BTC/USDT (1D) How Bad could it be ? (Worst case scenario)
Updated
Hi Traders and HODLers....
If you ask yourself how low could BTC Fall during this correction ? Well .. it all depends if you believe to EW counts and Fibonacci extensions.
This EW Count shows my expectation of FreeFall back down to 11K zone in case of A:C 1:1 Extension.
Right now Bitcoin is fighting for most iportant levels. If he fails. We could finish in a BEAR market for months (maybe year or 2 untill another Halving ?).
This is not investment advice, just my warning how bad it could be.
Even when I am very Bullish LONGTERM ... also You should always ask yourself if you risk only the money you will not need for such longtime ;)
Trade and invest safe, always consider risks.
If you ask yourself how low could BTC Fall during this correction ? Well .. it all depends if you believe to EW counts and Fibonacci extensions.
This EW Count shows my expectation of FreeFall back down to 11K zone in case of A:C 1:1 Extension.
Right now Bitcoin is fighting for most iportant levels. If he fails. We could finish in a BEAR market for months (maybe year or 2 untill another Halving ?).
This is not investment advice, just my warning how bad it could be.
Even when I am very Bullish LONGTERM ... also You should always ask yourself if you risk only the money you will not need for such longtime ;)
Trade and invest safe, always consider risks.
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Local Uptrend channel = Bear flag is broken down. Right now important level is around 35200. (Main channel)
If BTC break it down, we could see test of 33-30K zone again.
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Quick update, its quite difficult to count subways, so my best gues right now is something like this. when there will be chnace to do it more preciselly I will post update.
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Alternatie EW count. Liquidations and stop-losses below 29K support vere reached. (Huge liquidity fpor big shorters).
Now many people finally sold and turned bearish into shorts.
(new liquidity area is around 28-29K (top-losses for shorts of small players // retail).
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Quick update: Its Shorting time ... hopefully you can figure out how to trade this. ;)
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2H Timeframe: Notice how steep was wave (iii). Wave (v) should be milder.
My expectation now is around 18K as best scenario and 13(12)K as worst.
Lets wait and see together ;)
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Small but important levels ... Lets go BTC. Comment
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Seems like BTC is falling like a Stone ... how much momentum does it still have ? 1W RSI is aproaching historic lows (even below 2018 correction).
So if we fall down further it could be very bad.
Also we are currently below EMA 200. so I consider a possibility of retrace up to 27K to test it.
What will than could describe screen on the next Update.
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Good morning guys, hopefully you are doing great ;)Keep calm and wait for DIP.
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No triangle, just ABC wedge... Patience folks ;)
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