BTC update 02.01.2020

in btc •  7 months ago  (edited)

The new year starts with a bang called wave C.

If this is correctly identified as wave 2, we will see the beginning of a new impulse wave within the next 48h.

1PFXeEl6.png

The bearish alternate count looks like this and expects an ending diagonal in wave C of Z of 2 to end the bearmarket:

kaadgW2P.png

I don't care which of the two it actually turns out to be. Both are fine because upward movement is expected to start at the end of January at the latest.

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If you think this to be useful information:
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Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

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How low do you expect the price to hit before it rises? And at what price would you consider both patterns to be invalidated? Thanks

The first pattern is invalid below 6400 and the second one below 3130(but I would consider another count below 5000 because of disproportion).
6850 could be the low now or it could drop once more but I don't think it would drop below 5900.
And the bull market will be immediately in full force above 7530 because it invalidates the ending diagonal.

Cool. Thanks mate.

@ew-and-patterns, At the end of the day we need Upward Moving Trend. So let's hope for the best.

Wishing you successful and blessed Year 2020. Stay blessed.

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Thanks, man. Same to you.

Welcome and thank you so much. 🙂

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