BTCUSD soon to encounter biggest correction of all time.
As you can see from the chart that previous wave dated 16/8, BTC price @4480 USD and take a small correction before making all time high dated 1/9 @4935 USD, MACD was showing a divergence but price still gone up regardless. Price has gone up to the point that MACD went up and most of the trader open long position because of bullish mood (01/09) The price tricked traders to enter Long position at the new high before sharp correction to 2990 USD.
This time MACD has peaked again (at least from my point of view) and seem to repeat the same trick, BTCUSD has small sell off to make MACD move downward, to create bearish mood (dated 24/10). Thats why many traders seem to has opinion and recommended shorting BTCUSD.
From today onward (dated 30/10 @BTCUSD 6150 ) you will see a hugh rally on BTCUSD to around 6700-6900 USD or so, might not reach 7000 USD i persume. This final rally will drive MACD and other indicators up to create a buy signal, and as always, many traders will got caught in because of all time high price of BTC.
So from my point of view this will be the last bubble before BTC taken the largest correction to around 3100 USD (support trend line is there), and than will be total of 4000 USD correction, largest losses amount we have ever seen.
The reason that BTC will take large correction (before move on to 10,000 USD in few years) are
1. It is pretty obvious that there are already total of 3 rally that really hugh from around 1000 USD (counting from March 2017)
2. MACD (day time frame) has to come down at some point, but due to this is the fifth wave, this correction will be larger than previous one.
Hope my opinion can make your port grown exponentially, if i were correct.
This time MACD has peaked again (at least from my point of view) and seem to repeat the same trick, BTCUSD has small sell off to make MACD move downward, to create bearish mood (dated 24/10). Thats why many traders seem to has opinion and recommended shorting BTCUSD.
From today onward (dated 30/10 @BTCUSD 6150 ) you will see a hugh rally on BTCUSD to around 6700-6900 USD or so, might not reach 7000 USD i persume. This final rally will drive MACD and other indicators up to create a buy signal, and as always, many traders will got caught in because of all time high price of BTC.
So from my point of view this will be the last bubble before BTC taken the largest correction to around 3100 USD (support trend line is there), and than will be total of 4000 USD correction, largest losses amount we have ever seen.
The reason that BTC will take large correction (before move on to 10,000 USD in few years) are
1. It is pretty obvious that there are already total of 3 rally that really hugh from around 1000 USD (counting from March 2017)
2. MACD (day time frame) has to come down at some point, but due to this is the fifth wave, this correction will be larger than previous one.
Hope my opinion can make your port grown exponentially, if i were correct.