We are still following my top trending post from yesterday - I will hopefully now proof to you, that we with our Elliott Waves can continue my forecast.
We will fall down now and hit my blue box - hereafter we will go up below 5,000 USD again for hereafter and say hello to 3,XXX again, which will be the last 11 structure wave correction.
Hopefully we can hereafter start a new uptrend. Let's see!
D4 Love You <3
PS. Please leave a LIKE if you appreciate the content.
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If we are a bit greedy we might go with the 5th Ending Diagonal, which is ALWAYS is a 3-3-3-3-3 structure. That would mean we should see a huge drop very soon!
And you can go for bigger target or at least ladder them down.
Remember Leading Diagonals,which usually happens on 1st and A waves can be 33333 or 53535, where 5th waves and C waves ending diagonals always are 33333 structures
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If we take a look at the 4h - not really any bullish momentum at all. Everything points in the direction that we will go lower and make my 5th Wave Ending Diagonal in one move.
We also have a Head and Shoulder formation which point in this direction - more of a continuation pattern. Normally they are more valid in reversals.
I cannot see us go up - if whales see opportunity to kill some short then be it.
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To be fair - the bears don't have so much greed anymore either (they don't like the 3,7xx USD level. I have removed the waves.
Bears need to go lower - as we now - the more often we test a specific price point the more likely it is to eventually break.
So even though the bears are a bit hesitant, they are still favorites.
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Is it finally now or do we have to wait a bit longer? Bulls trying deperately to hold the 3.700 USD level, but for how long will they succeed?
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Must give bulls kind of credit - we should have been going down long time ago, bu they managed to keep that 3,700-level pretty good. With HS formation and bear flags - it might (I dont think so) but can sometimes mean a bear trap and it could push the price a bit higher.
But as long as we stay inside this descending triangle - the bears are still favorites.
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Boom - exactly what I was warning about - that bear trap with 150 dollars jump in no time. Thats how you liquidate shorts in this bear market.
When that is said, it does't mean, we will go up now. Over all still bearish chart.
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Here to illustrate why we will not fall so deep if/when we fall. As you can see on my chart we had no what so ever prior bullish momentum when we dropped hard. People were panicking.
On the other hand you can see, that when the bulls tried to push the price higher, but wasnt able to follow up on this, they hereafter didn't dropped as hard.
It's the same situation we are in right now. Bulls didnt manage to follow up from their relative big head - we are going sideways. 2 things can therefore happen.
1. Which is the most likely, and the scenario I have had for many days now, that we will go down to my box to continue up at my B-wave.
2. This could work as a bear trap. And we could have in fact ended our 5th truncated wave, and if the whales can bait a massive shorts at one point they might just pump the price to liquidate shorts.
Let's see if somethings gonna happen today or it will be sideways for now. Remember to leave a LIKE if you appreciate the content. THX :)
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Quite boring day. Going sideways and sideways. But soon will we see some firework - we are caught inside the bearish descending triangle. The bulls need to so something fast, or they will eventually fall through.
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New Chart - New video: Most IMPORTANT VIDEO on BITCOIN Right Now - See WHY!
Your WXYXZ is a double bottom conclusion because you believe the 200 SMA support and 88.6 retracement will hold?
Your time frame is too optimistic, for crypto to go bull again, the total number of bitcoin wallet need to grow to a size at least triple that of now. Can't see that happening anytime soon, definitely not next year. So even if the bottom is reached, the market will go sideways for a while.
lamboluvr
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@Cryptodesperate, I agree with you his BULL time frame makes no sense. He's expecting out of nowhere just because BTC is at low lows, that all of a sudden the markets will go long with no news supporting it. Since Bakkt's delay from December, to January, I think the markets MAY continue to decline until January 2019.
lamboluvr
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D4rkEnergy, why do you think the crypto market will just jump out of nowhere and go bull at approximately 3200 BTC with no news driving it? We've seen countless number of times where strong support were broken with ease like they didn't exist in the first place in crypto. There is no "bottom", one can't call a bottom until it happens and whose to say 3k is our bottom? It can be 1k for all we know.
Omhhh
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@lamboluvr, I am worried too- for that reason i closed the majority of my shorts- Better to win something than nothing at all.
UnknownUnicorn2774089
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Yet another D4 gets it wrong, follow this and get burned
Ecua_Trader
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I like countertrading the best lol best signals ever. If I put you and @alanmasters in a chart, I have 99% chance of gains lol.