Ok, so after request of you guys, i am posting detailed analysis of BTC .
I am starting from weekly and will break down to 4 hours chart so do not forget to check updates.
As we can see after all time high, we are going in ABC correction. (Pink full circle)
We have completed A wave of ABC and heading towards completing B wave.
B wave it self is abc (small pink , waves are visible) correction aka bull trap.
We have almost completed a of this abc. A doji candle is building which means next week may be bearish.
Rest in update with daily chart. Stay tuned!
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Above on daily chart you can see a of abc correction which is 5 wave upside with green waves.
a of abc looks completed unless 5th wave extend which happens during FOMO but i do not see any FOMO.
If above is true , we are in b wave of abc which it self is ABC correction and we are in A wave,
A wave normaly being sharp and 4th wave of wave a (check green 1-5 waves ) retraced to 8600 so chances are it may goto 8800-8600 again.
Rest in next update.
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Above on 4 hour chart you can see channel support and price support in teal color are around 8370 so it may have little bit bounce from here before going down again.
After that it may have some sideways at 8900-9000.
After that a final dip may go upto 600 before rebounding aka another bull. I will post target of wave B of ornage ABC later.
Till then happy trading.
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8600 is where the 0.382 retrace of wave a (green 1-5 up) reach.
If you have any question, just ask.
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See that bounce from around 9400, still going good as per above analysis. Remember for big scene 40-50 points does not matter they fall under ladder.
Follow, like , share , comment for future updates.
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BTC still following that orange ABC . Nothing change. I may think to go long again if this breaks yellow line with good volume . Check chart below:
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If it turns to upside from here, this means it is super bullish as it is 0.0236 fib level.
Follow and line to get future updates.
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Still going as per plan. An H & S guys. Think if this playout .check chart below
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Target of Head and Shoulder updated. Follow and share for future updates:
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If H&S in above chart fails and falling wedge ( below chart) playout then we can buy on breakout and sell again at 9450 max .
Trade closed: target reached
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BTC broken out the falling wedge and here is update:
Nice view. It's good to know all the possibilities. On the grand scale, one alternative though is last year we had 5 impulses up, so its possible we had a running flat correction from 20k, 6k, 11.7k, 6.5k (ABC). There is some sense to follow a grand impulse wave with a grand ABC correction, and a running flat would be a bullish sign in the grand scheme. If that is the case ... IF ... then the rise from 6.5k could be an impulse up, and we completed wave 1 to 9.99k. This would mean we are in wave 2. We dropped 1000 points so far, and I would expect at least a 2000 point drop just based on the magnitude of previous correction waves (see 2017 Q3/Q4 correction waves down on the daily chart) ... so I'd be surprised if it stops here. It does make sense if this wave 2 is made up of an ABC correction on the hourly scale, which means A wave is from 9.99k to 8.98k, and now we are in wave B up to (9400/9500)?? This would point to another potential +1000 point drop from where wave B ends taking us to ??? (8000 - 8500??).
The key is in interpreting what the wave count really is from the 20k high to the 6.5k low. You have shown a worthy possibility ... and we should remain open, as there are many ways to interpret this potential outcome!
Thank you for this good TA!
MarcusNeufeldt
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Looking good mate, keep it up
Arpi2018
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@MarcusNeufeldt, Thanks, follow me to receive future updates here and via email both.
vibaca1888
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Thank for your hard work! Hope you will update this frequently.
Arpi2018
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@duynamhg, Sure, share this chart with your friends too , that will encourage me to post this more frequently and post other coin ideas as well.
Arpi2018
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If H&S in above chart fails and falling wedge ( below chart) playout then we can buy on breakout and sell again at 9450 max .
sumastardon
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Good stuff! Fancy seeing you here !
Arpi2018
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@sumastardon, Thanks for feedback. Will post more soon.