Hello traders,
Today I'm going to share with you 'my idea' about Bitcoin in weekly time frame.
As we can see in the chart this crazy move on Bitcoin made every trader skeptical.
Market maker needs volatility before dumping the market and as we can see before the pump the market was moving slowly and we reached the lowest volatility of all time and ofcourse it won't dump before collecting volume and liquidity.
Market makers started to promote on their social media that bottom is in which is not correct in my opinion. why?
Have you seen a crash without an uptrend?
I don't think wave 5 is too short so I think we are still in a bear market I don't see any bull market from here, it's just normal volatility inside wave 4.
and many indicators doesn't show that we reached the bottom yet.
Yesterday I checked the weekly EMA because every decent investor will check it out before making any move and I found that 50 EMA has crossed with 200 EMA which is "The Death Cross".
- In my opinion wave 4 has not been ended yet but it's about to end!
- The big Falling Wedge has not broken yet.
- We are still in a correction and I think this is 'Running Flat Correction' inside wave 4 where prices tends to bounce from support and resistance.
#Running Flat Correction:
Wave B terminates beyond the start of wave A.
Wave C terminates before the end of wave A.
- Wave B = 123.6% of wave A
- Wave C = 61.8% - 100% of wave A
I consider this time wave C will end near 21,500 - 22,000 and there I'm gonna short the market based on my strategy.
Let me know in the comment down below do you think bull market has started? and why?
Non of this you can use as financial advice! always do your trade based on your analysis and strategy.
Today I'm going to share with you 'my idea' about Bitcoin in weekly time frame.
As we can see in the chart this crazy move on Bitcoin made every trader skeptical.
Market maker needs volatility before dumping the market and as we can see before the pump the market was moving slowly and we reached the lowest volatility of all time and ofcourse it won't dump before collecting volume and liquidity.
Market makers started to promote on their social media that bottom is in which is not correct in my opinion. why?
Have you seen a crash without an uptrend?
I don't think wave 5 is too short so I think we are still in a bear market I don't see any bull market from here, it's just normal volatility inside wave 4.
and many indicators doesn't show that we reached the bottom yet.
Yesterday I checked the weekly EMA because every decent investor will check it out before making any move and I found that 50 EMA has crossed with 200 EMA which is "The Death Cross".
- In my opinion wave 4 has not been ended yet but it's about to end!
- The big Falling Wedge has not broken yet.
- We are still in a correction and I think this is 'Running Flat Correction' inside wave 4 where prices tends to bounce from support and resistance.
#Running Flat Correction:
Wave B terminates beyond the start of wave A.
Wave C terminates before the end of wave A.
- Wave B = 123.6% of wave A
- Wave C = 61.8% - 100% of wave A
I consider this time wave C will end near 21,500 - 22,000 and there I'm gonna short the market based on my strategy.
Let me know in the comment down below do you think bull market has started? and why?
Non of this you can use as financial advice! always do your trade based on your analysis and strategy.
Transaction en cours:
pump might continue to 25k after some correction.
The idea will be invalid if we break the 25,200
Regards.
The idea will be invalid if we break the 25,200
Regards.
