UnknownUnicorn846565

"What's Going On With Bitcoin?" *A series of Ideas*

BITFINEX:BTCUSD   Bitcoin
Welcome Back!

This post will contain a series of updates where I will give my analysis on the overall picture of Bitcoin. Where we at doe? As mentioned on my youtube video
I will keep you guys updated on what's to come!

Taking a look at the 2D chart, Bitcoin has broken out of a downward pointing wedge.
This breakout signals a reversal, so it's important we hold support at once was previous descending resistance.
I'll dive deeper into current price and show y'all what I see!

God Bless, Vajolleratzii
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Currently finishing the 5x5x3 wave.
I see strong resistance at $8,800 where you could look to opening a possible short.
The 3 wave is generally the most impulsive wave so BTC could Fomo a little higher than expected. Use Stop-Losses and don't be a fool.
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Overall, once the final 5 wave is complete I expect price to venture back towards the old trend line prices followed for 6 months marked by the blue line. Will update as the trade progresses
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This was Gold before it was approved for an ETF.
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After it was ETF approved.
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Whales are buying the rumor of this ETF.
September is when the SEC votes, comment any info you might have about it :)
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Currently working on the retrace of the 3 wave.
How low it will retrace is yet to be decided. Price looks like current support is weak which is why i expect prices to bleed a little further to complete this 5th wave down. If prices hold support at current levels I will update my wave count. For now, I expect price to go lower
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Bigger timeframe perspective.
Watching to see how price reacts to this descending resistance.
Will the bulls claim this resistance as new support?
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