After seven bullish minor waves in H4 t.f., later on chart reached 65.5k with a HH shadow that hits 300% of previous candle putting fibo. inside of it, on coordinates 64500 and 64k. The red parallel channel shows where chart feel atracted. Combining this aspects I can assume chart will go bearish for the moment. Later on, it should reach 57k at least, completing volume correction. Then, it can go up if corrections are needed.
Trade active:
The two small green candlesticks where made. This is an imitation of previous HH.
On the contrary, chart bullishtrend is still strong because a weakened phase has passed (sideways without true intention) and now is on the strong phase (starting with the recent bullishtrend). So, instead of going full bearish, it may do some sideways first and then go bearish.
The two small green candlesticks where made. This is an imitation of previous HH.
On the contrary, chart bullishtrend is still strong because a weakened phase has passed (sideways without true intention) and now is on the strong phase (starting with the recent bullishtrend). So, instead of going full bearish, it may do some sideways first and then go bearish.
Trade active:
Trade active:
Is rising with EURUSD which means that USD is on the lead. We can expect more bullish movement, still, bearish E.W. hasn't finished. What chart will do? Analysing simple, it will go bullish for the time being to reduce fifth wave length. When EURUSD make retracement, bitcoin will finish the bullish retracement and continue bearish for fifth peak. Staying simple and logic is the best way to trade.
Is rising with EURUSD which means that USD is on the lead. We can expect more bullish movement, still, bearish E.W. hasn't finished. What chart will do? Analysing simple, it will go bullish for the time being to reduce fifth wave length. When EURUSD make retracement, bitcoin will finish the bullish retracement and continue bearish for fifth peak. Staying simple and logic is the best way to trade.
Trade active:
E.W. formation has broke. Settled two sets of ae.w.. We will need to wait for one more wave with one red candle on it. This gives opening to more bullish movement, but seeing how EURUSD made a stop, chances of falling increase.
For the ones that SL has been hit, you can open operation now or wait until chart makes a green candle after a red candle.
I'll open one now because later on probably I'll be sleeping.
Good and Peace.👋
E.W. formation has broke. Settled two sets of ae.w.. We will need to wait for one more wave with one red candle on it. This gives opening to more bullish movement, but seeing how EURUSD made a stop, chances of falling increase.
For the ones that SL has been hit, you can open operation now or wait until chart makes a green candle after a red candle.
I'll open one now because later on probably I'll be sleeping.
Good and Peace.👋
Comment:
D1 t.f. Shows big bearish correction. I guess because of the large bullish trend, it haves a need to do big retracement. Still, E.W. has formed, so, can't say if this is true and will ignore E.W. support zones. Analyzing all this, the best BTC can do is go full bearish and stablish a double bottom or lower. With the recent bearishtrend it has done an inversed cup and handle pattern, it is a great opportunity to break support zones and reach the goal. Since it is like this, chances of it to keep going bearish would increase, reaching about four times the inversed cup.
Keeping the trade open is wiser. No need to open new and risk SL hunt. We can keep it until end of next week (probably until wednesday). If you close operation, open one when chart makes an double top with two green candles. You can open one now but the risk is big. It's better to loose the trade then to risk it.
D1 t.f. Shows big bearish correction. I guess because of the large bullish trend, it haves a need to do big retracement. Still, E.W. has formed, so, can't say if this is true and will ignore E.W. support zones. Analyzing all this, the best BTC can do is go full bearish and stablish a double bottom or lower. With the recent bearishtrend it has done an inversed cup and handle pattern, it is a great opportunity to break support zones and reach the goal. Since it is like this, chances of it to keep going bearish would increase, reaching about four times the inversed cup.
Keeping the trade open is wiser. No need to open new and risk SL hunt. We can keep it until end of next week (probably until wednesday). If you close operation, open one when chart makes an double top with two green candles. You can open one now but the risk is big. It's better to loose the trade then to risk it.
Trade active:
I was checking volume corrections and found out that chart leave behind a high volume candle. I believe in the E.W., but, if it goes wrong, it will be to make the double top. Since chart is still going down, there is no problem.
On another note, sideways has been developing giving open doors for more bearish movement. It will depend if sideways makes a retest below the yellow box zone.
I was checking volume corrections and found out that chart leave behind a high volume candle. I believe in the E.W., but, if it goes wrong, it will be to make the double top. Since chart is still going down, there is no problem.
On another note, sideways has been developing giving open doors for more bearish movement. It will depend if sideways makes a retest below the yellow box zone.
Trade active:
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E.W. didn't work. Analyzing my mistake, there was no problem. It seems that it's a new data out of my knowledge. Having double bearish trend and no E.W. it's something to think about.
Putting the mistake aside, market can go more bullish. If it makes a third top, it will need three to five waves to start bearish again. EURUSD hit volume atraction too, so they have good coordination. We will need to wait patiently.
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E.W. didn't work. Analyzing my mistake, there was no problem. It seems that it's a new data out of my knowledge. Having double bearish trend and no E.W. it's something to think about.
Putting the mistake aside, market can go more bullish. If it makes a third top, it will need three to five waves to start bearish again. EURUSD hit volume atraction too, so they have good coordination. We will need to wait patiently.
Trade closed manually:
Bitcoin is now on a divergence with EURUSD. Since USDCAD is on coordination with bitcoin (taking it as reference) we can expect that USD has weaken and in a bullish scenario, it can be of high volatility.
High volume candle was left behind so chart is already showing signs of bullish movement.
Now is the best time to close trade and with profit or low losses. Still, there is a chance that it can go more bearish but it's really slim, I don't actually recommend it.
Bitcoin is now on a divergence with EURUSD. Since USDCAD is on coordination with bitcoin (taking it as reference) we can expect that USD has weaken and in a bullish scenario, it can be of high volatility.
High volume candle was left behind so chart is already showing signs of bullish movement.
Now is the best time to close trade and with profit or low losses. Still, there is a chance that it can go more bearish but it's really slim, I don't actually recommend it.
Prediction was succesful. Chart made the red candle and the green one, went full bearish and didn't even do the first wave for E.W. giving opening for a great retracement. Stay alert, chart can go even more bearish.
We can take trade now, or keep it SL tracking. I'll not close trade because I'll wait and see full E.W.