Bitcoin seems to be in DANGER! Worst case scenario is terrifying
I strongly recommend you not to go long for bitcoin these days. It shows the characteristics of bearish trend not a correction. Last drop from around 60000 to 30000 was 1.618 projection of previous drop which is typical projection of wave 3 not C which means being in an impulse down trend is more possible than being in an ABC form of correction.
Price immediately retraced above 0.382 percent of mentioned drop which could be end of wave 4. It may still go higher although it is very low possible based on H1 time frame.
The probable support zone for end of this possible down going impulse is shown on the chart by green box. A possible counter trend correction to 48000 is predicted and after that a terrifying down going wave may start.
As shown in the chart a trade above what labeled as wave 2 invalidates this worst case scenario.
Who knows? Bitcoin may see unbelievable targets and I emphasize that it is possible. Is it necessary to remind you the tulip mania?
My strong recommendation:
Do not go long for bitcoin these days unless you find any strong reason beyond technical and unless you know Elliott waves. Catching counter trend corrections is not so easy my friends.
Good luck every one and be careful !
Price immediately retraced above 0.382 percent of mentioned drop which could be end of wave 4. It may still go higher although it is very low possible based on H1 time frame.
The probable support zone for end of this possible down going impulse is shown on the chart by green box. A possible counter trend correction to 48000 is predicted and after that a terrifying down going wave may start.
As shown in the chart a trade above what labeled as wave 2 invalidates this worst case scenario.
Who knows? Bitcoin may see unbelievable targets and I emphasize that it is possible. Is it necessary to remind you the tulip mania?
My strong recommendation:
Do not go long for bitcoin these days unless you find any strong reason beyond technical and unless you know Elliott waves. Catching counter trend corrections is not so easy my friends.
Good luck every one and be careful !
Yorum:
Bitcoin lost 35000 again. 35000 is the low of wave B of 4 of A or 1. It means BTC is not looking good and more than likely goes below 30000 to the propsed target.
Yorum:
Bearish army is attacking 30000 support again? Can this defending line push up price? It will be lost eventually.
Yorum:
Is bitcoin able to escape from worst case scenario? Lets follow and see what happens.
Yorum:
Now ,BTC is making a new low and is attacking toward 30000 support again.It is not looking good at all.
Yorum:
Nightmare became true! I warned many people not to buy Cryptocurrencies. There will be a noticeable counter trend correction soon. It gives you a chance to go short. Try not to miss that.
