AsproTrader

AsproTrader

A Larger Correction Pattern could be forming. Regular abc Flat Pattern if price does not stay above 37522.75 or 78% Internal Retracement and breaks back to the downside.

AsproTrader

After Bitcoin put in an impulsive 5 wave leg from the 2021.06.08 Low to the upside along with an abc correction, the BTCUSD pair was due for another impulsive leg to the upside. I thought Bitcoin might have waited for the Monday US Session but apparently it seems in a hurry and is now putting in higher 4 hour candles. Along with Elliot Wave Projections I have...

AsproTrader

just now Typically a steep pullback from wave 1 to wave 2 would mean a more shallow pullback for wave 4 from 3. looks like we may just have that.

AsproTrader

Bitcoin finally targeted SS 29th of May and looking towards a 1-1 measured move down to 31705 and possibly lower to SS 23rd of May.

AsproTrader Updated 

Guys, once again Bitcoin has given everybody the slip. The upwards momentum last evening at the open was not sustained and price proceeded to make a double flat pattern which I have labeled yet again (w)(x)(y). Current price action appears to be making another form of 3 wave pattern to the down side and possibly creating one of the two possible harmonic patterns...

AsproTrader

Guys I have been doing quite a bit of Elliott Wave Analysis over the weekend and on the Sundays open market conditions appear to have changed. On the 17:00 EST 4 Hour Candle price completed and abc Flat Pattern at a low of 35199.10. This ended Wave 2 and begun the third wave in and Elliot Wave 5 wave impulsive leg. Price appears to have started the third leg of...

AsproTrader

Looks like we are dealing with some type of Flat Correction. Leg C has printed at the 1.115% Fobonacci Extension and now is pulling back. However caution should be given as Bitcoin is in a very deceptive corrective pattern. We could end up with a much deeper Expanded Flat. Overall Bias remains Bearish. Good Luck and Safe Trading!

AsproTrader Updated 

Guys Bitcoin has been in a very complex correction since the end of the recent May 19th decline. It has formed a sideways pennant / triangle consisting of ABCDE Legs of 3-5-3-5-3. I believe we have now come to the end of this correction since the Overthrow of the E Leg high at 39407.55 on June 3rd. Price has shown bearish impulsive price action on Friday to the...

AsproTrader

Guys I have cleared my charts and had a simpler look at Bitcoin from an Elliott Wave perspective, with my limited knowledge and have come to an analysis of what I anticipate as a result of the more recent price action. Bitcoin has completed 4 of the 5 legs of the bearish triangle. ABC and D Legs have been completed and we now wait on the E Leg, which is taking...

AsproTrader Updated 

Looks like we have a Bearish Butterfly forming on the 1 Hour Chart.

AsproTrader

Since the 29th of May, Bitcoin has been fighting its way back to stay above the 50% of the Bearish Triangle. Over the last day we discovered a Bearish Butterfly Harmonic Pattern in the making. It is anticipated that price would continue to fight its way above the 50% line and into the Harmonic Pattern Zone above 38000. Current 4 Hour Bias is Sideways to UP. See...

AsproTrader

Over the last couple of weeks Bitcoin has be trading in a sideways range consisting of a triangle pattern. Using time projections, we will have completed about 75% of this triangle pattern between June 2nd and 3rd. At that time we should anticipate price reuniting with the 21 day average which has not been checked in with since the 13th of May. After June 3rd we...

AsproTrader

Bitcoin closed a couple of weeks ago above 33000 and since which has not looked back at that area and continues to look upward. The next bullish weekly target is in the region of 44500 and possibly up to our projected Elliot Wave d Fibonacci levels between 47000 and 48000. Should price break down from its current upward trend we could see a retest of the 33000...

AsproTrader

Due to the scale of the pullback from the all time 3 month high above 64000 on the monthly chart and price seemingly to have completed the first part of an abc correction by the end of the month of May, hitting a low of 29960 it would appear that we would be due for a pullback and then a possible resumption to the downside for a 5 wave corrective pattern leading...

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Looks like we might be back in play....just need more volume.

AsproTrader Updated 

Bullish Bat on the minute chart

AsproTrader

Bullish Target Area. Once reached we will look for potential long opportunities.

AsproTrader

Almost at Bullish Target Area.