BITCOIN: Bear Flag for the 5th wave

BITCOIN: Bear Flag for the 5th wave
December 26 20:24 2018

Since yesterday, BITCOIN has found some support at the 50% of the last rise retracement… however, counting waves at 1h-timeframe does not look that this level is going to be hold.

A fifth wave down still missing and I guess we are going to see it soon. My bet is that BITCOIN will land around 3550 USD which is the 61.8 FIBO level of the total retracement.

As I said in previous posts, this correction is very important in order to know if we are attending a reversal of the market or just a continuation of the BEAR Market, that’s why, I am more focused in small timeframes…

As a consequence of all this “micro” movements can be seeing in a larger scale (1 Day) as the formation of the 2nd wave in blue at the chart below:

If BTC manage to hold a higher low on the 2nd wave, it is very likely that we will see the end of the BEARS by March…

Take care.

@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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toofasteddie
toofasteddie

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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