Bitcoin HODLer Edition, but click and read it first!

Hi friends, meet new bitcoin analysis.
Im looking for new forming Inverted Head and Shoulders pattern.

Technical analysis:
Now we are looking at Log Chart, to see Downtrend resistance which we just break in Linear chart, but it seems doesn't break in Log chart! So I started to dig more, to understand wave structure, and possible next movement.

Elliot Waves analysis:
Now we in 5 subwave of (1) wave, (1) is not completed yet, estimated wave 5 target is 12100-13360 zone. From this zone, we should wait for retracing in ABC correction (to complete bigger wave (1)-(2)).
On chart i showed the possible wave (2) retracement area, so be ready for this levels 10600 down to 7700 levels.

Second waves often retrace so much of wave one that most of the profits gained up to that time are eroded away by the time it ends. At this point, investors are thoroughly convinced that bear market is back to stay. Second waves often end on very low volume and volatility , indicating a drying up of selling pressure.

So what to do?
1. Sell part at top of wave 5.
2. Buy partially at levels near wave 3-4 (right shoulder), and if going lower, buy the rest.
3. HODL whole (3) wave.

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Stay tuned, Artem Shevelev
Giao dịch đang hoạt động: ABC started earlier than expected,
Short Trade:
Entry 10500-10600
Take Profit 1: 10100
Take Profit 2: 9500
Stop Loss: 11197

Giao dịch đang hoạt động: Short trade active
any update?
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update please
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We just finished the first wave of wave C of this minor correction. A tiny rally and then we start wave III of wave C
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Commodore3 Commodore3
@Commodore3, with the way things are going, it may go way beyond 9k
+1 Phản hồi
we have similar ideas
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You entered short too late, 11.6k was the best. And as of now you may be too early, since i think it will bounce higher than your entry.
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@Acel, till where it can bounce before going down?
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Acel umairceo
@umairceo, Its hard to tell but a plain guess would be 10.9k at best.
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@Acel, I don't think it can make there that;ll be a bullish signal if it goes back there
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Acel umairceo
@umairceo, peaked at 10915 @ 6AM UTC 22 FEB on Finex.
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