Let me start saying a few words about TA and trading. The few people in the comment section saying, that I change my mind all the time, doesn't understand the basic of TA. Sorry to say it - but that's a fact.
Let me be very clear, so hopefully everyone (most people) can understand it. When I keep making updates for you guys and are sharing my opinion on, what can happen and what is most plausible, it doesn't mean I also will trade this idea. Most of the times WE DON''T want to trade. I'm trying to educate people, and show how certain scenarios and patterns can play out,
So basically: Fxxx if I say it's more likely that we will go down to 6,400 USD before we will jump out of the . It happened already at 6,500. So what? It doesn't matter, because we were in a no trading zone at that moment. We will NOT make a trade BEFORE we get confirmation on a direction, which means, when we get the breakout.
And lastly: I still think we will go to 6k! I've said it in 2 weeks now - go and check that on my older charts. So I haven't change my overall mind. So for those of you who thinks that we will go down to 6k in a straight line with no corrections, pleeeease! My best advice for you guys is to stop trading - and I really mean it in the best way, because you will lose in the long run. We will have smaller corrections ALL THE TIME.
Ok, let us now take a look at the 4h BTCUSD Chart, and see why it will be a crazy day for Bitcoin!
We are still in an ABC-correction. Today I skipped the EW's for you guys, and try to look at it from a different perspective. As you can see we are in a big descending in purple.
So what will happen now? First of all we have huge resistance from the where we also have the EMA50 above our head. Just beneath us, we have P.O.C (Point of Control - thin black line), which also acts a strong support. So we are caught right in the middle of strong resistance and support. We don't have much room for maneuvering. But Bitcoin will soon be forced to make a decision.
I still believe 6k is the most likely scenario, but we first have to conquer the up 1 at around 6,4xx USD (dotted black line), which has been super strong so far.
THIS will indeed be a super exciting day, and I promise I will keep you updated!!
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It's a long uptrend line started back in July 2017.
It seems like we very soon will have a steep down trend! But let me be clear - it could be a bear trap, so be cautious.
D4 <3 Remember to give me a like, and have a nice day :)
So you better not hope for that :)
second important thing is we are in impulsive wave now to the down .. why ? bcz the correct wave count says that .
one more thing to notic : this is a convergance . which mean more down side .