BitcoinLong
BITCOIN - Bending Into The Next Wave Up
Updated
BTC
Notice that since the whipsawing and liquidity sweeping 3 wave correction, Bitcoin is bending up and away from the ascending demand trendline.
As we looked at and expected; the Morning Star was was the foot of this next wave up:
And it would appear those two events link a high time frame correction into the next high time frame wave up.
BTC is close to hitting 108K as I write this.
Up and up from here I think 🧐.
Not advice
Notice that since the whipsawing and liquidity sweeping 3 wave correction, Bitcoin is bending up and away from the ascending demand trendline.
As we looked at and expected; the Morning Star was was the foot of this next wave up:
And it would appear those two events link a high time frame correction into the next high time frame wave up.
BTC is close to hitting 108K as I write this.
Up and up from here I think 🧐.
Not advice
Trade active
Plenty of accuracy in my previous ideas as bears dream of dump action.
BOOST / Comment if you like my work 👍
Note
BTC
Nice bounce.
This slightly higher high whipsawing peak signalled that there could potentially be a higher time frame bearish threat
But with this bounce, it significantly reduces the possibility of a higher time frame bearish move.
It could yet be that this area is a higher time frame distribution but that is now also less likely.
So we had a few hours of higher time frame bearish threat but it appears to have been nullified.
And now with this bounce there is the possibility that this area might be a low time frame shakeout that has become a 3 wave running (higher low: bullish) correction.
We could yet see some more bearish impetus but at this point it doesn't look like there is much bearish cause.
This area I think has to be the last chance or very nearly the last chance for there to be any hidden bearish cause in higher time frame to bring this tumbling back down.
If it continues on up then there is no structure to hold it back; only sky upward.
And historically when that happens, it is when Bitcoin really starts to fly ✈️.
So we'll see how it develops 👀.
Note
If this is a running (higher low) correction then it will be a connective wave.
This means that another wave up will follow and that would most likely be more impulsive.
So we might just see some significant pump action if this corrective high gets taken out 🧐.
Note
Dumped hard with indexes post interest rate cut today.
But with bonds also dumping and looking bearish for some time, I think this is a bullish clue.
Typically markets experience plenty of whipsaw after changes to the interest rate and we've had a wild wave down in indexes today.
This could well be the first wave of a whipsawing trend in process in the stock markets
S&P500
So most likely I think this dump is the third wave of a higher time frame running correction with pivots taken from the high and low of the early December flash dump and the recent ATH.
The obvious ratio band to capture the pivot is the 1:0.618 Golden Window from 99.9K - 97.7K.
Could be a much larger wipeout but considering how Bitcoin will likely move with indexes if there is post rate cut bullish whipsaw, I think that is less likely.
So the bottom for this area could be near 🧐.
We're into the Trump presidency bull phase🥳.
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I have great trades and monitor many assets❕
Many Trade Ideas Every Day 📈
Regular videos ✨.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
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