As you can see, from my main idea we are still in a correction phase. Having possibly finished leg B of this correction, we should be heading for $8500-$8600 with possible wicks to the $8280 region.
I was hoping that we would go up to the .786 fib level, but currently do not see that with multiple bearish divergences showing at the time of writing this.
Once we hit these short term goals, a nice rally to 10.3k will in the books hopefully.
Trade active
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The perfect short! Currently bouncing off the 9150-9250 support, still reckoning we will break through this support and find a base around 8550.
Trade active
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Just made touch down at $8900, short trade doing marvels so far. Looking for a little bounce here to maybe $9100 then hopefully for downside.
Just made touch down at $8900, short trade doing marvels so far. Looking for a little bounce here to maybe $9100 then hopefully for downside.
Great job for those who followed this trade!
VladMuresan
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only made the good sell , instead of the great one :(
vivekrpec
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that was aa golden one, ruler. keep it coming. took profits at 9250, will short the boune again
vivekrpec
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the current uptrend from 6650 is at 9150. do you think breaking that would break the bullish momentum to 10k?
TheCryptoRuler
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@vivekrpec, Sorry for the late reply. No I don't think so. There's still a lot of bullish sentiment, we would have to break some of the lower supports below 8200 for it to start looking bad.
@TheCryptoRuler, Awesome, thank you! I see way too many ideas that look like palm readings w/o any factual basis.
TheCryptoRuler
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@crypto_kiddie, I know what you mean! haha A lot of my analysis is based off of Elliott wave counts, fibonacci, and ~5 different indicators. Didn't want to add it to this chart as it would be very cluttered
crypto_kiddie
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@TheCryptoRuler, Well thank you for replying. Looks like you nailed it w/the "great sell" zone. Appreciate the idea!
Great job for those who followed this trade!