Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Dear Friends!
Let's just right into it. I have tried to identify the complex 4th wave correction pattern. It looks like we have a WXY (Double Three), which consist of first a Flat Structure with B as a Triangle Correction (ABCDE) and then ABC followed by a another Triangle Correction ABCDE.
If this is the case we should very soon continue to go up and start our 5th Wave. It's always hard to determine these waves, but one thing is for sure and that is, that the bulls are in control.
Here I have used Classical Charting, which show us the same picture. The Right Shoulder on the Head And Shoulder formation is big, why we usually will not see a huge drop or retracement.
Also this simple chart tells us that the Bulls are in control.
- We have escaped the down trendline - Bullish Momentum - look at the MACD Histogram - RSI looks good (not overbought) - Bullish Volume is again above MA20 - Increasing Global Market Cap and Volume, which tells us that the Market Sentiment is bullish
I hope you liked it! Please leave a LIKE, my friends.
D4 <3
Comment
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From a Classical Charting point of view we have an inverse HS Pattern, which also should take us up! So far it looks good for the bulls.
Go go!!
Comment
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I gotta be honest - it's always hard to predict a correction, especially in such an early stage, and it was maybe to ambitious. But here you have it.
It amazes me people still follow this guy, he got absolutely rekt during bear market.
kardia
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@Ibatman, In all fairness, bear markets tend to wreck most people due to their violent movements.
p2hku
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@kardia, In a bear market you just have to know how to trade! I also got rekt but it taught me a lot. I became a full-time trader this bear market. Couldn't have had a better teacher.
@LisaNEdwards, two reasons I know, 1) he's an Elliot Waver, and EWs were slaughtered in this bear market. 2) he in particular disappeared for a long time, after posting extremely bullish TA that proved absolutely false. Tuck the tail and hide.
LisaNEdwards
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@Ibatman, I am an EWer too, and he disappeared to go into treatment, see his twitter post. Not because of being slaughtered in the bear market. You are making assumptions that are unfounded
mbc47
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Dude, you’re up then down, I’m sure you will get one right
kardia
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You flip flop a lot!
kryptowavetrader
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Expect BTC to go back down and retest the lows sooner rather than later.
weslad
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Hey guys do remember when I posted about BTC at 3200$ that we should prepare for 5k journey many think am a fool, here we are 5k level is achieved, now I think we are due for correction and I made this call for us to maximize our profit.
Check the post out and see reason for the short call.