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Bitcoin will blow people awayHey whats up traders/investors my name is Dalin Anderson. I see a great long term buy down here with cyclical timing in the markets. nobody knows what the exact low will be for price but I see only 2 wave counts in the correction. 1 = wxyxz correction and wyx correction (bottom in at 3.2k) 2 = Large ABC correction and death wick to 1.2k I'm investing long term all through this corrective movement and think its a very large bear trap. if we reach 1.2K I will buy more BTC. if we remain above critical support my buys will profit further. If critical support fails 3.2k to 1.2k is a great r/r for small shorts as a hedge in all of this. These are my thoughts! Stay healthy and stay profitable
BNC:BLXLong
by High_Altitude_Investing
10
Bitcoin: Elliot Wave Supercycle Wave III Incoming?Hi folks, i have been around here for around 3 years now (yeah, started early 2017 :) ) and i have decided that the time has come to publish my first analysis. Before i start i want to share some thoughts and fundamentals, how i got to this analysis: As the title tells, i am using a different foundation for my elliot wave count than most of the others i have read from: I think we are in a supercycle wave II, while most are counting it as supercycle wave I, with wave 4 as a possible triangle. This was how i was counting not so long ago. My main problem with this count is, that every source i found to this, starts counting in early 2012. But Bitcoin has been traded before (Mt Gox). This means a lot of data on charts provided by TV is missing. Starting the count in early 2012 gets to a currently building wave 4 in a supercycle wave I. But if you take charts from Mt Gox into account, starting in 2010, you will see that there is one more wave, which i think is the real wave 1. It started august 2010 from nearly 0$ to 20$ in mid 2011. Then it corrected into late 2011 / early 2012. AND this is where the bitstamp chart starts! Another reason why i think we are in wave II? The timeframe: Bitcoin went up to 20000$ in roughly 8 years. Since december 2017 it is in a correction, for around 2 years. This relation would fit into the bigger picture. Now for those not familiar with elliot waves, i will try to explain in short how it works. If you know enough about it, just scroll through this paragraph. An elliot wave cycle consists of an impulsive movement (1,2,3,4,5), followed by a corrective movement (A,B,C). Each wave consists of impulsive and corrective subwaves and so on. The whole idea of the supercycle wave II started from the following analysis: I think the movement of Bitcoin since december 2017 until now is a so called flat. A flat is a corrective movement showing a 3-3-5 structure. Wave A : corrective (A,B,C) Wave B : corrective (A,B,C) / triangle (A,B,C,D,E) Wave C: impulsive (1,2,3,4,5) / Ending Diagonal Triangle For an easier understanding i have split the chart above in 3 parts, each for one wave of the flat: Wave A: This picture shows wave A of the overall flat. It is divided into 3 waves (A,B,C), which go together as a zigzag . Zigzags are corrective movements showing a 5-3-5 structure: Wave A : impulsive (1,2,3,4,5) / Leading Diagonal Triangle Wave B : corrective (A,B,C) / exception : triangle (A,B,C,D,E) Wave C : impulsive (1,2,3,4,5) / Ending Diagonal Triangle Wave A is a leading diagonal triangle (waves 1 and 4 are crossing, which is only allowed in LDTs). Wave B shows a triangle (A,B,C,D,E). In this case wave E is building a triangle ((A),(B),(C),(D),(E)) in the triangle. This is kind of a textbook pattern. Wave C shows an impulsive movement (1,2,3,4,5) and hereby completes the zigzag . Wave B: This part is the main difference to any other analysis i have seen: Most of them count it as an impulsive movement, which i have done, too. When i was counting in 2019, there was this huge formation, which i couldnt really integrate into my count. But back then, everybody (including me) was so damn bullish , that it simply HAD to be impulsive. Moon incoming! Discussion over! As i went through it again, i recognized that this formation could be a running flat, which would mean the following possibility: It is not impulsive, it is corrective. Lets look at the chart: a 3-wave structure fits much better with this one big formation in the middle. The wavecount underlines it: its another zigzag . Wave C: As explained earlier, a flat alway ends with an impulsive movement (1,2,3,4,5). Alternatively it could end with an Ending Diagonal Triangle. In this case i think it could be an expanding one (mostly the occur as contracting EDT ). These consist of 5 waves (i,ii, iii ,iv,v,) but with a 3-3-3-3-3 structure, which means all waves are corrective ones. As you can see, the 5th wave of this expanding EDT is in the making. We are about to see one more leg down as Bitcoin is currently building a "bearflag" which is a triple-three in elliot waves: 3 corrective patterns in a row, as i am showing in this analysis: In comparison the above means, that Bitcoin should soon enter the next Bullcycle (wave III). The following picture should just give an impression of how this should look. Wether the arrow is showing an exact movement im expecting, nor is III showing the target i estimate, which is much higher! Thats it so far. Hope you guys like it.
COINBASE:BTCUSDLong
by freeman2587
Bitcoin: Triple-Three nearly finished!Hi guys, i am preparing for the last short ill take in the next months. The current „bearflag“ is a triple-three with only one more leg up (wave C completing wave Z). Entry point around 8000$. This is a nice setup for a shorter term trade. BUT be careful as this should end the bearmarket!!! Check out my related idea, showing the bigger picture since the the all time high in 2017. This is no financial advise. Always do your own research! Stay healthy and good succeed!
BITMEX:BTCUSD.PShort
by freeman2587
4
Link EW ProjectionVery likely we'll see 4.27, as it is a measure move of the bull flag, and the 1.618. 4.20 is also resistance though- wick of day after ATH. Eyes set on 3.79 for re-entry/ adding to position. Little resistance on wave 5, likely to surpass ATH. If it goes above the 1.618 without a retracement, could go straight to $4.50-$5. Funding ends in 1h, could see some profit taking of longs and entry into shorts. RSI daily resistance at 85 and 89, could see those levels before a retrace Oh and a message to my followers, the moon phases indicator on tradingview is being weird lately, the full moon was on the 9th but it did not show this cycle until yesterday. If only tradingview had a way to create data feeds without a single point of failure... Please don't forget to leave a like! Love, -Etch
by Etch1234
6
BITCOIN WILL BE IN UPTREND FOR NEXT TWO YEARS- FRACTAL AND EWbitcoin will remain bullish for long term IF it can hold 4800 BUllISH scenario -according to Elliot it can be 5 wave impulse and 5th must be completed -according to fractals we will have at least 3 years uptrend stop lose= close weakly below 4800 targets: end of 2020: 20000 end of 2021: above 100000 Bearish scenario(low possibility) it can be a big ABC wave and it is in wave 2 this scenario will be confirmed if it go to below 4k and we will NOT see 20k Do not forget stop lose in any trade. it can save you... LIKE and comment if this analysis was useful for you thank you
BITSTAMP:BTCUSD
by sobhan.ashkezari
1
Bullish Elliot Wave FormingLooks like an Elliott Wave is forming. The Fib didn't look right using that initial highpoint. But moving down to the next high placed everything where it made sense. I'm pretty sure the price was supposed to drop, but a whale entered the market and shook some things up. Sad. I was hoping to rebuy at 6800. If wave point #2 should somehow fall below #1, the wave is invalidated. If wave point #3 fails to rise above #1, the wave is invalidated. If wave point #4 falls below #1, the wave is invalidated.
BITSTAMP:BTCUSDShort
by Danzo_