mk_trader

mk_trader

... then it might not happen.

mk_trader

I have been following closely this situation for a while. Look at the upper blue trend line.

mk_trader

BTCUSD bounced of 1 extension of wave A in latest A-B-C correction forming after ATH at almost 20,000 USD. Critical level to hold was at about 12,500 to 13,000 level which was taken out with strength. After that price movement formed leg C which bounced nearly to the 1 extension of leg A in latest A-B-C correction. Exact level of 1 extension by my measurement is...

mk_trader

LTC had done very nicely in past few days, hats down! Congratulation to everyone who entered long few days ago! Patience is the key. We must wait for pointers in this situation. Price movement is showing complete wave 3, for those waiting the opportunity to go long, I will watch closely 372-383 USD level as this 0.382 Fib from last down move from 420 to 301, It...

mk_trader

LTC had done very nicely in past few days, hats down! Congratulation to everyone who entered long few days ago! Patience is the key. We must wait for pointers in this situation. Price movement is showing complete wave 3, for those waiting the opportunity to go long, I will watch closely 315 EUR level as this 0.382 Fib from last down move from 349 to 260, It...

mk_trader

I have made this chart a week ago, it is comprised out of GoldBug1 and MarcP charts and done in EUR. Well, have missed this one because all of my attention was at BTC, and was kind of disappointed with ETH after initial move up.

mk_trader

Will we hit 0.382?

mk_trader

This is 1 minute move. How do you trade this? Setting crazy low limit order and hope for the best? Pure luck?

mk_trader

Channel on log scale

mk_trader

1hr chart, if this is A-B-C retracement, probable levels are on the chart. If A-B-C unfolds, zone to watch is 372-359 EUR. Last number, 359 is support-resistance level from past few days. Take long position after levels are confirmed. In generall, do not take any trade on my advice. I mean it. Do your own charts, understand what is happening and why. Make your...

mk_trader

ETH has formed double top in 1hr chart, followed by down movement, let's see how much will it go down, there are some Fibonacci levels on the chart, bu from my (short) experience, durring larger upward trend, cryptos do not do much of a retrace, 0.382 is sometimes all we get.

mk_trader

Taking into account previous data, in retracement scenarios most probable levels are 0.236 and 0.382. In the retracement scenario from current ATH at about 8350 level, there is zone between 0.382 in smaller time frame (from up trend starting at about 5645) and 0.236 on larger time frame (from 2970ish at 15th September), this zone is set at 7076 - 7313. In this...

mk_trader

The main question is whether we have finished W1 of what I call epoch wave count. This is EW count starting from the beginning of BTC time. Move to latest low 11th November is in the middle between 0.236 and 0.382 correction for epoch W1. If this is it, it is very shallow correction and we are going for new highs. Fact that supports this way of rezoning is that...

mk_trader Updated 

Everybody is charting down. Everything is pointing down. The thing that is not so clear (to me) is where are we in the EW count and down which leg are we going to move. Red EW count starts at 15th July, with W1 finishing 2nd September and W3 finishing at ATH 8th November. After W3 up movement, we are currently at W4 and here is the problem. Looking at Fibonacci...

mk_trader

Haven’t see such nice symmetric triangle and consolidation area in BTC for some time. Just wanted to take note of it. It will have to move after this.

mk_trader

I must say that I very much like fractal idea of EW count tied to support-resistance Fibonacci levels as it can be shown in past that charts have followed those paths. Kudos to MarcP and GoldBug, this is summary of their latest posts. YELLOW Fib levels go from 200 to ATH, accounting for W1 of whole BTC history, copied this from Mr. GoldBug. RED EW count is...

mk_trader

This looked very odd. This is when someone knows news beforehand. Classic example how market reveals trends before news has time to break out. I've shorted some of my BTC after this move in short consolidation period that followed. Now, with Segiwt2X out of the way, we are returning to market conditions, probale correction and cosolidation.

mk_trader

Where are you headed?