What if BTC is going to $9000? What if it will go to $3500?
BTC Wave Count is suggesting that there is a possible Extension in play for Minor C (red) within Minute III (red).
2H Chart (picture):
9000 Levels represent 100& Fibs Extensions of Minors A & B (red) and 150-161.8% represent a possible Breach of 9000 Levels which would indicate that there is a major sell-off in play which could reach the 3500 bottom.
Is this realistic? Does it make any sense?
I think so! BTC needs a solid pull-back before moving higher than 40-50K.
Even has potential of topping a 100K this year, is that realistic? Why not!?!
9000 Levels to be watched closely for reactions.
On the previously posted “BITCOIN (BTCUSD) – Primary ABC Correction in play” I called the Rally from 3200.
Now I’m Bearish medium term and will return to Bullish mode once targets would be reached.
2H Interactive Chart:
2 Comments
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Richard
Since the time of the post BTC/USD went from 11K towards 6K, not bad at all.
Update: BTC/USD could go to 3.5K after all, as per the wave count below, which is saying that BTC/USD could start a drop in Minor 5 (red).
Wave Count states that we are in a Minor 4(red) Corrective Pattern, with an Ending Diagonal about to finalize in Minute C (orange) showing a possible Bearish Divergence at the false break-out near the Channel trend-line.
Tip: watch the Channel trend-line for reaction.
Richard
BTC/USD ready for $3500 as it seems to be developing a Bearish Pattern which could drive 5 Waves down.
