"A man who desires revenge should dig two graves"
Back at September 10th we were optimistic about BTCUSD as it shown some volume , force, fractals and an Elliott counting that indicated a possible bullish reversal with higher lows since June 29.
As trend-based fib-extensions shown on previous TA, BTC price bounced a lot on 0.382 range on the last 3 bullish...
Back at September 10th we were optimistic about BTCUSD as it shown some volume, force, fractals and an Elliott counting that indicated a possible bullish reversal with higher lows since June 29.
As trend-based fib-extensions shown on previous TA, BTC price bounced a lot on 0.382 range on the last 3 bullish rally's and we concluded that this would be tested once...
This is a technical analysis based on Elliott wave that maintains the initial count of a possible bullish reversal with higher lows since June 29.
As trend-based fib-extensions shows, bitcoin price have been bouncing on 0.382 range for the last 3 bullish rally's and this shall be tested once again near 6780, zone.
By Wyckoff analysis, we had no volume and it was clear we were about to shake market to destroy bullish confidence and open space for institutional positioning. You can read the previous analysis for yourself (PART 3).
By Elliot, if we don't cross bullish limit, as much we go down, as much violent gonna be the wave 3 short squeeze and price spread.
By Gann, we...
What about now, José?
The party is over,
the light is off,
the people are gone,
the night has gone cold,
what about now, José?
what about now, you?
you, who are nameless
you, who mocks others,
you, who writes verses,
who loves, protests?
what about now, José?
You have no wife,
Have no love,
can no longer drink,
can no longer smoke,
Wyckoff BTCUSD PART 2 ran smoothly. That confirmed we are not on a sharp correction and should expect truncation. As previously stated, we got oversold on 1D chart and got the failed swing with another leg down, but the squeezing of some longs did not happened. PART 3 is directional and try to elaborate on the last moves of the correction.
On Wyckoff BTCUSD I expected a faster and sharper correction. Because of this context I envisioned a price move from 7800 to 6400 or less. But it didn't broke that level of support. That indicated that we were not on a sharp correction.
On that case, Wyckoff BTCUSD PART 2 try to elaborate on a longer correction, after the Downward stride was broken.
Although I have been bearish , I think this may be our last correction wave. It may or may not squeeze some longs.
In case market ignores consensus and stays bearish during it for the first time ever, they will get squeezed nevertheless and 6K something becomes a reality once again with anger, and maybe depression.
Building up on Elliott Wave Techmology study, this is the candle pattern from MtGox collapse pointing new lows.
Although a W.4 is expected to normally retrace 0.5 and move sideways, W.2 retraced for more than one year and the start of W.1 isn't determinable to secure that 0.786 retrace. In this case by following Elliott rules, W.4 should be a sharp wave,...
Context: G20, Google Ban and Tendency. From Indecision to bearish. This means dense correction and agglomerated 4~5 on this impulse.
Clues: This long correction have been fighting res. and sup lines and traded below Wave A.v. So we expect this to be another impulse down.
Aggression Level: Lots of attacks on Price Action, expect players trading truly aggressive....