Hello, my dear friends!
Bitcoin has formed the bearish reversal bar and told you that pump could be ended and I close my long. I had two possible scenarios and the most probable(bearish) is playing out now. Bullish scenario has not been activated, that' why I decided to open short today before dump.
Current dump looks like the true wave 3 which I have been waiting for the long time. Now let's try to undersatnd where BTCUSDT can bounce. Let's start with the higher degree waves. We have the wave 1, wave 2 which touched exactly 0.61 Fibonacci retracement level and wave 3, started from there. This large wave 3 has two visible targets: $24300 at Fibonacci extension 1 level and $22700 at Fibonacci 1.61.
At the same time, looking at the small degree Elliott waves counting we have three potential targets. The first one has been already reached at $25500, I don;t think that BTC will be stopped here. Next and the most likely target is located at 1.61 Fibonacci retracement at $24300. This target is also coinsides with the higher degree waves. I suppose that reaction from this price is almost guaranteed.
Therefore in general I suppose the following scenario. Bitcoin will continue dumping without corretions to $24300, after that show us local bounce and continue dumping to the global target at $22356. What is gonna happen after that I cannot tell you definitely, but some significant bounce should happens.
Best regards, Ivan
____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
Bitcoin has formed the bearish reversal bar and told you that pump could be ended and I close my long. I had two possible scenarios and the most probable(bearish) is playing out now. Bullish scenario has not been activated, that' why I decided to open short today before dump.
Current dump looks like the true wave 3 which I have been waiting for the long time. Now let's try to undersatnd where BTCUSDT can bounce. Let's start with the higher degree waves. We have the wave 1, wave 2 which touched exactly 0.61 Fibonacci retracement level and wave 3, started from there. This large wave 3 has two visible targets: $24300 at Fibonacci extension 1 level and $22700 at Fibonacci 1.61.
At the same time, looking at the small degree Elliott waves counting we have three potential targets. The first one has been already reached at $25500, I don;t think that BTC will be stopped here. Next and the most likely target is located at 1.61 Fibonacci retracement at $24300. This target is also coinsides with the higher degree waves. I suppose that reaction from this price is almost guaranteed.
Therefore in general I suppose the following scenario. Bitcoin will continue dumping without corretions to $24300, after that show us local bounce and continue dumping to the global target at $22356. What is gonna happen after that I cannot tell you definitely, but some significant bounce should happens.
Best regards, Ivan
____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
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