BTC! Subwave 3 is done, todays bottom is in! Subwave 4 going up!
Hi guys,
Quick update.
I believe subwave 3 has completed at 7865 on my chart, on a lower candle wick!
Check out my previous ideas, where I posted my target of 7850 (in the follow up comment section).
We freeking nailed it! My wave analysis has been ON POINT! Lets keep this going!
Side note: I'm not claming to be perfect, and I will always own up to a failed analysis. Just because we've been hitting the last few targets, doesn't mean we'll hit the next one. There's always suprises and u-turns that cause a failed analysis. But we learn and move on. So please be careful with your trades and never blindly follow an internet analyst. You must take ideas from others and do your own analysis, and come to decisions that you are comfortable with. If you blindly trade based on someone else's advice, don't blame them for a failed trade. Man up, take ownership for your decision ... and commit to keep learning and educating yourself, so you are less reliant on the opinions of strangers on the internet. This is just my preemptive strike against trolls that will come out of the woodwork on my next failed call :)
Here's the explanation on my Sub wave 4 analysis:
- Subwave 2 and Subwave 4 often counterbalance each other on the amount they retrace.
- Subwave 2 had a smaller retracement after subwave 1... it only went up to the 0.382 level.
- Therefore I expect Subwave 4 to have a bigger retracement that subwave 2's 0.382.
- I'm gonna target the 0.618 retracement, up to the 0.65 level.... this tight band is known as the "golden pocket". Alot of trading bots and stop orders are set at the 0.618.... the 0.65 level takes care of the peaks and fake outs.
Lets watch how this plays out, and I'll start analysing the 3 ABC subwaves of subwave 4 as they form!
Good luck Trading!
LLCoolRS
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
Quick update.
I believe subwave 3 has completed at 7865 on my chart, on a lower candle wick!
Check out my previous ideas, where I posted my target of 7850 (in the follow up comment section).
We freeking nailed it! My wave analysis has been ON POINT! Lets keep this going!
Side note: I'm not claming to be perfect, and I will always own up to a failed analysis. Just because we've been hitting the last few targets, doesn't mean we'll hit the next one. There's always suprises and u-turns that cause a failed analysis. But we learn and move on. So please be careful with your trades and never blindly follow an internet analyst. You must take ideas from others and do your own analysis, and come to decisions that you are comfortable with. If you blindly trade based on someone else's advice, don't blame them for a failed trade. Man up, take ownership for your decision ... and commit to keep learning and educating yourself, so you are less reliant on the opinions of strangers on the internet. This is just my preemptive strike against trolls that will come out of the woodwork on my next failed call :)
Here's the explanation on my Sub wave 4 analysis:
- Subwave 2 and Subwave 4 often counterbalance each other on the amount they retrace.
- Subwave 2 had a smaller retracement after subwave 1... it only went up to the 0.382 level.
- Therefore I expect Subwave 4 to have a bigger retracement that subwave 2's 0.382.
- I'm gonna target the 0.618 retracement, up to the 0.65 level.... this tight band is known as the "golden pocket". Alot of trading bots and stop orders are set at the 0.618.... the 0.65 level takes care of the peaks and fake outs.
Lets watch how this plays out, and I'll start analysing the 3 ABC subwaves of subwave 4 as they form!
Good luck Trading!
LLCoolRS
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
Comment:
So to clarify, If I were in a theoretical long position, I would set my stop loss just below 7850. That has now been established as support, so if it goes lower, you must cut your loss and accept defeat. Asset Management is the MOST important aspect of trading crypto. You will never be always right on your trading decisions. You must accept the risk of losing whenever you establish a position.... and gladly accept a small loss, insteading of HODLING and losing half your portfolio.
Comment:
THERE IT IS BOYS!
The big green dildo pointing to the sky.
Watching it go sideways, it sure looked like a bear flag, ready to pop down again. But I trusted my wave count....I knew we had 5 waves down and there should not have been another big wave down. Add that to the candlestick analysis, with the big rejection wicks on the bottom.... and we have the start of subwave 4 going up.
LETS KEEP THIS THING ROLLING!
The big green dildo pointing to the sky.
Watching it go sideways, it sure looked like a bear flag, ready to pop down again. But I trusted my wave count....I knew we had 5 waves down and there should not have been another big wave down. Add that to the candlestick analysis, with the big rejection wicks on the bottom.... and we have the start of subwave 4 going up.
LETS KEEP THIS THING ROLLING!
Comment:
Whoops, I drew the FIB tracement wrong for my subwave 4!
Check out the correction in my new idea posted.
Check out the correction in my new idea posted.
Lots of sideways action.... doesn't want to pop upwards for subwave 4 yet.
Check out the 5 minute chart:
- See the 3 times it has gone down to 7850, there are really long wicks on the candle? That is a REJECTION to the downside.... any time the bears try to push it lower, the bulls immediately force it back up. Long wicks on candles tell an important story on the bull/bear battle, and when reversals happen. So I'm sticking to my idea that subwave 4 will begin.
Watch out for a drop below 7850 with volume though.... that would threaten my analysis.