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Tuesday update - Bitcoin

[Bitcoin 1D (Bitfinex) - Macrocount]

Dear subscribers

As the majority of traders celebrate Christmas and spend time with their families, the market continues to trade sideways.

I really enjoy the calm ambience which is typical for the Christmas holidays in my home country, and I hope that everyone of you can relax after this challenging year...

Meanwhile, bitcoin and the whole market remain pretty much flat after they established a small top at 18'400$. I took some time to look at other people's ideas on here, and I guess that most traders are split between 50% "The bull run is back" and 50% "We are going to see a new low!".

My team and I remain bearish for bitcoin, especially after we correctly predicted another major correction back in October!

The market was trading around 19'600$ at the time, "thanks" to the FTX Collapse we crashed to 15'600$. [b]Now take a closer look at the highlighted 1.414 extension back then and see for yourself how accurately this target was reached...[/b]

So yeah... We are still expecting another wave down, mainly because of our count and the leading diagonal which points towards a classic "ending movement" in a wave 5.

[Bitcoin 4H (Bitfinex) - Microcount]

Additionally, I want to announce that we are going to start to cover bitcoin and ethereum more frequently in different micro counts in the next year. A lot of people reached out to us because we didn't regularly update our counts and ideas, I promise that we are going to make a BIG change in 2023 regarding this.

For everyone who wants to trade this movement, consider the following parameters...


Entry: Now or @ 17'200$

Stop-loss: 18'400$

Take profit 1: 14'000$

Take profi 2: 13'200$

Enjoy the holidays!

Benjamin Mendenmein