BTC-USD So far- so low -so what

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The long setup we played ended with winning trades for the 2 applied Stop-Loss trailing methods, we caught a nice break-out setup. (see link below)
As the bigger red ii-iv-line broke and a 5th wave is not viable with counting the iii as i due to the occuring i-iv overlap we had to change the Count a little bit and come up with something different:
One pattern is known and allowed to build new lows with a ii-iv-line break, the equivalent of an impulse C...we are talking EDT (blue labelled scenario), like shown in the screenshot chart of the 2 h bigger chart linked below.

This EDT is allowed, though called for very early in the sceanrio besides the now also labelled (a)(b)(c) of C and the breaking of the "make or break 0-b/ii-iv line having given us a new (b) wave top...

The Bulls eye view counts has seen the low and is building up momentum in a i-ii-i-ii scenario like labelled here in purple.

We saw an intime down here for us to collect more hints for the future development....buying into BTC for these prices to hodl is allowed and could be advised by Crypto-Men anyway...

Well then, while writing this ...the intime is achieved...so at least the trend down is reestablished by this and we have seen a round top turnover after almost immediately after taking out the make-or-break-line...

This intime takes the purple Bull-Scenario almost completely off the table ....the (a)(b)(c) of C scenario labelled black becomes more probable, ..the EDT as the equivalent to a 5 wave impulse wave is also still in play( blue labelling)...

I do not like to give into the consideration due to the different market-maker-X-Change prices, and their results in the charts,to handle the rule of i-iv overlap less strictly.

Facit: intime down makes the direct bull option i-ii-i-ii become less probable ...lets look for getting into short here...
Comment: 30 min chart to bind in & make visble the EDT and (a)(b)(c) of C scenario becoming the more probable ones by the spotted intime down...
Comment: hardcore vibes working chart...

Comment: needs a little upmove here on the dark red old downtrendline to fulfill the blue EDT-Count-schedule I gave him ;-)
The little upmove it gots for c of 3EDT down.
@cryptoprom, yes, chart is a little distorted here...i did the big pic a little less steep, so one can see it would still fit, but as you mentioned , the b of must be in now and the c of 3 EDT is needed now to keep the count pic viable...
cryptoprom buergernamebenutzenistillegal
@buergernamebenutzenistillegal, many probable options: my primary for now
@cryptoprom, yes, Nice one there, the i-iv overlap (as parts of the ii are also not aloud to overlap) would only then be alright for me, if thereafter an EDT is forming the way it does here in your chart...
sorry, maybe a stupid question, but does that mean, if we dont break the 11k in the next few hours, you expect BTC to go down to 6k (or less)?

the blue scenario would fit the future-expire better, so maybe the next big dip is expected on friday ?
@creck, I favour the EDT scenario by now...but the Crypto-Bull in me was silenced a bit with the intime down ...so I summed up the remaining options,taking EW-Rules like i-iv-overlaps strictly:...the black scenario is the scenario with an active impulse wave (c) active which will make 6 k possible but not necessary as the 3 parted wave labelled (a) does not have to be breached in its full length by the (c)...the (c) wave could as well end in the 8k region...making somewhat about 62% of the (a) extension...the yellow scenario does not need 6 k either...we have to watch the price action forming at the demand zones waiting below...
+1 Reply
@creck, typing error: reached and not breached...
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out