- Buy/long Bitcoin at 17600, because there is an unfilled GAP between the previous candles. It’s the start of the huge parabolic uptrend, and the bulls will most likely defend this level!
- It looks like Bitcoin is going to reach levels above 25000 after we fill the GAP and complete this Elliott Wave corrective pattern (ABC). Currently, we are in wave B.
- Why should Bitcoin not fall below the 17600 level? There is no reason to go down because the majority of liquidity is exactly at this point.
- What is the target for wave C? Wave C ‘s target will be specified in one of my next analyses. Make sure you follow me! We need to use a FIB extension from Wave A -> B later to help determine the target. But at this point, we can speculate between 25000 and 39000.
- On the chart, I can see a strong impulse wave (A). This gives us a great chance for a continuation to the upside after we finish this correction.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- If you haven’t seen my previous analysis, where I told you that Bitcoin could go to 10k, make sure to check it out right now!
- At this point, we need to be patient and wait for bitcoin to reach 17600. If we reach this level, it’s a good idea to turn bullish again and buy some great altcoins as well.
- https://www.tradingview.com/chart/BTCUSDT/Fr6QD8KL-Buy-Bitcoin-at-17600-Secret-level/
