This is my general idea for now for BTC excluding any massive FUD or FOMO. I'm expecting a C wave soon and a possible end to the C around the end of wave 4, but more likely around the peak of 1. A daily close below the end of 2 would be a very bearish sign. I've marked in green boxes some potential bounce areas, but I think the middle one to be more likely. I've also marked in red, where I think the local B wave will end.
Looking at the larger degree Wave (orange) you can see my targets for this wave and where I have marked point of interest for resistance with green rays.
Looking at the larger degree Wave (orange) you can see my targets for this wave and where I have marked point of interest for resistance with green rays.
Note
If we end up failing at the 8400-8500 area, the 8000-8100 has very strong support, but if we fail that, then the price can see ~7250!Note
Preferred target hit!Note
Looks like we had a bounce at the middle green box, found some resistance at the upper box, and seem to have possibly found some support again at the middle box. Let's see how the daily candle will close. If we fail at the lower box, then I have a new target for a bounce or at least a short target around ~7200.Note
Looks like we failed at 7888, next target is the 7200 area.
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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.