Ian_Carsen

Ian_Carsen

Looks to be a relatively safe trade to me. If cautious enter at the safety hold instead of indicated level.

Ian_Carsen

Expect this trade to go deep within the indicated range. If it hits the 5 min safety level, keep a tight target as indicated. If it doesn't reach this lvl, holding for a bigger target may be possible!

Ian_Carsen

BTC has been ranging, there should be a long trade until the indicated target, or at least until the indicated SOR. We are likely to see a return to the bottom of the box here. There is a possibility of a quick plunge down below support at some point, however, I think that bull market will continue, and such a decline will be relatively short-lived.

Ian_Carsen

One more possibility other than a full-out correction is a quick, nasty plunge to one of the indicated targets below, likely the red line. The set-up is definitely there. If the current reversal doesn't play out (and weak reaction is making it suspicious), some very big volatility could be in store! Careful out there.

Ian_Carsen

BTC should either reverse right now where it is, or a bit lower at the red dashed line--otherwise we may have a deeper correction on our hands. Thus this is a good trade. If reversing soon price should eventually go back up to ATH and would still be in an uptrend.

Ian_Carsen

Sui has begun to "ladder" on both sides, resulting in a contracting consolidation. The trade indicated should safety make it to the first indicated target! Target should be based on your risk tolerance.

Ian_Carsen Updated 

This should be a fairly safe trade. Stop can likely be placed closer.

Ian_Carsen

This consolidation is a bit confusing from an Elliott Wave perspective. My current working hyposthesis is we are in a giant (somewhat enlongated) running flat, with waves A and C being zig zags, and B being an expanding triangle. This being wave 4/5/5 for the cycle. Overall, on higher time frame though, a running flat seems to appear. Correction is not complete...

Ian_Carsen

As you can see from the monthly candles, it is commonplace for the middle of a move up to have a monthly 'doji' type candle as we will probably have here this month. I think the probabilities are BTC closes the month similar to the other times in history, and then in January begins a nice monthly candle will be seen, just like before. There is a warning...

Ian_Carsen

Interesting option, looks to be a strong UR, strong support on multiple TFs which should have a bounce!

Ian_Carsen

Given the overall picture of this coin I think it's possible there is another move up from here. Honestly though the chances are low. If there is a reversal, protect your position and don't hesitate to scale out at more realistic targets.

Ian_Carsen

For all intents and purposes it seems BTC has at least somewhat resumed moving up after a subtle consolidation period. I'm still not convinced the explosive move is yet upon us. The indicated zone is the first place where I'd look for a long trade at the moment.

Ian_Carsen

This is just a scalp due to some higher TFs (unjustified) being in play. Nice local ranges though!

Ian_Carsen

This is a high flyer! It might not get to the indicated entry, and of course could bounce further than the target.

Ian_Carsen

As mentioned in my last "Bitcoin Overall", I believe price will turn bullish again in a week or two. I expect one more move down from current levels to somewhere above the trend. There may be a (risky since against overall trend) short near current levels.

Ian_Carsen

BTC is still in sideways corrective phase as I've mentioned. The structure of which has become more clear over time. If my analysis is correct, BTC will finish its corrective phase in the 3rd month of December, with visible appreciation in the 4rth month. Given the type of triangle we have according to EW, we should be able to take a (risky) short in the near future.

Ian_Carsen

I just posted some thoughts on my Elliott Wave interpretation of the current BTC price action. Instead of 2 zig-zag like patterns we may have 1 triangle, which should be confirmed if the price retraces from here. This would be a good place to take a long most likely. (I am relatively new to Elliott wave theory but have found it helpful in my trading thusfar. Thus...

Ian_Carsen

Although a "throwback" is possible, moving on to 3/3 possible Elliot Wave corrective structures, there's a good likely hood we're looking at the start of the move to 118K. (I am relatively new to Elliott Wave, but have found its predictive power very helpful. I may not have these corrective structures labeled properly) When I have more time I will refine the chart