H4 We have bearish divergence and a TL break. There's no confirmation wave C up is over at this stage so wait for a sell setup on the lower timeframes.
H1 We have bearish divergence, look for your sell setups 1st targeting the H4 low.
If you would like to checkout my BTC weekly outlook you can go to my twitter and find the YouTube link and EWPRO channel.
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Keep an eye out for updates, good luck and trade safe!
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Comment
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Ok so the invalidation point has been hit, I will have to take another look at the structure and then i'll put out a new idea
My buy order for BTC is at $1750, do you think it is too low?
Boon2
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@neversome, No one knows exactly where price will go therefore using a number on the chart is a very risky way to enter the market. I use pure price action for my trading systems. Hope this helped and answered your question.
@neversome, Your welcome, I'll add that trying to pick tops, bottoms and it will only end up with one thing, a margin call. Not using any leverage at all, willing to wait for possibly weeks or years for price to go your way you may find some success picking tops, bottoms but your return on capital will be very low . Sometimes you may get lucky and price goes your way in a day or so but this is defiantly not the norm.
Boon2
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@neversome, This is a possible bear flag forming but if you get a bull flag something like this around the level you mentioned you may find it worth while giving the buy a go.
Boon2
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And here's my W1 analysis.
Boon2
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Checkout my D1 idea.
UnknownUnicorn5725708
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I used to think if Hong Kong dumps, the price will go to 4,000 then 3,000.... now I think when Hong Kong dumps, the price of BTC could wick to the 1000s for sure.
Boon2
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@unapologetic01, O ok yep. Yes to tell you the truth I don't follow the fundamentals of crypto at all, this analysis is pure technical analysis.
By all means if you have any more fundamentals please share.