My prediction has little bit difference, compared w/ other traders perspective.
This difference comes from EW counting of part below:
That means, we just have finished (b) and, going down to (c) point
Even if it retraced almost 0.618 fib level (which is $3,565),...
I have posted scenario that we are going just below 3K "7 months ago" ( 6th April 2018)
Well.... I have to admit that I was lack of skill at that time.
"Ok Bro, where will be the final bottom then?"
As you can see in the main chart, I think final bottom will be below $1,826 and most likely below $1,400.
You might remember last "China FUD" in July 2018
If you have watched my previous posting, you might notice that usually my posting is NOT ambiguous(I hate "it might go up or might go down".... I am not chicken).
Even though I hate the ambiguous (of course sometimes I had to execute stop-loss haha), current situation is quite interesting.
If you hate my long explanation, I will give you an ULTRA EASY TIP in last...
let me answer question; "Why I got into short position at $6,500"
There are infinite number of EW counting, but this one might be most optimistic.
In this counting, we are on the C wave of 3rd ABC correction of triple zigzag.
So the end of this wave should be lower than $5,755...
I warned you guys that it will start free falling soon and I went into short position, in my last comment of previous eng posting.
I am still holding my short position from $7,374 (XBTU18), and repeating short term long position scalping as a hedge. (XBTUSD)
Now I have to set optimal closing strategy to maximize my profit.
Now I can see a diamond pattern, and...
It was a boring sideway market for a while.
I am a quite lazy person who cannot post everyday in eng public forum in my summer vacation period :D
Anyway, back to the chart, I think most likely we got rejected really hard at $7,280~$7,350 (and put some short order at that level)
I managed to hold in the channel, but 4hr chart RSI implies we are going down to...
Let me ask you one thing:
Do you really believe 'ETF postponed' is that much big issue that can make btc price go that much fast down???
My answer is absolutely "NO"
Why it goes down so fast?
I do consider current situation as "ETF is already approved and whales want to get as many as coin, before THE ANNOUNCEMENT"
So, the announcement might be delayed as...
There is a lot of FUDing out without any reason
Some people might think ETF postponed is the key source, but forget it.
If you want to be trader, you have to be away from these kind of news.
Back to the chart, as I told you my yesterday posting, my order was filled.
But I feel some thing goes wrong and managed to take small profit only ($6,680 ->...
I know some people already bought at $6,800 ish, and I don`t blame them (It is quite solid action imo)
But I think it might go down little more, so I am still waiting for better entry for my long
Or that is just my hope because I am greedy
ok let`s look at closer
This is what i am thinking most possible scenario:
There is a bad news:
"We might break down below $7K"
Because we have simple correction in green box area, we have complex correction in current situation (in blue area)
let`s look closer
I know some people might disagree with my...