Bitcoin 27 SEP - Elliott waves | Gann | Astrology $BTC
As expected BTC declined on 24 SEP, further helped by news that China bans cryptocurrencies (again?) to restrict the flight of capital from the country. Gann level 41884 remains support as price consolidates on it.
The decline gave us an ABC correction, potentially a wave (ii), which means that we may expect an expansion of volatility in a wave (iii) this week.
On the bearish side we can equally count a wave (ii) completion so that the expansion of volatility can go the other direction as well. When buyers step in and hold the 50-60% retracement (blue box) we may gain more directional clarity to develop a trading idea.
Bitcoin option sellers may consider widening strikes.
Correlations: US markets may follow European markets in digesting the results of Germany’s election. DAX slightly bearish in the morning after centre-left party SPD emerged winner. Fears of more regulation and bureaucratic micro-management in Europe’s largest economy persist.
28 SEP brings Sun in square to natal Mars and Mars in trine to natal North Node, two minor, slightly bearish aspects. No major constellations to influence BTC this week so that we rather focus on correlations with QQQ and DXY.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Become a patron for regular updates & trading ideas: www.constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
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STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
The decline gave us an ABC correction, potentially a wave (ii), which means that we may expect an expansion of volatility in a wave (iii) this week.
On the bearish side we can equally count a wave (ii) completion so that the expansion of volatility can go the other direction as well. When buyers step in and hold the 50-60% retracement (blue box) we may gain more directional clarity to develop a trading idea.
Bitcoin option sellers may consider widening strikes.
Correlations: US markets may follow European markets in digesting the results of Germany’s election. DAX slightly bearish in the morning after centre-left party SPD emerged winner. Fears of more regulation and bureaucratic micro-management in Europe’s largest economy persist.
28 SEP brings Sun in square to natal Mars and Mars in trine to natal North Node, two minor, slightly bearish aspects. No major constellations to influence BTC this week so that we rather focus on correlations with QQQ and DXY.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Become a patron for regular updates & trading ideas: www.constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
www.deribit.com/reg-14912.6680
Binance - 10% off trading fees with this link:
accounts.binanc....me/en/register?ref=LLBB97...
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.