BTC: Please stop messing with me
Updated
You're welcome for that clever title. Genius I know.
Anyway, bitcoin has been tracking my last few counts pretty well so those are still my primary for now. I'll link to them in the comments below. I've been tracking it for over a month building a case / count (I'll link them in order so you can see the process).
This is an alt count that I came up with the other day when I took a step back and simplified things. It's important as a trader to take a step back every once in a while and not get stuck on a count and let that bias build your chart and not the market data.
So with that in mind I built an alternative count that is a double zig zag. The reason I like this count is because everyone and their mom has a 5800 target so there is going to be a ton of stops just on the other side (MM's know this). The next reason which I can't show on this chart is because there is a huge gap right below 5800 on the VRPR so once that level breaks we're likely to drop hard.
Again, just a back up count I have going for fun.
Enjoy.
Remember, patience is key at times like these. You don't want to run out of capital before the next bull market.
Anyway, bitcoin has been tracking my last few counts pretty well so those are still my primary for now. I'll link to them in the comments below. I've been tracking it for over a month building a case / count (I'll link them in order so you can see the process).
This is an alt count that I came up with the other day when I took a step back and simplified things. It's important as a trader to take a step back every once in a while and not get stuck on a count and let that bias build your chart and not the market data.
So with that in mind I built an alternative count that is a double zig zag. The reason I like this count is because everyone and their mom has a 5800 target so there is going to be a ton of stops just on the other side (MM's know this). The next reason which I can't show on this chart is because there is a huge gap right below 5800 on the VRPR so once that level breaks we're likely to drop hard.
Again, just a back up count I have going for fun.
Enjoy.
Remember, patience is key at times like these. You don't want to run out of capital before the next bull market.
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Just updating 1 of my bear counts( I have a few). So far so good. I pulled over the blue box which was my target for wave 4 just for reference. Pretty close. Target is still the same. 12345 down is not measured, just an overview of what to expect.Note
Just a quick bitcoin update on the bearish count(s) I've been following for over 2 months now. Bulls seem to be running out of steam and bounced off the 65 of w2-w3 but we can see a push to roughly 7800 for this C Wave which would be 1.618 of the A Wave which is a common area.
If we break 7930 with more than a wick this count is invalidated.
Good luck Bulls.
Certified Elliott Wave Analyst - Crypto - Futures - FX
Twitter: twitter.com/HovWaves
Twitter: twitter.com/HovWaves
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