Hey there...after few days watching BITFINEX:BTCUSD we can see the market very calm last hours. And in this case, we have some confusion about where this is going to go. Ussually when you dont know where you are, is because you are into an elliott wave 4, or a triangle.
Right now, i imagine a descending triangle formation, doing right now the C wave to 7300/7400,...
Hello friends! After some days of just watch the market, i worked on this new scenario, and as i do always, the key of every strategy is risk management.
After the big rebound that we had on the FIB 72.8% (7250) we saw again the price going back to the 9k, then to 8k zone. So, to make it clear, right now we still in a bearish scenario, the midterm downtrend...
New update on our dear BTCUSD
Clear wedge of elliot wave 5 of a first long term uptrend.
This movement will be finished at 11800 zone.
Then, we can wait 2 possible retracements:
short on 11700 - 12400 zone.
stop loss 12500.
take profit: 10k or 8.5k at your own risk
As usual, just a comment, not a recommendation
Last days i were out of the market just thinking why if we broke the resistance of the dowtrend line from december did not fly to the moon. That´s because technical analysis always can give you something new to learn or practice.
In this case, after a lot of work, just tried to put the things clear and we can see the downtrend line still alive on the LOG...
Keeping last idea we published, BITFINEX:BTCUSD tested long term downtrend without success. Right now we can wait for a new HS formation to make a new bearish movement until 9 - 8200 zone.
So, right now we are going to place short positions from 10.700 to 11150, with target to take profit at 10k, and 9k. Stop loss of this strategy 11250.
Just be careful about...
BITFINEX:BTCUSD Strategy Options:
Long: breaking 11400 is reachable 12900 target.
Short: at 10900/11300 zone. Target 9700 / 9000 zone.
Mid Term: Bottom at 6000, if 8900 zone is NOT broken. With 8900 broken, Elliott Wave Analysis will re open gates to 4500 / 3000 bottoms.
Good Trades for all!
BITFINEX:BTCUSD Long positions activated from range of 6000/7000/8000. Right now we are in the first wave of a new big bullish movement.
Stop Loss Levels:
For rebuy: 7900
100% out: 5990
New targets added in both directions:
Long Strategy: will be valid breaking last 16500. First Target 17900/18500; then new highs.
Short Strategy: below 14850 allows to think on 8500 / 7300 zone.
After this last retracement we can expect some new scenarios:
10.950 is the 61.8% of the movement from 5457 to 19891. This point is the main support to hold to take as finished this correction.
If this happens:
- New long targets to: 12830 / 14220 / 15299
- New short target to: 8000 / 7200 zone
¿How will we operate this?
Buying zone from 11.000 to...