฿ Bitcoin BTC/USD Daily Video, December 06, 2021

Sive Morten

Special Consultant to the FPA
Good morning,

Well, Roger in general has described the technical background. Indeed BTC stands at strong monthly K-area and we could get bullish grabber, that could change everything. But, it is long time till the end of the December still, and we should understand that the recent drop is not just some news reaction, but massive sell-off because of changing economical fundamental background. Once technical upside reaction will be over - BTC could keep going lower... That's why - to make decision on long-term investment, it would be better to wait for the end of December.



1st Lieutenant
Sive, I suppose you did not notice that weekly&monthly low is (much) lower tha daily and on lower TFs..
I have the same problem with Tradingview..
On MTF we have clear ABCD 100%, on WTF wave A has 5 legs but C only 1 leg..
I remain bullish regradless how low BTC goes but I am not trading it, just buying.. of course there is a big danger that ABC leg transforms into 12345..
I think we are in 2nd (corrective) wave of an impulse toward 100k+ (https://www.tradingview.com/x/cfscQBfb/)
Because of stops below 39.6k I really expect to fall below, only question is: how.. have changed my count a bit..