Hi guys,
As a fan of Eliott Waves, I am always looking forward to increase my knowledge and learn from everyone in this game 📉 so if you have any idea of opposite or positive please let me know.
📌 As it's clear in the E-Wave theory each impulsive wave has 5 waves (1-3-5). I am going to talk about the 5th wave in this idea;
the 5th wave is a slow and consistent wave in which the market is trapping those who could not get in the train of the Bull-run, so this means we have to be very careful to avoid possible traps ☠️
📌 we all can agree on the fact that Bitcoin has already completed a 5th cycle (doesn't mean that its bull-run is over) and the real deal is to be able to take profit in the corrective wave which comes right after a 5th cycle.
✍🏼 as you can see in my chart after the 5th wave and in the beginning of the correction, we have a possible A wave,which can already be finished or it may also have another C wave coming through.
🧐 So what does that all mean? It is a very simple question that we should ask ourselves; are we in a possible B wave or the new cycle of another 5 impulsive waves?
✍🏼 The answer is simply WE DONT KNOW we are not fortune tellers guys :D we are just traders; we should make decision based on logic and symptoms we clearly see or can understand from the charts.
⚠️ We can easily agree that the famous BULL-RUN is not over Blah blah... we are talking about short-terms. Short terms in trading means from 1-3 months at least.
📍 There is a logic and/or theory in E-Wave and psychology of the market: After finishing a 5th wave the market may get in the position as we have now in Bitcoin. The price has a rest and kills time, then it creates some bullish signs and symptoms, it get into a bear-flag but it could not reach or break the previous resistance, then it will again fall down into another bear flag (the thing that exactly we have here);
⚠️ then it may test the previous resistance level in which we have two possibilities:
1- The price breaks and stabilize above it and it begins its cycle
2- The price fails again and we get into another bearish cycle.
As a fan of Eliott Waves, I am always looking forward to increase my knowledge and learn from everyone in this game 📉 so if you have any idea of opposite or positive please let me know.
📌 As it's clear in the E-Wave theory each impulsive wave has 5 waves (1-3-5). I am going to talk about the 5th wave in this idea;
the 5th wave is a slow and consistent wave in which the market is trapping those who could not get in the train of the Bull-run, so this means we have to be very careful to avoid possible traps ☠️
📌 we all can agree on the fact that Bitcoin has already completed a 5th cycle (doesn't mean that its bull-run is over) and the real deal is to be able to take profit in the corrective wave which comes right after a 5th cycle.
✍🏼 as you can see in my chart after the 5th wave and in the beginning of the correction, we have a possible A wave,which can already be finished or it may also have another C wave coming through.
🧐 So what does that all mean? It is a very simple question that we should ask ourselves; are we in a possible B wave or the new cycle of another 5 impulsive waves?
✍🏼 The answer is simply WE DONT KNOW we are not fortune tellers guys :D we are just traders; we should make decision based on logic and symptoms we clearly see or can understand from the charts.
⚠️ We can easily agree that the famous BULL-RUN is not over Blah blah... we are talking about short-terms. Short terms in trading means from 1-3 months at least.
📍 There is a logic and/or theory in E-Wave and psychology of the market: After finishing a 5th wave the market may get in the position as we have now in Bitcoin. The price has a rest and kills time, then it creates some bullish signs and symptoms, it get into a bear-flag but it could not reach or break the previous resistance, then it will again fall down into another bear flag (the thing that exactly we have here);
⚠️ then it may test the previous resistance level in which we have two possibilities:
1- The price breaks and stabilize above it and it begins its cycle
2- The price fails again and we get into another bearish cycle.
Comment:
This may be some extra confirmation for end of cycle that now we are in it.
This may be some extra confirmation for end of cycle that now we are in it.
Comment:
⚠️ BE AWARE OF POSSIBLE BULL-TRAPS
⚠️ BE AWARE OF POSSIBLE BULL-TRAPS
Trade closed: target reached
As I have explained above, we have another 3 wave coming.
We do not know if it may helps the Bitcoin price or just act as before. If it continues to break and stabilizes above the death resistance zone, we may claim that the correction is over if not the bears 🐻 might attack us in short-terms