Possible Bitcoin bottom?
Hey Trader,
please see my current idea on BTC, where my count suggests a possible reversal of the bearish trend. This is due to the fact, that our wave C has finally managed to tab our first target of the 0.618 extension which is correlated to wave a.
The 0.618 target is a common target in a flat correction. A flat correction is characterized by a new high of wave B, which is the case here. However, we might go a little deeper. I expect that we might see BTC heading somewhere between 40.000 and 30.000 dollars before trend reversal in order to finish our Flat correction - it can but its not a must.
I suggest to start buying dips from here, since we have high chances of BTC reversing soon. The best strategy for this would be the martingale strategy in order to get an average price if its keep dropping. Once its reversing you may end up with big profits.
Keep in mind, this is no financial advice, just my technical expertise.
RT
please see my current idea on BTC, where my count suggests a possible reversal of the bearish trend. This is due to the fact, that our wave C has finally managed to tab our first target of the 0.618 extension which is correlated to wave a.
The 0.618 target is a common target in a flat correction. A flat correction is characterized by a new high of wave B, which is the case here. However, we might go a little deeper. I expect that we might see BTC heading somewhere between 40.000 and 30.000 dollars before trend reversal in order to finish our Flat correction - it can but its not a must.
I suggest to start buying dips from here, since we have high chances of BTC reversing soon. The best strategy for this would be the martingale strategy in order to get an average price if its keep dropping. Once its reversing you may end up with big profits.
Keep in mind, this is no financial advice, just my technical expertise.
RT
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