DutchStarman

DutchStarman

Short term I think we are going to have to touch the 26.000/27500 area first before we can break the micro trend and continue up to honor the forming bullflag.

DutchStarman

Expecting a correction here but we probably stay within channel, BTC seems to be appreciating TA a lot lately. Possible corrective wave and back up, as freely drawn in the chart.

DutchStarman Updated 

If history repeats itself and we stay in channel, and tether keeps beeing converted to BTC :-) Next stop is probably 5865ish. Í'm going long with a tight S/L for a quick scalp. LONG Might go back up to 5865

DutchStarman

Start buying and go long at 4775 untill 4635, stop loss at 4560 Might be a nice long oppertunity incoming for anice 4%. Buy when the correction is finished, but don't forget your stop loss and take profit at 5665.

DutchStarman

MA's crossing, FIB lining out and a trendline visible. Next stop cloud be 4165 in the 5th elliot wave.

DutchStarman

I'm personally a long term bull, but the whole tether fiasco is starting to become a problem of the same size as was the mt. gox hack back in 2014. The recent news where scientist were able to prove the influence of tether printing and the market inflation is confirming the long time rumors. I believe the concerns about tether are also the reason the institutional...

DutchStarman

We cloud be in wave 5 of a new EW cycle on the 4hr. If so we should beat the high of the provious 5th wave and maybe even get close in the zone of the longer downtrendline. Expect resistance there, could be a good short spot for the short term.

DutchStarman

The way the market moves right now feels a bit like when we were in the 6000/7000 bottom. It seems to have trouble to break below 7000 now and dumps are getting weaker. Lets see how this play out, but for the upcoming week I'm expecting a bit of a small uptrend.

DutchStarman

Expecting heavy resisance at the 7000 level, it might be the new low before we go back into a uptrend. If 7000 breaks expect a new 6450-6750 buy zone to go long.

DutchStarman

We still need to go a bit more down before we can find our way up, but it looks like we are almost there.

DutchStarman Updated 

I'm keeping it really simple. The orange line below is the uptrending support line starting mid 2017. Elliot wave has completed wave 1, 2, 3, 4, 5, and A + B correction wave. We are in a very strong C wave correcting down with a lot of selling power and not a lot of resistance, its almost like if its too easy. Keeping in mind all the good news we have had lately...

DutchStarman

Looking at the Elliot Wave structure we just finished a nearly perfectly elliot wave. The orange line below show the long term uptrend direction starting mid 2017, and have have since hardly ever touched the line. All the indicators are showing a oversold market and we just left behind the problem of another Mt Gox market dump. All in all after this nice dump...

DutchStarman Updated 

Just for the fun of it I draw a line in the uptrend in oct 2017 at the part where the daily movement of the candles seemed somewhat similar.

DutchStarman

Check this out, I copied the trendline that started oct the 12th, right after the bigger pump on october the 11th, and moved the line to the date right after the pump of the 12th of april. The upward momentum and its path seems to follow the same curves nicely so far.

DutchStarman

needs to correct still to 600ísh.. Combined with maybe the news today about the SEC hearing (or the non-news) this direction has a high probability of becoming reality

DutchStarman

This could be a strategy for the larger timeframe. Short time we bounced of the 9250, maybe we go up a bit now but the correction longer term doesnt seem to be over just yet.

DutchStarman

I still feel the downtrend but the EW seems to have been completed almost perfectly. Let's wait for confirmation on the next direction

DutchStarman

Looks like the end of correction wave A, lets bounce a bit before we hit 9410