Hey Friends <3
D4rkEnergY is done with his comparison with 2014 and 2018, and will now take a closer look at the action right now! We have not really have big swings lately due to the crazy resistance right above our head (3 blue lines). Also we have a lot of support from the uptrend line, which has been super strong.
BUT NOW GUYS... We will VERY SOON face an exciting time! Let's jump in, and take a look at my 2 charts.
The first one on the left, is a 1D BTCUSD Chart. As I see it, we are on a 5 Elliott Wave Correction down. We are right now on the 4th wave (look at the yellow circle), and we still need our 5th wave (in blue), there possibly can take us down to under 5,000 USD.
If we look at the chart to the right, where I have zoomed in on the current action, and which is a 4h BTCUSD chart, we can see that it doesn't look like a normal ABC-correction. It seems like a combination pattern XWY, which has been fxxxxx up by the crazy spike. Anyway...
There is still a chance, that we will go to 8,8xx USD, where we have huge resistance though, but I think it's more likely we will go down for the following reasons:
1. A bearish Flag Pattern is in creation.
2. RSI Resistance at level 60 on the 1D Chart, which we still haven't managed to break.
3.Due the Regular Bearish Divergence, which is a reversal pattern, and which we ALWAYS will see on the 5th Elliott Wave.
Let's see!! Exciting, exciting...
D4 Loves You <3
As always: Please hit that LIKE-button, and FOLLOW me, if you haven't done it yet. It would make me happy :) Thx in advance!
D4rkEnergY is done with his comparison with 2014 and 2018, and will now take a closer look at the action right now! We have not really have big swings lately due to the crazy resistance right above our head (3 blue lines). Also we have a lot of support from the uptrend line, which has been super strong.
BUT NOW GUYS... We will VERY SOON face an exciting time! Let's jump in, and take a look at my 2 charts.
The first one on the left, is a 1D BTCUSD Chart. As I see it, we are on a 5 Elliott Wave Correction down. We are right now on the 4th wave (look at the yellow circle), and we still need our 5th wave (in blue), there possibly can take us down to under 5,000 USD.
If we look at the chart to the right, where I have zoomed in on the current action, and which is a 4h BTCUSD chart, we can see that it doesn't look like a normal ABC-correction. It seems like a combination pattern XWY, which has been fxxxxx up by the crazy spike. Anyway...
There is still a chance, that we will go to 8,8xx USD, where we have huge resistance though, but I think it's more likely we will go down for the following reasons:
1. A bearish Flag Pattern is in creation.
2. RSI Resistance at level 60 on the 1D Chart, which we still haven't managed to break.
3.Due the Regular Bearish Divergence, which is a reversal pattern, and which we ALWAYS will see on the 5th Elliott Wave.
Let's see!! Exciting, exciting...
D4 Loves You <3
As always: Please hit that LIKE-button, and FOLLOW me, if you haven't done it yet. It would make me happy :) Thx in advance!
Note
Seriously the bulls don't give a fxxx at the moment! Give them a bear flag, a Head and shoulder pattern AND regular bearish divergence, and they don't care and just continue up, even though they only have had a retracement on 23,6 %.I did expect to go above again, but I was expecting around 38,2 % retrace first. It seems like they really want to go for that that 5th Elliott Subwave I also was talking about in my earlier post, when I made the comparison between 2014 and 2018.
D4 loves You <3
Please give a LIKE, and I will continue to update you - thx friends :)
Note
Just to be clear. It hasn't chance that much overall. We are still in a bigger bear flag, and might continue down from here.I have illustrated the different scenarios for you.
1. If we will make the 5th subwave at around 8,8k, hereafter we need an ABC-correction, and will go down.
2. Which is the most bearish scenario, is, if we immediately will go down and have a 1-5 EW structure will let us go under 5k.
<3
Note
After measuring the Fibonacci Ratio relationship between the different waves, I feel more and more convinced, that we will have a 1-5 down correction now.If a C-wave in an ACB correction is 161 % or longer of the A-wave you should start thinking, that this is no longer part of an correction pattern, but the C-wave are rather a 3rd impulse wave.
Note
Super exciting movement right now!! If Bitcoin will make a a 5th subwave it has to go ABOVE 8,182 USD now.If it doesn't manage to do that, we will probably follow the 1-5 EW down movement, I illustrated for you before.
Da da daaa... I promise to keep you updated, guys! Please leave a LIKE :)
Note
7,900 USD now! I think we will go lower. 7,600-7,400 USD maybe. And then it's going to be exciting ONCE again. Will me make that 5th sub wave to 8,8kish or will we just make a smaller correction and then continue our BLUE C-wave to 5k?
D4 Loves You <3
Remember to give a LIKE for the updates :)
Note
Sorry. Meant that 5th blue Wave down to 5,000 USD.Note
Prepare for the Bear Flag! Next stop: 7,600 USD!D4 <3
Note
WHALE-PARTY! Boom - within 2 min, when most people were short, whales pumped the the price 250 dollars, and liquidated the poor shorts!RSI almost 80 on 15 min. chart!!
Whales are having fun at the moment!
Note
It's very clear here, that this is what we call a bear trap from the bulls to KILL the shorts!EVEN the ones who were bullish, who thought we would go to 8,7k - 8,8k (5th EW), assumed we had to go lower due to this 4th wave we are on now, which isn't complete.
So most of them thought we had to go to 7,7k minimum, and I can see many mentioned 7,6k -7,4k AND even 7,2k.
You can also see, that the move is unnatural if we look at it from a classical charting perspective. We are in a bear flag. We are making lower highs, and as you can see, we are about to fall through (red circle), but out of no where, that whales take the price 250 dollars up within no time and send the RSI in fact in 85.
We have seen these dirty moves from whales many times the last 3 weeks.
Note
Here is the new and interesting update - enjoy :)
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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.