Flux | Back To Basics (470% BU-Pot.) +Crypto Market DynamicsHello my dear friends, we are going back to basics looking at Flux, as I warm up, we can go deeper and deeper into the charts and trading psychology.
The drama is already on. The week starts now and we already closed last week with strong negative news and a potential catalyst for the major correction that is awaiting Bitcoin and the Cryptocurrency market. The correction has been ongoing for more than five months now but the last portion of it is not over, at lest for the crypto-giants.
Expect more astonishing developments and panic to set as the major low is hit in September. Once the correction is over, so will all the negative events. Positive news and events will start to develop before the market sentiment changes. Let me explain.
The last portion of the correction will create a strong feeling of doubt, fear and uncertainty across the market, this is normal. Once the bottom is hit the sentiment will not change over night. We will see, hear and experience positive news and events but yet people will remain negative and doubtful. After a while, say 1-2 months of positive developments and yours truly cheering for the market, the sentiment will start to change and light will shower us. So the bottom will be far gone by the time people change back to a positive mood. If you are prepared, you can buy when there is fear and doubt, aka., at the bottom.
When the right time to buy Bitcoin comes, it will feel like the worst possible decision ever as everybody will be panic selling. That's the best time to buy. The best time to sell is when new All-Time Highs are being hit, people are euphoric and ultra-optimistic. Think of March 2024 when and where everybody was calling for $100,000 the next week. It's been more than 5 months and the only thing happening is lower highs and lower lows (a downtrend).
I even had people yelling at me and insulting me because I was obviously deceiving people when I was warning them of the impending correction. People would say it was "the start of the bull-market." This at the top, the literal end of the bullish wave.
➖ Back to basics with Flux
We have the major down-wave on the left. Then a small bounce in October 2023 ending March 2024, and then the correction. Notice that the second —current, down-wave is much smaller than the first one. This reveals that the bearish momentum is over/done, lost.
As bearish momentum wanes, we get the start of a reversal; a bullish wave.
Thank you for reading.
Namaste.
FLUXBTC trade ideas
✳️ Flux | Elliot Wave Theory 101 Coupled With Buy & HoldI am looking at a flat correction, 3-3-5. This is the way to use the Elliot Wave Theory system simplified. No "theory", not "measuring" by the centimeter the distance of a "wave". Not updating the concept and making it super complicated and useless at the same time but a system that we can use in order to have a better view of the market, in order to spot some good chart setups that we can trade.
If you can spot a five wave count, by zooming out or looking at the bigger picture you can determine what is likely the next move.
Here we have the 3-3-5, a flat, and we have know this to be a correction.
Downward movement —if the correction is over then we can assume that the market will turn.
Ok, we count this just as a single signal and we don't have to trade or make decisions based on it.
Say you spot the 3-3-5 and as the end you get a hammer candlestick, right at the bottom of the trend. The next day you get a full green candle with high volume and now you have a combination of candlestick patterns with Elliot Wave.
Then you notice that the action moved above EMA10 and EMA21 and a clear picture start to reveal itself.
You can even change the chart settings and use the Renko chart and either confirm or negate a change of trend.
All these signals combined can help you improve your chances of success. It is not that the market won't produce another low, a lower low but that you will be right many more times than wrong and that's the goal.
To know the direction of the market, just zoom out or use a higher timeframe.
If the trend is bullish long-term but prices are moving down and you can spot the waves, the end of the correction will lead to the next leg which would be a continuation of the trend. Corrections are counter-trend of course, so any down move as shown on this chart and lead to an up-move when the down move is done.
Let me show you something that happens often... Instead of wave C (Z) ending at the current low, the market can make one more low as in a stop-loss/liquidity hunt even before moving up:
The chart is only for illustration but this can happen.
This is normal of course. As we grow and mature, the markets also grow and evolve.
They become more advanced and more complex, the next generation will have it worse than us because they will have to deal with more data, more shakeouts, more fake moves, more fake signals, failed signals and so on...
If you want to learn the Elliot Wave system, which is a great tool to have, then you need to go to the source. Those people "updating" the system in 200 pages is truly just a bad joke.
You can read the books where Robert R. Prechter Jr. is the editor starting with Ralph Nelson Elliot Masterworks... You read them all one by one; You don't have to draw waves, you don't have to memorize anything, you just have to read. When you get to the last book, you will have the entire concept, the entire system learned with no left brain effort at all. Then you don't have to draw waves nor count waves, you can just look at the chart and having this knowledge, intuitively you make a better choice or maybe even entertain yourself with the predictions, so and so forth.
I can tell you this from experience, the system works great today just like it worked almost a hundred years ago... It doesn't need to be exact, it just needs to help you gain an edge and with this edge you can trade but trading and reading charts is a completely different game.
Be prepared to invest years of your time in this adventure if you want to achieve success.
If you think you can get it done in 2 weeks or 6 months... You will have a very hard wake-up call. When you think you understand the market, everything changes and a new challenge shows up; Overtime you realize it is not about the market but human psychology, personal growth and emotional control.
If you become a decent human being, whatever that means, you can achieve your goals.
If you lie to yourself and blame others for your mistakes, the market will take everything you own.
It will prove you wrong over and over and over, until you accept the truth and realize that in order to grow personally, in order to achieve success you need to take care of yourself, your friends, your family, your home.
Once you have a sane and stable mind, trading becomes as easy as just buying and hold.
Namaste.
Comparison of some Alts with BTC as base pairComparison of some alts with BTC as base shows interesting trend
FLUX is a clear winner growing in strength against BTC:buy and hold
DOGE has started trending up : good to invest
AVAX,LTC,XLM and SOL are falling against BTC: cheap but trend not supportive
#FLUX/BTC - Long - Potential 14.27%Style: SWING
Direction: LONG
Market: SPOT
Risk: 0.25% - 1%
EXCHANGE: BINANCE
#BTC_FLUX
TIMEFRAME: 720
ENTRY: 0.00002387
⎿ TP2: 0.00002713
⎿ TP1: 0.0000255
STOP: 0.00002224
Flux on a tear, massive volume breakout with room in the RSI. Personally taking 100% at TP1 as BTC consolidating above $28k could make a sudden move.
Flux coin forming bullish Gartley for upto 35.50% pumpHi dear friends, hope you are well and welcome to the new trade setup of Flux coin with Bitcoin pair.
Recently we caught more than 80% pump of FLUX as below:
Now on a 2-hr time frame, FLUX is completing the final leg of a bullish Gartley move for another pump soon.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
#FLUXBTC - Long - Potential 96.80% #FLUXBTC provided by the pro trader BlockParty SPOT | BTC
Strategy: Long
Exchange: Multi-Exchange
Account: Spot
Entry mode: Market order in range
Invest: 5%
Exit:
Target 5 : 6486 93.38%
Target 4 : 5005 49.22%
Target 3 : 3983 18.75%
Target 2 : 3641 8.56%
Target 1 : 3467 3.37%
Entry: 0.00003271 ⌁ 0.00003354
Current market price: 3314
Stop: 2675 (-20.24%)
Technical indicators:
24h Volume: 29.69553708
Satoshis: 3323
Massive volume breakout. Still residual momentum and BTC looking like a retrace could give BTC pairs a break.
Trade: FLUXBTC 16/01/2023 12:36
Account: SPOT
Volume last 24h: 29.70 BTC
Volume in buy range: 0.08 BTC
Flux coin forming bullish a BAT for upto 15.50% pumpHi dear friends, hope you are well and welcome to the new trade setup of Flux coin with Bitcoin pair.
Previously we caught more nice trade of FLUX as below:
Now on a 4-hr time frame, FLUX is about to complete a bullish BAT move.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Flux Coin about to complete bullish Gartley for upto 25.50% pumpHi dear friends, hope you are well and welcome to the new trade setup of Flux coin with Bitcoin pair.
Previously we caught a nice pump of FLUX in below setup:
Now on a 4-hour time frame, Flux has formed a bullish Gartley pattern.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Flux Coin formed bullish Gartley for upto 27% moveHi dear friends, hope you are well and welcome to the new trade setup of Flux coin with Bitcoin pair.
On a 12-hr time frame FLUX has formed bullish Gartley pattern.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
FLUX/BTC Hourly Easy Trade 3.9 RRRBINANCE:FLUXBTC has broken above a long descending trend line on the hourly. Watch the video for the details of this easy trade. We are awaiting confirmation. The trade is not on yet. So keep watching this idea by giving me a follow. Also see my previous idea on Flux in Related Ideas below.
You can view this chart here .