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Triangle Wave

BTC ... the final drop???Hello everyone. I thought I'd start a new idea ... as this could be the final drop ... I do hate saying "final", but things are setting up for a bottom retest. Let me explain. For over 2 months we've been stuck below 6.8k ... aside from one crazy wick due to tether devaluation on 15 Oct, which I am ignoring. Although this in itself is not really a big deal, because we've similarly held above 6k over the same time period ... we could call in neutral ... what it has done is allowed BTCUSDSHORTS to close/cover and at the moment (Nov 14) it sits close to an calendar year low. What this means is there's MUCH shorts volume free to enter ... and when the momentum gets going, there could be a significant sell off. Secondly, this triangle wave (shown as a red ABCDE) seems to be done. We now have a big red daily candle. E wave was a bit truncated, but not by much. If we crack 6295, then it's a question of how low will it go. I see a retest of 6100, 5985, 5755 and then 5400. I would be surprised if it goes lower, and technically, it would be in free-fall below that ... breaking a 3 year old bottom trend line. Yes, we would likely stop at key points like 5k, 4.5k and 4k ... but really what I'm saying ... as much as I'd like to buy BTC at 4k ... I am trying to be realistic ... it probably won't get there, and certainly not in one go. The other possibility is we test 6300 and then get a bounce. So far, judging by the size/momentum of the drop ... I don't think so. Safe trading. Remember only a fool relies on one possible scenario. Do not use this for trading decisions, investments, financial decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
32
BTC ... the stage is being setupHello guys, been a while ... so busy, and trying to make some money trading too. It's been tough ... BTC has been in a tight range for a while. This is what I see. I believe these things: - we have completed a 5 wave impulse from when BTC started trading to up to the 20k high. - we have been forming an ABC correction since the beginning of this year. - we are currently forming wave C of that correction and that started at the high of 8500 back on July 24, 2018. - wave C is normally an impulse down. - black wave to (1) is wave 1 - blue wave I show on this chart is wave (2) and it is a triangle wave. Looks like wave E will top out around 6650. - then we start wave (3), (4) and (5) shown in the red wave. This coincides with timing on CBOE ETF decision by SEC, fueled by a likely delay or rejection. - we hit a support line (shown in purple) that has developed for the last (at least) 3 years at 5k. - if the CBOE ETF is approved (unlikely), we stop this impulse down cold and start an impulse up, which is the pink wave. I have a long from 6390 ... will close that at 6645. I will wait to see what happens after that, looking for a good entry to short. Remember only a fool relies on one potential outcome. Do not use this information for trading/investment/financial decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
13
Technical Analysis of USD/JPY (*Sorry for a very bad audio*) It is already past midnight morning here 1:00 am so I'm whispering and very lowering my voice so I won't wake up my family and roommates. And very sorry for the bad background noise, Please use your earphone or headphone. Thank you In this video or recording I show the significant support and resistance level of USD/JPY from 1D-4hr-2hr-1hr-30min-15min-5min-1min I also show the Fibonnacci Retracement and Levels and for the potential pullbacks/consolidation. I show the strength of the trend with my oscillator MACD_Alltimeframes, MACZ_VWAP, DeMarker(14), RSI lower_bar, etc. And Indicator 3 EMA, Fractals, PSAR, EMA BB bands, TUX and Envelope etc. I took alot of seminars and courses in or about trading stocks, indices, commodities, forex and derivatives etc. that's why I know alot of shit. I'm also undergrad of Finance and Economics. And planning to take QuantFinance in future for algorithmic and automated trading. Follow me in Instagram, Twitter, Kik, Snapchat,Facebook, Pinterest and Reddiet: llmichaelinzoll
by razeswag77
2
$ZRX BTC fifth wave push for 80%+ gain at 1:7 risk/rewardLadies and gentlemen, See my related idea links at the bottom of this post. Here we have a triangle pattern that makes wave iv of this wave (iii) we’re in which should finish around the 31K-34K range. We love triangle consolidations because they are dead simple to trade aren't they? Whether you’re a beginner or an expert you can trade triangles no sweat because we know exactly what's going to happen at certain price levels. Let's look at several ways you can trade this: The safest way is to wait for a break-out above 19K. Of course this would put your profit potential of only 63% but hey, that’s not too shabby. The next safest would be an entry above the 200MA on this 4H chart, perhaps at 16500. The most optimal, although a bit risky, would be at 15500. Here your stop is less but you are trading below the 200MA and we might not even get there so we have an opportunity risk (pardon my FOMO) We are right above 15000 and wrong below it, so pick your poison and lets get some gains: Entries: Above 0.00019, 0.00016500, or 0.00015500 Stop: 0.00014750 Target: 0.00031000 Risk/Reward: 1:8 Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe! Kinashi-San *The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
Long
by Kinashi_San
10
WARNING : You will not like what i have to say.Hello guys, a lot of people are asking me for a new chart. I have not a lot of time theses days so here is again a really simplify one. Everybody on tradingview and on youtube have seen the formation of the obvious symmetrical triangle, everyone is talking about this from days now. A magic triangle that will save us right ? BUT, permanent bulls and crypto oracle are missing something. The big deal is the triangle is forming from the FAIL breakout of the first ABCDE descending triangle (Do you remember ? Yes, the triangle who should push us to new high in "NO FUCKING TIME", fractal, en route to 100K, blabla). But the reality is in this case the symmetrical triangle is calling B wave of an ABC major cycle correction. And what's is going on after the B in a ABC ? Yes obviously a C wave. So what the target behind this count ? Well the normal target of the wave C should be under 0$. Because i'm true BTC believer and crypto enthusiast in contrary of what most of people think, i have look for 3 strong support line that could potentially HOLD the market. First one around 4K9 will be an agressive buy for me to play a decent rebound before a new dip. 3K and 1K1 are more strong support. And market should find a bottom on theses ones, but it's way too early to speak about this. Some reliable indicators : Weekly RSI : s3.amazonaws.com Bearish divergence on weekly MACD : s3.amazonaws.com One day this monster monthly MACD need to cross : s3.amazonaws.com Weekly CMF look for a reverse cycle : s3.amazonaws.com We may bounce too 7k8 or 9k to finish the triangle but i would personally take any countertrend trade in this market. My short from 9K8 is doing well, so i'm just patiently waiting. I'm not a financial advisor or a prophet i just draw you the most probable scenario. Do your own research and trade at your own risk ! All crash and correction end one day and i can say you when BTC will find a bottom it will be probably the best opportunity in your life of investor. Have a nice week, Cheers !
BITFINEX:BTCUSDShort
by KassandrA_dotcom
167
BTC ... how low will WAVE C go??From 10k, we are in wave C of an ABC correction (see purple line) ... heading to the lower line of the triangle .... completing cycle WAVE E (red line). The ABC correction is comprised of a 5-3-5 sub wave system. Renko diagrams support that we have completed wave A and B of the ABC taking us to the bottom of the triangle (see my previous idea). It's possible that wave E extends past the bottom of the triangle, and there are three key support points, 6.425k, 6.00k and 5.45k. Plotting the impulse wave that makes up wave C gives clues to the bottom ... and 5.45k is possible. I won't get into much more detail, for fear of confusing everyone ... but my main point is, I don't think this drop is anywhere near over, unless massive manipulation steps in. To invalidate the continued drop, we need to really go above 8100 points ... while dropping below 7200 will confirm the continuation of the correction. Those are the key levels to watch. Anything, in between is gambling, with the bias being to the downside. Remember only a fool relies on one potential outcome. Do not use this info for financial decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
11
BTC ... does Renko hold the key to unlocking the wave count?Hello everyone. So there's been much deliberation over the wave count. Certainly the drop from 10k has had a few minor bounces, and it is hard to distinguish what is really completion of a wave ... which obviously impacts the wave count. So this morning I switch to Renko bars ... looks clear as a sunny day to me. Up to now, over the past 2 days, I've been wondering if we are forming a wave 4 now ... but I don't like what I see ... we are stuck range bound, no real recovery (I expected a bounce to around 7800 mark. The weekend hasn't provided any major support for the bulls, maybe a little rest (equally for bears!). Renko makes it clear ... we are technically still in wave 3, no confirmation of wave 4. Now, it could be a start of wave 4 ... but we have NO confirmation. That means, it's wave 3 until we have confirmation! So what can happen? Let's say Asia markets open up on Monday and they rally it up, thinking we have a temporary bottom .... then, we can welcome wave 4. But let's say the see weakness, and after closing shorts at 72XX, they decide 7600 is a great place to open shorts again ... continuation of wave 3, and the target is there, the bottom of the triangle at around 69XX. That would mean we should still form wave 4 up and another wave 5 down!! So we could have an extended wave E, past the bottom of the triangle, to do a double bottom test of 6425 (Bitfinex). So, there you go ... Monday morning in Asia ... watch it closely. Remember, only a fool relies on one potential outcome. Do not use this information for financial decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
11
BTC ... An open mind to enlightenment!Dear TV friends. Most of those following me will know I have been showing this path for over 1 month. I've adjusted here and there, but the perspective remains the same. For those new followers, please go and look at my previous ideas and please don't forget to like the idea, if you agree! I'm going to stick my neck out and say waves do not fail, at least not very often. The challenge with waves is interpreting them. Is that little rally considered a wave, or is it just noise? I believe most of the confusion comes when we mix a wave from one time frame (say one that counts on the 15 min chart) with another (one that is much larger on the 4h or 1 day chart). You see a grand wave on the 1 day, will be made up of smaller impulse and correction waves. Generally when I'm on a time frame, I like to see that the waves I count are about the same magnitude of a previously completed wave. OK so now for some TA, based on of course EW theory, as well as Fibo levels and Ichi Clouds. You will see two grand waves, one in Red and one in Blue. The Red one paints a BEARISH scenario, and the Blue one a BULLISH scenario. To summarize (but see previous ideas for more detail), the red wave assumes from the 20k high we started a triangle wave, and now we are forming the final wave E to the rock bottom price of BTC going forward. The blue wave assumes we completed a running flat ABC correction to 6.5k, and we aren't going there again ... and in fact we started wave 1 of a grand impulse from 6.5k to 10k, and this is a normal retracement wave 2. Wave 3 would therefore be an exciting bull run up. Hard to believe in this bear market, eh? But don't forget how less than 10 days ago we were in full bull ... and many believing we could go to 11.7k. So remember I said, grand waves are made up of smaller waves. The GOLD waves I show are the waves that forecast the RED grand wave, and the PURPLE waves I show are the waves that forecast the BLUE grand wave. OK, so here's how I see things possibly going: BULLISH SCENARIO (BLUE/PURPLE). This assumes we have completed an impulse wave down from 10k to 7.9k) and we are done with Blue Grand Wave 2 ... that means Wave 3 is starting, and if that is the case ... you probably don't want to miss it. It's possible that the impulse still has a little way to go to 7.7/7.8k, as I know many people are waiting for that price point. BEARISH SCENARIO (RED/GOLD). This assumes those bumps up and down on the purple wave is just noise, and BTC has only completed a long gold "a" wave now (from 10k to 7.9k maybe down to 7.8k). That Wave A correction is made up of a smaller impulse wave (the purple one). A rally can be expected to form the gold "b" wave. This will eventually stall and start the gold "c" wave. That would take us down to the bottom of the triangle we have tested at 6k and 6.5k ... and at the moment the target is 6.9k - 7.0k (see bold green trend line at bottom). But WAIT, there might be more! Wave E's often extend ... and what if the golden ABC correction is actually a golden impulse wave (5 waves)??? Well then, we could go much lower. The gold impulse could go, as label, from (i-2) to (ii-2) to (iii-2) to (iv-2) to (v-2) and take us down to where I see good support at 5.4k! Note that (i-2), (ii-2), and (iii-2) are the same as the gold ABC, with a continued wave iv and v. So what do we watch out for? Well if this is the Blue Wave, you don't want to miss out on that bull run. So the question for me is how high will BTC climb in the next rally? If it cracks 9k, probability goes up (but still not guaranteed)! If it fails, we confirm the red scenario, and then the question is how low? I have two levels in mind 6.9k and 5.4k. Again, you probably don't want to miss out on the bull action which could follow! Remember, only a fool relies on one potential scenario! Do not make investment decisions with this information. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
6