Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
I'm not an expert.
Just like you, an ordinary person. :)
_____________________________________________________
Introduction
Hello, Guys. I just have to update the Elliot Wave Counts of Bitcoin on the Weekly Timeframe. I know most of the people right now in Crypto Community is fearful, uncertain and doubtful on the events like, Luna, Celsius and 3 Arrow Capital. Better to have your own wallet than to deposit it somewhere. Right now, I’m fully fiat and stable coins but having some caution on stable coins due to recent events. See some potential buying or HODL opportunity but still observing as of the moment. Most likely, scalping and some short swing trade as of the moment.
My previous Technical Analysis on Bitcoin last November 9, 2021 is definitely wrong. I did not see the 3 Waves of B. I thought that it was a 5 wave move. In February 25, 2022, I see a potential Expanded Flat Correction that price may make as low as $ 20K but most of the Elliot Wave Traders sees it as a running flat. So, I’m confuse which corrective pattern it could be and decided to go with running flat but not removing a possibility of expanded flat. As you see in the last two technical analyses on Gold (April 4, 2022) and COMPUSDT (March 30, 2022), I’m bullish but I’m wrong. At the end of April 2022, I’m convince that it’s really Expanded Flat Corrective Pattern and sell all holdings even some coins at loss to protect my capital on making more losses. Then, revenge short trades on May 2022 to present. :(
Move on…..
Maybe in the next weeks to come I post a Technical Analysis but right now I'm seldom to post one as you notice.
____________________________________________________
Elliot Wave
As long as the High of Wave 1 at $ 13,880.00 is not breached by the actual low of recent Wave 4, this technical analysis is still valid. Invalidation comes when price is lower than $ 13,880.00 the low of Wave 4. Right now, the Expanded Flat Correction (3-3-5) may potentially complete as it reaches the target 1.618 Fibonacci at $ 18,326.91 but It can go lower as low as $ 15,785.06 or 1.786 Fibonacci at $ 15,970.07. For me, correction still not yet done because selling pressure still strong. We might see short term price bounce then continuation of downtrend. Those Green and Red Box is the area of potential buying opportunity. As you see in the chart, MA 200 (Black) has been broken. Maybe in the next weeks to come it may test MA 300 (Blue) potentially at $ 16,579.88. If you see an indicator called TD Sequential, you can see that the Month of June 2022 is TD Sequential # 7. If a series of downtrend may come or downtrend while in accumulation, July 2022 will be TD Sequential # 8 and August will be TD Sequential # 9. We might see a pump or potential bull rally in the first week of September 2022, But still we have to observe it. Other information is in the chart.
___________________________________________________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
I'm not an expert.
Just like you, an ordinary person. :)
I'm not an expert.
Just like you, an ordinary person. :)
_____________________________________________________
Introduction
Hello, Guys. I just have to update the Elliot Wave Counts of Bitcoin on the Weekly Timeframe. I know most of the people right now in Crypto Community is fearful, uncertain and doubtful on the events like, Luna, Celsius and 3 Arrow Capital. Better to have your own wallet than to deposit it somewhere. Right now, I’m fully fiat and stable coins but having some caution on stable coins due to recent events. See some potential buying or HODL opportunity but still observing as of the moment. Most likely, scalping and some short swing trade as of the moment.
My previous Technical Analysis on Bitcoin last November 9, 2021 is definitely wrong. I did not see the 3 Waves of B. I thought that it was a 5 wave move. In February 25, 2022, I see a potential Expanded Flat Correction that price may make as low as $ 20K but most of the Elliot Wave Traders sees it as a running flat. So, I’m confuse which corrective pattern it could be and decided to go with running flat but not removing a possibility of expanded flat. As you see in the last two technical analyses on Gold (April 4, 2022) and COMPUSDT (March 30, 2022), I’m bullish but I’m wrong. At the end of April 2022, I’m convince that it’s really Expanded Flat Corrective Pattern and sell all holdings even some coins at loss to protect my capital on making more losses. Then, revenge short trades on May 2022 to present. :(
Move on…..
Maybe in the next weeks to come I post a Technical Analysis but right now I'm seldom to post one as you notice.
____________________________________________________
Elliot Wave
As long as the High of Wave 1 at $ 13,880.00 is not breached by the actual low of recent Wave 4, this technical analysis is still valid. Invalidation comes when price is lower than $ 13,880.00 the low of Wave 4. Right now, the Expanded Flat Correction (3-3-5) may potentially complete as it reaches the target 1.618 Fibonacci at $ 18,326.91 but It can go lower as low as $ 15,785.06 or 1.786 Fibonacci at $ 15,970.07. For me, correction still not yet done because selling pressure still strong. We might see short term price bounce then continuation of downtrend. Those Green and Red Box is the area of potential buying opportunity. As you see in the chart, MA 200 (Black) has been broken. Maybe in the next weeks to come it may test MA 300 (Blue) potentially at $ 16,579.88. If you see an indicator called TD Sequential, you can see that the Month of June 2022 is TD Sequential # 7. If a series of downtrend may come or downtrend while in accumulation, July 2022 will be TD Sequential # 8 and August will be TD Sequential # 9. We might see a pump or potential bull rally in the first week of September 2022, But still we have to observe it. Other information is in the chart.
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
I'm not an expert.
Just like you, an ordinary person. :)
