On the 26th of July, BTC will find itself at crossroads and be left with the very difficult decision to make, namely, Up? or Down? For now, BTC hangs tight between two inclining support/resistance as indicated in the chart. It also finds itself inside an expanding wedge pushing it further down towards the support trendlines indicated by thick green and red...
Well, instead of breaking down from the Symmetric Triangle as it should have ideally and logically, BTC decided to go up a Rising Wedge!! KRAKEN:XBTUSD
To be crystal clear, I'm niether here to predict what will happen, nor to claim like the many knuckle-heads, "BTC reached MY T4RgEt" or "BTC moved EXACTLY!!! as I said it would (U+1F4A9)". I'm not delusional or arrogant to make such claims. If my targets are hit I'm happy for myself and my viewers and that's it. Humble and polite as it can get! That doesn't...
The bigger symmetric triangle broke down leading us to where we are now. Target of the symmetric triangle, which also coincided with the maximum extension of Elliot's corrective Wave C (which is 1.618 time wave A or "beyond"), was the thick red line below @ 7.4k. Now BTC has formed yet another symmetric triangle trying to break upwards, which if succeeds could...
Before any of you jump up and scream, "That's not how you identify a pattern!!", namely the Bullish Gartley (***which may or may not be in formation***) is just an imaginary depiction to support the case of Scenario 2. Scenario 1 - Bull Trap Scenario 2 - Continued Bullish Momentum Scenario 3 - Bear Trap Scenario 4 - Long Due Correction Scenario 5 - RIP? I don't...
A short term fractal spotted, which if plays out, might break down from the symmetric triangle, leading to newer lows at 8.2k!
"BTC is not out of the woods yet!!" What a ducking cliche to say!!! While there are many analysts forecasting moves up to 12k or 14k and beyond already(though very plausible), it will definitely not happen from the current levels i.e. 10.8k. Two important trendlines on the way up haven't been touched yet and BTC never leaves a trendline untouched! 10.9k area...
I personally prefer to swing trades when my undivided attention is available for trading. Unfortunately I don't have the time and hence a few very conservative swing points with low risk. No time to publish new charts, all the more no clear perspective yet! KRAKEN:XBTUSD
A break below 11153 today could accelerate things and reach ~9.6k tomorrow
KRAKEN:XBTUSD ****Do your own analysis and trade your own targets, then you have only yourself to blame if the idea doesn't play out****
You take the blue pill, the story ends. You wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in wonderland, and I show you how deep the rabbit hole goes!! KRAKEN:XBTUSD
KRAKEN:XBTUSD - Do patterns stop playing out once they are identified? In one of the concepts of multiverse, every action branches out into it's own universe thus creating gazillions of parallely exisiting universes. I'm wondering what if, my identifying a particular pattern in this universe, results in creating an alternate universe, where the pattern...
***IF*** the daily closes below 11690, we could expect two big nasty daily candles before the close of the week and BTC could slip down to 9.3k - 9.5k!!! Be safe out there!!! KRAKEN:XBTUSD
The right shoulder, if and when it forms will be the peak before wave C starts.