rottnpicks

rottnpicks Updated 

We are approaching a golden cross, For the bulls we want a significant cross to confirm, you can look back in the history to see the power of the crosses. However I am in a short position, again looking at our history we can see in the larger structure behind we had a death cross and a failed golden cross. Should we fall through these MA's and not get a...

rottnpicks

Just throwing this one out there, In this wave/Fibonacci scenario I have BTC topping out at the 5.1 extension level, It already hit. I am using the very first wave structure as the wave 1. There are 3 distinct moves and That is the highest extension I use on my tools. A more experienced waver might see this a different way. it is very possible that where wave 3 is...

rottnpicks

On this chart we still have not broken out of the death cross. Our 55 EMA is below the 200 EMA, however we are currently above these 2 Ma's. The bulls need the 55 in (amber) to cross the 200 (white). A drop back below these 2 MA's just might not recover and that death cross is still valid. In purple I am pointing out where gaps have not filled from the low of .97,...

rottnpicks

An opportunity for a low risk short at the 5.1 extension... There is a valid 5 wave structure. Into the shorting zone, there is a gap below to be filled. We are still above the daily MA's but again low risk if you set your stop loss correctly!!! Good luck.

rottnpicks

We have a valid 5 wave count and have hit the 5.1 fib extension, still above the daily MA's, however this is an excellent opportunity to try the short... Don't forget to set your stop loss on this!!!

rottnpicks Updated 

If you are a technical wave or Fibonacci trader. you would understand the extension levels. wave 1/2 are obvious here in yellow, but as you can see our extension tool has taken us to the 4.236 extension level/ based on the wave 1/2 this is considered over extended and a hard fall to the .786 retracement is likely... Moderator learn your extension levels.

rottnpicks

this structure from a technical point of view is massively over extended meaning a hard fall to the 786 or lower fibonnaci.