Look at August-September 2020. Looks quite similar and would please both bulls and bears. We are currently retesting the distribution and I am bearish. I would not long here and the RR for longs is quite nonexistential.
The wave count unfortunately has been incredibly choppy on small timeframes however, the trend remains in a convincing downward motion (for the time being). Previously, my assumption was that Wave 3C was still in play but that particular idea has been debunked, thanks to fibonacci/elliott wave invalidation.
The clearest and simplest wave count shows that we're...
Bitcoin traders/investors continue to play Tug Of War as the asset continues its correction south (Wave 4). Expect Wave C to develop as an Expanding Ending Diagonal. With a 3 wave move for both Wave 1 and Wave 2, there's a good chance that Waves 3-5 will also develop in 3 wave sequences.
Viewing this formation on smaller, hourly charts looks extremely choppy....
The next movements that Bitcoin will do are bearish.
We can see the price action having place below all support from the indicators.
Personally, I will look for another entry @ $57.2k-$53k; why not accepting a discount when you have one?
I'm expecting BTC to complete a 535 correction back up towards $58-$59K.
Stronger downside should continue afterwards.
Bears are currently in control for the short term (days).
Within a zig-zag, the following rules apply:
Wave A - can be impulsive or diagonal (in this case it was a diagonal).
Wave B - can be any 3 wave corrective pattern (in this case...
Looking at a race beginning between the White Energy in the 90 minute and the Red RSI in the 3H.
What does that mean for the indicated price action?
Of course, nothing is guaranteed. Except that this is not Advice, merely educational study.
Even as I type this the price action has shot up to $47,200
Doesn't mean we shouldn't keep watching closely!
If this Red RSI in the 90 minute closes below 50, then the white energy in the 90 minute needs to close above 50 before the Red RSI in the 3H closes below 50. Right now, with that angle of descent, that looks unlikely.
AND, if the 12H Green closes below 50, especially with the Red RSI heading down strong with it, we could see a Bearish move to the Yellow Basis...
The pump up to $48K still seems to be in range for the Extended Flat correction to be valid. Invalidation level is at $60K but technicals make a route to that level look impossible. Which do you think will come first, $60K or $21K?
Small charts under 1D have been extremely choppy which has made for a ton of liquidations on both sides of the market. I myself included.
Thank heavens for risk management and stop losses.
Zooming out to the 1D chart, we can see a much clear picture and pattern at play.
The previous Leading Diagonal formation which I was expecting to play out, unfortunately...
Misaligned fib tool on my last call for top at $36.1
$36.3 was truly the top.
Like Al Pacino said, "life's a game of inches".
That's also what 'she' said.
Prepare for the drop and bounce from around the $27K area.
BItcoin Bears will regain momentum from here and force the market down toward $30K ; very likely we will break down below it but only for a limited time.
According to Elliott Fibonacci , we're currently in Wave 3 of the 3rd Wave of the final 5th wave down, for Wave Cycle 1 .
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this is most important levels to watch in daily timeframe , once we wanted to wait to daily retest but then we realized even 1h is enough in bull market lol ,actually this is a short for me , also chaikin says we have a room to fall but wait .. whoes gonna short in this market ?
After the first Crab and the upward wedge failed to confirm the trade, a slightly larger Crab appears ***Pokémon music intensifies***.
All previous ideas are listed below
So the idea is going short in the next few das for a couple of weeks probably.
We can enter the trade once we see any price action and/or indicators supporting going short.
Stop Loss and take...
Hi, i always post a TA When i see a Big bear movement, see my previous post ^^
The situation is unclear, Moving side to side showing bullish or bearish momentum; For the last weeks we can see that clearly the volume has decreased, therefore a big corrective or bullish wave is incoming. For the last days the bulls tried to break the triangle formed HrHesistances...