Bitcoin | What Is Next?
Hello, everyone!
In the previous analysis on BTC I told that Wave 3 is going to break ATH. Well, it is the case! But what is next?
As you know, I study the Trading Chaos by Bill Williams. Last forecast was made by this methodology, but I am still a freshman in Chaos. Today I am going to try to add my new knowledges about Elliott Waves in practice.
The main question now is if the Wave 3 finished or not. The target zone for wave 3 is 1 - 1.62 Fib extension. So, the minimal requirement is done. Also we can see the divergence with profitunity MACD, but to be honest, I am still not an expert in this indicator.
I am not except another one move to the upside in Wave 3 continuation. Next time I will learn the advanced techniques for wave detection, I know Bill Williams use multiple timeframes for it.
If we now see the end of Wave 3, I suppose that the Wave 4 is going to be the A-B-C-D-E triangle correction. The target zone for Wave 4 is $54000 - $56000, but in case of triangle correction it can be even higher. In this case the $56000 on Bitcoin is a good time to buy altcoins, according to my analysis about new altseason(see the previous analysis)
What should we do?
If you bought Bitcoin or altcoins at the end of Wave 2, like me. You can just HODL and wait for the Wave 5 and last altseason in this bull cycle. If you are still in stablecoins, I can recommend you to wait the Wave 4 end to buy altcoins.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
In the previous analysis on BTC I told that Wave 3 is going to break ATH. Well, it is the case! But what is next?
As you know, I study the Trading Chaos by Bill Williams. Last forecast was made by this methodology, but I am still a freshman in Chaos. Today I am going to try to add my new knowledges about Elliott Waves in practice.
The main question now is if the Wave 3 finished or not. The target zone for wave 3 is 1 - 1.62 Fib extension. So, the minimal requirement is done. Also we can see the divergence with profitunity MACD, but to be honest, I am still not an expert in this indicator.
I am not except another one move to the upside in Wave 3 continuation. Next time I will learn the advanced techniques for wave detection, I know Bill Williams use multiple timeframes for it.
If we now see the end of Wave 3, I suppose that the Wave 4 is going to be the A-B-C-D-E triangle correction. The target zone for Wave 4 is $54000 - $56000, but in case of triangle correction it can be even higher. In this case the $56000 on Bitcoin is a good time to buy altcoins, according to my analysis about new altseason(see the previous analysis)
What should we do?
If you bought Bitcoin or altcoins at the end of Wave 2, like me. You can just HODL and wait for the Wave 5 and last altseason in this bull cycle. If you are still in stablecoins, I can recommend you to wait the Wave 4 end to buy altcoins.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
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