EW upadate on btc hi everyone .. happy to come back to the business again after long time was away for private reasons ...
so lets begin with our btc moves and i chose the weekly time frame to follow each EW and EMA moves to locate where are we now
so lets get back to the beginning of this year and count each wave
as we all know that EW combined into 5 impulse waves to the upside called (1,3,5) so as (2,4) are corrective waves inside the grand 5 waves
so as we seen first wave was too short which drive the market from 3200 areas into 4300 areas around 1000 pts to the upside followed by a correction wave 2 drive the market into the 3350 ish areas ,, after it market start to be more stronger and pushed up to the 14000 areas with a sub 5 waves inside the 3rd wave on weekly called the wave 3 which done parabolic moves ..
here on weekly we have done the 3rd wave and started the correction waves called the major 4th wave from weekly
and started with Leg A toward the 9k areas and pushed back up again toward 12600 areas to complete the B before we start the last leg down called the C wave which we have done it recently at the 6900 ish areas ,,,to complete the 4th on weekly we have meet all conditions and ready to push back up again to finalize the total grand 5 waves as fibs showing as expected to the 18k areas
for now we need to be very aware from the market and we should know where we have to buy as i will give you some good points i am looking at it
1st buying points : 8550/8600 and the stop would be a 1 day candle at 8500 or below 8500 any time
2nd buying points : 8300/8200 areas and the stop would be 1 day candle at 8000 or below 8000 anytime
3rd buying points if it happen : 7800/7500 and the stop would be a day candle closed below 7200 only
bitmex players can start accumulating btc from 8600/8650 with a 5 x leverage maximun with a total 25% from capital and wait a confirmation to add more above 9k or as per the mentioned points which is buying point 2 .
good luck
HT
