Sometimes things become very confusing, but if we go back on time,... jan 2017... correction should not be over.. bull trap...
Context As per my previous analysis here , BTC is moving within a well defined triangle pattern on the 1 day chart. The market refused an early breakout yesterday and you can see how it happened by analyzing the 4h chart above. Current setup and likely outcome BTC completed an Elliott Wave impulse sequence (12345) uniting the edges of the larger timeframe...
I think is a bulltrap, and then down to 12,000 and 10,000 support.
I am expecting a bull trap before massive shorts come in. 50 MA $8500 , 7.3 100 EMA, 5.5 200 MA and 4.7k EMA. A full .786 retracement puts us at 4.7k and .618 7.1k. Dailly RSI confirms a bearish divergence. Markets fall faster than gain, and big money will take advantage of the volatile market. Be careful going long here. Nothing goes up in a straight line forever...
Probably it has repeated the same pattern from the dates on the chart, it has reached its final target X 10 .. from 1300 to 13000, from August to December.
Same chart ive had all week, just minor adjustments. Look for correction about the 12th
Be carefull, don't get bulltraped. High chance that we are in one now. Previous falls always retraced to 0.786 fib, then fall continued, and ended on WMA(200) line, with touching oversold zone on RSI, so high chance of repeating. We have strong support on 5000, so fall should'n be ended below that poin, but it's crypto, and the panic is good way to buy...
Looking at the channel and pricea action it can still go both ways in my opinion. Please share your thoughts. Monero xmr btc
2h time frame shows that BRK.B formed flag. After possible bull trap near 190 price can reach support near 188 and then may grow higher again
Perhaps short recovering but long term falling prices till segwit 2 of BTC. Big chance for higher prices after segwit 2. Watch volume and macd!
The move to $4k invalidated some key requirements of Elliott Wave Theory in regards to subwave numbering of the ABC corrective wave. Therefore, we need to re-analyze and re-number waves. There are two possibilities here. The first is that the ABC corrective wave has completed and that we are in the early stages of a bull trend. The second is that the ABC...
Its been a great run - but what goes up - must inevitably go down. I've told everyone that listens to buy Ripple - as this holds the key for profitability for all of the cryptoverse. If we break this last key fib level - look out below.
What goes up, Must come down. Ripple holds the key. If this key fib level is broken, the flood gates will open and red will flow. Hope it doesn't or else it will be a long painful ride down for everyone, except for the banks whom quietly exited back in June... of course.
Easy break through zone for silver where cloud made a thin area to break, Caution though, simple breaks like these do not provide strong data on whether to continue long or short. CTF bouncing on lowest level and testing its strength against trend lines be ready for anything. --------------------------------------------- CTF - SILVER -No Trade action until...