Red_Apple

[Red Apple] "Finally, Corrective phase? "_ BTC/USD _ 18.07.26

BITFINEX:BTCUSD   비트코인 / 달러
Finally, there was a little corrective. yesterday, if you read my briefing in real time and buy, you may take some profits~!
Let's start the analysis for today's BTC /USD chart.

If you are busy, you can just read below briefly
'1. Briefing '
'4. Summary and Strategy'
and click '+Thumb up, +Follow' :-)

1. Briefing
# Retest down-trend line
# Corrective phase?


2. Daily Chart
1) Trend
Retest down-trend line

2) Candle
Bearish Harami -> reversal candle but if not reversal, existed trend might be stronger

3) EMA
20EMA(red) is rushing to 100EMA(orange)

3. 4H Chart
1) Trend
Retest down-trend line

2) EMA
there is possiblity to retest 20EMA again.

3) Pattern
a.
Completed Target for Harmonic pattern

b.
forming Head and Shoulder.

4) Indicators
some indicators are showing 'Hidden Bullish Divergence'
(again, indicators are just for a reference)

5) Elliott Waves
Now, 3 wave or 4 wave ?
( Elliott waves are very hard to count. sometimes, it can be recognized when waves are done. however, to set your target, it is quite useful technique.)

6) Fibonacci
still got resisted Fib. 0.886

4. Strategy and Summary
a. About previous briefing : gave 'buy point' based on Harmonic pattern , Double Top pattern and retest trend line in previous briefing. in my case, i bought BTC at the bottom of prz. Actually, the target was completed all. if you sell in right time, may take 2~3% profit. i think corrective wave is still weak but if someone want to hold BTC continuously, set short stop-loss(e.g. under trend line or completed Head and Shoulders pattern ,, etc,.)
(For caution's sake, it is always right for pocketing a profit. it doesn't matter how much other people take a profit.)

b. For this briefing : Candle was supported by trend line but still can go down due to weak corrective wave. If you buy near trend line , keep holding but if it is going under the line, you can consider it sell.
Corrective wave is weaker than i expected. it means that it can go down under trend line and go to retest up-trend line(bottom trend line ) in anytime. Therefore, if head and shoulders pattern is completed or candles are staying under down-trend line, be careful.

Trade safely and make your standards

If you think my idea is helpful for you, Click '+Thumb up, +Follow'

Also, if found something special, i will comment in real time
코멘트: At the moment, BTC is forming horizontal consolidation region. Focus on 2 channels and small triangle pattern.
코멘트: Breakout. Let see whether trend channel is supported or not.
코멘트: it can be recognized as symmetrical triangle but it is penetrated at the end of the pattern. so, it is more meaningful to be recognized as short-term trend line.
Focus on support or breakout.
코멘트: it broke short term support line. should check what pattern is forming later. guess it gonna move sideways. will check what pattern is formed from next briefing.

Thanks and if you think you got help some, click +Agree and + Follow. :-)
코멘트: it can be also recognized as inverse head and shoulders pattern but this pattern is more reliable when it's formed at the bottom.

This is really~ last comment!! see you next briefing.