FTM on 5th wave heading to $1

6 thg 3, 2022

These are the counts I have come up with after a stressful month.
My price targets are shown in the green boxes with the 3 possible outcomes for the end of the 5th leg.

It can be truncated if we find a lot of bullish support near the previous bottom

6 thg 3, 2022

Giao dịch đang hoạt động

I took 25% of my profit at this support zone due to anticipation of the truncated 5th, because...crypto...
However, based on the counts we are meant to be in the 3rd wave of the 5th which should be aggressively bearish, so based on momentum and volume it will bring to light if this analysis invalidated

7 thg 3, 2022

Ghi chú

This is based on my over all view of BTC shown here

8 thg 3, 2022

Ghi chú

We seem to have heavy support at 1.30 which makes a double bottom and would still align with the truncated 5th wave.
I am still bearish on BTC however, and will keep the position open.

10 thg 3, 2022

Ghi chú

Has been a wild ride but it has broken an important support and as long as it trades below it on the higher timeframe, I do believe we will see $1

14 thg 3, 2022

Ghi chú

I am keeping an eye on BTC and important supports to be broken to further confirm the TP of $1, or even .60-.70 near the 1.618 TP.

However, at this time 38k on BTC was broken, retested, and then acted as support. If this level holds, then BTC WILL rise up and it may effect the analysis.

14 thg 3, 2022

Ghi chú

We broke out from the 38k mark (BTC) with bullish momentum, and on FTM we hit the 1 EXT. @ 1.04.

This could be a potential local reversal (correction) before another move down.