BTC (Y20.P4.E21).Most likely scenario

8 Kas 2020

Hi All,

As long as BTC stays below the green box level, then we can assume that this impulse is part of the correction wave impulse of ABC.
So we are looking at potentially dropping down to the strong support zone of 13800 as per charts below.
This has confluence on a number of factors, including the daily 21 EMA.
Observe the charts below.

I have my level of where B is as for further downs, or on the daily, it looks like 100 EMA.

Note on the DAILY below, we have confluence with previous high back in June last year equally strong support in a week ago.
The bearkdown below point A or that trend line will open the door to 13800 for sure.


Bigger picture


If however we see the weekly indicators cross over, it then opens the door to a move to the weekly 21 EMA



Please give me a like or tick for this post.

Note, this is a continuation of the previous post, link below.


Regards,
S.SAri

8 Kas 2020

Not

Note how the weekly was the resistance level. In addition, the weekly candle today will close in 1.5 hrs.

9 Kas 2020

Not

The BAT harmonic to support my theory. Mind you, I have been following a few seasoned traders and they are getting it wrong as well. This market is surprising many.

11 Kas 2020

Not

looking for this level to break... it will happen. All looks good.
While BTC goes slow, you will notice the ALTs are starting to get momentum.
Just like last time, this will slow BTC down and go sideways for some time. This is my thoughts for now.