Trading

Bitcoin will hit $22300 before crash!

. Let's continue do our exercises with the Elliott waves and try to anticipate the targets for potential bounce.

Hello, everyone!

The Bitcoin price is following my scenario which I pointed out last time. Let's continue do our exercises with the Elliott waves and try to anticipate the targets for potential bounce.

Let's take a look at the 4h timeframe BTCUSDT chart of the Whitebit exchange. The price now is in global wave 5 of the bear market and the wave 1 inside this wave 5 have been already ended in my opinion. Why? Let's look at the structure of this wave 1. We have subwave 1, short subwave 2, impulsive subwave 3, long wave 4 in terms of time and the wave 5 which ended with the confirmed divergence with the awesome oscillator. Now I am waiting wave 2 which have the main purpose is to collect liquidity of short traders above the $22000 before the new crash (wave 3). We have also the Fibonacci retracement target at $22300 (Golden pocket) which will be reached in couple of days with the high probability.

Good luck!

Trade on WhiteBIT! Use this link to register and receive 40% of trading commissions from your invited users!

Trade easy with Smart tools
Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform
Get started

Similar blog posts

Experience the next level of trading efficiency