BTC - Long and then Big Short

Hi everyone,

Posting an update view of the bearish diametric idea, I think I was a little too bearish on it before and we probably have one more wave up.

There are two possibilities for the end of Wave-F I have on here, yellow and green crosspoints. One at $9100 and the other at around 8k. The first would be if Wave-C takes AB/2 time and the second being AB time for this correction.

Afterwards we can expect another ABC up into Wave-G, which will end below the white trendline, possibly making a new ATH for BTC.

Good luck everyone!

Not trading advice (of course).

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zoomed look at where we are now, alternate wave 5 and end of F in yellow and white respectively.

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Price are approximate, timing is more critical here... looking at 8 AM July 17th UTC or midnight, July 24th UTC.

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Personally I think the first target is most reasonable, but the second is a backup in case it really wants to dump.

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Some potentials for the end of G, I think likely along one of these trendlines (orange), and at one of the major resistances from the last bullrun (red). The top being the ATH of the last bullrun.

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Zoom with markers so that you can see the prices...

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One more option that is lower - it just depends how slowly the upwave goes

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Last post before I stop spam posting - a few targets which stand out as most likely base on when I think Wave-G should end in time. 15.8k, 17.2k and 18k.

as those are targets that cross a trendline and resistance at the approximate Wave-G end time.

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Final thought, I adjust the lower target for Wave-C to 8k, it lines up with a better support from the last bullrun and align with the midline of the channel

Done. Promise.

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Last one... promise this time. 8k Makes a lot of sense. The last correction we saw but C time at AB time, which is where that would happen. 9.1k is a possibility, but I think this might be a better choice.

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Looking at Stoch RSI, 9100 is a definitely possibility. If we do go to 8k though, the weekly will likely reset, and we will be set for a big upwards move.

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$9200 is actually channel bottom, so that might be more appropriate too.

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Of the larger channel, anyways

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...having said all of this, there is still a possibility that this is an impulsive series beginning. I was expecting a drop to around 6-7k in the event of Wave-2 happening, which if I use channels I get a price of around 7k for C being AB time. Will post a chart in a second,I channeled the entire upmove and then also the correction, and the midlines align with some strong support/resistance lines making me think that that could be the case.

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Sorry, this may be a bit difficult to see

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So unfortunately, right now this is probably a bit useless (sigh), but at least it give three possibilities for where we may go, depending on the strength of the dump.

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Drawn a bit better/more exact so that all channel intersect at the same point

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If it is this new case, I think we will see a drop around C=AB/2, as there are two channel midline intersections at that point... so I highly recommend not to buy my original $9100 estimate. Sorry guys... hopefully caught this in time, I'm really leaning towards this being the case - too much is lining up now.

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The other possibility is we go sideways until July 21 at 8 AM and then we have the drop, when we reach the channel top of the smaller channel approximately.

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Please see my other ideas here, as these ideas are all posibilities and use BLX historical BTC data so I can get a reasonable count finally.

Ideas here:

Trade closed manually