BTC/USD - Don't fomo yet. Bearish scenario still possible
Hey guys,
as you can see I've labeled the count so there is actually not much to say besides: Don't fomo yet. There is still a chance for a bearish scenario. $6k is actually the initial level I was looking for to enter big before price began to surge few days ago. With respect to the length of the 3rd subwave of wave 3 in c, the upcoming fifth wave (if there will be one) has to end above or at $5.8k. Besides the fact that it would be indeed great to buy alts en masse when the recent low would be taken out, this chart does not necessarily display what I want to happen - it's just an observation as I don't trust this surge in price fully. However, if price takes out the 9.5k level and respects it as a support, I'll be looking for a buy to at least $11.7k
as you can see I've labeled the count so there is actually not much to say besides: Don't fomo yet. There is still a chance for a bearish scenario. $6k is actually the initial level I was looking for to enter big before price began to surge few days ago. With respect to the length of the 3rd subwave of wave 3 in c, the upcoming fifth wave (if there will be one) has to end above or at $5.8k. Besides the fact that it would be indeed great to buy alts en masse when the recent low would be taken out, this chart does not necessarily display what I want to happen - it's just an observation as I don't trust this surge in price fully. However, if price takes out the 9.5k level and respects it as a support, I'll be looking for a buy to at least $11.7k
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Bearish Scenario:
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Bullish Scenario:
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The alt count for the bullish scenario has been labeled in blue