pupulandia

everybody bullish, H&S.. so is Bitcoin about to dump right now?

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is my personal very short term view of Bitcoin right now. I think there's a small leg up left and then we dump.
But be careful because I think that right after breaking the low of few days ago there's a nice bounce up waiting for!
Ley's have a look, I have an alternative count but this is the main one for the moment, and you'll see that the stop is right above the 61,8% retracement.

luv
®pupulandia
Trade active: The rejection was perfect but let's see the next move to be sure that the reversal has started or not.. right now this is the scenario I would like to see right now to confirm the move.. a 50% retracement and then a nice down move aas a 3rd wave..

luv
Comment: So the impulsive down move has not been confirmed, since the rejection we have been correcting again, and the volume was low too, I moved the stop to breakeven because there could be a last move up to the red line at 61.8%, around 8070$, so keep an eye!!
luv
Trade closed manually: I've just closed with a 3.3% gain, I will look to enter again
Trade active: So I entered long at 7500 for scalping the bounce but when I saw that my white S/R line at 7620 has flipped from support to resistance, I closed the micro scalp and reentered the short..
Comment: I'm going to close this at 7115 or so, in the next few hours..
Trade closed manually

Comments

nice work!
Reply
pupulandia superbinge
@superbinge, Thank's mate but take it just as an idea, because if a correct Elliot wave count for the past market is very difficult, predicting the future is almost impossible.. just a reminder
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usr32 pupulandia
@pupulandia, back to 7800?
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@usr32, who knows? :) there is a RSI bullish divergence on a 15min chart, personally on a 3min chart I'm waiting for a last down move to enter long at about 7470 on bitfinex for scalping before shorting again... zoom out and you'll see that a bounce is assured at 7470 or so..
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Yes if everyone is bullish we go down. However my wave count is different then yours.
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mate where on earth do you see h&s
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pupulandia mauroqau
@mauroqau, I don't see any, but check https://www.tradingview.com/markets/cryptocurrencies/ideas/ and you'll see plenty of bullish H&S charts.. It's just one more 'indicator' for me, when a lot of people think the same way there's a huge probability that the opposite way is the good one.
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I agree Bitcoin does this from time to time. I'll be look for a retracement at the top.
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I hope this is the case
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i think so too!
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