Hello cryptonians, nice to have you ,hope your doing well. Let me start by saying the last 24 hrs have been quite exciting and even more so when you have trades in play. The whales perfectly timed a liquidation of a record number of short contracts. When we see the shorts or longs at ATH we can expect a big player to come in and capitalise on the situation, which is what they did. This is the play BTC need to shock it into life.
So going back to early April, I had the 5 wave trajectory up to $9000. I always stated this will remain in play so long as we don't go below Wave 1 territory which was $6400 and must go higher than $7500. Please feel free to play my earlier analysis so you can check. I always said I do not follow other traders as a parrot saying it is going to $4000, but base my analysis on EWT, the data, market sentiment and psychology.
We are now in wave 4 retracing wave 3. However, just to note this the retracement will be very shallow . Why? The Wave 2 retracement was very deep almost 1:1, so as a Elliot wave rule, generally the second retracement will be opposite to that of the first. Now to the numbers for EW confirmation and failure in this formation. So a break above $8090 will confirm Wave 5 which can expect to go between $9200 and $9500. Sell orders need to be placed in that zone, to recapitilise on the correction. A break below the $7509 is a Wave 4 failure and a new count will need to be done.
Finally, I will state it as I have done on twitter before, we are not going to to test $4000,$5000 OR EVEN $6000 again. The low for this wave form was slowly going up but sits at $6500. It will not get back there this year. Whats coming up for the short to medium term? Expect a retrace back to $8000 and then a shot at the double top $12000k. Interesting little fact we are nearly back on track to $1000000USD by 2020 , take a look at the summary, fnordprefekt.de
I am happy to chat with you guys, and explain everything I have stated. I hope you enjoyed my analysis as much as I enjoyed making it for you. Please like , follow me on twitter for accurate news and updates. Be good take care.
So going back to early April, I had the 5 wave trajectory up to $9000. I always stated this will remain in play so long as we don't go below Wave 1 territory which was $6400 and must go higher than $7500. Please feel free to play my earlier analysis so you can check. I always said I do not follow other traders as a parrot saying it is going to $4000, but base my analysis on EWT, the data, market sentiment and psychology.
We are now in wave 4 retracing wave 3. However, just to note this the retracement will be very shallow . Why? The Wave 2 retracement was very deep almost 1:1, so as a Elliot wave rule, generally the second retracement will be opposite to that of the first. Now to the numbers for EW confirmation and failure in this formation. So a break above $8090 will confirm Wave 5 which can expect to go between $9200 and $9500. Sell orders need to be placed in that zone, to recapitilise on the correction. A break below the $7509 is a Wave 4 failure and a new count will need to be done.
Finally, I will state it as I have done on twitter before, we are not going to to test $4000,$5000 OR EVEN $6000 again. The low for this wave form was slowly going up but sits at $6500. It will not get back there this year. Whats coming up for the short to medium term? Expect a retrace back to $8000 and then a shot at the double top $12000k. Interesting little fact we are nearly back on track to $1000000USD by 2020 , take a look at the summary, fnordprefekt.de
I am happy to chat with you guys, and explain everything I have stated. I hope you enjoyed my analysis as much as I enjoyed making it for you. Please like , follow me on twitter for accurate news and updates. Be good take care.
