Bitcoin is on the edge of collapse!
Hello, everyone!
Under the last analysis we have a lot of negaive comments. We predicted dump, but most of traders now obviously want it to go higher and higher. Our analysis is still the same, let's just figure out some additional proofs that
BTC is ready to dump in October.
On the chart we have 1D time frame BTCUSDT. After the impulsive wave 1 Bitcoin has printed the ABC correction to 0.5-0.61 Fibonacci retracement. It was wave 2 which has been already ended. Look at the bearish reversal bar and the MFI state squat. This is the huge reversal signal.
Now we cannot definitely tell if we are in ABC correction or 5 Elliott waves cycle to the downside. Anyway the target 1 Fibonacci extension should be reached in any cause. This is $21500, our first target.
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Under the last analysis we have a lot of negaive comments. We predicted dump, but most of traders now obviously want it to go higher and higher. Our analysis is still the same, let's just figure out some additional proofs that
BTC is ready to dump in October.On the chart we have 1D time frame BTCUSDT. After the impulsive wave 1 Bitcoin has printed the ABC correction to 0.5-0.61 Fibonacci retracement. It was wave 2 which has been already ended. Look at the bearish reversal bar and the MFI state squat. This is the huge reversal signal.
Now we cannot definitely tell if we are in ABC correction or 5 Elliott waves cycle to the downside. Anyway the target 1 Fibonacci extension should be reached in any cause. This is $21500, our first target.
🔥Follow us and never miss the update
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