Btc Wave Count Bearish.
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As I see the charts I'm trying to share kindly pay attention to these signs as follows:
1. RSI Divergence (Bearish).
2. Slightly higher than 100% target reached for wave c of b.
3. If it was wave 3 of a bullish count then it should have reached the minimum target 80k which would be at 1.618% to be considered as wave 3 otherwise it was wave 5 of 1 of 3 or just wave 1 and should go at least that means the minimum for wave 4 correction would be 32.8% which gives me a chance to go short with that much of rr but if that's just 1 finished of bullish then it should go at least below 50% or 61.8% that would be awesome indeed.
4. But if that was the end of wave c :o uh oh.... Holy cow.... Then 100% of the whole wave b would b vanished. I'm ignoring the fact that it can be an extended flat which gives me more than 100% target means sth lol. I'm counting it as a running flat expecting just the 100% which u can see on the chart above.
5. I've never seen volume in this whole move up supporting the price that's why I'd considering my bearish count and have been seeing the divergences since two weeks.. So.. Anyways.
6. I see support of the volume now. Considering the fall has begun already and have counted easily 5 wave on lower tf and at the time of me typing all this we have already began wave 5 of 1 or it can be wave 1 of wave 1 :o because this fall may be huge with extensions just like we saw extended wave c of b which may be ended as per my count.
7. I see low volume specially at the top while the price was climbing after breaking the ath which indicates that it was the end of wave 5 as wave 5 has no supporting volume.
8. Wave 1 also doesn't have volume but what's the point then if the volume of wave 5 and wave 1 is same? Lol it's a riddle for u hidden in there for u guys.
9. I'll be optimistic and i know wave 3 is where the volume shows and with the up correction after this wave 1 if still no volume support seen while price climbing up as wave 2 of 1 then it can fall as wave 3 or c even if the count went as wave abc opposing the bullish count which gives me at least 32% of the recent bullish wave recent ath.
10. I'm shorting it already and it's not a financial advice i repeat its just because i love charting and trading sharing my ideas to protect u from the pain even if u don't want to trade.. Please be very very careful.
11. The price is back after bullish channel fake breakout which is good for the sake of this count even better and I almost forgot to mention.. The price broke the trendline of last wave up impulsively in 1h and corrected as confirmation for more downside u can see urself.
Thank you so much.
1. RSI Divergence (Bearish).
2. Slightly higher than 100% target reached for wave c of b.
3. If it was wave 3 of a bullish count then it should have reached the minimum target 80k which would be at 1.618% to be considered as wave 3 otherwise it was wave 5 of 1 of 3 or just wave 1 and should go at least that means the minimum for wave 4 correction would be 32.8% which gives me a chance to go short with that much of rr but if that's just 1 finished of bullish then it should go at least below 50% or 61.8% that would be awesome indeed.
4. But if that was the end of wave c :o uh oh.... Holy cow.... Then 100% of the whole wave b would b vanished. I'm ignoring the fact that it can be an extended flat which gives me more than 100% target means sth lol. I'm counting it as a running flat expecting just the 100% which u can see on the chart above.
5. I've never seen volume in this whole move up supporting the price that's why I'd considering my bearish count and have been seeing the divergences since two weeks.. So.. Anyways.
6. I see support of the volume now. Considering the fall has begun already and have counted easily 5 wave on lower tf and at the time of me typing all this we have already began wave 5 of 1 or it can be wave 1 of wave 1 :o because this fall may be huge with extensions just like we saw extended wave c of b which may be ended as per my count.
7. I see low volume specially at the top while the price was climbing after breaking the ath which indicates that it was the end of wave 5 as wave 5 has no supporting volume.
8. Wave 1 also doesn't have volume but what's the point then if the volume of wave 5 and wave 1 is same? Lol it's a riddle for u hidden in there for u guys.
9. I'll be optimistic and i know wave 3 is where the volume shows and with the up correction after this wave 1 if still no volume support seen while price climbing up as wave 2 of 1 then it can fall as wave 3 or c even if the count went as wave abc opposing the bullish count which gives me at least 32% of the recent bullish wave recent ath.
10. I'm shorting it already and it's not a financial advice i repeat its just because i love charting and trading sharing my ideas to protect u from the pain even if u don't want to trade.. Please be very very careful.
11. The price is back after bullish channel fake breakout which is good for the sake of this count even better and I almost forgot to mention.. The price broke the trendline of last wave up impulsively in 1h and corrected as confirmation for more downside u can see urself.
Thank you so much.
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