(VIDEO) BTCUSD Resumes Weakness For 10k, Maybe Even 8k
Traders, welcome to our new second video idea here in trading view. I will again cover BTCUSD because I think it's in important structure that shows market now in wave C decline that can be headed down to 8k like we mentioned in our past updates.
Please give me a feedback on video analysis, to make sure if you want more of them in the future or no.
I hope you will enjoy the video!
Grega
Please give me a feedback on video analysis, to make sure if you want more of them in the future or no.
I hope you will enjoy the video!
Grega
הערה:
So, if you checked our previous video, then you can see updated analysis in which we talked about resistance of wave 4 and we can see now that we are near the resistance zone of wave 4, from where we expect a new decline into wave 5 of (C) towards 7750 or maybe even 7000 level.
הערה:
Big recovery on BTC, but 4th waves are the most complex, so we strongly suggest to be very careful here with long positions. Currently BTC trading around our projected resistance zone with three waves up, so it still could be wave 4 correction. But if goes higher above 13400 invalidation level, then we may adjust the view.
הערה:
welcome back everyone. A lot of you asked for an update so here it is:
we have seen move up towards 13 k recently, but noticed that recovery is clearly in three waves, also retraced by a recent break beneath the channel support. This looks like a temporary bounced, therefore, it would be too soon to turn bullish. I still think new lows will be seen.
we have seen move up towards 13 k recently, but noticed that recovery is clearly in three waves, also retraced by a recent break beneath the channel support. This looks like a temporary bounced, therefore, it would be too soon to turn bullish. I still think new lows will be seen.
If upper red trendline of this triangle is broken then rally will be in three subwaves with resistance at 12k.
Bottom line: trend is down, and it's expected to fall through 10k as long it's below 13100