TheBitcoinChart

TheBitcoinChart

My primary idea is that bitcoin bounces around 27K and goes up for a B wave and then down again for a C wave but the 4 hour RSI is breaking up and out. Also zooming out to my primary macro count, it is possible that that little abc correction is all we see. The possibility of a large move up is there but not as likely yet.

TheBitcoinChart

I'm watching for a bounce from the 27K level. I'd like to see a 7 percent move up this week in a potential B wave. This may be a nice scalp long.

TheBitcoinChart

I'd like to see price reject from the 28K area and make one more low to complete the A wave. Then a move up for a B wave. If this plays out over the coming week then a nice C wave down would complete the larger correction before a very large move up.

TheBitcoinChart

The move down from the top was strong so it was probably an ''A" wave. 27100 to 26600 should be the bottom of this wave. If price moves up from there in 3 waves to the 29800 level by the end of next week I would look for a short there.

TheBitcoinChart

On the 4hr time frame bitcoin is back at the top of the base channel. 27555 to 27777 are still possible before the move up continues but there is a lot of liquidity above. I'm taking a few days off because I had two small losses yesterday because I was impatient. But thats okay. My risk management saved me and from now on I won't try and trade while helping my...

TheBitcoinChart

Stopped out earlier with a small loss. I'm long again but if 28500 doesn't hold then a quick dip to 28100 is likely. The RSI is finally breaking out so a move up is more likely. Risk management is key. Keeping my loss small is key.

TheBitcoinChart

I just entered long with a stop loss at the local pivot low. On the 3 and 5 minute timeframe it looks like a 5 wave move up and a 3 wave pullback. It is tricky to see but usually when price makes a candy cane shape with a spike up, I count that as an impulse. Just from experience this seems to be the case. I'm taking a shot at it here because I like the risk to...

TheBitcoinChart

This may run up from here. The safe play is to wait until price moves up in 5 waves on a low timeframe and get it long on a 3 wave pullback. Always have a well placed stop loss and low to no leverage.

TheBitcoinChart

Looks like the larger WXY is playing out. Looking for a long once this small timeframe impulse(12345) finishes. It looks like the 4-5 needs to complete. 28800 to 27900 are areas of interest for me but I will wait for regular bull on lower timeframes and a break of market structure and a nice spot to enter long with good risk management. This may be a nice long coming.

TheBitcoinChart

My primary count I posted this morning may be in trouble. It is possible that this is a larger correction and we will see 28K before the big move up. That would be sneaky. This is a maybe for now. Becareful

TheBitcoinChart

I'd like to share how and why I enter a bitcoin trade. I only trade highly likely setups. I'm not a scalper. I'm too busy for that. So, for me this chart today looks really good. There is hidden bull divergence( continuation divergence) and regular divergence(reversal divergence) And the RSI has broken up and out of the down trending channel signaling a change of...

TheBitcoinChart

Bitcoin is young and it is likely that over the next 20 years it has big moves up and down but basically goes sideways and down. I believe catching these macro pivots is essential in this environment.

TheBitcoinChart

This looks great for more upside. As long as 29K holds I expect higher.

TheBitcoinChart

This looks really good. As long as Bitcoin holds 29K more upside should follow. Hidden bull and oversold. A break up and out of the rsi channel would be nice to confirm the move and a back test of that channel would be even nicer. Direction should be clear tomorrow morning.

TheBitcoinChart

I'm always looking for significant pivots on the Bitcoin chart. Last years candle was very significant to me. For the first time ever Bitcoin printed a bearish engulfing candle on the yearly timeframe. As of now I'm looking at this move down from that top to be a 4th wave correction. Time will tell but so far it looks good. It is not likely Bitcoin runs up to new...

TheBitcoinChart

Bitcoin may chop around this weekend before continuing up to 33K to 34K and then 38K before a 20 percent plus correction. If price reaches the 38K level in the next 2 weeks that would be a nice short. Also, if price bottoms about a month or so after that move I would probably take a nice long up to the 50K area. I'm always looking for significant pivots. I'm not...

TheBitcoinChart

My primary idea for Bitcoin is that there is a 3 wave move down from the top (W) and a connecting (abc) wave for (X) Which may end between 45K to 55K sometime over the summer. After this move finishes, I am then looking for a partner leg down in 3 waves for a (Y) This move is commonly known as a one to one correction. This common correction takes place on all time...

TheBitcoinChart

I'd like to see one last push up by the end of the day. Between 31500 to 31700 looks really good. 32200 is possible but not as likely. Over the weekend I'd like to see a 7 percent pullback to the 29K level. And then next week im looking for 34K and then 38K after that over the next 2 weeks. 38K is a great level to have a nice strong pullback from before going up...