monetae_anon

12/08 Bitcoin's Intra-day Plan

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Just a quick update for you all, on a LTF as we see the formation of a larger ascending triangle , as highlighted in my previous post.

I see a historic fractal on the daily in which the following day will have a tightened range as volatility is reduced. Volume has taken a sharp decline as traders await the next direction. Naturally in the market today, we will see an expansion in price as spot purchasing drives up price. It is then towards the top of the range we must assess at which force the bears step up.



Therefore a relief move in a 5, 7 count, taking us up to potentially $11.9k, here I will flip short.

FAQ:

1) T1 & T2 provide targets of the 5th and 7th wave count (if we get an extension).

2) Range high un-tapped liquidtity: Set stink asks here incise of any deviation of the range in which you can pickup positions at a discount to true price.


Much Love,
Anon.
Comment: This was very much rough around the edges as I wanted to get something out into the daily close last minute, due to the bullish engulfing candle. If I'm honest I think the move up can be higher and quicker.
Comment: To be honest, I am expecting a harder, higher relief, with a slight pull-back the following day.


Comment: Sometimes, simpler TA is better:-

2 waves accurately predicted so far. 👌

Comments

Impressive Anon, nailing the trend with accuracy ! clap clap ! thanks for sharing!
+2 Reply
What do you think about the potential rising wedge thats forming on the daily? It can be drawn from the covid crash, even if you cut out the anomaly (the bottom of the crash). Legit question, not being facetious lol. I'm here to learn and I cant decide where I want to go from here. If it does play out, it will have a pretty decent down side.
+1 Reply
Cheers Anon!
Reply
sounds great, picked up a long entry at 11600. low leverage. but wasnt exspecting to see 11100. same as for ethereum.
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