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Do you know what will happen if BTC ever break 64k Resistance? for BITSTAMP:BTCUSD by weslad

Hey guys,

It’s been a very long time here, well your man is back, weslad is back with full force. Let talk about BTC , if you all can recall my analysis where we pick the bottom for you guys, although many doubting Thomas among us were calling names then, where we long BTC from relative low of 29k plus, well that view still remain and pretty much holding.

The plan still in progress although we have major attention shifted to the current ATH towards 64k zone.

We have very huge potential to break this considering the current level of RSI and by going with the secret principle of Elliot wave with contraction and expansions.

Wave 1 correction to form wave 2 was holding towards 78%-88.6% which indirectly telling us to expect a lower correction after wave3 to give wave 4 with max expectation of 38% and we did got cool reversal from 23% zone, which made us conclude the immediate bottom was in then.

Although, be very careful not to long from the top area of 60k-64k, do make sure to see it break before jumping into it, unless you are holding from our previous entry zone.

Thank you and do make sure to stay around for market updates.

Note:

It will be good to always understand risk involve in trading. Always trade with stop Loss in place.

Set up an entry/exit strategy for every trade, with good risk/reward ratio. Wish everyone success.

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