Long

Is Bitcoin About to Start Wave E?

Updated

Hello Traders,

Here is some new TA which I have been working on. Ive modified the EW cont to now have an ABCDE type correction for wave B.

I have added pivots and S3 seems to line up perfectly with the uptred support line at $7050-$7100 ish.

Im thinking a drop to S3 pivot and then bounce to complete wave E.

Lets see.

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If it breaks S3 it will get bloody.

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Funny how things change every 10 minutes. Those pivots are for last week. We have a new set of pivots now. Also looking at other TA there is a poss bounce first then bottom test. Lets see.

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I am super cautious about this bounce. We have hit the top of that wedge already and did not have a firm test of the trend support line. Dont feel this market is that bullish to not test support line, but who knows. Lets see.

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lol posted in comment section. Much happier now we have cleared that wedge, would like to get well away from it though. Nice bit of bull div on this bounce.

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Ok so it would seem wave 1 + 2 are complete with a 0.382 retrace, bull div on the 2hr and bulls moving towards the pivot acting as the bounce zone. Here is my projected wave 3.

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Epic trap action around that pivot. Bitfinex is down now, twice.

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Well I was sweating for a while there stuck in a long with Bitfinex down feeling helpless and then a big fat greeny popped up to take back the pivot. Still talks going around this could be in the middle of a deeper retrace. Set my stop in case.

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Hope this is the play, more or less. No traps lol.

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The chat was so bearish yesterday after a 2% drop to the pivot but what happened, a load of shorts were opened and then got squeezed as BTC came back with more large green candles. Still convinced we are in wave 3.

cryptodisco

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