AW Bitcoin Analysis - My Thoughts on the Current Waves...
Still expecting prices to go lower and here I provide some commentary on the waves since we started this move down.
Understanding what you are trading is important as it helps you understand if anything does not appear to be going the way it should.
So far, every wave here seems to be correctly identified except what comes next could be ending the first wave down or it may just extend lower.
If it is truly the start of Wave 3 then I don't expect prices to fluff around these levels for too long.
There are certain things that we can know for sure however in this case it evident that we still need to move lower even to complete that first move.
How do I know? There are only two patterns that a market produces; 5-Wave Moves and Zig-Zags. I call these wave components.
Each wave component has 3 variances and the combination of these patterns create what I call AriasWave.
If you don't know how to draw out every single wave that occurs in either of these wave components, then you need to learn.
There is a bit more to it however another thing to consider is how corrections expand.
Check out all previous related Bitcoin ideas down below.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
Understanding what you are trading is important as it helps you understand if anything does not appear to be going the way it should.
So far, every wave here seems to be correctly identified except what comes next could be ending the first wave down or it may just extend lower.
If it is truly the start of Wave 3 then I don't expect prices to fluff around these levels for too long.
There are certain things that we can know for sure however in this case it evident that we still need to move lower even to complete that first move.
How do I know? There are only two patterns that a market produces; 5-Wave Moves and Zig-Zags. I call these wave components.
Each wave component has 3 variances and the combination of these patterns create what I call AriasWave.
If you don't know how to draw out every single wave that occurs in either of these wave components, then you need to learn.
There is a bit more to it however another thing to consider is how corrections expand.
Check out all previous related Bitcoin ideas down below.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
