BTC update: trying to find a perfect spot to buy!

Huge volume shows that Bitcoin does not want to stop the uptrend, so let's consider the most likely and obvious scenario for the further development of a bullish trend.

First of all, wave 4-5 is important for us, because from there we will be able to re-enter bullrun (if you have already sold BTC). First, we have 3 trend fibonacci grids:

• 1. From the wave 3-4
  
• 2. From wave 0-4
  
• 3. From the beginning of the Elliott cycle, where the point 0 is located to the apparent resistance of $12k set on March 5th, 2018.
  

I drew the key levels on the chart, where we can see a clear resistance at the $11k level and two strong supports in the $10200 and $10500 area.
Thus, the price is now at the resistance level, where, just, the oscillators show overbought and divergence by RSI, which is also a signal of strong resistance, so I dare to put here the point of completion of wave 2-3. Corrective wave, based on this scenario, will end somewhere in the region $10350, from where you can open a new long position with the target in the region of $12k for BTC.

However, if the price breaks through support, going into the zone below $10200, we can catch BTC near the level of $9600 - 9700, which may mean that the market is going into a difficult correction of a strong (as we all see) bullish trend. And in this case, we will look for a point to sell. But only if a breakthrough is not false.

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تعليق:

Look how oscillators are cooling off. After this you'll have to keep an eye on the chart closely.