In few weeks, there is no such big fuds incoming. So before the fresh new bull trend, one last fall incoming according to elliot waves theory in bigger picture. I drew few strong trend lines that was going efficiently since july of 2017 and january of 2018. Plus 1 pitchfork tool. Target 1: 7500 Target 2: 6200 Target 3: 5400 It can take around 5-14 days. Stop lose at 9900 Because its break of huge trend line from january of 2018. I will buy laddered stage. 7500 -> 30%, 6200 ->30% 5400 ->40% GL
Comment
⋅
When shorting BTC, be careful. Always remember that crypto market can recover faster than you think,
The problem with your 5th Elliott wve is that it will have 5 subwaves. Currently, we can clearly see subwave 1 and subwave 3...and now corrective subwave 4 is substatially past the lowest point of wave 1. Your Elliot wave count is invalidated.
djolebg
⋅
elliot waves are always funny to me... how the hell do u know where to draw your points.. or u just make it up? what is correlation between 1-5 points??
I found support/resistance lines much more reliable tools
monhoo
⋅
@djolebg, maybe u realize how strong this tool is, when it come near those prices. i didnt just write lines. i drew 5th EW on green tip of the pitchfork tool while adjusting it's slope by spectating frequency of previous wave's slopes.
Anyways, it's market. shit happens