[Red Apple] "Expected Falling Down"_BTC/USD_18.08.08
Updated
There is expected falling. As I allude, it is moving like above chart that was showing in previous briefing and also kept saying about Bearish Flag, Fib 0.5, EMAs are heading down , etc..
Let's start the analysis for BTC/USD chart.
If you are busy, you can just read below briefly
'1. Briefing '
'4. Summary and Strategy'
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1. Briefing
# Falling after retest 'Bearish Flag'
# Falling after touching Fib. 0.5
# Breakout of trend line
2. Daily Chart
1) Trend
Breakout trend line
2) EMA
20EMA(red) gonna meet 50EMA(purple) soon.
3. 4H Chart
1) EMA
a. EMAs are being arrayed in reverse order.
b. Candle is staying under 20EMA
2) Pattern
a. A cypher 'prz'
b. Bearish Flag
c. Crab 'prz'
3) Oscillator
a. RSI, CCI Bearish Divergence
b. RSI, CCI Convergence
c. MACD Dead Cross
4) Elliott Wave
Breakout of Wave 1 -> need to re-count -> as a comment, will up-load in this briefing
5) Fibonacci
Breakout of 0.618 after touching 0.5
6) Sum.
as i mentioned about Bearish Flag, there was retest of the pattern and then falling. at the moment, should be careful since $6800 line which is accumulated volume was broken
4. Strategy and Summary
Keep your stop-loss if you bought BTC using 'A Cypher' and 'trend line'.
a. About previous briefing : keep commenting 'Bearish Flag', 20EMA(4H) and Fib. 0.5. there was falling down due to those factors.
b. About this briefing :
b.1 Aggressive Traders:
b.1.1 Crab Pattern : trade from prz of Crab. Set your Stop-loss if you buy
b.2 Conservative Traders :
b.2.1 Crab Pattern : trade from prz of Crab when there is reversal signal(by candle or pattern)
b.2.2 Trade from about $6400 : Trade from about $6400 after confirming reversal signal(by candle or pattern)
Some people are saying that BTC price is falling down because there was 'News' about postpone of ETF Approve. I guess the most importance for trading is in harmony with 'Technical Analysis and Fundamental Analysis'. however, it is quite difficult to do perfectly both of them, even one of them. personally, i think 'Fundamental Analysis' is more difficult then 'Technical Analysis' since gathering info., reliability of info., analysis technic and etc,. are very complicated for 'Fundamental Analysis'. but Chart has great accessibility for all and much more simple. Traders like me who is not close with information should not depend on 'News' . Traders like me should
Make your standards.
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Comment
Keep falling down. if you bought BTC using A Cypher, keep you stop-loss.
Comment
Re-count 'Elliott Waves' due to breakout of Wave 1.
Using 'Elliott Waves' is better for set of target, not for entry.
Comment
1. Target for Bearish Flag is almost completed
(For your reference, usually set half of the target for high rate of success)
2. There is accumulated volume area just below prz of Crab
Comment
it touched $6360 and going up now. if it is closed like this, the candle becomes 'Hammer' which is reversal signal. Check it closing price.
Comment
Staying inside of Crap pattern 'prz' and accumulated volume. if you bought, keep your stop-loss always.
At the moment, if it falls down, it can be supported between Fib. 0.786~0.886
Comment
In my case, trade 2 times shortly like above (Do not follow this because the price become stable, now. so it's not effective)
If there is 'Hammer' candle, i planned to Buy again but this candle is not 'Hammer'. Now, it can be 'Dead Cat Bounce'. Therefore, if you are conservative trader, w'd better to buy when next candle is 'Bullish Engulfing Candle'.(cause of 'Dead Cat Bounce') If you are Aggressive trader and follow my strategy, take profits shortly and keep your stop-loss.
Comment
Closed candle on 4H chart but there is no Buy signal for conservative traders. keep checking the signal and if you r aggressive traders, keep your profit line and stop-loss.This is the end of briefing and if you got help from my briefing, click +Agree, +Follow.
Thanks.
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