Bitcoin, Major Buy Zone and Target! Are we prepared in advance?
Zaktualizowano
Are we inside a major correction? Lets follow !
BTC more than likely has completed a wave cycle at 69000 USD on 1 Nov 2021. This wave cycle started at 1 Aug 2015 at 162 USD ! What does it mean? It means we are probably inside a major correction which can push down price to 26458- 34581 buy zone corresponding to 0.618 and 0.5 Retracements respectively!
Please note BTC has already made 0.382 retracement of mentioned cycle and this retracement is acceptable for this correction with respect to its place in wave cycle (wave 4) . Therefore, I will not be surprised if we see a new ATH without going lower although character of down going wave suggests that it probably goes to shown support on the chart.
As a guideline wave 4 of larger degree waves ends in territory of smaller degree wave 4 and usually terminates at it's end. This even makes our proposed support stronger !
It is worth to note there are some other alternative scenarios !. Interesting point is all those scenarios suggest the shown support as a strong one ! So, I just simply exclude those scenarios from chart to keep it clean.
If true, BTC will start an up going wave up to 78000-94000 USD after completion of correction. This proposed target zone is a broad one for now. We can make it narrow later . Hitting the target makes another larger degree wave cycle complete (started on 1 Nov 2011) and triggers another major correction. We will have an update in appropriate time.
Hope this analysis to be helpful ! As always we are prepared in advance to make our profits ! Right?
BTC more than likely has completed a wave cycle at 69000 USD on 1 Nov 2021. This wave cycle started at 1 Aug 2015 at 162 USD ! What does it mean? It means we are probably inside a major correction which can push down price to 26458- 34581 buy zone corresponding to 0.618 and 0.5 Retracements respectively!
Please note BTC has already made 0.382 retracement of mentioned cycle and this retracement is acceptable for this correction with respect to its place in wave cycle (wave 4) . Therefore, I will not be surprised if we see a new ATH without going lower although character of down going wave suggests that it probably goes to shown support on the chart.
As a guideline wave 4 of larger degree waves ends in territory of smaller degree wave 4 and usually terminates at it's end. This even makes our proposed support stronger !
It is worth to note there are some other alternative scenarios !. Interesting point is all those scenarios suggest the shown support as a strong one ! So, I just simply exclude those scenarios from chart to keep it clean.
If true, BTC will start an up going wave up to 78000-94000 USD after completion of correction. This proposed target zone is a broad one for now. We can make it narrow later . Hitting the target makes another larger degree wave cycle complete (started on 1 Nov 2011) and triggers another major correction. We will have an update in appropriate time.
Hope this analysis to be helpful ! As always we are prepared in advance to make our profits ! Right?
Uwaga
BTC is still going down to reach to our predicted buy zone ! Few people gave a chance for BTC fall when it was at ATH. A prediction which we made based on our flat correction scenarios!
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