Dear Friends!
So 6,000 USD is still the most likely scenario. I've tried here on this chart to illustrate how, classical charting (Head And Shoulder, wedges, channels, pennants, flags, tunnels etc.) and Elliott Waves works together.
As you can see, it looks like we are having a small ABC-correction. I told yesterday in our Private Forum, that IF we went passed 7,200 and above 7,300 USD we could get long, because a new 1-5 Elliott Wave structure, could be in the making. And we could probably easy go to 7,800 USD because of clearance.
But as you can see it seems like our 1-5 EW Structure has collapsed, and it looks more like a smaller ABC-correction. We can therefore now expect a 1-5 down correction. We will have huge support at 5,900-6,100 USD (double bottom), so one of the waves might be truncated.
Everything also seems to match classical charting if this 6k-scenario is the case. As you can see we are trapped inside a big bear flag, and inside that one, we have a smaller bear flag (dotted lines).
D4 Hates You - April Fools - haha ha.... :(
Remember to give a BIG LIKE and follow for more <3
So 6,000 USD is still the most likely scenario. I've tried here on this chart to illustrate how, classical charting (Head And Shoulder, wedges, channels, pennants, flags, tunnels etc.) and Elliott Waves works together.
As you can see, it looks like we are having a small ABC-correction. I told yesterday in our Private Forum, that IF we went passed 7,200 and above 7,300 USD we could get long, because a new 1-5 Elliott Wave structure, could be in the making. And we could probably easy go to 7,800 USD because of clearance.
But as you can see it seems like our 1-5 EW Structure has collapsed, and it looks more like a smaller ABC-correction. We can therefore now expect a 1-5 down correction. We will have huge support at 5,900-6,100 USD (double bottom), so one of the waves might be truncated.
Everything also seems to match classical charting if this 6k-scenario is the case. As you can see we are trapped inside a big bear flag, and inside that one, we have a smaller bear flag (dotted lines).
D4 Hates You - April Fools - haha ha.... :(
Remember to give a BIG LIKE and follow for more <3
Note
There are many ways of showing the same thing. The correlation between patterns and Elliott Waves. Right now we are still going down.A weak broken shoulder normally predicts a steep downtrend. I've used Trendbased Fibonacci Extension Tool to predict the waves. Support levels (blue dotted lines) and lack of support levels are in my equation.
D4 loves you <3 Remember to give a like! TY, my friends :)
Note
So as predicted we are falling. Steep downtrend!Note
When everything is in harmony. Patterns, waves. I adjusted the new 3rd Elliott Subway. Note
6,560 USD now! Still going down. Follow the Elliott Waves beautifully :)Remember to give a LIKE <3 And Happy Easter.
Note
6,480 USD - Are you ready to put some buy orders around 6,150 to 5,900 USD??Please give a BIG LIKE <3
Note
BOOM - So our 5 down-correction is done, and we will now most likely see an ABC correction.But what a bounce. 6,400 USD to 6,800 USD in NO TIME. This doesn't change anything so far though.
We still have to go through 7,200 USD before it will ruin this scenario.
I will follow up on this later <3
Note
Very steep uptrend followed by a pennant, is a bullish sign, and we are about to go higher. We have resistance at 61,8 retrace, and also on RSI.If we take a look at the Volume Profile, we have gone from a HVN (High Volume Node) and 61,8 % retrace and 78,6 retrace is a LVN (Low Volume Node), so we should expect to see a reversal there.
I will follow up on this later. It's quite interesting - please give a like <3
Note
Watch out for Hidden Bearish Divergence on the 4h Chart. As you can see, the price is making lower highs, but the RSI is making higher highs.It's a continuation pattern, and it normally predicts we will continue our downtrend.
Pls give a LIKE <3
Note
Best BITCOIN Overview: The Bloodbath Is Upon Us: How To Survive!
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.
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.