BTC - Next Wave Up

12月4日

Bitcoin is printing another bullish candle with lower wick.

The lower wick is a bear trap shakeout and this increases the chance of a significant move higher.

So with 2 strong candles, a third bearish wave of a 3 wave correction may have completed.

If correct, then this is the next wave up.

...

This area also appears to be a contraction triangle.

This is a cause building fractal that often leads to significant impulses.

Once Bitcoin gets above the upper trendline, we may see a change of pace.

All looking bullish here and dip buys have been available at the previous lower wicked candle.

Potentially up and you from here; through Michael Saylor's 100K party and much further beyond👍.

12月4日

ノート

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12月4日

トレード稼働中

BTC

In the blink of an eye Bitcoin is breaking through the upper trendline.

Dizzy and wild times ahead 🎆.

Bears are rekt and gone to bed 😴

12月5日

ノート

This idea went very fast. Bitcoin hits 103K !

12月5日

ノート

FLASH DUMP!!!



Who would have thought; just as Bitcoin 100K news reverberates around the world and novice traders come stampeding in to buy, the market makers had a rug pull in waiting 😅.

The technical signs were there.

Firstly TOTAL hit a critical 1.618 extension.



This was very similar to the 2.272 that it hit in March that led to a MAJOR correction.



I have alerts for these major fibs, so I received a TradingView alert a few hours ago.

They are very useful btw - but you do need to buy Premium to have alerts with no expiry.

Following this, Bitcoin printed an upper wicked candle and it became clear that a Wyckoff Top was printing.



Notice that the flash dump bounced at the $0.618 @ 91K.

That was the dip buy area.

The markets moved so fast that this was all done before I came to TradingView to update.

Now that it has happened, that is a significant breach of the bullish trend.

So its not impossible that it immedietly recover into the next wave up...

But I think that not the most likely outcome.

More likely we will see some extending correction and perhaps a further move down 🧐.