Bitcoin - Drop to 98,922 then a big pump! (Buy here)Bitcoin is falling again mostly because of Trump's aggressive attack on Iran. But technical analysis in general is very strong, and we can find strong levels where smart money has their buy orders. You, as a fish, always want to trade with big whales. Bitcoin is approaching an extremely strong level, which is the bottom of the bullish flag and 1:1 Fibonacci extension. This level is exactly at 98,922 USDT and this is where you definitely want to put your buy orders. I am confident we will see a significant pump from this level.
From the Elliott Wave point of view, Bitcoin is finishing a major ABC ZigZag correction. A classic textbook ZigZag pattern has a 1:1 fib extension between its waves. At this point we don't know if this is going to be the bottom on Bitcoin or not, because ZigZag can transform into a complex WXYXZ Triple three corrective pattern. Of course there are no patterns with 100% probability of success, but this ABC seems to be very probable, at least for a short-term bounce.
Now the most important question - where to take profit? If we buy at 98,922 we definitely want to take profit at a strong resistance on the way up. In the next analysis I will share with you the best levels to sell and potentially short Bitcoin, so this will be very exciting, do not forget to hit the boost button and follow me! But I can already see a strong level around 104,500.
Trading tip at the end: Before entering a trade, you must know where your profit target is and where your stop loss is. Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
