Bitcoin: Bitcoin: Bear Trap - Another Impulse Coming
Current Situation:
Bitcoin -1.39% did exactly the move I was expecting. There is a chance we'll drop a little more before we go up. If not then the smaller ABC correction is already over.
Prediction of others:
The expectations of others have remained the same. Everyone is currently expecting either doom or moon.
My last prediction:
At my last idea, I expected an ABC correction, which also occurred. Of course, I did not give any targets, as I said that for the moment we can not know what the correction looks like. Only at the end is it possible to identify the correct pattern, otherwise trading would be far too easy.
Last idea:
My current prediction:
After we have (almost) finished the correction I expect another impulse upwards. This impulse should go up to my fibonacci level, which is about @$8,000, $7,978 to be exact. Of course there is also the chance that we will turn back before or after. You never know. When trading, you should be open to all scenarios.
Final word:
Since there were some who asked me, I wanted to say that you can ignore the final crash charts for now. There are currently so many people waiting for a crash. However, I think these people need to be bullish before. So I expect some bull and bear traps before it really crashes. In the future I will try not to do so many long term charts any more. I know roughly how it will look in the end, but you can not know how long the correction will take until the crash comes. So it's very likely that they are wrong. But the move down will come.
The only thing is you can not say how long and how far yet. This is still too far in the future (estimated 2-3 months).
Current Situation:
Bitcoin -1.39% did exactly the move I was expecting. There is a chance we'll drop a little more before we go up. If not then the smaller ABC correction is already over.
Prediction of others:
The expectations of others have remained the same. Everyone is currently expecting either doom or moon.
My last prediction:
At my last idea, I expected an ABC correction, which also occurred. Of course, I did not give any targets, as I said that for the moment we can not know what the correction looks like. Only at the end is it possible to identify the correct pattern, otherwise trading would be far too easy.
Last idea:
My current prediction:
After we have (almost) finished the correction I expect another impulse upwards. This impulse should go up to my fibonacci level, which is about @$8,000, $7,978 to be exact. Of course there is also the chance that we will turn back before or after. You never know. When trading, you should be open to all scenarios.
Final word:
Since there were some who asked me, I wanted to say that you can ignore the final crash charts for now. There are currently so many people waiting for a crash. However, I think these people need to be bullish before. So I expect some bull and bear traps before it really crashes. In the future I will try not to do so many long term charts any more. I know roughly how it will look in the end, but you can not know how long the correction will take until the crash comes. So it's very likely that they are wrong. But the move down will come.
The only thing is you can not say how long and how far yet. This is still too far in the future (estimated 2-3 months).
Комментарий:
Short update:
Just wanted to justify why I wrote at all ideas that we could see a drop again. I expect the upmove in any case, only the problem is that I can not correctly identify patterns with low volume and at low time frame. Most likely it will happen the scenario you see on the chart below. Breaking the 'trend line' would cause everyone to think we would drop a lot. However, this would only end the correction and give us another impulse upwards: In summary, it would be a bear trap.
Possible scenario:
Just wanted to justify why I wrote at all ideas that we could see a drop again. I expect the upmove in any case, only the problem is that I can not correctly identify patterns with low volume and at low time frame. Most likely it will happen the scenario you see on the chart below. Breaking the 'trend line' would cause everyone to think we would drop a lot. However, this would only end the correction and give us another impulse upwards: In summary, it would be a bear trap.
Possible scenario:
Комментарий:
Short update:
The longs have risen dramatically in the last few days. Therefore, it is likely that the correction could take up to 1 week longer. This does not change my opinion. I'm still bullish short term and expect an upmove to about $8 000. In the next few days I will also try to publish an idea for Tron. Tron has a potential of over 100% increase. I've already bought some even if I could imagine a small drop.
The longs have risen dramatically in the last few days. Therefore, it is likely that the correction could take up to 1 week longer. This does not change my opinion. I'm still bullish short term and expect an upmove to about $8 000. In the next few days I will also try to publish an idea for Tron. Tron has a potential of over 100% increase. I've already bought some even if I could imagine a small drop.
Комментарий:
Short update:
And the first 600 BTC longs were already closed after the drop. My opinion remains. The correction ends when many of the longs close. That's why I often advise you to do the opposite of the crowd.
And the first 600 BTC longs were already closed after the drop. My opinion remains. The correction ends when many of the longs close. That's why I often advise you to do the opposite of the crowd.
Also check out my ideas for Verge and Bitcoin Cash. Good luck.
Bitcoin Cash:
www.tradingview.com/...o-20-Profit-Impulse/
Verge: