D1 I'm still waiting for the downside to complete before we get the internal C up(see D1 idea)
H4 I'm still looking for the Z down to complete the structure (see H4 idea) but that will depend on what we get on H1. Will we get a H1 C down or the wave Y down as I'm forecasting?
H1 we got a long drawn out complex correction so I can expect at least a C down. Y down I can't rule out and we will need that if the H4 Z plays out.
Look for sell signal against the invalidation point 1st targeting the 100fib. moving to BE when price breaks W wave.
For the longer term investors if we get the H4 Z down that will give you a nice opportunity to buy for the longer term, at this stage there is no buy setup's that I can see so you need patience before you start loading up! ( I will put out a new D1 longer term idea once I have more data that a low is in place)
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BTCUSD H4 Update, Z down? Checkout the idea detail's and all the update's to get up to speed.
D1 idea. Checkout the idea and all the update's for the complete picture thank's.
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For those that are bullish we are getting a bull flag breakout, you can take the trade but in my view it's quite risky so if you decide to take it keep a tight SL and move to BE ASAP. I'm still quite bearish at this stage, the bull flag I think will just be a internal C up then it may fall over. If your in the sell place your SL at either the H4 invalidation point or the H1 invalidation point see on this idea.
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The H1 invalidation point has been hit for this idea, H4 invalidation point still holds at this stage. Price not looking impulsive at all to the upside so there's a couple different structure's that can come out of this, all are bearish. I would advise to be very careful buying, like I said there is nothing motive to the upside on the H4 that I can see at this stage. I'f price breaks above the H4 invalidation point we may then get a short term buy setup. I'll put out a new idea on the weekend explaining in depth but here's one way i'm looking at it now on H1.
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New D1 idea out, Check it out thank's. BTC D1 Wave C up, Running or Expanding flat.
Now it makes sense.
See you on the next idea, friend.
MagdyEl-Nidany
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Updates ?
Boon2
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@MagdyEl-Nidany, BTC D1 Wave C up, Running or Expanding flat.
MagdyEl-Nidany
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@Boon2,
I wish i saw this post before i bought near 6k
I am believing in this scenario or maybe i wish it comes true to get out of that trap :)
Thanks Boon.
Boon2
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@MagdyEl-Nidany, No problem, glad I could help, if you ever have any question's about what's going on in the chart's and want my prospective just ask, PM or comment on a idea. If your long I don't think the upside is over so you may get a chance to get BE or take a little profit. It's impossible for me to know how high D1 internal wave C will go but looking at H1 we have impulse up smaller impulse down and I think were in a B wave now (choppy just breaking the top) so I'm expecting to see an internal C down then upside. If I get the internal C down I'll be looking to buy. To buy into the market now you can only buy above the high and it's very risky so for me I need to see the internal C down.
TomPower
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I hear u dude, but jezuz had I known we had a little more upside could have been in on some alt moon coins. I seen one RVN explode.
Dojari
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This view is definitely supported by price action looking weak on the bigger timeframes on the bullish side, thus suggesting more downside movement has a higher chance of playing out than this so called bullishness some are assuming too easily (hope rather than objectivity?). So yeah, agreed. And of course a like from me. Thanks for your view boone.
Boon2
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@Dojari, Thank's for your support Dojari, I agree and my bearish view can't change unless price break's above the H4 invalidation point. If that happen's I will then need to look deeper into what's going on.
Dojari
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@Boon2, Idk, for me to become longer term bullish - I mean a real bull run, not just a countertrend retracement (the trend is down on weekly chart), price has to break and hold a lot more, up into the 5K's. IMO. Below that for me are countertrend retracement "bull moves".
See you on the next idea, friend.