Hello, everyone!

It's time to refresh our global Bitcoin analysis because I have some evidences that the new impulsive wave to the downside is about to happen.

Let's take a look at the 1D time frame of the BTCUSDT chart of the WhiteBit exchange. When we analyzing the Elliott waves first of all we have to find the minimal Awesome Oscillator value. It corresponds to the wave 3. I consider wave 3 has been ended at the $15500. Now our purpose is to find the wave 4 top to short the market and catch the wave 5. I have already opened short position at the very top $17300 and told you it here 5 days ago. I suppose that the wave 4 has been already ended because of the AO zero line crossover, but I am ready if BTC will show us another one leg up. Maximal target is $17800 where I can wait the price to enhance short position - it's 0.38 Fibonacci level.

I want you to notice that the 0.5 and 0.61 Fibonacci levels are unreachable because it will violates the Elliott waves axiom about non-overlaping waves 1 and 4. Hence I am waiting for the crash in the nearest weeks. The probable target for the wave 5 is $13200.

Best regards, Ivan

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