BTC! Bitcoin! Bulls & bears battle to the death! 15min subwaves!
Hi Guys!
Lets get to it…. what you’ve all been waiting for! The 15 minute subway breakdown!
I’m going to continue with the trend of my previous posts… I’m keeping my eye on both bullish and bearish scenarios, but I am currently charting the bear for the following reasons:
- We’ve been in the downward trend for awhile. The trend is your friend. I will not assume the trend has been broken until I see the signals and breakouts to convince me.
- My subwave charting lines up with the bearish count, whereas since I’ve started my ideas, I’ve hit a few trouble spots along the way establishing a bullish wave count that lines up with good Fib levels…. I’ve had no trouble lining up my bearing wave count with good fib levels the entire way.
Here are tips on zooming the chart to see the subwave breakdown better:
-hover mouse near the center/bottom of the chart to make the 5 popup buttons appear: < - refresh + >
- press + a bunch of times
- on the right hand scale where the prices are (7500, 7600, etc), click and drag upwards. This zooms the scale and unlocks chart dragin.
- click in the main chart area and drag to the current price area.
Lets examine my chart above. Everything is in reference to the big purple wave 5 down.
- The low of 7728 was the end of subwave 1 going down. All fib retracement and extensions line up nice for the 5 waves of this subwave 1.
- We are now heading up for the ABC of subwave 2.
- AS I”M WRITING THIS I BELIEVE SUBWAVE 2 JUST COMPLETED! It shot up to the 1-to-1 Fib Extension from the A-B sub-subwaves.
- If I’m right…. We are now starting the subwave 3 down! This is were we will start confirming the bull, first by breaking below the 7728 log of subwave 1!
- If I'm wrong and the chart keeps shooting up with strength, past the C top I have labelled, then I'm going to start charting the bullish count! Lets watch closely!
- Don’t pay to much attention to my charting of the subwaves 3,4, and 5 targets. Just guesses for now that I’ll fine tune as the subwaves develop.
- Again, watch my big purple comment regarding the long-term rising trendline... Once we confirm the breakdown, say below 7300, the bear is confirmed to me. For educational purposes, one could establish a short position there.
Good Luck!
LLCoolRS
If you find these posts useful and helpful, please follow me, like my posts, share, and comment!
The more positive feedback I get, the more motivated I am to post and update!
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
Lets get to it…. what you’ve all been waiting for! The 15 minute subway breakdown!
I’m going to continue with the trend of my previous posts… I’m keeping my eye on both bullish and bearish scenarios, but I am currently charting the bear for the following reasons:
- We’ve been in the downward trend for awhile. The trend is your friend. I will not assume the trend has been broken until I see the signals and breakouts to convince me.
- My subwave charting lines up with the bearish count, whereas since I’ve started my ideas, I’ve hit a few trouble spots along the way establishing a bullish wave count that lines up with good Fib levels…. I’ve had no trouble lining up my bearing wave count with good fib levels the entire way.
Here are tips on zooming the chart to see the subwave breakdown better:
-hover mouse near the center/bottom of the chart to make the 5 popup buttons appear: < - refresh + >
- press + a bunch of times
- on the right hand scale where the prices are (7500, 7600, etc), click and drag upwards. This zooms the scale and unlocks chart dragin.
- click in the main chart area and drag to the current price area.
Lets examine my chart above. Everything is in reference to the big purple wave 5 down.
- The low of 7728 was the end of subwave 1 going down. All fib retracement and extensions line up nice for the 5 waves of this subwave 1.
- We are now heading up for the ABC of subwave 2.
- AS I”M WRITING THIS I BELIEVE SUBWAVE 2 JUST COMPLETED! It shot up to the 1-to-1 Fib Extension from the A-B sub-subwaves.
- If I’m right…. We are now starting the subwave 3 down! This is were we will start confirming the bull, first by breaking below the 7728 log of subwave 1!
- If I'm wrong and the chart keeps shooting up with strength, past the C top I have labelled, then I'm going to start charting the bullish count! Lets watch closely!
- Don’t pay to much attention to my charting of the subwaves 3,4, and 5 targets. Just guesses for now that I’ll fine tune as the subwaves develop.
- Again, watch my big purple comment regarding the long-term rising trendline... Once we confirm the breakdown, say below 7300, the bear is confirmed to me. For educational purposes, one could establish a short position there.
Good Luck!
LLCoolRS
If you find these posts useful and helpful, please follow me, like my posts, share, and comment!
The more positive feedback I get, the more motivated I am to post and update!
Disclaimer: This is not financial advice, and is given for educational purposes only. I make the charts, you make your own trades. Never blindly follow internet advice for your financial decisions... any analyst can and will be wrong.
Comment:
LOL, maybe I shouldn't double guess myself ??????
Press play on the chart, and it sure looks like subwave 3 down, powerful as expected!
Press play on the chart, and it sure looks like subwave 3 down, powerful as expected!
Comment:
Update:
- We've followed the bearish wave down to the 7500 support zone.
- I expect this 7500 to hold now as support with a nice bounce upwards.
- The bear/bull battle continues.... this could be the bottom the bulls are looking for and after the upward bounce, ride momemtum upwards.
- Or after an upward bounce, the bearish wave down continues. To me a breakdown below 7200 will signal 6000 as the next target down, probably with more pain to follow
- We've followed the bearish wave down to the 7500 support zone.
- I expect this 7500 to hold now as support with a nice bounce upwards.
- The bear/bull battle continues.... this could be the bottom the bulls are looking for and after the upward bounce, ride momemtum upwards.
- Or after an upward bounce, the bearish wave down continues. To me a breakdown below 7200 will signal 6000 as the next target down, probably with more pain to follow
Comment:
Press play... we can see the candlesticks are a step lower than where I drew my 1-2-3-4-5 bear wave down. We have just completed wave 3. So the bounce upward I describe in my comment above would be wave 4 going up.
Comment:
New idea posted!
I'm seeing my count is off... I'm going to do an bigger update when I have time.
Lots of mixed signals now. Im seeing bullish divergence through the RSI on the 1 hour chart.... we have the tops (highs) of the price hitting lower highs... but the corresponding RSI is showing higher highs. This indicates bullish strengh is building.... I must analyse the bullish view now as this is a STRONG strike against the bearish view!