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Adjusted Bulls Strike backApril started !! With so many harmonics and possible Circle Fibs It was hard to get what would be the bottom with estimates varying between 6.7, 6.6 and 6.5K. My "first" estimate was a long time ago for 6.5K, you can search on my ideas for that, but with market dynamics I really thought It would "forget" old estimates and revert/bounce on a recent estimate. It is always hard, but this time several whales and very big volumes come into action. Let's see how this unfold and hope this is definitive this time.
BITFINEX:BTCUSDLong
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Daily Bullish View - "The last hope"Looking at Daily you can see the last attempt to return to mean was rejected but crucially no new low was made. So there is still a chance market could return to mean to test it from the downside and that's the 9.2K bull target last hope. But a new low could be in progress so this a matter of risk reward, you can set a ratio high enough that you will loose near to nothing and still have a chance to revert operation in case of failure. Always use a stop loss, with a preference for a trailing one. Failure to go long here would be devastating without a stop. On the inner 1H TF crossing the MA50 will be decisive and mandatory for a bull run:
BITFINEX:BTCUSDLong
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Bullish View 10K 6 daysBTC got to our target early than expected so I have used the wrong circle extension and that happens as tracking time is very hard. Now there is a battle on 8K where it can go deeper into 1.0 Fib (7.8K) or resumes bullish from here. If it resumes from here our next target is 10K in the next 6 days with good probability to go 11.1K as well. But if it goes to 7.8K that bull target would need a review. So this is the update of today, targets on chart as always. Don't take this chart strictly as is, just a basis to setup your risk management !
BITFINEX:BTCUSDLong
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2
Triangle formationBTC got into a triangle formation. Because there is no triangles in circles our perspective can only show possible breakouts. Inner TF shows bearish while outer ones shows both, so it is hard as always to predict where it is going. This is my opinionated view where I think it will be more harmonic and healthy for it to go short a bit before going up. How do you setup your risk management is up to you according to your risk taking profile, so this is just some base where you can think about your stops and take profits.
BITFINEX:BTCUSDShort
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Wave 3 ?BTC got a bit short but not enough to show a bear market, instead it is mounting a pivot on what looks like the start of a wave 3 inside a big larger wave 3. I am putting together both bears and bulls target and that's not about getting right whatever market go. I am not here to tell the future, this is about a setup perspective where someone could setup a trade with risk management and profit on the long term. But it is always a pleasure when you get a perfect prediction both on time and price as it shows your methodology is on the right direction. Sharing a perspective is not about being emotionally biased to one side and be "enemy" of the other side. This is an emotionless business !
BITFINEX:BTCUSD
by bitcoin
1
Fine Adjustments heading to 6.5KMarket is a dynamic living thing, so you need to adapt and adjust in order to remain relevant and accurate, so this is some adjustments to get a higher resolution prediction. BTC got to the 0.786 Fibonacci extension as planned and there is still the 1.0 at 6.5K which makes a double confirmation with our long standing inverse Fibonacci technique pointing to 0.0 (6.5K). Also adjusted Circle Fibs with other harmonics in order to get a better time prediction for our milestone target at 6.5K. On this idea I will focus on a bearish perspective as long planned but I will not discard a bull run from here, I will plot another idea with a bull perspective so this one don't get too heavy to read.
BITFINEX:BTCUSDShort
by bitcoin