BTC and their 3 most probable correction levels
Wave 3 reached 300% fibonacci extension (73.8k) and now we are in wave 4 which was predicted since late days of february.
However, this corrective wave (4) may not have ended yet, since due to the extensive length of Wave 3 (300%), a deep correction is expected, possibly reaching the 61.8% level of Wave 3 (44k) or 50% (49.3k).
Here are the levels to which Bitcoin (Wave 4) might correct and their respective probabilities according to my point of view:
- 38.2 fib.
(This level has already been reached) The probability that this is the bottom of the correction is 33%.
- 50 fib.
The probability that this is the bottom of the correction is 22%.
- 61.8 fib.
The probability that this is the bottom of the correction is 45%.
These probabilities may vary according to the three main events currently unfolding (Mt. Gox, sales from Germany, and ETFs).
I'll keep you updated.
However, this corrective wave (4) may not have ended yet, since due to the extensive length of Wave 3 (300%), a deep correction is expected, possibly reaching the 61.8% level of Wave 3 (44k) or 50% (49.3k).
Here are the levels to which Bitcoin (Wave 4) might correct and their respective probabilities according to my point of view:
- 38.2 fib.
(This level has already been reached) The probability that this is the bottom of the correction is 33%.
- 50 fib.
The probability that this is the bottom of the correction is 22%.
- 61.8 fib.
The probability that this is the bottom of the correction is 45%.
These probabilities may vary according to the three main events currently unfolding (Mt. Gox, sales from Germany, and ETFs).
I'll keep you updated.
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t.me/cinnamon_club
#1 Trader at PrimeXBT.com (cinnamon)
t.me/cinnamon_club
#1 Trader at PrimeXBT.com (cinnamon)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free Telegram channel:
t.me/cinnamon_club
#1 Trader at PrimeXBT.com (cinnamon)
t.me/cinnamon_club
#1 Trader at PrimeXBT.com (cinnamon)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.