smb2222

BTC/USD Important Levels Approaching

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is a tough one guys. Bear Markets are hard to figure out. This is why I like the laddering method. I also have a catastrophic loss stop set on some markets as well. It all depends on your financial situation, time horizons and patience levels. I've been through some long ones over the years, so it's nothing new to me

If this ABCDE Triangle holds, then we should see some short coverings soon. If it fails then the Yellow support lines are were I put the bulk of my Long ladders.

The one thing to keep in mind when studying EW is the 5 wave impulse on the last bottom. I put a yellow arrow pointing to it. It was a perfect impulse with no questionable form or no EW rules violated. So an impulse means one of 2 things. Either a new bull run or ABC large correction is still in the process of playing out, or This is wave X of a large WXY or double WXYZ correction. The break of the white ABCDE triangle would tell me which it is. This is how i can play with my speculation money set aside while my core holdings stay in cold storage

The next 2 days should let us know what it's going to be
Love this chart LOLLOL....Finally a true elliott believer kkkkk. Despite this, my primary count is, since the lows, an irregular abc and now BTC is in wave 3. However these options are very valide. If my count is correct the bloodbath can't stop at this price, as I comment in my last chart. Regards.
Reply
smb2222 FilipeMiguel
@FilipeMiguel, Thanks Filipe...many don't realize EW isn't a price predictor, but just a tool to help us strategize.....i hope your count isn't right, because there are going to be some very depressed investors...:-) cheers friend
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out