Same scenario on Bitcoin. Some people call it fractal, the rest just say "this time its different".
Retest of 9k (minimum) is needed for confirmation as support zone before the bull run.
Retest of 9k (minimum) is needed for confirmation as support zone before the bull run.
코멘트:
One small run left on Bitcoin, starting right now.
액티브 트레이드:
Short till 10.5k, stop loss 12.1k
코멘트:
Look at the bright side... its still "bullish" on the hourly +. Dont check the 15min bars or less, no one does i dont know why they even exist...
코멘트:
There it goes, the blood of the perma-bulls. 5min candles win.
코멘트:
Alright, trading corrective waves is tricky, there is no clear indication when this is gonna stop, but the mid 10k levels offer the first mini support for a bounce. I havent label the waves yet because we need to see them develop and then use that info. The decline this time is much more aggresive, but hey! you can check the left part of the image, you may find something interesting.
The first REAL support is at 10k tho, but that may take days...
The first REAL support is at 10k tho, but that may take days...
코멘트:
Some typos here and there, pretty common for me. :)
코멘트:
Bitcoin has more room to go lower. But i guess price action and volume based traders can play with it for now.
코멘트:
There is one more wave missing on Bitcoin before we see some bounce, but we are getting there.
거래청산: 타겟 닿음:
Short target reached (10.5k). The down trend looks still strong here, there should be a bounce soon either as a B or 4th way down.
코멘트:
코멘트:
Bitcoin gets a bounce here, it will probably dance insde the box ( <10.7k) before aiming higher.
코멘트:
There might be a minor wave missing. If this is not the local bottom, it should be around 11300 +-50.
Divergences on RSI and WT, SMI needs to go a little lower for a recharge.
Divergences on RSI and WT, SMI needs to go a little lower for a recharge.
코멘트:
Well, not the best grammar, it should be missing a small wave so the bottom is very close if not here.
코멘트:
10300 +- 50 * sorry my bad . It should be on its way.
코멘트:
Lots of blood here. I will try to make some reason out of this.
Pro tip: flash crashes on the way up or down indicate where the peak/bottom is (slightly higher/lower).
Pro tip: flash crashes on the way up or down indicate where the peak/bottom is (slightly higher/lower).
코멘트:
There is an interesting fractal with this bounce and the bounce from 6k, but its on a much smaller scale, if this is indeed a fractal it should continue like this.
코멘트:
Ok this is the best i can get with the current data. As long as it doesnt get through 10k, I expect a MINIMUM drop to 8.6k. If it gets close to mid 10k levels ( which i dont see it for now) , the MIN target is raised to 9.2k.
Bottom line, we will see a lower low.
Bottom line, we will see a lower low.
코멘트:
I have mirrored it so its easier to understand.
코멘트:
You dont get this info with trendlines and 4h candles boys!!
I had to get that out....! :)
I had to get that out....! :)
코멘트:
This is what i expect in the next few mins, dont trade based on this...
코멘트:
Well hours, not mins. So it might be a good idea to trade alts before Bitcoin drains them on its C wave up.
코멘트:
Bigger B done on Bitcoin, C up has already started. It should get between 1.236 - 1.618 so it can appear as "Resistance" to the price action/ volume based traders.
Fib one is also a possibility.
It has to make some kind of H&S pattern on its way down, to convience the rest.
Fib one is also a possibility.
It has to make some kind of H&S pattern on its way down, to convience the rest.
코멘트:
코멘트:
RSI rising wedge, one wave missing.
This can complete the whole C or part of it. This is not a trading area.
This can complete the whole C or part of it. This is not a trading area.
코멘트:
I will try to provide updates on this on my twitter since i wont have access to my PC during the next hours and also dont want this post to get clustered.
No need to follow, just make sure you refresh the page from time to time.
No need to follow, just make sure you refresh the page from time to time.
코멘트:
Quick update on this. Its far from done, there is at least one minor wave missing.
As of now, lots of fibs are around the 8.6-8.8 area. This is a potential area for a bottom. Personally i want to be sure before calling that a bottom, since i think it can get even lower. This is still a no trading zone.
As of now, lots of fibs are around the 8.6-8.8 area. This is a potential area for a bottom. Personally i want to be sure before calling that a bottom, since i think it can get even lower. This is still a no trading zone.
거래청산: 타겟 닿음:
Both targets reached, one more left
코멘트:
Its funny how every "expert" analyst suddently turns bearish while i was during all this silly run to 11.7 and getting mocked that i miss the bigger picture by looking at the smaller time frames. How convenient!
Well i hope you guys got your answer, since i know you are checking out my ideas!
Back to Bitcoin, its not done yet. One more drop to ~7.6k This was just the expected fib support levels.
Well i hope you guys got your answer, since i know you are checking out my ideas!
Back to Bitcoin, its not done yet. One more drop to ~7.6k This was just the expected fib support levels.
코멘트:
This is an attempt of catching the knife, dont follow it unless you understand the risk. It can still have pretty long wick to 7.3k levels before some real bounce.
코멘트:
This is not a triangle anymore. It looks like a clear ABC for the 4th on the smaller timeframes.
코멘트:
Alright, i was talking with @monkia for the past hours and im having second thoughs on this. There is a chance that we trade on the 7.6-9.2 channel for the next days till this is proven as a strong support. It lines with the price action at this area after the 6k bounce and volume is slowly starting to appear.
코멘트:
The I II III, can be an abc which lines with my initial idea as a bigger WXY, and we take of from here (or slightly lower) without the need of retesting.
코멘트:
Bitcoin should be on its way down.
코멘트:
Beware folks, this is not a normal move and liquified a lot of short positions. But someone was planning this along because they went long few hours ago. Nothing on the chart or the oscillators points to a move like this.
코멘트:
거래청산: 타겟 닿음:
Final target reached, this scenario is still valid unless it goes much lower.
