BitcoinLong
Bitcoin - keep working on the final drop
That final decline in the wave ( c ) of ( v ) down in the ideal world should be structured as five wave impulsive structure.
Today's drop looks like a perfect candidate for the wave c of iii. And that wave c of iii down may extend to 4,700 - 4,500.
Then a corrective pullback in wave iv up should hold under 5,750 to give birth to the final push down in the wave v into the green target box.
In the real life such a final drop quite rarely gives us such a perfect completion.
What we can get is one more push down and then a reversal breaking out through that first resistance at 5,750.
Therefore I will buy the first tranche if they push it down to 4,700 - 4,500.
Today's drop looks like a perfect candidate for the wave c of iii. And that wave c of iii down may extend to 4,700 - 4,500.
Then a corrective pullback in wave iv up should hold under 5,750 to give birth to the final push down in the wave v into the green target box.
In the real life such a final drop quite rarely gives us such a perfect completion.
What we can get is one more push down and then a reversal breaking out through that first resistance at 5,750.
Therefore I will buy the first tranche if they push it down to 4,700 - 4,500.
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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.
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.