This is not Financial Advice.
Well we now have a clear break of the Gann Square that has been so effective this entire correction. On the latest swing, we see a reaction in the golden zone ( between .618 and .65) so we could see a movement upward. Also, depending on how you draw the fibs and pitchfork, we have a golden pocket trade outlined in the white box....
Well it has finally come. The final curve of my Gann Square has finally been broken, and now I believe we are headed down. In terms of how far, we can do a little fib analysis. Here we can see the scalp has bounced off the .50, which could be seen as a good move for the bulls, but I am not convinced. This Gann Square has been effective since the beginning of the...
This Gann Square has consistently been accurate throughout this entire correction, as I've previously stated. There has been a clear break out of the parallel channel that has contained price movement for the past two weeks. The final curve of my Gann square still holds, as you can see. But, I still believe there will be a severe break downwards, if not today or...
More sideways, not too interesting. Although something that IS interesting, is the hugging of the final curve of my Gann Square. This has happened in the past, to be followed by a break downwards. This goes along with with my March 4th prediction of a move downwards.
For the HODLers I hope I'm wrong.
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Well, good luck trying to find a count in this sideways mess. There have been pokes out of this channel on the 1h many times, it's a real battle between the bulls and the bears. Unfortunately for the bulls, there is a better case to make for the market going down for one more leg. Indicators, fib, gann and descending volume suggests we're going down.
The price has re-entered the parallel channel on the 1h.
We could see a push up to the .236 in a 5 wave impulse.
Because there was a reaction between the .50 and the golden zone, this could be the begging of an impulse wave upward
RSI is overbought, which could indicate the beginning of the 2 wave.
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Here's something I found interesting. BTCUSD pair on Bitfinex. On the weekly chart, there are two buy signals. The first, signaled the end of the '14 correction, with sideways fuc*ery to come. The second buy signal has come in December of '17. Does this mean the correction is over?
On the first buy signal, you can see big volume in relationship to...
Here is my bullish count and fib analysis.
We've completed a clear impulse wave in 5, and now are correcting in the final C wave. The C has blown past the .50, and now we're looking for the golden pocket trade. If we see a reaction upwards in the golden box drawn, we have an 80% chance of retesting the median line of the pitchfork I've drawn. The arrow points...
Many young traders believe that their favorite crypto has the ability to be traded without considering BTC and the TA associated with it. Some day in the future, this may be the case. Hopefully.
As of today, BTC is the only crypto worth doing any extensive TA, for a few reasons:
1. BTC makes up over half of Market Cap or Dominance.
2. The overall liquidity of...
Some think that since we broke out of the channel on the 1h, that it's time to go long and the bear market is over. As much as I would like to see that happen, it is very unlikely. We are still going down, hopefully to hit a long term fib target at $2660. The price on the 1h has retested the parallel channel, and now we're going down.
I think BTC will bottom out in the range of 1600-2600. This week we could enter this area based on my Gann square. In June we may enter this area because of the last right edge of my Gann Square. I say that September could end the correction, purely based on fib time analysis of the correction of '14.