PlayDefence

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BITSTAMP:BTCUSD 46% | 6 BITFINEX:BTCUSD 23% | 3 XGY 23% | 3 BTCUSD3M 7% | 1
PlayDefence PlayDefence BTCUSD, W, Long ,
BTCUSD: Would it be a bull market?
76 0 1
BTCUSD, W Long
Would it be a bull market?

note: wave counts refer to DanV's idea

PlayDefence PlayDefence BTCUSD3M, D, Short ,
BTCUSD3M: Probably one leg down before retracement
55 1 0
BTCUSD3M, D Short
Probably one leg down before retracement

- Double bottom is possible at previous low $210 (green arrow) - then retrace to red arrow possibly

PlayDefence PlayDefence XGY0, W, Short ,
XGY0: Recount WAVE 5 (Bearish Market)
99 1 1
XGY0, W Short
Recount WAVE 5 (Bearish Market)

- Compare WAVE 3 & 5's MACD, WAVE 5 lost momentum compares to WAVE 3, double top formation - Both Wave 3 of WAVE 5 & Wave 3 of WAVE 3 has RSI extreme reading, support Wave 3 count makes sense - RSI trendline broke and now RSI is below 50 on weekly chart, which is really bearish - Comparing time circle of WAVE 3 & 5, it shows WAVE 5 is shorter than WAVE 5 on time ...

PlayDefence PlayDefence BTCUSD, D, Short ,
BTCUSD: Alternate count for Bitcoin long term correction
87 0 0
BTCUSD, D Short
Alternate count for Bitcoin long term correction

This time WAVE C as an impulse wave, no more description yet

PlayDefence PlayDefence BTCUSD, W, Short ,
BTCUSD: Long term WXY correction of Bitcoin
206 2 2
BTCUSD, W Short
Long term WXY correction of Bitcoin

* Long term correction as WXY (double zigzags) * Wave B retrace 50% of Wave A * Wave C looks like an ending diagonal but wave 1, 3 dont have clear threes waves structure. But MACD indicator show previous low is probably wave 3 with MACD lowest low, plus MACD & RSI reverse divergence * Weekly 30MA act as major resistance, with less volume Summary: Big drop probably

PlayDefence PlayDefence BTCUSD, W, Short ,
BTCUSD: Long term WXY correction of Bitcoin (Bearish)
131 0 1
BTCUSD, W Short
Long term WXY correction of Bitcoin (Bearish)

* Long term correction as WXY (double zigzags) * Wave B retrace 50% of Wave A * Wave C looks like an ending diagonal but wave 1, 3 dont have clear threes waves structure. But MACD indicator show previous low is probably wave 3 with MACD lowest low, plus MACD & RSI reverse divergence * Weekly 30MA act as major resistance, with less volume Summary: Big drop probably

PlayDefence PlayDefence XGY0, W, Short ,
XGY0: align wave count with RSI, bull market almost finish
237 4 3
XGY0, W Short
align wave count with RSI, bull market almost finish

This time I count the wave by comparing historic RSI. details on chart.

PlayDefence PlayDefence XGY0, W, Short ,
XGY0: 1st wave of bull circle finish
27 0 1
XGY0, W Short
1st wave of bull circle finish

According to Elliot Wave guideline, wave 2 will retrace 50~62% of wave 1, if my counts is right. Also, RSI divergence indicates the index's top, plus latest canldestick, either Doji or Spinning Tops. There's not that much doubt on next week's movement. Bull circle is identified by weekly 30MA.

PlayDefence PlayDefence BTCUSD, D, Short ,
BTCUSD: Added Short Term Trend Line
150 0 2
BTCUSD, D Short
Added Short Term Trend Line

I tried to draw my own trend line, don't know if it's valid or not. Anyway, I drew it with my best. Newbie's idea, if price cant break above $250 within 24 hours, I think it worths to short below $250, target $236~230 area. If price break above $250, pay attention to potential double top at ~$260, then short below $260 target $236~230 area. Trend line knowledge ...

PlayDefence PlayDefence BTCUSD, D, Short ,
BTCUSD: Identify Support and Resistance
81 0 1
BTCUSD, D Short
Identify Support and Resistance

This is my first try to identify support and resistance. Above is resistance area $260~280, below is support $240. Due to breaking into $255~260 area lack of follow-through, so I think it worths to short below previous high $262.98, target $245~240. Newbies' idea anyway.

PlayDefence PlayDefence BTCUSD, 15, Long ,
BTCUSD: Huge reverse divergence in 15min chart Feb 16
60 0 2
BTCUSD, 15 Long
Huge reverse divergence in 15min chart Feb 16

huge reverse divergence, does it mean price will reverse huge ?

PlayDefence PlayDefence BTCUSD, 15,
BTCUSD: Reverse divergence
40 0 1
BTCUSD, 15
Reverse divergence

reverse divergence, right?

PlayDefence PlayDefence BTCUSD, 240,
BTCUSD: last high
42 0 1
BTCUSD, 240
last high

last high after no reverse divergence

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