Again! Get In The Train. 19k Next Month

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Btc is taking resistance one after another like its climbing a ladder!!

1d close 12800 and 2d close 11800 was ugly because btc was expected to reach 12500 range but to shot straight to 13900 is a very good example of fomo after which we dump straight to 10300 with 1d,2d close 11100 which also show another example of fear
wicks always happen but not that way

As i explained before we started wave 3 from 8700 with strong hidden bullish div on 2d chart and once blue line resistance taken down btc did fly as well as i expected retrace and break on 12500 area and we got it so its time for consolidation for about a week ranging in this area
with d,2d close around 10600 to form wave 2 of general wave 3 till it break the next important blue resistance line and again it will fly
especially we already got 1hr bullish hidden div (see previous post below)


I will say only one wise advise for people who call me a star or i have catalyst ball or asking to teach them : price action or what i call the coin behavior in CRYPTO is whats most important not only indicators or studying but watching and observing from smallest time frame to the biggest frames for long period of time which is something i find hard to explain

I have used this title 10 jun and i was not wrong from 7800
Get in the train and ignore your fear, ATH in 1-2 month

This is not a financial advice.

Previous idea:

Jun 29
Jun 30
Trade active: 10800 reached and we got higher low, as we expected, btc gathering strength the next days. we got 1 hr hidden bull div supporting it see below
Jun 30
Comment: Finaly! We got the daily close 10750
Jun 30
Comment: Hidden bullish DIV spotted everywhere! ( click to read the details )
Jul 01
Comment: We got lower low, higher low invalidated that was ABC correction but we still bullish, we were waiting for 1d and 2d daily close between 10500 and 11500 we got 1d 10750 and 2d is very close and its very important to be above 10000 / 10500 area its also critical 10k level not breached with daily close

Low time frame indicator always trick traders that's why we are not doing day or short term trades and we focus on higher time frames and the trend, here is another look:
Jul 01
Trade active: 2d candle closed above 10500 level as we were expecting which is more confirmation for the reversal as we noticed 10k level breached for few seconds and stood strong!!
Jul 01
Comment: 9800 touched this is mostly BEAR TRAP. Wait for 1d candle close.
Jul 02
Comment: 4HR hidden bull DIV completed! Bear Trap triggered below 10k

We got daily close 10750 then 2d close 10500 showing btc strong above 10k level but after btc went below 10k level again we should wait for the next daily candle close but we are still bullish because indicators now went very low and gave chance to form 4hr hidden bull div we were waiting for the last couple of days which is now very clear on rsi and macd
Jul 02
Comment: What a bear trap!! We did call for it guys, Btc reach 9600 area but daily candle close is above 10800 again!
Since we hit 13900 in Jun 26 we expected to consolidate for about a week between 10500 and 11500 level with daily close above 10k level and we got that, during this week the lowest daily close was 10600.

And we said many times 10k level should not be broken with daily close and so far this stand strong beside 4HR hidden bull div completed we can officially say now consolidation has ended and BTC is ready to resume uptrend.
Jul 02
Trade active: This was a perfect matching for 2d close 10500 forming wave 2 in general wave 3 according to my waves in this post, now expect btc to take down the 2nd BLUE resistance line in next days and once it close 2d candle above 12k area, I am telling you guys BTC WILL FLY
Jul 04
Comment: Bullish Descending Broadening Wedge In play!
Jul 05
Comment: Inverse H&S inside the WEDGE which is more bullish pattern confirming breakout in the next 1-2 days
Jul 07
Comment: The wedge still in play and developing as expected although it took longer time but the wedge resistance has been confirmed with 4 times touch lower low. As well as 11/11400 area holding very nice.

I am expecting breakout to upside in anytime very soon. Watch out!
Jul 08
Trade active: Watch out! We got the WEDGE Breakout! (click to read details)
Jul 10
Comment: Bitcoin free fly incoming! (click to read details)
Jul 11
Trade active: As we said in last update, if the price go below 11500 with 4 hr candle close this will invalidate my view but We have got 4 hr candle close above 11600 twice and its very clear btc is reversing right now , We have got hidden bullish divergence on 4 hr which is very clear:
Jul 11
Trade active: Not only 4 hr bullish hidden divergence but also 1 hr classic bullish divergence as well as macd crossover, have a look:
Jul 11
Jul 12
Comment: 1hr classic bull div + 4hr hidden bull div ( CONFIRMED )
When i published this idea ( Bitcoin free fly incoming! ) before we drop from 13k level, I did explain its still incoming and retrace to 12k level is very possible and we did retraced below it as well as i said we should wait 2-3 sideway moves before shooting upside
So the idea still in process and so early to judge when dealing with 2d time frame even if we got closed below 11500 in lower timeframes but we did reverse very nice after we spotted divergences just in time before it complete and we did share with you!

I really wonder some people who asking for updates privately or in comments without even pressing like to the idea!!!
Another thing i would like to point out, look to the trend line:
Jul 13
Trade active: Bitcoin bull run fractals on daily - Targeting Golden Ratio! ( click to read details )
Jul 14
Comment: 1hr classic bull div + 4hr hidden bull div + 1d hidden bull div ( Completed )
Jul 14
Comment: Correction is almost over - no need to panic!
Although we got lower price but in my opinion it doesn't invalidate anything yet, divergences on lower time frames most of times are complex but its a clear sign that reversal is coming.
So if we look to the daily, we can adjust the trendline and today candle close will tell us if its still valid. The pattern will turn to be a large pennant more than a triangle and both of them most of times are bullish when formed in uptrend.

The fractals on daily rsi&macd are almost completed so yea today should be the day to make it or break it. daily close below 10300 going to be very bad.
Jul 15
Trade active: Reversal: Resistance Turned Support - ( click to read details )
Jul 16
Trade active: Trap: BTC below $10,000 for the last time! ( click to read details )
Jul 20
Comment: Anyone wondering what is the count for the previous bear market correction in my opinion:
Jul 22
Comment: Check last idea to read updates:
Jul 31
Trade active: BTC is out of RED zone .. $23,000 Could be a new ATH! -- (click to read details) follow idea to get updates.
Aug 06
Trade active: Will BTC take over this stubborn resistance this time! ( click to read details )
Aug 07
Trade active: BTC: 12H Ichimoku showing interesting bullish signs! ( click to read details )
Aug 08
Trade active: This could be the last idea to share with you guys!...... click to read
Aug 15
Trade active: BTC: Isn't The Trend is Your Friend, Until it Ends?!
Aug 16
Trade active: Daily BTC Chart: Still Show all this bullish signs..?! ( click to read )
Aug 21
Trade active: (CME vs Bakkt) .. Why they said, Buy the Rumor and Sell.... ?! (click to read)
Aug 29
Trade active: BTC: Panic Sell OR Buy ... Next? -- ( click to read )


so you discovered new theory of elliot wave.... meanwhile according to ralph nelson elliot wave 2 retraces from 50% - 61.8% of wave 1, with 80% probability and we've retraced only 38.2% of the whole wave from 3200 - 14000, so better you also learn some basics first
+1 Reply
Jocoin Husain_Zabir
@Husain_Zabir, Most important to learn how to be polite even if you disagree with the idea as well as english because i am not sure what did you mean exactly and which wave 2 you are talking about.
You mentioned, we've retraced only 38.2% of the whole wave from 3200 - 14000, What?!!

In a separate post i said clearly we will not find out the exact count till the waves are completed and we just try get the most possible count as waves develop according to coin behavior not just theories

Theories describe possibilities and probabilities not facts

By the way btc retraced 0.618 at 9600 forming wave 2 in 3 after wave 1 that started from 7500 to 13800

And if you referring to wave 2 that bottomed at 7500 then i am sure you missed reading this rules:

If wave 1 is extended, then wave 2 and 4 are very likely to be shallow (i.e. 23.6% – 38.2%)
If wave 1 is extended, then wave 2 will often end at the level of sub-wave 4 of 1 (i.e. the internal wave 4 of wave 1) which was 7500 in this case and if wave 2 was sideway shallow correction then expect wave 4 to be sharp and aggressive

Even whatever you meant by 38.2% it still valid, read this
Wave 2 generally retraces more than 30% of Wave 1 including internal data points.
Wave 2 will usually retraces less than 80% of Wave 1 .
The most likely retracement for Wave 2 is 50% or 61.8% of Wave 1.

Did you understand now what possibilities and probabilities means!!
+1 Reply
@Jocoin, first of all you should also look at the weekly chart y friend, youll get a broad view in higher degree, second thing is that extension of wave 1 has the lowest possibility coz than you'll get a normal wave 3 and a truncated wave 5 formation, which is even rare in lower degrees, now if you'll look here in weekly chart you'll get my point, what am taliking about. the whole 5 wave formation looks already completed and we've get an extended wave 3, now recent movement when prices drop to 9800 level notice that bulls secured the 38.2 level, this whole formation represents a complete wave 1 and now most likely we're entering in abc corrective wave or the larger wave 2 which could lead the prices upto fib618 around 7200

though am not saying am absolutely correct and things will go as am saying, but by looking at your charts it shows that youre making two extended waves in this whole formation, which does not usually happens
Jocoin Husain_Zabir
@Husain_Zabir, Everyone want the price to move as he wish, but what matters who was right and been success at the end!
Good idea!
+1 Reply
Jocoin Moiseiev_Yurii
@Moiseiev_Yurii, thank you. We will get this week more confirmation supporting this view here
This is what im looking at
not gonna happen 19k next month sorry bro
Jocoin tearliner
@tearliner, Why do you think so! do you have reasons? please share if you got any. Next days will tell us!
@Jocoin, every single bull market of bitcoin it has checked the weekly 21 EMA bottom. We haven't been there yet! and seems like bitcoin parabola is broken.
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