on inverted daily
코멘트:
Closer look at our consolidation on the shorter timeframe. Possible diamond formation here like earlier. Those usually mean continuation of the trend which is down in this situation but opposite direction breakouts happen too its better to wait for it to show us
코멘트:
bearish consolidation in progress
코멘트:
Tested green EMA in this place on the way up. Should test it here in similar manner
코멘트:
코멘트:
looks ready to fly
코멘트:
코멘트:
Should test at least the green EMA
코멘트:
Daily EMA 100 is tested as expected. Closing dalily above it might suggest test of higher EMA 200 but for now according to the plan it should retrace to the triangle again
코멘트:
Ok, EMA 200 was rejected as expected. At least for now. The sharp drop we just had, when I see such formations it always tells me its a possible diamond formation. I'm not sure about the EW count here but it might be something like this
코멘트:
Update for my followers. I circled bitcoin phases on inverted daily chart and the phase we are in now is probably the purple one. Thing to consider when taking long-term trades
코멘트:
Not impossible to get such retrace. Symetrical triangles are hard to guess but main trend still remains bearish on higher time frames. Bears stil control this sideways trend for now. Bulls need to break through 4400 and defend it to start thinking about changing the trend. Until then the plan remains the same which is bearish biased trading as long as weekly and monthly won't show some bullish signs of life or bulls break some important levels
코멘트:
still staying in the sideways scalping zone of boringness. Need to break through red or green to get moving faster. Daily rejection around here might
be a good short because that would mean we will most likely test down of the triangle again. It will smash through and squeeze one of the sides
be a good short because that would mean we will most likely test down of the triangle again. It will smash through and squeeze one of the sides
코멘트:
Bulls just broke through resistance which was my long trigger. Target probably around ~5k. EMA 200(another strong resistance is around ~4800)
코멘트:
Oh and funny thing. Move starting again with fibbonaci time zone. Such surprise..
코멘트:
sry for bad link
코멘트:
Hmm dont know why its not working
코멘트:
our resistance from the past is where this action leads
코멘트:
Wow got there really fast and it looks just like a "micro" 3rd wave. Might pullback here and take sideways before going up again
코멘트:
I want to see what candle will this monthly be in May. It looks very interesting now
코멘트:
We should build some flag here. My guess
코멘트:
Strong bull wave but there is bear div forming already. If it form some good bear candle somewhere in the circle it will surely perform some pullback
코멘트:
It may easy form a triangle here
코멘트:
my plan for now. Not sure if triangle will be formed but looking good so far
코멘트:
A triple top could be option too for this wave so better watch closely
코멘트:
as long as they don't fall down from this channel but here is possible move I smell right now
코멘트:
코멘트:
It has potential for a continuation still but pattern needs time to reveal itself in full glory
코멘트:
코멘트:
코멘트:
So it wasn't a triangle and It seems we are in this big wedge now. Ending third wave at the moment
코멘트:
Short term wave not done yet
코멘트:
Obvious wave so it has to fail right. Think some whales had to launch the order 66. Or maybe it was just the time as you can see below we entered another fib time zone. Its very precise lately. Anyway this big elliot is still my play. As long as it won't leave the trendline I will follow. Possible play
