Updated

Bitcoin (BTC): Wave pattern & Key Levels

The price of Bitcoin hasn't changed much since my previous idea: I still expect it to reach 9600+ before reversing for a deeper correction. This time, though, I would like to present you with my wave count for the short-term trend. The 5--wave nature of the bullish advance is pretty much obvious, and should be followed by a 3--wave correction. Its first leg began on May 5 just below the 10k mark. Currently, I have little doubt that the price will drop below 8650 within a week or two, so the question is where to go short. 9600+ seems to be a reasonable resistance cluster at the moment. I will keep you updated on a shorter term basis.

Note

EOS update from yesterday's idea:

1-hour bar close above 18.0 triggered the entry.

Note

Hourly close above the neckline activates H&S on IOTA chart:

Note

Massive gains in IOTA $$, 2.54 target hit. Look for continuation patterns between these two levels for new entries:

Note

EOS isn't looking safe after this Rising Wedge has emerged:

Note

Closing 1H and 4H candles below support is detrimental for BTC. Headed to 8900

Nickonomics

Telegram: t.me/NixTrading
Сигналы: NixService.net
Агент-аналитик: t.me/NixAgent

Also on:

Related publications

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.