Bitcoin wave-5 target: ~9500 - Accurate calls so far
#Bitcoin wave-5 target: ~9500
Range: 9300-9800
Time: 12-24 hours
(Current estimates on assumption that we just completed wave-4 of 5)
BTC
Previous Thread/Analysis:
Range: 9300-9800
Time: 12-24 hours
(Current estimates on assumption that we just completed wave-4 of 5)
BTCPrevious Thread/Analysis:
Note
Looks like this massive, unexpected bad news detailed our bullrun:Japan Orders Binance Crypto Exchange To Close Or Face Police Action, Bitcoin Rally Falters
ethereumworldnews.com/japan-orders-binance-crypto-exchange-to-close-or-face-police-action-bitcoin-rally-falters/ …
Binance to Face Criminal Charges if it Does Not Halt Operations in Japan
Note
BTC may be able to see a rebound soon, however, things are more uncertain now with such massive, unexpected news being released.Binance is the largest (or at least top 3) Crypto Exchange in the world.
Such news would always have a negative effect on markets, regardless of TA.
Note
Looks like the articles about Binance facing closure are likely quite untrue.FUD of this magnitude however, does spark massive short-term selloffs.
Reversal to uptrend is still quite possible, but we have to observe for now.
usethebitcoin.com/nikkei-rumored-news-about-binance-are-fake-changpeng-cz-zhao-declared/
twitter.com/cz_binance/status/976783934074732544
Note
Bitcoin Support found at the moment at the 8450 level, which is an intersection of a larger channel as well as a previous high-activity area.We'll have to observe how this plays out.
I do believe that the recent Binance news was a major factor, making it difficult to validate count.
Note
This chart appears to be a possible and valid wave count. Wave-1 and wave-4 doesn't overlap.
Wave-3 is a 1:1 extension of wave-1.
Wave-4 retraced to the 0.65 Fibb of wave-3.
(Still, be super cautious because of the FUD news circulating today)
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