Bitcoin: One More Try 50K?
First, the trend structure must still be acknowledged. The higher low at 40K is STILL intact (Wave 4 has NOT overlapped Wave 1). AS LONG AS THIS criteria exists, I will continue to expect a greater chance of follow through for LONG signals and setups. This means shorts are counter trend, HIGHER RISK and lower probability and should be assigned LOWER EXPECTATIONS.
Second, Wave 4's can extend (compound corrective structures), perhaps that is the best way to articulate what is going on here. This means a bullish Wave 5 into the high 46 to 50K area is still within reason. A surprise catalyst can sp ark such a move.
Third, I am going to assign probability expectations to zones within the 40 to 46K range. The zone between 40 to 42K is the HIGH probability BULLISH reversal zone. This is where I am MOST interested in new long setups. 42 to 44K is the RANDOM zone which means ANYTHING can happen here. 44 to 46K is the HIGH probability BEARISH reversal zone. Which makes it attractive for exiting long or taking VERY aggressive shorts (which I don't participate in).
Keep in mind, the bullish scenario can completely change upon unexpected news etc. The fact tha t price failed to break out signifies that there are many MORE longs stuck in this market hoping for a continuation. These longs can greatly add to the selling pressure upon any bearish surprise. Just something to think about.
The key skill in this game (if there is one) is the ability to extract actionable value from what appears to be common information WHILE simultaneously using it to ADJUST expectations. That is the passive mindset required to anticipate markets. The opposite side (logic) is what leads to reacting to markets.
Thank you for considering my analysis and perspective.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Report: OpenAI expected to spend $750 billion on computing power by 2030! The company still states that "computing power is extremely insufficient"
OpenAI has raised its 2030 computing power expenditure forecast to $750 billion, an increase of more than 25% compared to the previous estimate of around $600 billion. Bottlenecks exist in multiple supply chain segments such as chips, electricity, and land. Whether massive orders can be converted into usable computing power on schedule has become a key test for the AI infrastructure sector.
Trump presses the Federal Reserve to "cut rates to save the economy," but the market is betting on a 60% probability of a rate hike in September
Ahead of the Federal Reserve’s September monetary policy meeting (scheduled for September 15-16), U.S. President Trump and senior administration officials have made intensive statements, urging the central bank not to raise interest rates and even calling for a cut in the benchmark rate.
US energy stocks remain "cheap" after surging: High oil prices may lead to a valuation recovery
The Energy Select Sector SPDR ETF, which tracks US energy stocks, has surged over 43% year-to-date, far outperforming other S&P 500 sectors. Despite this, the energy sector remains one of the lowest-valued sectors within the S&P 500. High oil prices have led to excess profits for energy stocks; although Wall Street previously viewed this round of earnings growth as a temporary phenomenon, if elevated oil prices persist longer than expected, the valuation recovery of energy stocks may have only just begun.
Apple ties $119 Quest blood panel to new Health Age score
Crypto prices
More
