Bitcoin correction inevitable

٢٦ يناير

Time to Chart the King!

If you've checked my recent ideas, you'll find onefrom 11 December 2022 titled "Run it Back Turbo." Check it out!

Press the play button to see how I've pinpointed the perfect bottom!

Now, let's dive into why I've decided to close my trade:

1. Wave Count: I've marked the 5 waves we've seen so far.
   
2. Wave Comparison: Using the Date & Price Range tool, I've compared the size of wave 3 to wave 5. Wave 5 typically matches or exceeds wave 3, and you can see the King has done just that. How much more do you need to satisfy your greed?
   
3. ABC Correction: We're expecting an ABC correction where:
   
   

   A Wave: Should hit the 0.382 Fibonacci level drawn from the bottom of the count to the current wave 5 peak.
   B Wave: Logically, this would reach the 0.236 Fibonacci level.
   C Wave: Expected to extend to the 0.618 Fibonacci level.

4. Fibonacci Retracement for Wave 5: If you draw a Fibonacci retracement just for the 5th wave, you'll see:
   

   The A wave should touch the 0.618 level of this measurement.
   The B wave goes to the 0.382
   The C wave, as usual, should retrace fully to the 1.000 Fib level, where it began.

5. CME Gap: Check out the 1-day chart below to see there's still a CME gap to fill on the way down.
   
6. Monthly Close: We're nearing the first monthly close of Q1. Take a look at the RSI; there's a clear bearish divergence forming.
   
7. Liquidity Clusters: The liquidity clusters below look enticing and are prime for grabs, essential for further upward movements. Remember, this market thrives on the ping-pong effect with short stop hunts and liquidation hunts, followed by the same to the longs, rinse and repeat.
   Here you see a freshly pulled LiqMap from The Kingfisher platform currently the only one I know of which can show you these clusters. As you can see we have a ton of liquidity to tap into before we can resume this bullrun!
   

Conclusion:

The King Needs to Reset!

No reason to be upset. Everyone needs a rest after such a run. We will resume our journey soon enough, reaching those higher targets sooner or later. See the bright side: we can sell now, load up at cheaper prices, and potentially make even bigger profits.

Follow me for updates to this idea and follow me on X for even more insights!

٢٦ يناير

ملاحظة

The fun might begin in the next few days with a drop to the 95K and close the monthly candle below this red trend-line.
Why do I think so? See the heat-map with those purple liquidity clusters at 95K ! Follow me on X for more insights! x.com/DogeDali!

٢٨ يناير

ملاحظة

I somehow forgot to ad my previous quick analysis/BTC idea which covered only the Wyckoff method:

Also see this simple chart with a couple of indicators!