Bottom for bitcoin is coming

this wave count points to the 7000-7300 range as the end of bitcoin correction.
1. golden pocket for the wave 1 (Dec 15, 2018 - Jun 26, 2019)
2. 1.27 extension for the wave A (Jul 10, 2019 - Jul 17, 2019) of wave C (Jul 10, 2019 - Oct 2019)
3. 1.618 extension of the wave 3 (Aug 9, 2019 - Aug 16, 2019) of wave C (Aug 6, 2019 - Oct 2019) of wave C (Jul 10, 2019 - Oct 2019)
4. 200SMA daily, previous resistant (Apr 2019) and approaching a retest
5. 100EMA weekly, previous support (Jun 2018 - Nov 2018) and resistant (Apr 2019) and approaching for a retest
6. 200EMA 3-day, previous support (Jun 2018 - Nov 2018) and resistant (Apr 2019) and approaching for a retest
7. 20EMA monthly, previous support (Jun 2018 - Nov 2018) and resistant (Apr 2019) and approaching for a retest

تعليق:

the market touched the buy zone barely. this might be the beginning of wave 3, but I am developing a new analysis that is pointing at 7300 the end of downward wave 3 and now correcting a wave 4. base on this new analysis a move up to 9000-9500 might lead to another drop to golden zone for a wave 5 and finishing wave C. After I finish the analysis I will drop a new post.

تعليق:

just to point out my reasoning briefly; even though we see a reaction to the buy zone but none of the important moving averages are respected properly by this move. more details on this for later