BTC Bitcoin! Big bear wave down from 9200 - 7460 complete!
Updated
Hi guys, quick update!
I believe we've completed the big bear wave from 9200 down to 7460.
Check out my previous post from 1 day ago, posted when the price was 8100.... hit the support zone!
Zoom in on the chart to see my subwave breakdown right at the bottom of 7460. Here are some tips for using the chart:
- hover mouse near the center/bottom of the chart to make the 5 popup buttons appear: < - refresh + >
- press + a bunch of times
- on the right hand scale where the prices are (7500, 7600, etc), click and drag upwards to zoom the scale.
- click in the main chart area and drag to the current price area.
The bear trend is intact, but we're still watching out for the bull!
In both bearish and bullish scenarios, we should see a nice bounce from this 7450 level though!
BEARISH
- We will see an ABC correction up to one of the major fib levels on my Fib retracement chart on the right. The .236, 0.382, and 0.5 levels are good candidates. We will be able to zero in on a target once waves A then B develop.
- To be clear, I consider a breakdown below 7200 to be the FULL ON BEARISH SCENARIO with targets of 6000 then lower.
BULLISH
- If this is a bullish bottom, we can now see an impulse wave back to the 9000 region. The first wave up will be subway 1 will which probably correspond to the purple arrows and the same fib levels.
Lets keep watching and chart subways as they develop!
Good luck,
LLCoolRS
If you find these posts useful and helpful, please follow me, like my posts, share, and comment!
The more positive feedback I get, the more motivated I am to post and update!
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
I believe we've completed the big bear wave from 9200 down to 7460.
Check out my previous post from 1 day ago, posted when the price was 8100.... hit the support zone!
Zoom in on the chart to see my subwave breakdown right at the bottom of 7460. Here are some tips for using the chart:
- hover mouse near the center/bottom of the chart to make the 5 popup buttons appear: < - refresh + >
- press + a bunch of times
- on the right hand scale where the prices are (7500, 7600, etc), click and drag upwards to zoom the scale.
- click in the main chart area and drag to the current price area.
The bear trend is intact, but we're still watching out for the bull!
In both bearish and bullish scenarios, we should see a nice bounce from this 7450 level though!
BEARISH
- We will see an ABC correction up to one of the major fib levels on my Fib retracement chart on the right. The .236, 0.382, and 0.5 levels are good candidates. We will be able to zero in on a target once waves A then B develop.
- To be clear, I consider a breakdown below 7200 to be the FULL ON BEARISH SCENARIO with targets of 6000 then lower.
BULLISH
- If this is a bullish bottom, we can now see an impulse wave back to the 9000 region. The first wave up will be subway 1 will which probably correspond to the purple arrows and the same fib levels.
Lets keep watching and chart subways as they develop!
Good luck,
LLCoolRS
If you find these posts useful and helpful, please follow me, like my posts, share, and comment!
The more positive feedback I get, the more motivated I am to post and update!
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
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Update post!
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