BTC - The Line in the Sand

My feeling is we are at the end of the "complacency" stage of the market and beginning to enter "anxiety".

https://www.cheatsheet.com/wp-content/uploads/2010/06/Emocional-cycle-2-Web-Small-Sourced.jpg

Watching this black trendline closely. A break of 12,200 or so confirms a bearish scenario. A break above 15.5k with strength would be very bullish.

Trade carefully and watch for Bull Traps!

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Line has been broken, original analysis stands

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Correction still in play and following Elliot Wave rules for C

I think we're going below 10k by Monday

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Going to play the bounce from C to D. Should bounce from C in a few hours

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Updated Count, wouldn't buy in yet

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Updated Count, last night's count was incorrect. I still feel we'll go lower for one more day. Happy New Year and much profits for 2018 for you all!

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Happy New Year to all! I still think BTC will decline as it has not gained any strength other than some short lived pumps. I will update as I see the patterns take shape.

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We're still consolidating, but it's looking more like a descending triangle as time goes on (bearish). We need to break the trendlines for confirmation of uptrend, otherwise the upward surges are all bull traps. Waiting for confirmation before buying.

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Entered a small position on the breakout, but have my stops are set for small profit if we sell off here. I still feel the market is undecided. This inner triangle has not yet broken.

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One more lower low to 9000 area and then we either bounce hard and continue up or we start another set of waves down. I'm laddering in slowly after 9500 is reached.

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playing these oversold bounces well. We should have a decent rebound tonight and continued panic selling tomorrow. As always, buy the panic!