Hi traders we have been on top of the crypto's since I started writing about them and now we aret seeing a potential bullish reversal sign. You can check my videos and or previous post to gain some context. I will be looking for a consolidation before I buy Bitcoin for a move higher that is expected to break above 11750.
IF we do not see a consolidation price can still make a new low, even when price takes out the low 5900 the structure will not change and I will remain focused on the buy.
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guy's it looks like we are reversing bullish after a consolidation. Agressive buy can be executed where a more conservative buy would be to wait for confirmation of this minor break by means of a minor consolidation.
Note; I post here on TV to help out retail traders, however you have to trade based on your own trading plan because I am not able to respond that often, that fast. So use my posts for educational purposes and trade responsible. Trading is a long term game and I do this for more than 14years, have seen most retail traders leave the business because they lost their account as a result of overleveraging and/or overtrading, so be disciplined is my advise. Have a nice week and Eastern. I'll be back this weekend with a video with my weekly outlook.
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we did not see a minor correction as mentioned, be patient because we are still correcting:
Tim, thank you for your posts. It's quite unbelievable how correct you are in your forecasts. Do you base your trading only on the Elliott Wave theory? I'm used to see many support and resistance lines, channels, boxes etc. in other traders' charts, but not in yours.
TimStuyts
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@nummus, hi nummus Elliott wave structure is leading in my analysis although I do not count every wave just to keep an open mind. I like to work with clean charts so I can focus on what the charts tell me. Most of my lines etc are an indication of what I am looking for in terms of what pattern I believe is unfolding.
WaqasRaja
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Thanks for sharing, Tim. Great analysis as always. Much appreciated.