Possible path (imo the most logical) volume is low and bitcoin is very slow in correction waves especially when it is in the weekend.
This correction would fit in nice in the bigger picture. pls also check my wxyxz correction i charted in august.. press play and enjoy.
I will put the link in here
Looking @ the weekly chart of bitcoin we can see that we hit the trendline (old support) and just above there is the 50 ma. This would take a lot of power to break.
But looking @ the daily rsi which is on par with dec 2017 and the evening doji star forming on the weekly i dont see how bitcoin will brake this area now
my primairy elliot...
I called the top on my previous YETI post on a 2.0 extension. Currently watching this count to initiate a wave 3 down. Overlayed EW theory and lines up nice with the IPO share unlocking. Look for one more roll upwards to finish sub-wave 5 of wave 2.
Potential for 50% drop on wave 3 alone. Purchasing mid/late May puts otm sometime next week if the wave 5 of 2...
FIRST OF ALL, I AM NOT LONG NOW. SHORT-TERM I AM BEARISH. Lol... This is a long-term post, but entry now probably isn't what I'd prefer.
So all of my posts recently are shorts and are very bearish, mainly because they are short-term. Long term I'm still REALLY bullish on Bitcoin. Its going to sky rocket. But skyrocketing in value is pretty dangerous, so if it...
Hey guys, the chart below shows my Elliot Wave count and why I believe we are headed to 11-12k before dropping down to sub 4k for one of the biggest BULL TRAPS in bitcoin history.
I'm sure you've seen it, the bulls are out in full force and they are all claiming that the crash has ended. Everyone seems to be super optimistic, yet we know that when optimism is at...
OPTIONS PLAY: LONG PUTS or sell calls.
Keep an eye on the sub wave 1-2 extension at $110 at 3.0. A blow past the green zone will have to reconsider the count. Puts 2 months out, cant go tits up.
This is a close-up of the larger wave 3, see my long term chart for this.
The EW count suggests we are at the top here and about to...
The recent low of 3122.28 was the end of our major retracement "C" wave from the ATH . We shouldn't see lows below this. If we do, then this changes the major trend for Bitcoin , turning A-B-C into I-II-III of a 5-wave sequence down.
A breakout above 5774.72 will confirm bullish strength and the current bullish trend, further validating this wave count.
Dumping my entire $100 leveraged portfolio on this scam. Hoping this thing falls to $0. But a realistic target is probably something like $50. But this is trading, greed is our friend. I think? So lets call this thing a scam and short it to $0. Please Arthur do not fail me.
The touch at $0.81 shows it is not ready for a breakout quite yet. This reaction was at the long time trendline resistance.
Short term: it did the same thing. I think it's safe to assume it will go back up to retest it again and hopefully get to the 50.
Long-term: Look for a break above $1 after we coil down a bit more.
ADABTC looks great technically. If money comes back into the market some of it will definitely go here.
Wavecount complete and clean, nice momentum divergence on the correction, cloud breakthrough and test.
Good odds trading it with ichi, one could put a stop under Senkou Span A/B, I wouldn't though.
This is how I see it today, I see ABC correction, where B wave is a triangle.
Please comment your ideas and observations, I'd love to hear them.
This is no advice, I am a new trader, who is still learning.