This is an update on my previous BTC chart and nothing has changed for the overall picture besides the targets being surpassed. The entire PA structure is still 'in tact in regards to what we want to see.
The proposed WXY was given on OCT 22 and thus now has seemed to have completed the A wave impulsive structure from the break of the 6k Floor.
Moving forward if my analysis is to stay in tact it is absolutely crucial we hold the divergence pivot on pull back.
That pivot is located right at 3.33-3.5k and daily closes under or over can be very telling of where the market wants to go.
Hold it with 3-4 D1 closes and we are good for C lose it with bear volume and i guarantee the lows are wiped out, loose it without bear volume and we will hope to see the lows hold on the same basis as above. Losing upper pivot greatly jeopardizes upside potential and will thus lower targets if this indeed happens.
If C is confirmed we can set aims for upper targets.
A major Trendline was just violated and is seen in cyan i do not expect us to regain it on first attempt.
I see topside potential capped at 4.9-5.3k but can wick through the TL on a D1 basis. This is not a buy and HODL event with BAKKT and the ETF ahead as we do not know what is to happen.
Some decent buy volume came in but nothing that screamed bottom therefore my initial assumptions will stay in tact. That is we have not seen a capitulation event and it is still looming in our future. With the growing bullishness surrounding BAKKT and the ETF in general it is hard to want to jump on that same band wagon. Reason being is the fact that the news and general media are not your friend and really do not want what is best for you. The news does not tell you what is going to happen they only tell you what is happening. They are not there for Joe and Sue to make a killing but rather their partners involved which sure as hell aint any of us. So let me be your reminder that the news is not your friend and never will be. The news will never predict but only say what is already unfolding. For instance the ongoing FUD/Bearishness
WE KNEW we have been bearish since no Higher Lows were established on a HTF chart. Or the extreme euphoria that was December-February 2017-2018
anywho
If BAKKT and the ETF goes well and as proposed this entire scenario will probably be scrapped .
If it does not well the highs of 2014 look promising.
Remember two things
Buy the Rumor Sell the News
& most importantly
be like water.
@satoshiiheavy
Market analyzer for CryptocurrentlyVIP
The proposed WXY was given on OCT 22 and thus now has seemed to have completed the A wave impulsive structure from the break of the 6k Floor.
Moving forward if my analysis is to stay in tact it is absolutely crucial we hold the divergence pivot on pull back.
That pivot is located right at 3.33-3.5k and daily closes under or over can be very telling of where the market wants to go.
Hold it with 3-4 D1 closes and we are good for C lose it with bear volume and i guarantee the lows are wiped out, loose it without bear volume and we will hope to see the lows hold on the same basis as above. Losing upper pivot greatly jeopardizes upside potential and will thus lower targets if this indeed happens.
If C is confirmed we can set aims for upper targets.
A major Trendline was just violated and is seen in cyan i do not expect us to regain it on first attempt.
I see topside potential capped at 4.9-5.3k but can wick through the TL on a D1 basis. This is not a buy and HODL event with BAKKT and the ETF ahead as we do not know what is to happen.
Some decent buy volume came in but nothing that screamed bottom therefore my initial assumptions will stay in tact. That is we have not seen a capitulation event and it is still looming in our future. With the growing bullishness surrounding BAKKT and the ETF in general it is hard to want to jump on that same band wagon. Reason being is the fact that the news and general media are not your friend and really do not want what is best for you. The news does not tell you what is going to happen they only tell you what is happening. They are not there for Joe and Sue to make a killing but rather their partners involved which sure as hell aint any of us. So let me be your reminder that the news is not your friend and never will be. The news will never predict but only say what is already unfolding. For instance the ongoing FUD/Bearishness
WE KNEW we have been bearish since no Higher Lows were established on a HTF chart. Or the extreme euphoria that was December-February 2017-2018
anywho
If BAKKT and the ETF goes well and as proposed this entire scenario will probably be scrapped .
If it does not well the highs of 2014 look promising.
Remember two things
Buy the Rumor Sell the News
& most importantly
be like water.
@satoshiiheavy
Market analyzer for CryptocurrentlyVIP
Note
This is an alternative count that i can see also as true BUT the time frame analysis is not as clean as the BEAR count Bearish counts fibs match well check old BTC 70-30 BEAR Idea linked below to get the fib measurements
Note
Always be aware of all possibilities
be like water. formulating a few plans it all depends on a few things here is one
Note
took some crunching and fitting but i think i found out how this flat can play to the market and here it isim expecting no more than 4666 if this is to play out and because of that if we reach that zone without a healthy .5 retrace i will open up shorts upon monumental proportions
tradingview.com/chart/U35d9usD/
Note
Note
Dont say i did not tell ya Wave C looks like it has begun
break of 3500 will invalidate this
Note
keeping up with PA we see are continuously making HL and a few HH in the internal structure = BULLISHall that is left is for a HH to be painted on the entire structure to say we will move to our final targets
here is a chart to show what i see VIA EWT
BULL VIEW
BEAR views
W invalidation points
Note
Following the ideas above lets take some notes to why the H&S failed-my team went short and took the BEARISH set up against the H&S . BUT WHY?
pure sentiment across the board was too high, the pattern was too obvious, disparity in margin orders were far to great needed a snap back to the MEAN.
now for a new chart
Note
read notesShorting is not really favorable being so close to support
be careful traders !
Note
Moving along this analysis we see if you were a buyer on the pivot i had listed in my initial post youd be sitting well! here is the update !
cheers if youve been tracking this one with me
Trade active
As we continue on this journey we sill we may have completed this set up proposes on December 20th :) Congradulations if you followed this chart
You sold December HIGHS
BOUGHT January 3337 LOW
Sold the High just recently
CHEERS PERFECT 3/3
NOW will we have a perfect 3/3 TARGET strike ratio !
Confirmation is break of December LOWS with volume
MARCH WILL SET UP all of 2019
Have a plan. Trade it!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Have a plan. Trade it!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.