Bitcoin LONG / 3-3-5 Flat Correction - HOLD IT

BITMEX:XBT   Bitcoin / US Dollar Index
I'm long again. After reviewing the post of some of my supporters, other opinions I value, and stepping back and looking again at my count I believe the bottom of 2 is still valid even though it slightly extended past the 78.6 Fib. If this level gets broken I'm out again to reevaluate the situation.

P.S. If we just double bottom I'm adding to my long position. Would you believe me if I said we might hit $10K tonight? We could.....

Since price did not break the previous low I am counting it as the bottom of wave 2. The next Wave 3 will be the tell. If Wave 3 consists of 5 sub-waves that measure impulsive instead of corrective then what we have seen is most likely a 3-3-5 Flat correction and BTC will start moving up from here. If, however, the Fibs of the Wave 3 sub-waves measure correctively then further downside would be expected. Instead of being a 12345 move North it could turn into more of an ABC correction and start moving down again. Like I said, the tell will be in how the next sub-waves play out. I'm still long unless this next move turns out to be corrective. If so, I'll bail and look for a better entry at lower prices.

P.S. If you are not familiar with the term 3-3-5 Flat Correction do a Goggle search and look at some of the examples. You will quickly see this is a good match for what is currently going on. The only question is whether it continues to play out like this morphs into something else.

Good luck and have a nice day!

*** There is no certainty. Just like our life.
Who guarantees I'll be alive in a moment?

These are expectations, probabilities.

God be with us today and always

Hit the Play button. Looking good so far......
Getting closer..... Is this the next leg up?

Anybody still calling for sub $6K Bitcoin must be smoking crack or something. That's the only logical explanation and it should be illegal.

I'm not going to post all the crap I am looking at because it is even confusing me so I would not want to drop all that on you.

What I will say is this last move is looking very impulsive NOT corrective.

What does that mean? Even if we have a significant pullback higher prices are in our future. If you are a day trader that does not help you at all, I know. So it is your job to figure out when to jump out and when to jump back in.

As for me, I'm just going to ride it out for now until I have a clear reversal that I might be able to play.

Being a long term Bull is Cool. I don't care if I get "STUCK" in my current position. I've been stuck long for years.....

Is the market ready to light the fuse and break out of this channel now? no no no! correction in wave 4 now. Throwbacks! Ladies and Gentlemen this is your Captain speaking.

This is Bitcoin Eagle One to Control. Come in Control. This is Control. Go ahead Bitcoin Eagle One. Yeah, Control. Apparently we are leaking some residual fuel onto the launch pad. Could you please advise the ground crew to extinguish all smoking material before they blow us all to the moon?

Sorry about that Bitcoin Eagle One. We will get to work on that right away. Your indicators should clear up as soon as you pull free of earth's bullshit gravity field.

Roger that Control. We will continue our pre-flight checks and throttle up to full power soon.

Do you get where I'm coming from? Just another reason to keep stacking those Sats . The big boys KNOW where this is all headed and they are setting up the mechanisms now to skim their piece of the pie off the top. We need to get as much of the pie as we can before they take it all.

More food for thought...

Thank you! Share!
God be with you!

Flash UPDATE - 4th wave is 90% of the time a triangle just applying most likely scenario xD

Patience is the key to success.
Have a PLAN. Chance? He changes everything.
Just like our lives, we are not sure of tomorrow!

Good Morning! God be with you

My vision is this ...

We are working on Wave 4. If this level holds then we could say Wave 4 is complete and the Bulls are still in control. We may be going up to complete Wave 5 soon. Ifthis plays out as expected we should start climbing out from here.... If my count is correct we just completed Wave 4 and are starting Wave 5 UP! I don't want to redo my counts again LMAO, so let's just go up from here. OK? BITCOIN come on

So long as the price of Wave 4 does not start making candle closed 4 hour or 1 day closes below the top of Wave 1 (Closing price) the Bulls are still in the game. I guess we will all find out soon enough....

EVERYBODY wants the price to go lower for their own greedy reasons. Yes, I said greedy. The underlying reason everybody wants to see lower Bitcoin prices is not because they think it will fail but because THEY WANT MORE OF IT! So..... what happens when everybody wants the same thing? The market tends to do the opposite.

The weekly buying pressure (money flow) is rising.
(Remove the quotes from the link)

Still LONG
I have no stops! I am a HODLER!


Good luck!

Proverbs 27:1
Do not boast about tomorrow,
for you do not know what a day may bring.

Your future is today! You may not be here tomorrow, and you certainly don't know what will happen tomorrow. God has given you today and you must use it wisely!

Keep Calm!
GAP CLOSED! Do not be stupid

Wave 5 - TARGET 16k

Still LONG
I have no stops! I am a HODLER!

Comment: Are they alive?
Do the BEARS scare you?
Keep Calm. Nothing got out of control.
Tonight I will post updates.
My new studies are being done
Trade active:

Elliott Triangle Wave

I will not extend now ...
I'm short of time. I have an appointment now.
The night I return if God permits and I update creating a new study ...


Still LONG
I have no stops! I am a HODLER!

Comment: After you go to the moon? Can we go to mars?


Amazing! Wake up or play!
As planned. Price inside BUY ZONE.
Bom Final from weeks to everyone ..

*** Awaiting the breaking of the triangle to update the new study.


Soon I will publish another study.
Personal problems.
I'll be back soon...
Trade active:

Rising wedge
TARGET 9k ~ 9100

This will be the last leg of the correction wave. After I finish ... let's start up ... up and up. Great opportunity for LONG ... Add contract, add margin. Good luck and thanks

*** CME GAP OPENING > 8500

This correction might not be over. What I can say with confidence, however, is that we have already completed pattern 3-3-5 Flat Correction and that did not end the overall correction. Then we completed what looks to be a large ABC pattern or Wave X and is developing, did not end it. Some corrections become more complex with multiple Elliot Wave corrections together before the overall correction finally ends. A "Double Three" for example will complete one corrective wave pattern, have an X Wave, followed by another corrective pattern and then it's over. Or there is also something called a Triple three which has a corrective pattern, X Wave, corrective pattern, X Wave, and then ends on the third corrective pattern. What appears to have happened is that we definitely completed a 3-3-5 Flat corrective pattern and I'm assuming the big ABC that followed was the X Wave and we are now trying to finish up with the final corrective pattern. The Zig Zag makes the most sense at this point and looks to be developing now. The Zig Zag is a 5-3-5 type corrective wave pattern. Will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500 (BTC1!) CME OPENING GAP ***

At any rate, like always, this is not advice, just one person's opinion of the current chart situation. I thought about raising cash at the top of Wave B but will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500

I am not Bearish long term. I am a Bull of Bulls. A new Bull run will start with a very aggressive and impulsive 5 wave move up. We have not seen that yet. I just have not been able to line it up with a valid impulsive pattern yet.
It looks like you're not being impartial or objective. Try to ignore what asset you're looking at. Your analysis reflects your desires.
Great analysis! Good job! Tnks
+2 Reply
Its a good chart.
+2 Reply
Perfect long set uP!
+3 Reply
Like your Idea, but You have too MANY trendlines in chart so its harder to see Big picture :D
+3 Reply
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 TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out