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Possible Scenarios for Bitcoin#BTCUSDT #Binance #4HR #Midterm #Elliottwave - It’s been a while everyone. Today I’ve brought up some of the possible scenarios for Bitcoin based on the Elliott wave Theory. EW traders can refer to my insights and perspectives on midterm trends and major supports/resistances. - Out of countless Elliott Wave counts, I’ve summarized those that are relatively more plausible and credible. All the cases here were interpreted assuming that the all-time high at 65K(on Binance Chart) is the start of a corrective waves, either as 5-3-5 corrective wave or 5-3-5-3-5 impulsive wave(regarding it as a wave A). - First of all, let’s look at the scenario A. The swing low formed at 7/21 has been considered as the end of the 5-3-5-3-5 yellow bearish impulsive wave, and thus a whole green wave A. Then the bullish wave structure after that low can be interpreted as green wave B. In this case, Bitcoin is going through yellow wave B of the green wave C and their target prices are 50.8K~52.0K(valid until 8/18) and 53.3K~54.5K. - Similarly, scenario B also indicates that Bitcoin is forming green wave B currently, but is a bit different that the start of the yellow wave A is at the low formed at 6/22 rather than 7/21. If bears become more dominant from this current price, we can target yellow wave B within the green wave B, at 36.5K~37.7K(valid until 8/29) and 32.8K~34.0K(valid until 9/20). - Scenario C is one of my bearish counts, viewing that yellow bearish impulsive wave is still ongoing. Adapting the Elliott wave rule that the micro wave 5 of the macro wave 3 cannot be truncated, I have comprehended the low at 6/22 as the yellow wave 3. Hence, the upward wave after becomes yellow wave 4. In this case, we have to make sure that the recent high doesn’t overlap the end of yellow wave 1 which means if Bitcoin succeeds to make higher swing, this counting becomes invalid. The yellow wave 5 can be targeted at 32.8K~34.0K(Valid until 9/20) and 25.6K~26.9K. - My bullish scenario is the last one. Here, I have considered the current circumstance that the green ABC corrective wave is done and we are now on a new bullish impulsive wave. Whether the end of the green wave C is the low at 6/22 or 7/21, the bullish wave structure can be interpreted as an impulsive wave. In other words, Bitcoin is on yellow wave 3 or 5 of the green wave 1. If Bitcoin shows some bullish movement, the target prices of the green wave 1 are 50.8K~52.0K(valid until8/18) and 53.3K~54.5K. On the other hand, if we observe failure of the swing high, then green wave 2 is to be targeted at 36.5K~37.7K(valid until 8/29) and 32.8K~34.0K(valid until 9/20).
by Tommy_Trader
2
Possible Scenarios for Bitcoin#BTCUSDT #Binance #4HR #Midterm #Elliottwave - It’s been a while everyone. Today I’ve brought up some of the possible scenarios for Bitcoin based on the Elliott wave Theory. EW traders can refer to my insights and perspectives on midterm trends and major supports/resistances. - Out of countless Elliott Wave counts, I’ve summarized those that are relatively more plausible and credible. All the cases here were interpreted assuming that the all-time high at 65K(on Binance Chart) is the start of a corrective waves, either as 5-3-5 corrective wave or 5-3-5-3-5 impulsive wave(regarding it as a wave A). - First of all, let’s look at the scenario A. The swing low formed at 7/21 has been considered as the end of the 5-3-5-3-5 yellow bearish impulsive wave, and thus a whole green wave A. Then the bullish wave structure after that low can be interpreted as green wave B. In this case, Bitcoin is going through yellow wave B of the green wave C and their target prices are 50.8K~52.0K(valid until 8/18) and 53.3K~54.5K. - Similarly, scenario B also indicates that Bitcoin is forming green wave B currently, but is a bit different that the start of the yellow wave A is at the low formed at 6/22 rather than 7/21. If bears become more dominant from this current price, we can target yellow wave B within the green wave B, at 36.5K~37.7K(valid until 8/29) and 32.8K~34.0K(valid until 9/20). - Scenario C is one of my bearish counts, viewing that yellow bearish impulsive wave is still ongoing. Adapting the Elliott wave rule that the micro wave 5 of the macro wave 3 cannot be truncated, I have comprehended the low at 6/22 as the yellow wave 3. Hence, the upward wave after becomes yellow wave 4. In this case, we have to make sure that the recent high doesn’t overlap the end of yellow wave 1 which means if Bitcoin succeeds to make higher swing, this counting becomes invalid. The yellow wave 5 can be targeted at 32.8K~34.0K(Valid until 9/20) and 25.6K~26.9K. - My bullish scenario is the last one. Here, I have considered the current circumstance that the green ABC corrective wave is done and we are now on a new bullish impulsive wave. Whether the end of the green wave C is the low at 6/22 or 7/21, the bullish wave structure can be interpreted as an impulsive wave. In other words, Bitcoin is on yellow wave 3 or 5 of the green wave 1. If Bitcoin shows some bullish movement, the target prices of the green wave 1 are 50.8K~52.0K(valid until8/18) and 53.3K~54.5K. On the other hand, if we observe failure of the swing high, then green wave 2 is to be targeted at 36.5K~37.7K(valid until 8/29) and 32.8K~34.0K(valid until 9/20).
by Tommy_Trader
Would have been an easy 1:8 RRR but...BTCUSD is already a trending market, it's in an uptrend already, the most we can get from a sell inside this week is a 1:3 at the most which if we sell, price could get to $38,500 from this current price BTCUSD is currently trading, which is just above $41,000. This is not trading advice, it's just my idea for now. The signal to sell might be given when price meets certain conditions so, keep an eye out on my channel. Breakdown of my idea or rather, reason behind my sell idea: 1. Price has been divergent for days 2. Price is overbought. 3. Price seems to want to cover up imbalances from it's current buy momentum. 4. Price has hit our Order block. Put plainly, it has hit a confluence which was a previous high in H1. 5. A bill has been passed to (in layman terms) get taxes from crpto's to fund government investments (to understand how this can affect Bitcoin, make your own research). 6. Price needs to test our 200 EMA before either bouncing off of it back to the upside or, get to our 1:8 RRR earlier stated. If you agree with this idea, let us know down in the comment section below, like, share with your family, friends and fellow traders and most of all, follow this channel. Cheers !.
BITSTAMP:BTCUSDShort
by LaBOSS_FX
1
EURUSD Possible Long-Term Downside ObjectivesSeen on the Monthly Timeframe, we see that we have created an M pattern in the past, where we retested a strong Bearish Orderblock before melting to the downside. Now we have created this SAME M Pattern, and currently testing a big Bearish Orderblock once again. The market tends to repeat itself. We also have lots of imbalances to fill, as well as possible mitigation of the Bullish Orderblock where we could potentially have a rejection up again, and Sell-side liquidity all the way down as a double bottom which the market loves to come to, take out all the liquidity and then possible reverse. We may have a long-term bearish bias for the EU. + The USD will go to sh*t ... Targets: - imbalances - Sell-Side Liquidity - Order block
Short
by Bastianelton
2