ew-forecast
Long

(VIDEO) BITCOIN Is Showing A Bullish Set-up

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Traders, welcome back to our new video analysis!!

Its been more than a month now since I posted latest video, but simply I will not update every tick by tick and tried to call any new leg if I do not have a clear view or enough price data for next prediction. Remembers, market has to breath. However, we still posted a lot of chart updates and showed the right direction. Now the question is where we go from here. Well, we definitely cannot ignore the clear bullish pattern that can be setting up here; an 8-wave EW cycle that can cause a bounce from current 61.8% Fib. level.

Enjoy the video!
GH            

p.s. Be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only. Please do your own research!
Comment: Good Saturday traders!
BTC is still very slow and we don't see five waves up yet, so it's a possibility that we could see new lows into ending diagonal for wave (5) of C towards 7k.
Comment: traders, we have seen a break to a new low into 7000/7200 area from where I see some very nice bounce on a smaller time frame.

Comment: So far nice turn up on bitcoin since we came out with idea of an ending diagonal. We see crypto breaking above wave four level quite aggressively which means price can be headed up into wave two zone of that same pattern, close to 10k. Any near-term pullback can stop at 8300
GH


Comment: Interesting price similarity as you can see between 4h and 30min charts. We remain bullish..
Comment: Five waves up and break above 9k would confirm bullish continuation..
Comment: Hello traders! Cryptos are still slow and looks like deeper correction is in play on BTC, but we remain bullish. We just think it's consolidating within uptrend. BTC support around 8300 still holds, but seems like it wants to retest 8000 level at 61,8% before turns higher, just keep in mind that bullish confirmation is only above 9000 level!
Comment: Key level, A=C, W=Y, do or die?
Comment: Deep corrections on Cryptos, but still valid! Keep an eye on bullish level!
Comment: Well, we got five waves down in C and still looks corrective. Deep correction retraced for 78,6%, so we remain bullish here, but strongly suggest to wait for a break above 8300 bullish confirmation level!
Comment: When everyone has already turned bearish, we stick and believe in our analysis!
Comment: Traders, BTC hit new lows, but still don't want to be bearish here. Structure looks corrective, so still think we will get a bounce just above 7300 invalidation level. First evidence of a reversal would be a break above 8000 level.
Do you remember a corrective wave B of a higher degree at the end of February and at the beginning of March, when BTC went almost back to highs? Same thing may happen here and that's why we want to focus on a higher timeframe analysis. Anyhow, it's not about who is right and who is wrong, the real point is to learn how to track markets and how to make right decisions when comes to trading and that's why is important to wait for confirmation levels.
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crypto_abed crypto_abed
@crypto_abed, is this possible?
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ew-forecast crypto_abed
@crypto_abed, hmm, yes it is if you think that's going to be a leading diagonal.

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crypto_abed ew-forecast
@ew-forecast, appreciate ur answer. thanks
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if i'm right next week a bit deeper and then up... up!

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EW is great, sometimes it's hard to see in which wave we are until we get more data and time passes but it can greatly help and often it shows what wave we are in instantly. If Grega has time, would love to see if we have an alternate count for this one.

On a larger timeframe, I couldn't help but notice we may be in a fifth wave down:

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NeverNO Repuzel
@Repuzel,

d'accord!
Reply
Seems we need another count, sir ;)
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EWs are garbage #sorrynotsorry
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Hos7ein kenzboard
@kenzboard, technical analyzes are garbage.without fundamental you cant make money..period!
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