moneyflow_trader

Bitcoin retrace to $35k then $15k once Apex of Triangle breaks

Short
moneyflow_trader Updated   
COINBASE:BTCUSD   Bitcoin
Based on 2 series of elliott waves I've calculated. I have listed the Daily and the Weekly. We are currently selling down on the C wave of the Daily Elliott Wave. There is a hidden Bearish cypher pattern, that initially bounced off of B leg, but we are showing a Triangle and its holding. The failed breakout will result in a retrace back below B leg and break $50, which leads us to my 1st target of $35k,,,

More updates will follow once we retrace to the $35k level
Trade active
Comment:
Comment:
Comment:
another c wave sell off, this is the right side of the bearish cypher pattern...
Comment:
I like to trade between multiple time frames, after viewing the long term trend. I also trade heavily off the money flow, and Accumulation/Distribution. I trust nothing but the MONEY. The rest is noise imho....

I also measure the money flow w/ fibs, and looking back on smaller time frames to confirm the larger trend.
Comment:
And I always focus on Triangles and make sure I look for the APEX OF THE TRIANGLE THESE ARE INFLECTIONS POINTS, and the trend tends to more so heavily favor the CURRENT trend of the Apex
Comment:
apex breached on 30min time frame
Comment:
The Short position was close, I will revisit the 3rd wave around 69k
Trade active
Comment:
Trade closed manually:
possible
Trade closed manually
Trade active:
back on the short position
Comment:
Comment:
Comment:
possible
Comment:
the picture gets more clearer
Comment:
4th wave up on the elliot wave, now basing
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.