Bitcoin is at a critical juncture. The 2 main wave counts being monitored now are the completed FLAT in blue which calls for a new 5th wave leg up towards 14,000, with the sunbwave 3rd in progress right now, or we are still developing either a wave 4 or a larger wave 2 in red , that will most likely shape up as a complex correction wxyxz or a wxy. Both counts are very much valid and unless bitcoin passes 13,200 , the bears can have a justifiable upper hand to short into the current levels or even 1000 points higher from here. Both as a trader and as an analyst , it's important that we identify the type of moves that lie ahead and be on the lookout for what can provide an edge going forward. As much as I prefer the bullish blue scenario based on the time elapsed so far in the correction, i cannot be blind to the fact that the present levels do provide the bears with good risk rewards. It will take another 2,000 dollars of impulsive price action to convince me the bulls are regaining control. As an elliot wave analyst I continue to remain neutral based on these facts as i have been since jun 19th and let the market forces battle themselves out. As a trader , you need to be ready to pound the opportunities when the edge presents itself and leave your bias at the door. In the end you are here to make money by being better prepared.
My telegram channel "COWBOY CRYPTO MARKETS" and our crypto room "COWBOY CRYPTO ROOM" discusses more detailed updates and lower time frame charts. If you want to learn more about Elliot wave , it's a good place to get live market info and familiarize yourself with the wave counting process. Just go telegram and search in the search-bar the mentioned names. The traders there have been learning the ropes of this methodology very quickly by being exposed to regular updates and explanations of different wave counts !
My telegram channel "COWBOY CRYPTO MARKETS" and our crypto room "COWBOY CRYPTO ROOM" discusses more detailed updates and lower time frame charts. If you want to learn more about Elliot wave , it's a good place to get live market info and familiarize yourself with the wave counting process. Just go telegram and search in the search-bar the mentioned names. The traders there have been learning the ropes of this methodology very quickly by being exposed to regular updates and explanations of different wave counts !
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NEW VIDEO UPDATE on youtube under "cryptocowboy" account ! posted today.