BTC: My 2 year trading plan TP of 90k before end of 2023
From 65k down, BTC only came down to the green Pitchfork line (29k) & bounced back up to make a new high(69K).
WAVE A down: However, it was not able to reach the top side of the fork & was sold back down from 69k. It stopped again consolidating along the green line but I think this time, the green line wont be able to stop it.
WAVE B up: Zooming out there seems to also be a big wedge. BTC fell out, retested it but was rejected. There was a little bounce now from the green pitchfork line due to oversold RSI. BTC may go back up to retest the 49k to 51k impt FIBONACCI resistance zone which incidentally is also the intersection of the the lower wedge & the red dotted median line of the Pitchfork.
WAVE C final wave down to complete the medium term EW cycle.There will be a lot of whipsaw at the median just like in the past but BTC will ultimately be rejected down again & this time there will be a lot of buyers waiting at the lower side of pitchfork. (Last chance to buy BTC below 30k)
NEW HIGH in 2023: my 1.618 FIB EXT target will be 90-91k before end of 2023.
Not trading advice but I hope this helps you to see a different scenario.
Your comments & opinions are welcome coz I may be wrong.
May the MARKET be with you always!
WAVE A down: However, it was not able to reach the top side of the fork & was sold back down from 69k. It stopped again consolidating along the green line but I think this time, the green line wont be able to stop it.
WAVE B up: Zooming out there seems to also be a big wedge. BTC fell out, retested it but was rejected. There was a little bounce now from the green pitchfork line due to oversold RSI. BTC may go back up to retest the 49k to 51k impt FIBONACCI resistance zone which incidentally is also the intersection of the the lower wedge & the red dotted median line of the Pitchfork.
WAVE C final wave down to complete the medium term EW cycle.There will be a lot of whipsaw at the median just like in the past but BTC will ultimately be rejected down again & this time there will be a lot of buyers waiting at the lower side of pitchfork. (Last chance to buy BTC below 30k)
NEW HIGH in 2023: my 1.618 FIB EXT target will be 90-91k before end of 2023.
Not trading advice but I hope this helps you to see a different scenario.
Your comments & opinions are welcome coz I may be wrong.
May the MARKET be with you always!
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