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.
Hesitation
AudJpy Counter Trend Long Then ReverseSmall counter trend opportunity on AudJpy, quite a few inside levels of resistance to be wary of but possible to go higher. If we reach that target zone, I would look to short down for a retest of the lows following our impulse with decent strength shown on the RSI. There is also a decent pattern formation on the 5 min with a double bottom followed by a bullish break.
BTC: Bulls Hesitant on Follow Through [MicroAnalysis]BTC Microanalysis: "Forest for the trees but the trees still make the forest."
After a good consolidation and pump, bulls are giving up the momentum a little too early by failing the 5th-wave breakout on smaller time frames, taking all 5 wave attempts just to reach the 141 extension. Normal follow through after a consolidation/pump will typically reach the 161 by the 5th wave at minimum, many times by the 3rd wave.
As long as BTC holds above 9k, the Adam & Eve scenario is still looking good, but this does point to some sideways action and raises the potential risk of downside for the time being.
Maximum hesitation areaBitcoin is in a clear hesitation zone, strong bulls and bears are trying to take control of the situation while it keeps doing lower lows and higher highs. Movements are fast and wide, especially on the downside.
The remaining days of this month will be very intense as the situation needs to resolve before the end of the year.
If looking for a major move better wait until clear confirmation.