SEC recently declared that ETH would not be classified as security. This led to a fomo rally and finished the ABC correction from my previous idea.
Interestingly, we only retraced to around 0.382 levels giving this high probability chance this is just a wave 4 and we might have another wave down to around 5700 before we a strong bounce.
On the 1hr chart, oscillators are starting to show signs of bearish div indicating this move up is exhausted now and may start rolling over soon.
I will be adding shorts from here and add more if its goes up higher.
Interestingly, we only retraced to around 0.382 levels giving this high probability chance this is just a wave 4 and we might have another wave down to around 5700 before we a strong bounce.
On the 1hr chart, oscillators are starting to show signs of bearish div indicating this move up is exhausted now and may start rolling over soon.
I will be adding shorts from here and add more if its goes up higher.
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And we a have break out. Note
BTC dropping as expected. I see it a bounce at 5700
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BTC update - still going to sub 6k levels Note
BTC might be forming an ending C wave diagonal here. It can make push upwards to around 6640 to clear out the stops before moving down.
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Bitfinex has abnormal wick that was messing up with the counts. This is a chart from binance we are making the C wave now.
I expect it to reach around 6800-900 then to my target around 5700
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Gonna be laddering my shorts from 6800-900 region target is still the same around 5700Note
BTC hit 6850 and now we are going down. Note
Nothing much to really update here. We are running sideways for past 10 days. I expect an explosive breakout to the downside. Note
And we have a breakdown Note
BTC taking a real beating here. Wave 1 of 5 complete. Should see a bounce to around 6400-500Note
This count is more accurate according to me. High probability for a bounce is 5600-700.
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BTC complete subwave 4 of 5 and now we are making the last and final subwave before bouncing. I expect it to reach around 5700.
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Its forming a W4 contracting triangle. Expecting 1 more wave down then bounce. Bearish div also present
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It turned out be a normal ABC correction. Now wave 5 begins 
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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.