- Bitcoin has successfully completed a retracement of the first impulsive wave! This correction was very fast but also relatively strong (almost 0.618 FIB). This was a classic retracement for the second wave.
- It is possible that we see these lower prices for the last time, so if you are still hesitating and waiting for 13 000 USDT or even 6 000 USDT per bitcoin , then I think it’s not going to happen. It’s everyone’s dream to buy cheap Bitcoin .
- We must remember that Bitcoin successfully defended its previous all-time high from 2017, which was around 19 000 USDT, depending on exchanges.
- The third wave of the first impulsive wave is an extended diagonal, which is pretty rare to see in the market. But as per himself, diagonals also appear in third waves.
- The next major resistance and high liquidity area is exactly at 34000 USDT. It’s very likely that we will make a pullback here.
- Bitcoin is pretty weak compared to altcoins like BNB or ETH, because the BTC .D (Dominance) chart is going down and people prefer altcoins instead of Bitcoin at this moment. This trend should continue for another year (alt season).
Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.