Heading down to way under 5k but not just yet

Updated

This is a time to be very cautious and enter to position when you have clear idea and target to aim. I am very bearish on midterm, . Ive been that for several months and no reason to think otherwise. But as i said before, i dont trade like that. I trade one trade at a time. I see this market going down very hard but i dont see it will necessarily be ready for that yet. I see us trying one more larger move up. Not to 9k anymore. I think we can all forget that for now :). But over 8k we still have a chance. Ill keep this scenario updated as it plays through and post targets as they will present themself. Currently my target is 8,3k but im not in position until i get that confirmed.

Ps. If you wonder why my big triangle (turqoise) is not invalidated it's because i drew new one from the last bottom of 1st april till this moment.

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Lol. Maybe we are ready after all

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To get back being serious. Going short at 6430.

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If it stays aboe 6430 this count is still valid.

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Count altered to match with the current situation. As you whoi have been following my tweets noticed, i made 2 nice daytrades today with decent profits. Currently im in long position again from just below 6400. Aiming to 7k. Now if we break the 6300, i do not see us bouncing anymore but now i see a nice squeeze forming and indicators are starting to turn shortterm bull again. We shall see.

tradingview.com/x/h7BHt2gn/https://www.tradingview.com/x/h7BHt2gn/

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Target Update (dollars):

1. 7030
2. 4975
3. 7500
4. ?

Ill post the chart later

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The Chart for this summer ;)

Target Update (dollars):

1. 7030
2. 4975
3. 7500
4. ? (1300) ?

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It's been very good week for day trading perspective. On a swing perspective, not so good but patience is needed. Im currently in no position. I will enter long above 6650 (to 6900) or short below 6350 (to 5950). My daily moves can be followed through twitter @senseielliot (yes, with one t-letter, ).

Target Update (dollars):

1. 6930
2. 4975
3. 7500
4. ? (1300) ?

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Target Update (dollars):

1. 6880
2. 4975
3. 7500
4. ? (1300) ?

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On microlevel:

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Target Update (dollars):

1. 6800 -6900 (Yes i know, it's wide)
2. 4975
3. 7500
4. ? (1300) ?

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Ps Follow me on twitter: twitter.com/SenseiElliot
You can see my daytrading targets there

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Target Update (dollars):

1. 6800 -6900 Hit! ,
Closed my long
swing profit 5,3%. Yeah, it sucks as for swing but lets hope the next one will make up for that.
ill enter short to target 2 (4975) near 6900 or below 6600

2. 4975
3. 7500
4. ? (1300) ?

Daytrading still going on strong at twitter (Bitmex). Making more profit at daytrading currently which is rare for me as i am more of a swing trader by heart

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Buuuuyay!!! 5k here we come :).

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Note to not get you confused if you follow my twitter and this. My swing target to 4975 is still on and im in strong short position there from 6600. In my twitter i post day trading targets which differ a lot. For example i closed my day trade short at 6100ish to get a bounce to 6300. As youve probably seen, it didnt bounce. My next daytrade flipping target is 5750 where i expect a bounce to 5950. If you follow me dont mix these 2 things. I am mainly swing trader but also day trader with some level

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That was nice bounce. I waited that kind of reaction from 5550-5600 regions. Targets still apply BUT if for some reason we go above 6600 and trigger my swing stoploss it means that we are going to 7500 before 5k. So basically targets 2 and 3 other way around. We shall see.

Target Update (dollars):

1. 6800 -6900 Hit! ,
swing profit 5,3%.

2. 4975
3. 7500
4. ? (1300) ?

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To give more details why going over 6600 will trigger a path to 7500 or even 8k is in snapshot below. We have ending diagonal in this wxy(wxtzx) retracement. dont mind about any other markings in the chart, just the descending wedge. It seems to be clear that we wont hit that 5k yet. but whats the rush. Let's make some nice swing profits first. It will go to 5k after that if not now. dont worry :D....

Targets apply until we break that 6600. (i have stop at 6580)

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Lowered my stoploss to 6400 with automatic long entry. If it triggers i still get massive 3% gains (lol) and have a gairly good swing position for 7500. I will make a new count if and when it comes to that

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Lowered my stoploss to 6255 and it triggered. It's getting clear that we are starting to go up atleast for a while. Somewhere around 7500-8000. We can forget the 5k? No! it will go there and we should be pretty happy how bitcoin offers us good swing trades :). Im currently long and my preliminary target is 7500 BUT i will make a new chart with targets as we go above 6500-6600. This scenario made approximately 12% gains so pretty ok considering the timeframe and low volume. But still pretty disappointed. Day trading on the other hand was much better this time.

Im moving my twitter and telegram to more social ground to discord and hopefully i can drag my other telegram members like sensei ichimokus with me. Come n join!

discord.gg/nwdJ9vM

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Join our discord

discord.gg/nwdJ9vM

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Still plenty of room in our discord!

discord.gg/nwdJ9vM

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As we have said, we are in ending diagonal which is presented in the last moving wave (5th or X sometimes) we have already done 4 subwaves in that diagonal and as you can see on the snapshot below there is 3 clear subwaves in each. All upgoing waves retrace 0.618 and the last one already did that today. now it can move down still but it should stay above 5970 dollars (bitmex). I entered long at 6113 with SL at 5911 (could be higher stoploss but decent RR so why not). Targeting straight to 7500 if nothing occures before that.

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One more thing. If this plays out like this it will change many things. There will be a new triangle and a new upper target. And the 5k? Yes of course we will go there but whats the rush. I still think we go all the way to 1300 dollars but let's not get stuck on that :). I will make a new chart after we are either above 6300 or below 5750

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Here's a sneak peek to new chart IF it starts to come alive:

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There is one alternative count that can take us to 5500.5600 levels before going up above 7k levels. Ive opened this more in our discord but to play this safe (how id do it to play it safe) is to enter long above 6350 but there are possibilities to make money before that to

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Tomorrow at 8:00-12:00 (UTC) we know how this played out. There should be now major happening today

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As i said, nothing major will happen today. So whats my plan for tomorrow at 8.00 UTC (am) when it should start happening? As you know im currently long from 6113-6115 levels from yesterday. I will proceed with minimal risk but still maintaining good gains. To the plan:

1. I will close my long at 6180-6190 and exit position when it hits there( probably higher) tomorrow at 8.00 utc(am).
2. I will put Sell stoploss at 5999 AND Buy stoploss to 6350. Which ever triggers will define the direction.
3. If 5999 triggers the target is 5500
4. If 6350 triggers the target is 7500

Its possible that only number 1 will happen tomorrow morning at 8.00 and we have to be in unknown state until sunday to proceed with number 2.

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Up we go :D. Making a new chart tomorrow when i see where we are. Currently long

JoppeJoppe

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