Updated Bearish scenario . Bitcoin cruising to 4k ?

Updated

This is pretty much the same scenario i previously posted with a small calibration. This is just one possible bearscenario. Im still very bearish because we haven't done anything exceptional to prove otherwise. Atleast if we are looking at this through Eliiot Wave glasses. This is still just normal ABC or WXY correction. If we break 10k, ill possibly change my view to bullish side. possibly. :).

For me it is really all the same whatever this is cause i'm a trader and traders dont give a s..t whether it's bullish or bearish.

My roadmap is currently this which also is pretty much synced with wallstreet cheat sheet atleast for now:

1.9300 (Sell/Short position)
2. 7750-7850 (Buy/Long position)
3. XXXX-XXXX (Sell/Short position) -> we will know after target nro 2.

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Wallstreet cheat sheet. Calibrated version in 2 hrs chart

Check out the 1:1 calibrated wallstreet cheat sheet version

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9300 target achieved. Moving to short with stoploss. My prediction is that we are going sideways atleast for the next 24hrs

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Done a bit more calibration. Perhaps too early to say but next target for short term long position is in 7950-8050 levels. It can take us a week or more to get there or it could also happen tomorrow. I dont predict time.

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So. My short position got annihilated. Currently i have no position. Now i just have to wait confirmation to one way or another. If we break above 10k i will enter long and if we break clearly below 9k i will enter in short position. We will see where this wedge breaks and i see this coming before the weekend or even today (CET).

When the break comes to up or down, i will calculate next targets.

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On a daily chart Stochastic RSI is resetted for now which indicates downside trend to start. On the other hand RSI looks very bullish. If we look the retracement from 11700 to this point its exactly 0.618.
BUT
Like i said in my previous comment, i dont have position and i will not have until break will happen. I have no difficulty to admit that i dont know where we are going at the moment. Am i still bearish in long term? Yes i am but it wont affect the way im trading because i am not hodler

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Still watching this live. Too many beartraps. If it aint beartrap and i will move to short my closing target is 8000-8100 levels.

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For some reason i cannot publish updated idea but ill write it here: I still have my stoploss active. I finally solved this puzzle. Targets have been changed. I will cash out my short at 8450-8550 and move to long untill 9800-9900. Ill try to post that wave analysis tomorrow again but thats my current roadmap for now

JoppeJoppe

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