Bitcoin - Plan for the next week (this is going to happen)
- Bitcoin is bearish, and the next support is around 25k, which is a strong horizontal line from August 2022 to February 2023. I expect a small bounce from this zone, and we should see bullish price action back to 27k.
- Precisely, 25224 is the 0.618 FIB extension support on the LOG scale, and previous wave 1 resistances are 26942 and 27235.
- It's the gameplay for the next week or two, and this is what I am expecting from Bitcoin. This time this is a short-term analysis, as I do analyses on Bitcoin on all timeframes.
- We can clearly see that the price action on Bitcoin is pretty choppy, and I expect this to continue. Of course, a big red dildo is possible, but in my opinion, a green one is not. I am bearish, and I expect 15k this year.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- From the Elliott Wave perspective, I am missing a final wave (5) to complete wave 3 of the higher degree. This is, of course, a bearish version of my Elliott Wave count.
- There are tons of opportunities on altcoins, so I trade mainly them. For example, ARPA is a good coin to trade on an intraday or swing basis because the volatility is pretty huge, and volatility = opportunity.
- After Bitcoin reaches 25224, which will be hit sooner or later, I expect a pullback to 26942 - 27325.
- The next FOMC meeting is on Wed, Jun 14 where will be released a decision for the interest rates in the USA. Big volatility is ahead.
- Thank you, and for more ideas, hit "Like" and "Follow"!