BTCUSD 2/5/2021: Long Term & Short Term
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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I'm still Long on: ADA, ATOM, KAVA, ETH, LINK & BTC. Position closed: COMP.
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Monthly Time Frame
Ever since Bitcoin was traded in the public, the price had skyrocketed with extreme gains in the past 10 years. For now, everybody is so excited on what price level they sell their coins in extreme gains. Looking at the Chart, Bitcoin is never been in a bear market for past 10 years as the price was supported by moving averages. It's really a bull market for the past 11 months. I do hope that the next 12 months is on the side of the bulls. Corrections or pullback is just normal cycle. Just trust your TA skills.
Here we go, the full detail in Elliot Wave. Since Bitcoin broke the 20K level, the price skyrocketed more than 100%. For now, there is no convincing sign on the weakness of this uptrend. Probably it may still go higher as Weekly and Daily Time Frame favors it. If it goes higher, the price may top at $ 62,936.63 or 0.618 Fibonacci. If it goes lower, the price may go as low as $ 19,988.08 or 0.382 Fibonacci. As you see in the chart, probably Bitcoin is now in wave 3 (Cycle) of wave 5 (Super Cycle) in this Monthly Time Frame. There is no sign that the trend is in wave 4 of wave 5 now. BUT based on historical price action in the Super Cycle Wave 3, wave 4 (Cycle) is just a month shallow retracement to EMA 9. On Super Cycle Wave 1, wave 4 is a 4 months dipper pullback to EMA 9. My Bull or Bear price for Bitcoin is staying above or breaking below $ 29,000. Probably $ 25,000.00 is the middle price. For Super Cycle Wave 5, it may top at $ 402,904.99. Sounds Crazy right? BUT in case of continuation it may go as high as $ 8,121,463.02. More Crazy?! I think I visit this TA one year from now.
Weekly Time Frame
On RSI & Stoch RSI - There is a potential forming a Bullish Divergence. As the price had already bounced to EMA 9 weekly.
Daily Time Frame
In the Chart.
4HR
Just be careful as it maybe tricky.
1HR
Tricky.
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Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_______
I'm still Long on: ADA, ATOM, KAVA, ETH, LINK & BTC. Position closed: COMP.
_______
Monthly Time Frame
Ever since Bitcoin was traded in the public, the price had skyrocketed with extreme gains in the past 10 years. For now, everybody is so excited on what price level they sell their coins in extreme gains. Looking at the Chart, Bitcoin is never been in a bear market for past 10 years as the price was supported by moving averages. It's really a bull market for the past 11 months. I do hope that the next 12 months is on the side of the bulls. Corrections or pullback is just normal cycle. Just trust your TA skills.
Here we go, the full detail in Elliot Wave. Since Bitcoin broke the 20K level, the price skyrocketed more than 100%. For now, there is no convincing sign on the weakness of this uptrend. Probably it may still go higher as Weekly and Daily Time Frame favors it. If it goes higher, the price may top at $ 62,936.63 or 0.618 Fibonacci. If it goes lower, the price may go as low as $ 19,988.08 or 0.382 Fibonacci. As you see in the chart, probably Bitcoin is now in wave 3 (Cycle) of wave 5 (Super Cycle) in this Monthly Time Frame. There is no sign that the trend is in wave 4 of wave 5 now. BUT based on historical price action in the Super Cycle Wave 3, wave 4 (Cycle) is just a month shallow retracement to EMA 9. On Super Cycle Wave 1, wave 4 is a 4 months dipper pullback to EMA 9. My Bull or Bear price for Bitcoin is staying above or breaking below $ 29,000. Probably $ 25,000.00 is the middle price. For Super Cycle Wave 5, it may top at $ 402,904.99. Sounds Crazy right? BUT in case of continuation it may go as high as $ 8,121,463.02. More Crazy?! I think I visit this TA one year from now.
Weekly Time Frame
On RSI & Stoch RSI - There is a potential forming a Bullish Divergence. As the price had already bounced to EMA 9 weekly.
Daily Time Frame
In the Chart.
4HR
Just be careful as it maybe tricky.
1HR
Tricky.
_____
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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