DJase464

DJase464

Coming off the low support zone after market correction from SNL and Elon shenanigans, We now have possible market acceptance of a bottom. The structure was very ugly from the drop and slight recovery attempts made throughout the week. I suspect If we are bullish this is the path to 1 dollar and probably a blowoff top a bit higher near 1.18 or so. Be weary of the...

DJase464

We could end up having quite a few complex corrections here but I'll toss up and idea for the levels at least. I'm not short here but I'm looking for the next long setup above 42k.

DJase464

Possible 300% long setup on a correction here into the golden zone. Leaving up a predictive fork to see how the target plays out.

DJase464

Should you buy it? Probably not, but will it pump? Most likely Hell to the Elon.

DJase464

Small update to my original post from last week. Elliot is not something I'm counting on here as there's so much outside force causing major panic we can't completely justify any count. If I were to count it I would say in the grand cycle we are doing a massive abcde triangle to complete wave but we must pay closer attention to structure and the major volume nodes...

DJase464

Global pandemic scares and worst economic crash in our lifetime lead to who knows where with btc. If not here 2-3K if not there 1 and if not there well when???

DJase464

As we get closer to our possible bottom for the correction from 14k we have to ask ourselves "where am I comfortable buying bitcoin?". I expect a final and 5th wave down to our 61.8-65% retracement of the whole move up to 14k. Using our fork lines we can predict the timeline for our buys. This projection is made off the assumtion that we may have the pivot here at...

DJase464 Updated 

We have had a failure swing at the 12k level giving us more confidence in our X wave. If we use the simple rule that Y is usually equal length of X and our fork from the 14k top we have a perfect level near 7600 and below. A relief bounce for the next pivot may be right around the corner but expect us to continue lower with this correction.

DJase464

Multiple path possibilities are becoming invalidated here as we test the bullish move up past 14k (Blue) If we break the 10,500 level 9k possible test to establish strong support on our median line to start the big one.

DJase464

It looks like we are heading to lower lows on this leg down of a possible C leg to finish up our combo correction.

DJase464

Using the pitchfork tool and some reaction lines we are starting to show a possible bullish scenario due to volume and an elliot wave cycle. Will be looking for a retrace at these levels or just slightly above 6800. Keep and eye on 6200-6450 for possible long entries but wait to see how we react at those levels. There is also an Inverse Head and Shoulders pattern...

DJase464

So far our elliot outlook has been playing out to our short idea. They has been a lot of volatility in these moves so stops have been quite wide. Looking to take profits by 7860. Will determine if there will be an extended wave at that level.

DJase464

Our long target was a bit short of 8800 but stops flipped short and now targeting 7800 with a new impulse down. It's more likely that the elliot count labeled in red is the correct count but we won't know for sure until the next retrace. If we break the current high swing then our wave 4 is not yet complete and that is where our stop is. Will be looking for long...

DJase464

I would wait for a safer entry above 8450 to break some resistance levels before longing but the overall outlook is still bearish for a few days

DJase464

Watching for wave 3 and a possible extension. All structures should finish off at wave 5 and a higher order C as well as 4.