Updated

BTC/USDT (1D) How Bad could it be ? (Worst case scenario)

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.

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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.

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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 ;)

Longevity_Contrarian

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Longevity_Contrarian

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