cryptodisco

Is Bitcoin About to Start Wave E?

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello Traders,

Here is some new TA which I have been working on. Ive modified the EW cont to now have an ABCDE type correction for wave B.

I have added pivots and S3 seems to line up perfectly with the uptred support line at $7050-$7100 ish .

Im thinking a drop to S3 pivot and then bounce to complete wave E.

Lets see.
Comment: If it breaks S3 it will get bloody.
Comment:
Comment: Funny how things change every 10 minutes. Those pivots are for last week. We have a new set of pivots now. Also looking at other TA there is a poss bounce first then bottom test. Lets see.
Comment: I am super cautious about this bounce. We have hit the top of that wedge already and did not have a firm test of the trend support line. Dont feel this market is that bullish to not test support line, but who knows. Lets see.
Comment: lol posted in comment section. Much happier now we have cleared that wedge, would like to get well away from it though. Nice bit of bull div on this bounce.
Comment: Ok so it would seem wave 1 + 2 are complete with a 0.382 retrace, bull div on the 2hr and bulls moving towards the pivot acting as the bounce zone. Here is my projected wave 3.
Comment: Epic trap action around that pivot. Bitfinex is down now, twice.
Comment: Well I was sweating for a while there stuck in a long with Bitfinex down feeling helpless and then a big fat greeny popped up to take back the pivot. Still talks going around this could be in the middle of a deeper retrace. Set my stop in case.
Comment: Hope this is the play, more or less. No traps lol.
Comment: The chat was so bearish yesterday after a 2% drop to the pivot but what happened, a load of shorts were opened and then got squeezed as BTC came back with more large green candles. Still convinced we are in wave 3.

Comments

The chat was so bearish yesterday after a 2% drop to the pivot but what happened, a load of shorts were opened and then got squeezed as BTC came back with more large green candles. Still convinced we are in wave 3.
Reply
Much happier now we have cleared that wedge, would like to get well away from it though. Nice bit of bull div on this bounce.
Reply
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