BTC- WXYXZ Corrective Pattern Targets .5/.618 Ret of Bull Swing
This is a 30 mins chart
- The premise of this count is that 6k is the bottom and this is a corrective pattern of an impulse to the upside.
- If this premise is correct we can expect price continue to move to the upside after this retracement.
- The only way to know if this premise is wrong is when we break below the low of 6K
- The extension of the peaks we have so far in wave Z gives confluence with .5/.618 retracement of the whole bullish swing from the 6K range.
- A question to ask is what piece of the puzzle will form wave Z? Will we see an expanded flat? Another zig zag? A triangle even?
- This can be a buy zone to either go for long and a range to close your short positions
- The premise of this count is that 6k is the bottom and this is a corrective pattern of an impulse to the upside.
- If this premise is correct we can expect price continue to move to the upside after this retracement.
- The only way to know if this premise is wrong is when we break below the low of 6K
- The extension of the peaks we have so far in wave Z gives confluence with .5/.618 retracement of the whole bullish swing from the 6K range.
- A question to ask is what piece of the puzzle will form wave Z? Will we see an expanded flat? Another zig zag? A triangle even?
- This can be a buy zone to either go for long and a range to close your short positions
Comment:
On bitfinex: expected wall at 9.5k
I dont see how it holds
I dont see how it holds
Comment:
BOOM 3 seconds later, we broke the wall.
Down we go.
Down we go.
Comment:
I have been updating my opinions/positions quite consistently with constant updates.
If you find them helpful and would like to buy me & the cat dinner, please do @
- LTC: LM5CU6BwwykrxNrfCeqxrGDgKUg3PPXQEe
- BTC: 1GHgusV4WKwdF5gP8e6cJU2SuLqAwvTscd
- ETH: 0x446c9684a3749bbff80b1c43087f1531843a5d01
Cheers:)
If you find them helpful and would like to buy me & the cat dinner, please do @
- LTC: LM5CU6BwwykrxNrfCeqxrGDgKUg3PPXQEe
- BTC: 1GHgusV4WKwdF5gP8e6cJU2SuLqAwvTscd
- ETH: 0x446c9684a3749bbff80b1c43087f1531843a5d01
Cheers:)
Comment:
IMO we just finished wave 2 of C of Z $9684, I shorted more
Trade active:
Comment:
I got worried because we broke above the 15 mins RSI resistance and went beyond the pivot point I've identified.
Although my wave count is still valid as no rules are broken, it did give me a bit of shaky shaky.
As the volume was extremely low, I simply added more to increase my base price.
We will have problems if we break above $9803 level with conviction and form new higher high/higher low. In that case, I will consider closing my position with a loss at pullbacks.
Now, we are still looking decent.
I got worried because we broke above the 15 mins RSI resistance and went beyond the pivot point I've identified.
Although my wave count is still valid as no rules are broken, it did give me a bit of shaky shaky.
As the volume was extremely low, I simply added more to increase my base price.
We will have problems if we break above $9803 level with conviction and form new higher high/higher low. In that case, I will consider closing my position with a loss at pullbacks.
Now, we are still looking decent.
Comment:
check out my first video on trading view!
check out my first video on trading view!
Trade active:
Take some profit at each round number resistance level.
You can never go wrong when you reduce your risk :)
Enjoy the profits!
You can never go wrong when you reduce your risk :)
Enjoy the profits!
If the premise is wrong, we have are in wave Z in the bigger picture. We will have to wait for more data.