BTC is getting ready to test $7000 - $7100

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This is an update to my previous idea on BTC here:

As you can see, BTC is following the playbook nicely. Next we’ll see a corrective wave towards the 7900 range which we should get denied and we should get a last and final impulse wave down to about 7100 or lower to complete this wxyxz falling wedge, which should also complete the larger WXYXZ triple combo.

Let’s see how we fare

Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!

Kinashi-San

*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*

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ملاحظة

Since we've been using the previous wave as resistance, I've updated (x)'s resistance here

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ملاحظة

As we trend towards the .786 retrace of 7200, I'm going to put this out there since this is definitely a possible scenario. Be cautious and stay safe, always. Much love

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ملاحظة

A question I get asked a lot is when will this correction be done with. Well, with the help of fibonacci time, we see that the 2 major corrections since the beginning were approximately 0.618 of the trend preceding it. So if 0.618 is the number, then we shouldn't expect anything less than September 2019.

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ملاحظة

Well well, here we are with BTC at 7K as expected but way ahead of schedule. Are you in a hurry to go somewhere BTC?

If you observe any sort of technicals, you should at least reverse right now. Pick one

1)The “d” leg of a triangle consolidation for a push towards 3K


2) The “e” leg of a completed triangle 4th wave in this intermediate cycle


3) The “a” leg of a zig zag that will likely terminate at around 3K


4) Even without knowing the past or Elliot Waves, we see a descending wedge that’s destined to exit the wedge with a reversal.



5) We also have a divergence in RSI in the image above

So what will it be BTC? Will you be nice and observe technicals for once or will you kick us in the balls and go straight to 4800?



We. Shall. See.

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ملاحظة

Correction:

2) The “e” leg of a completed triangle 4th wave in this intermediate cycle

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ملاحظة

Current mood:


1) Bullish hidden divergence
2) Bullish continuation flag
3) Ready to break:

9D EMA


200H MA


4H RSI Resistance