BITCOIN 6,000 USD, Patience - AND Them Stupid Elliott Waves!!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I have seen many storms in my life. Most storms have caught me by surprise, so I had to learn very quickly to look further and understand that I am not capable of controlling the weather, to exercise the art of patience and to respect the fury of nature Paulo Coelho.

Do you remember, when D4rkEnergY taught you about Heisenberg's Uncertainty Principle?

It is one of the most famous ideas and principles in physics. It tells us that there is a fuzziness in nature, a fundamental limit to what we can know about the behavior of quantum-particles and, therefore, the smallest scales of nature. Of these scales, the most we can hope for is to calculate probabilities for where things are and how they will behave.

The same goes for TA and trading. We can never be sure of where we are going, but the best trader is the one who is best at figuring out what is most plausible!

Why do you think I'm telling you guys this? Do you remember what I told you earlier today - that sometimes trading is a patience-game!

We can try to navigate through a storm..... BUT sometimes it's easier to wait until the storm has subsided.

D4 loves you <3

Please give a BIG LIKE - thank you so much, my friends :)
Comment: So what we are hoping right now is to see a big bounce on the double bottom (yellow circles inside the orange lines).

Comment: In my opinion it's still a waiting game. We are in a pennant now, which usually is a bearish sign after steep a downtrend. RSI and MACD still allows to go to around 6k, which is a double bottom, on 1D chart.

On the other hand I can also see arguments for we are done with our last 5th EW at 6,5k, and we are trying to go into reversal.

So even though I think, we most likely will go to 6,000 USD, I still don't want to enter a trade at this moment. We don't have to trade all the time. Most of the times, we in fact just want to wait. We still need more confirmation for a direction.

D4 loves you <3 Please remember to give me a LIKE and i would be SO happy :) And have a nice weekend. TY.

Comment: As you can see an inverse HS pattern has formed, which is a bullish sign, and under normal circumstances we could get long at the neckline, with a tight stop loss under. But please be aware of HUGE resistance at 7,200-7,300 USD area (78,6 Fib Level).

My advice is still to be patience.

D4 loves you <3 I hope you are enjoying your weekend!


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Pedrogomesadv VincentBoudewijn
Thank you. Like your analysis, particularly your use of volume profile..
Good read, double bottom i think is off the topic because i think target is @5.8k. Maybe a bull trap @ 6k bounce but that's should take us to where. Risky.
I wont count on double bottom, we will close weekly preety ugly...
I think the bear market is over

+3 Reply
Tendorian Tendorian
Click on the picture for the analysis
+2 Reply
@Tendorian, I agree
@Tendorian, I wish as well
@Tendorian, Bear market will be over when volatility will fade.
+1 Reply
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