DeepandMoon
Long

A big blow may come. This is a warning.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
range of 6800-6900 $ is the critical point. I think the bears are playing games nowadays. There is a bearish divergence as you can see in the graph. To be sure We have to think that BTC will not go over the price line number 1 . If it rises above the price line number 1, the target is number 3, which is the range of 7900-8000 dollars. If we stay under line 1, target number 2.

Trade active:
Graphic estimation for a short time. The chart will be updated.
Comment:
Comment: May 6 shared

Comment: first target reached

Comments

This is a detail for Bitcoin and it is not wrong any thing from 10 days ago:
Reply
Bro, this is definitely Not a bearish divergence on neither RSI nor Stoch RSI.

PK
Reply
dab1rd PainKillers756
@PainKillers756, lol this guy doesn't know how to read RSI. Yet his trade is going to be profitable when this drops. I have my reason that there is going to be a small correction because there is bearish divergence on smaller timeframes.
Reply
@dab1rd, but lower time frames the more fakeouts, Whales have been producing mixed noises since last week. To focus on 4H/1D time frames only, might help make better trading decisions. ; )
Reply
dab1rd PainKillers756
@PainKillers756, Imo it's unlikely that we break 6850 now. We need a healthy correction to only 6400-6300 would be good enough.
Yes 1D and 4H showed very bullish signs near the bottom. One of the reasons I went long on neo at 29 dollars and added to my shitcoin list for long term hold. But short term, a drop is due.
Reply
@dab1rd, let's see. bulls still have the momentum, or else Whales have not hit their target yet. Personally, I believe the price might hit 7200$ around with consistently volume contraction, when we have obvious divergence on 4H/1D with HH, it is a good timing to short with high leverage. ; )
Reply
dab1rd dab1rd
@dab1rd, ow messed up the link

Reply
@dab1rd, nice chart, thanks for sharing! imo pertaining to 4H RSI divergence we are having the moderate correction for now which generally means we will be having higher high soon. Moreover, I don't subscribe to the idea that wave counts rule the world ; ), but technically, wave 2 seems to have too much retracement from wave 1, doesn't it? wave 3 is supposed to have the highest gradient? H&S pattern is good, let's see how it plays out.
Reply
dab1rd PainKillers756
@PainKillers756, 2 can go as low as it wants, as long as it stays above the low of 1. However on some exchanges this 2 would retrace under wave 1 start area. Which is not possible, and you usually would have to recount.
Wave 3 is usually the longest and never the shortest.

I'm not a TA expert so take my count with a grain of salt. EW is just an extra tool for the toolbox.
But seriously, elliot wave is sometimes scary accurate at times.

Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out