BTC as expected hit a secondary high and then started falling. Next: will it go up or down?
Yesterday I posted a reminder to everyone: I said that at 86,800 there wouldn’t be a direct drop. Instead, price would move upward to hit a secondary high or even a new high. Sure enough, it matched my expectations. After the release of the non-farm payrolls, it made a secondary high and then started falling. From 87,200 it dropped straight to 83,800—a drop of 3,400 points. Did you catch that move?
So next, will it rise or fall?
Based on the current trend, I believe there’s one last push before the real wave 2 pullback begins. Where might it reach? There are two possible targets.
The first is around 86,000—this is the gap left during the 4-hour timeframe drop.
The second is after breaking the parallel top at 87,200 and then falling back—so I think a major drop is about to begin. But before that big drop, I believe there’s one final chance for an upward rebound.
The rebound prices could be 86,000 and also the breakout level of 87,200. As for which one exactly, I’m not certain yet—it depends on the specific situation before we can confirm.
So where will the rebound start from? Again, there are two potential points.
First: as long as it doesn’t break below 83,100. From there, the market could continue to form higher lows—possibly starting the rebound from the low at 83,800.
Second: if it breaks below 82,500 and then strongly reclaims it, and only then the rebound begins.
That means the bulls’ final attack is also likely to come from one of these two levels. Ultimately, where the rebound occurs will depend on where the 4-hour timeframe forms its bottom. My estimate is that the final push will start on Sunday or Monday. After the push, the best opportunity for a wave 2 pullback short will come. For the short, the first target is 80,000–81,000, with a longer-term target of 75,000!
Yesterday I posted a reminder to everyone: I said that at 86,800 there wouldn’t be a direct drop. Instead, price would move upward to hit a secondary high or even a new high. Sure enough, it matched my expectations. After the release of the non-farm payrolls, it made a secondary high and then started falling. From 87,200 it dropped straight to 83,800—a drop of 3,400 points. Did you catch that move?
So next, will it rise or fall?
Based on the current trend, I believe there’s one last push before the real wave 2 pullback begins. Where might it reach? There are two possible targets.
The first is around 86,000—this is the gap left during the 4-hour timeframe drop.
The second is after breaking the parallel top at 87,200 and then falling back—so I think a major drop is about to begin. But before that big drop, I believe there’s one final chance for an upward rebound.
The rebound prices could be 86,000 and also the breakout level of 87,200. As for which one exactly, I’m not certain yet—it depends on the specific situation before we can confirm.
So where will the rebound start from? Again, there are two potential points.
First: as long as it doesn’t break below 83,100. From there, the market could continue to form higher lows—possibly starting the rebound from the low at 83,800.
Second: if it breaks below 82,500 and then strongly reclaims it, and only then the rebound begins.
That means the bulls’ final attack is also likely to come from one of these two levels. Ultimately, where the rebound occurs will depend on where the 4-hour timeframe forms its bottom. My estimate is that the final push will start on Sunday or Monday. After the push, the best opportunity for a wave 2 pullback short will come. For the short, the first target is 80,000–81,000, with a longer-term target of 75,000!
