Bitcoin should find a top in the following days.This trade idea was shared with all the members in my group. It could have been you!
Bitcoinelliottwaveanalysis
BITCOIN. WHAT CAN WE EXPECT THIS WEEK?Hello traders, and welcome to this crypto corner, I hope you had a wonderful week.
from our last analysis, we expected btc to make a retracement from 10k region to the upside around 11k region, which we can see on the chart..
so, what's next for bitcoin?
last week if you can recall that after the wave 5 truncation, I started labelling a wxyxz correction. initially, I like to start my analysis with letters. then when the move is done, we can adjust the symbols.
what matters really is not the symbols, it's the direction of the market.
imo, I think we started a 5 wave impulsive move to the downside from mid august after the 12.5k huge resistance. I'll adjust the symbols once the move is complete
what do we expect now on bitcoin
we expect a move to the downside, a big one, you know I think things can go real south in coming weeks.
is 9k possible? Yes... oscourfe.....lol
is 8k possible? depends, if traditional market experience huge losses in coming weeks.
now, I'm sure you're about to ask is 7k or 6k possible? well maybe, maybe not. let's focus on the move to the downside, and I'll be updating you as we move
follow me, and let's take profit together.
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10k-10,5k The next attempt may be useful10k-10,5k The next attempt may be useful
I simulated the possible approach and the overcoming of the 10k wall. I hypothesized the movement of the trend based on the behavior of the previous wave and on the basis of more or less evident supports and resistances.
Given the fear and skepticism, it is likely that you have a new 10k approach, with immediate sale (1), (2) immediate retracement around 9.9 ÷ 9.8k USDT, and new impulse (3) not too marked to cautiously approach 10.5k USD and then go back one or two% points before hitting 10.5kK USDt.
Obviously my simulation is rialsista. Everyone is good at going back.
The suitable image performs the above analyzes.
BITCOIN: SUPPORTS AND RESISTANCES (Major from 14k to 6,5k)BITCOIN: SUPPORTS AND RESISTANCES (Major from 14k to 6,5k)
Looking forward to the next wave. The key level is close and reported on the waves (VI).
BTC - probably a good time to exit - Last Point for Liquidationsimple head and shoulders pattern, this is last point for liquidation. probably a good time to exit your position. not trading advice, but its so obvious.
My bitcoin/usd longterm predictionBitcoin has finished the correction from the high of 13800
on june 2019 and is ready for a new bull move.
According to my wave system the waves will form as shown
on chart.
Wave 1 is going to end between $8000 and $9000.
Wave 3 is going to end between $13.100 and $15.600.
Wave 5 is going to end between $24.500 and $30.000.
As to the corrective waves 2 and 4
i am going to give you targets after
bitcoin reaches each target first, wave1
and wave 3.
After that, bear market again as usual.
risk disclaimer
This prediction is based on my personal trading strategy and this article does not suggest you to make any trades. I am not responsible for any future losses using the information above.
BTCUSD Elliot Wave 12345 ABC with bullish and bearish ScenariosGreetings everybody here's my analysis on BTCUSD. I have alternate possible Elliot counts as well as bearish and bullish scenarios with some of my fundamental views and thoughts behind Bitcoin and the current state of the financial markets.
For those too lazy to watch through, my primary count leads me to believe that this current dump is the possible end of corrective wave C.
If we hold 6k support we should move back up to the upper weekly trend line of around 9k and then we will have to see how price reacts at that level. If we cannot hold 6k support we are heading to the 49xx region and then if we cannot hold that the final support zone will be between 45xx and 32xx support zones which is confluent with the bottom weekly trend line and 78.60 fib retrace of previous bull run.
Key points to take from this is that we could potentially have an amazing buy opportunity on the horizon in anticipation for the halvening and not to panic.
Happy Trading :)
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Trading Bitcoin | Buy Orders | Elliott Wave (Mar 2020) - Part 3Intermediate (2) (green) Structure - Zig-Zag
Leading diagonal in Minor A (red).
Running Flat in Minor B (red).
Impulse in Minor C (red).
Intermediate (3) (green) - Expectations
Bullish Impulse, Extension in a Rally.
Technicals - Favorable Details
- Descending Channel within a Complex Correction
- Bearish Divergence at the termination points of Minor C (red)
- Potential Hidden Divergence at key Fibonacci Retracement levels.
- Bull-Flag Pattern in Intermediate (2) (green)
- 61.8% Fibonacci Retracements of Intermediate (1) (green)
Low risk Long Position on Bitcoinas you may remember i said that i see a flat correction in bitcoin.
there is different scenarios where the 14k top was end of wave 5 or wave 3. in this stage it does not matter.
the only thing that matters we completed a flat correction and now as i have shown you in the chart, started a new impulse wave as wave 1 or A and a 2 or B correction and potentially started the next impulse wave which may be a C wave or 3 or in a larger scope wave 5. so the wise thing to do is that: Long now and put a stop loss just below 61.8% of wave 1. it would be a very very low risk trade.
have fun with this trade
stay tuned
Near the buy zoneI drew a line in red, it is important because it connects the ending point of wave 1 and wave 3 and respectively there is green line parallel to red line but from ending point of wave 2
These lines are drawn professionally and are not simple channeling lines. So draw it for your self it is going to be a significant line in the future.
Back to elliott, i think we are in a complex corrective wave and i should ask, where is the best place for this kind of corrections ? The answer is wave 4
I did a lot of time in chart and i realized that this is most correct way to count. And i think we are not yet completed the 5 wave pattern and we are in wave 4.
So i think there is two options now.
1-we are forming a triangle
2-we are forming a complex WXY or WXYXZ
But also there is a chance to form more complex forms of correction or starting a new motive wave toward the downside but right now i dont see anything like that so i leave it there for more price action to have, to give a thought
Have fun
Stay tuned
