Bitcoin small move up for E of B then a big drop for C?
Looks like we could move up to test 8k, possibly even go higher to 8800 or so. But then we could get a big move down for wave C. Gluck : )
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I think D just competed...closing a daily candle back above 7k will give more confidence though : )
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meant to delete that extra black trendline sorry : ) disregard
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While this could go as high as 10k and still be valid this seems like the most likely scenario to me (top out somewhere between $8250-$8750):
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There is a confluence of support here...if it's going to bounce it will happen around here:
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Lots of cold storage being moved...if we break below 6200 we may already be ready for the big fall unfortunately.
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Lol i'm sorry guys but apparently it was just Poloniex moving coins, regardless, daily candle is not inspiring at the current moment.
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Looks like E was short:
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Looks like we could rally to the 7k-7400 range but unless we can get back above the local high will assume we are going lower. 4h chart:
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In typical GFY manner the market came just shy of 7k before the drop...ns the big drop has started yet though. If the lows hold we can still be in the midst of a flat correction for wave 2 (c will end slightly above or below a). If we break the lows brace for impact as wave 3 has begun. Good luck.
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6k broken...bulls clearly nowhere to be found. Seems like 49xx is coming.
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Can the tether gods give us a relief rally? : )
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If we can break back above $6100 looking for a run to $7100-$7300 before the big drop.
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This is someone I highly respect which gives me great thought about why my current count may in fact be wrong. Feel free to check out me getting schooled in the comments.
And this was great also which directly addresses why this count is probably wrong:
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From a traditional TA standpoint nothing has changed...short term bullish target is still the same...and we still need to decisively break above the 1.618 extension to confirm an overall bullish trend reversal.
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There is actually a nice head and shoulders forming now that we came down for the right shoulder. Target would take us to 82xx. Assuming we break the local high I actually am now 100% bullish on bitcoin.
