mikas_h

mikas_h

By no means something I am betting on just yet - just a possible scenario I saw whilst planning a recent lesson. Would be interesting if this broke down due to demand exhaustion since this bull run has been quite rapid. Not trying to insinuate this will be the top of this bull market but could serve as a local macro top with maybe a more macro (25-50%) pullback...

mikas_h

Do these even work?

mikas_h

Although MS looks like it has been confirmed to be bearish the overwhelming sentiment to the downside can be expected to be squeezed. I am weary of a move to the upside in order to continue building a short position. However, in the consolidation pattern, we have experienced over the past couple of days the bears look quite in control. Therefore, I am ready for a...

mikas_h

I know there is a lot going on in this chart... but it can be broken down into these simple components. PLEASE READ SUMMARY SECTION: Bullish (Green Box): 1. Pattern break: For the past month, it looks like we have been accumulating in a pattern similar to a symmetric triangle. With the recent pump, we broke out of this triangle to the topside and the dump...

mikas_h

Taking a step back and re-assessing the Elliot model I presented a few weeks ago. Looks like the 3 wave corrective pattern has officially been completed and the 4th corrective wave of the greater Elliot wave cycle - confirmed by the recent pump + dump we experienced. Although ideally the C wave would have been placed lower - this is crypto and anything can happen....

mikas_h

This idea is building off the idea that the 4th corrective wave is not complete yet as it is missing a 3rd drive to the downside (the C wave). The peak of the B wave formed perfectly against the Fibonacci extension level target of the 50-61.8% region. Drawing Fibonacci extensions of the most recent waves we can identify 2 potential target areas and potential pivot...

mikas_h

This is the potential bullish scenario. A pullback is expected as oscillators, sentiment, and structure analysis would require it to consider this a healthy uptrend. Using Fibonacci retracements potential pivot points are identified and circled - these are all potential points of reversal all depending on how in control the bulls are. However, taking a measured...

mikas_h

Just an idea curious to see if it plays out.

mikas_h

Bullish Confirmations: - Would need to close above the 21 EMA - Close above volume support - Close above major 0.236 retracement level (thick dotted red line) Bearish Confirmation: - Closing below 21 EMA - Closing below volume support - Strong rejections off the 0.236 levels Target zones can act as pivot points and buy zones are contingent on momentum and...

mikas_h

After assessing the traditional markets with some analysis pointing towards a possible top coming in with correction expected in the near future I decided to draw up a possible move for BTC in the foreseeable future as the current price level seems to be brushing against a critical Fib Retracement level on a larger timeframe (from the peak of the previous high...

mikas_h

Here I present a game of boxes. During indecisive times as these where consolidation is a likely outcome, I like to draw up an overall plan displaying neutral zones of S/R along with possible pivot points using Fib Retracements (and when they align - it makes for an interesting zone of possible entry). During an otherwise normal time period, I would expect price...

mikas_h

A possible bearish scenario for today. I am not a financial advisor this is a simple idea for the short-term. Please remember to use appropriate risk management. Possible SWP drawing upon the lower time frames along with oscillators on the different hourly timeframes still mostly pointing to the downside as they could use some relief. Also traditional markets...

mikas_h

A possible bullish scenario for today. I am not a financial advisor this is a simple idea for the short-term. Please remember to use appropriate risk management. Buy zone determined by a break above both 0.618 fib levels and above bottom trendline . Targets coincide with 0.236 levels and top trendline . If we break the top trendline on the 3rd wave the target is TP2.

mikas_h

With both bullish and bearish scenarios in play (for the medium-term)... also giving a consolidation period a look as price action could stay at the current level for a couple of days (or not - monthly close has the potential to make some moves) so establishing a scalping range for the next little bit. Be wary of the circled level as correction we had bounced off...

mikas_h

The market is at the cusp of very volatile activity. Movement can happen in either direction. This idea is drawn up on the daily and 2D time-frame and is a plan for the next couple of weeks and should be used in conjunction with my bearish scenario as both are valid. Not much to say right now but will be updating the post if bullish movement is confirmed. For now,...

mikas_h

The market is at the cusp of very volatile activity. Movement can happen in either direction. This idea is drawn up on the daily time-frame and is a plan for the next couple of weeks. Not much to say right now but will be updating the post if bearish movement is confirmed. For now, I am preparing for movement in either direction, waiting for trend confirmation.

mikas_h

This position is contingent on the idea that we may have reached some sort of top. If price retraces I would expect it to at least come down to the green box along with the potential outlined targets. As mentioned in my bullish scenario this could be a bull trap so if the momentum is there this might be the beginning of a bigger correction, will be leaning more...

mikas_h

Bull trap Warning. Although we've broken through critical resistance can't help but considering this being a bull trap so watch out! Need closures on the higher time frames (at least a 4 hourly double closure above most recent green box to confirm the level). Manage those SLs. Broke through key resistance levels and currently moving to the upside. Today is an...