed and what to expect…“, I am sorry to tell that the alternative which fits better to the current situation seems to be still the Bearish One.


BITCOIN price did not manage to keep rising despite the “Double Bottom” and “Bullish Wedge” detected, but not triggered… so, seems that a final 5-3-5 Zig Zag correction is in process…

Having a look to the short term supports and resistance created the last days we may anticipate a possible end of wave 3 down to 3600 USD.

On that level I would expect hesitance and so a 4th but short wave upwards and a final 5th wave down which may be an Extended one since a Head and Shoulders Pattern seems to appear there.


As you can see, the 5th wave down could lead us to touch again below 3000 USD…

The good news related with this scenario is that after a 5-3-5 correction a new Bull run up may occur, which I hope…



*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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About Article Author


Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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