khatribhavin20
@t_khatribhavin20
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khatribhavin20
khatribhavin20
Bitcoin is gonna see first recession. Expecting it to retrace to crucial support of 6900 $ in near time.
khatribhavin20
Expecting to open long at 26750$. We will see 30500$ this month as short term correction before moving down further to retest 2022 lows
khatribhavin20
I am trying to correlate current monthly chart of Btc with weekly chart of BTC when BTC was in bear market after touching 1100$ for first time. I see lot of correlation till now between weekly chart of that period with bear cycle monthly chart.1100$ Bull Cycle - Weekly chart - took 8 months to reach top after starting of bull cycle69000$ Bull Cycle - Monthly chart - took 40 months to reach top1100$ Bear Cycle - Weekly chart - First bear cycle wave took 4 months 10 days 69000$ Bear Cycle - MOnthly chart - Have taken 21 months till now for first wave (assuming this to be end of first bearish wave in 3 wave bearish structure)1100$ Bull wave in Bear Cycle - Weekly chart - Bull wave continued for 2 months (precise - 1 month and 26 days) 60000$ Bull wave in Bear Cycle - Monthly chart- Bull wave will take approximately 9 monthsNot able to post monthly chart RSI here but one can correlate RSI and MACD also between monthly and weekly chart.Expected Bullish wave top - 39k-42k - 9 months period starting from December 2022
khatribhavin20
Highlighted the current resistance in above chart. 51500 is a clear resistance. Sell it here and wait for buy opportunity once a candle close above this.
khatribhavin20
khatribhavin20
Seems to be bull trap. Don't be part of herd.Watch out for area around 47900 - 48200You can try catching it at 38k for 5 % profit.
khatribhavin20
Is the same fractal repeating at the top?Price Target - 40000 - 40500
khatribhavin20
Look for TP1 - 108000$ around Oct-Nov 2021Look for TP2 - 260000$ around Oct-Nov 2022
khatribhavin20
Bitcoin rally looks to be exhausted. Repetitive pattern from Wave 1 as highlighted. It is better to take profits at around 48500$ level. It might go all the way to 50k also before reversing or it can catch trader on the wrong foot again by reversing from 49k level itself.
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