Tommy_Trader

Tommy_Trader

Ethereum I think is one of the coins that have been over-sold in the recent correction phase. We are observing some decent amount of impulsiveness lately after correction. Are we done with a wave cycle? Or do we have few more pumps? Only God would know. But there definitely is a response action that can be deducted and prepared depending on how market tends to...

Tommy_Trader

As we confirm and dis-confirm wave structures, we adjust our targets based on probability. I believe we are on sub-wave 3 of big wave 5. $8,200 is acting as a solid and hard support now as it was a hard resistance before. There is a high chance that we are going to test that $8,200 support region which I would consider as wave 4 which is a correction for on-going...

Tommy_Trader Updated 

I have 2 possible bullish scenarios. The first case, as described in the left chart, is considering on going wave as sub wave B which means we have sub wave C coming. For this case we should expect price to drop to $7,500~$7,700. Assuming that it will drop down to 0.382 fib level of wave 3, we can expect out wave 5 to reach $8,800~$9,200 afterwards. The second...

Tommy_Trader Updated 

There are two possible scenarios. My primary count is as uploaded chart above. My secondary count is considering sub-wave 4 (yellow) as wave b (white). If my primary count becomes validated, we will see bitcoin price drop down to $7,500~$7,700. If my secondary count is validated, we can expect price to drop less, maybe around $7,600~$7,800. If you like my post,...

Tommy_Trader

I have reviewed and updated my wave counts. I am more fonded to this wave structure currently. This is a log scaled 4hr chart. So bitcoin is on its correction for the 3rd wave which I believe will only retrace to 0.382~0.5 ($7,715~$7,383). If it retraces more than $7,483 since 4th wave cannot overlap with the 1st wave, this count becomes invalidated. Also I 1:1...

Tommy_Trader

The first officially validated impulsive wave is now about to get corrected a bit. The 5th wave reached up to 2.618 fib extension level of the 1st wave which is a pretty bullish signal. For right now, it has bounced on 0.238 level. People who has missed their bus waiting for $4,000~5,000 can consider their entry position at this correction. Personally, I don't...

Tommy_Trader Updated 

Just like the chart image below, Many traders' TA shows that the corrective wave will reach between 0.382~0.618 fib level which is around $7,200~$7,600. However, you guys know what Bitcoin likes to do these days. It doesn't want to do opposite of what traders say! So here is other possible scenario. We might actually have finished our correction which only...

Tommy_Trader

Never trust TA from one analyst. Yesterday my short position has liquidated and I lost a lot of money. TA is not predicting future price. It is all about deriving many possible scenarios and prepare adequate response plans. We finally broke the down trendline that has been formed for a very long time. That massive impulsive green candlestick that fucked many of...

Tommy_Trader Updated 

Almost finished with the correction that has been going on for 3~4 months. I have adjusted my wave counts and targets considering my recent validated sub-waves. Here are my more detailed wave counts for the sub-wave 5 of the wave C. My bottom target stands at $4,300~$4,900 expecting decent amount of FUD.

Tommy_Trader Updated 

I am bearish and my position stands still. Unless it breaks out $7,500, I will not consider this market as bullish. I think wave 2 has been validated thus I am to update my target which hasn't changed much from before. I fib extended wave 1 to target 100% and 162%.

Tommy_Trader Updated 

As soon as wave 4 touched the 0.618 retracement level of wave 3, it's starting wave 5 as expected. If you can see my previous posts, $7,500 was exact level I predicted. Where is the bottom? Well... Wave 5 will be breaching at least more than last low point. I am expecting it to reach around $5,400~$5,800 with excessive amount of FUD. That's where I will be...

Tommy_Trader Updated 

I believe we are now on wave 4 where I expect to be bounced until it reaches around $7,200~$7,500. I set my short position around that zone. Then I expect wave 5 to come that will reach at least $6,000. Below $5,800 with some amount of FUD.

Tommy_Trader Updated 

We are on a sub-wave 5 (green) of the big wave 5 (yellow). Based on the both confirmed bigger and smaller waves, I could target the end of the 5th wave which I expect to be around $5,500~$5,700.

Tommy_Trader Updated 

I am expecting excessive amount of FUD. I have shorted the market. Now is the time we should prepare for our $6,000 below scenarios. I am pretty sure $7,400 won't support it much. Our next target to expect some bounce should be around $7,100~$7,200.

Tommy_Trader Updated 

Formed a nice bullish Cypher pattern. First target comes in at 61.8% of CD, followed by second target at 1.272% of CD. Looks like it did have bounced for a while. Now it's time for Bulls to test the downtrend line above.

Tommy_Trader

My target stands still around $7,500. As sub-waves formed, this target became more valid. I projected the wave 1 to the start point of wave 3 and targeted the end of wave 3 and 5 to fall into 100% and 162%. I did this for both the sub waves and bigger waves and the exact target came out to be $7,524. Also, the major trendline will supporting it nice well below so...

Tommy_Trader

Bears are too strong. I previously targeted $7,800~$7,900. It did bounce but bears got it under control again. I am right now targeting $7,541~$7,661 where it has the confluence correlations. This region or wave 5 was derived by extending wave 1 to 1.618 since wave 3 fell right into 1 to 1 extension of wave 1. Also, I extended the length of wave 123 (start of...

Tommy_Trader

I have been spending decent amount of time lately acquiring and studying Harmonic Pattern Theory. So this time I am going to approach this daily chart of BTCUSD in different perspective. This harmonic price pattern is a perfect bat pattern where AB falls right into 0.382~0.5 of length XA, BC close to 0.886 of length AB, CD into 1.618~2.618 of length CD, and CD...