I am tired of all analysts just saying that we are going down to 70k or up to 200k in one go.
So let me add a small informative chart for all people new or lost.
Don't get me wrong, i am bullish mid and long term but right now we are in the middle of a strong correction but shouln't last long.
We could have been super bullish above 106k but the price broke down with strength.
Now we see a super clear 5 wave movement down.
Currently we are in the 4 wave, trying to bounce back to the 106k area and doing a classic 4 wave ABC correction.
The bounce lacks volume so the most likely scenario is completing the 5 wave. We might get to the 101k area and ONLY THEN we can see what could happen.
If you are a futures trader, do it with caution and small leverage.
If you are a long term investor, these are perfect areas to buy more.
Good day to everyone.
So let me add a small informative chart for all people new or lost.
Don't get me wrong, i am bullish mid and long term but right now we are in the middle of a strong correction but shouln't last long.
We could have been super bullish above 106k but the price broke down with strength.
Now we see a super clear 5 wave movement down.
Currently we are in the 4 wave, trying to bounce back to the 106k area and doing a classic 4 wave ABC correction.
The bounce lacks volume so the most likely scenario is completing the 5 wave. We might get to the 101k area and ONLY THEN we can see what could happen.
If you are a futures trader, do it with caution and small leverage.
If you are a long term investor, these are perfect areas to buy more.
Good day to everyone.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.