INDEX:BTCUSD   Bitcoin / U.S. Dollar
“Now remember, I do my best work when I’m being worshiped as a god.” — Johnny Bravo.

Bitcoin king of crypto - doing it's best work, like the one man army it is!

Although it's as clear as day, crypto is here to stay - we have to be willing to see some wood through the trees. Every now and again, we need a pullback. I have written several articles around the "buying the dip" logic for a pullback, why people get into crypto and of course - a ton of educational content here around Elliott and Wyckoff. See related ideas below;

“So enough about me, let’s talk more about me.” — Johnny Bravo

You have to see the logic here and understand - that the market is taking a well earned rest, it will continue. However, you also need to appreciate the Composite man concept, is going to make life difficult for retail traders.

"Wanna see me comb my hair, really fast?” — Johnny Bravo


When working with Elliott waves - it's an obvious move here, confirmed with tools such as Weis wave to give clarity of times on such moves. Take a look at this in the image above. It's there and obvious.

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When the drop came - people where shocked, it really can't just go up forever and a day.

If you go back and analyse the Wyckoff structure - you will notice the Buyers climax linked to the sharp drop off in the Blockfi positions.

“Hey, Baby! Anybody ever tell you I have beautiful eyes?” — Johnny Bravo

You need to look at the bigger picture, the much bigger picture.

To the moon!!!

I wasn't actually meaning just the moon calls - I was meaning, the psychology for the drop, the reload and the go again scenario.

So although your all here waiting for Lambo's...
You will see that composite man want's nothing more than to take your money, he knows how to play the game and is busy playing it.

You might feel bored at the moment, jumping on every little move!

“I may be late honey, but I’m looking good.” — Johnny Bravo

So take a step back, wait for the market to give the confirmation.

“This won’t end well.” — Johnny Bravo - not for many retail traders, that is for sure!

So have a great weekend! Trade safe!!!

“Thank you, thank you very much.” — Johnny Bravo


Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
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Comments

I appreciate you humility and kindness, Sir. Much respect!
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none of us has traded longer than you Sir, and I appreciate what you do to help us learn from your experience. Much love and respect!
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Thank you sir!
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entertaining and educational, thank you very much.
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@BrianM20, I am glad you liked it!
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BrianM20 Mayfair_Ventures
@Mayfair_Ventures, I appreciate your humility despite of having decade of expertise under your belt.
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BrianM20 Mayfair_Ventures
@Mayfair_Ventures, I'd like you address one thing though. If 2nd wave was almost a year long , 250 days, should not 4th way be short? In my understanding they alternate just as with 1st and 5th way. I appreciate if you address that with your meticulous attention to details.
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@BrianM20, Hi there! I have the count weekly as roughly 6 months both 0-1 and 1-2 meaning both pretty rapid compared to the 12 months of 2-3. So logically it would suggest, potential for a longer 3-4 overall. This would make sense from composite man's perspective for sure! I have been trying to figure out why it would drop n go quickly (under 3 months) and apart from making a ton of retail traders wealthy, keeping Saylor happy. I cannot find the logic. So it all fits with a long, drawn out, ugly 3-4 weekly move (or at least current situation would suggest that).
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BrianM20 Mayfair_Ventures
@Mayfair_Ventures, Yes, and I've made notes of what you've mentioned in your streams ;that's pretty much what you said here, and thank you for that. So you basically do not count the alternate rule in EW. Secondly, in your last stream you mentioned we're not 3 months in it yet. Since mid April we're in 107th day over 3 months, and I would appreciate addressing that also. and lastly, do you think additional month or 2 would be enough to get out of the bottom low and on our way out of this? so by October we're on our way? I know you think longer than October
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@BrianM20, NP - I don't stress too much about the numbers or dates, the idea was to just highlight, if it's a few days off - not going to stress. The idea is simply to show 6-8 months, 10-15 months etc. So a 2-4 month is not overly long. When I look for 4's I simply look for the 'ultimate' basic logic. ;-) The issue is if we round up or down 6, 6 and 12 months - even fast it would be 4-8 months. So nothing stopping an October exit, but logic for longer also exists.
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