EVEN THE MINOR WAVES! CORRECT SINCE MAY 11TH, BTC TODAY MAY 16th
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Depending on the impulse of the upward channel, target one would be in between 8750-8850. Target two 9160 which is hardly possible.
Bullish scenario: Breakout of 8850 and continue upwards.
Bearish scenario: BTC bounces back from 8850, to bellow 7800 in which case it might end up going to some of the lower fibonnaci supports.
Bullish fractal most likely lasting the whole Sunday.
Update: The highest point of the fractal, it seems as it would be 8750, for most people that are shorting this is a good sell!
Long Term folks: Completely selling right now, it would be like a suicide, either short to buy back around 8000, or just HODL!
Update: For May 14th, if today(May 13th) finishes above 8650, there's a possibility of bitcoin retesting 9167-9067!
Update May 15th: If it closes bellow 8650(just as it tried breaking to 9000 today on May 14th because it close above 8650), I see a potential of it forming another five wave structured correction down, completing E/5 as a bottom of 7800 maybe 8000 as an upper low due to it being a psychological number.
Only above 9067-9167 today, I see a potential bullish breakout and will most likely enter as a confirmation and buy above 9200!
Update May 16th: Seems like it is about to close bellow 8650(On may 15th). In this case the price (until the weekend possibly) may try to retest the lower support zones at 8220, 8000, and 7800,
Stop-Loss Range: Bellow 7600/7700/7800.
Give it a like, or comment if you agree, or would like to add/change some stuff.
P.S. I know it should be labelled ABCDE, and that it looks more like a downward channel than a triangle, this was a practice count at the time, and I thought that there would be a concentration of buy pressure at around 7800 so I drew a triangle.
Bullish scenario: Breakout of 8850 and continue upwards.
Bearish scenario: BTC bounces back from 8850, to bellow 7800 in which case it might end up going to some of the lower fibonnaci supports.
Bullish fractal most likely lasting the whole Sunday.
Update: The highest point of the fractal, it seems as it would be 8750, for most people that are shorting this is a good sell!
Long Term folks: Completely selling right now, it would be like a suicide, either short to buy back around 8000, or just HODL!
Update: For May 14th, if today(May 13th) finishes above 8650, there's a possibility of bitcoin retesting 9167-9067!
Update May 15th: If it closes bellow 8650(just as it tried breaking to 9000 today on May 14th because it close above 8650), I see a potential of it forming another five wave structured correction down, completing E/5 as a bottom of 7800 maybe 8000 as an upper low due to it being a psychological number.
Only above 9067-9167 today, I see a potential bullish breakout and will most likely enter as a confirmation and buy above 9200!
Update May 16th: Seems like it is about to close bellow 8650(On may 15th). In this case the price (until the weekend possibly) may try to retest the lower support zones at 8220, 8000, and 7800,
Stop-Loss Range: Bellow 7600/7700/7800.
Give it a like, or comment if you agree, or would like to add/change some stuff.
P.S. I know it should be labelled ABCDE, and that it looks more like a downward channel than a triangle, this was a practice count at the time, and I thought that there would be a concentration of buy pressure at around 7800 so I drew a triangle.
Transaction en cours
Buy in Prices:1: @8067.6
2:@7856.8
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