BTC possible Double Three pattern

16 ก.ค. 2024

I am seeing a possible Double Three pattern to form on BTC chart.
Looking to enter into a long position around 60000 if i see reversal there and the target would be 67500.
Between 67500 and 69500 i am starting to look for a short position and targeting 47000 area.


The idea i published started when Ralph Nelson Elliott concluded that the movement of the stock market could be predicted by observing and identifying a repetitive pattern of waves, and the wave Elliott started has gotten me.

Disclaimer:

The information provided in this chart analysis is for educational and informational purposes only and should not be construed as financial advice. I am not a licensed financial advisor, and this analysis does not take into account your individual financial situation or investment objectives. Any financial decision you make based on this information are solely your responsibility. Please consult with a professional financial advisor before making any investment decisions.

17 ก.ค. 2024

การซื้อขายยังคงดำเนินอยู่

I am seeing a cap between 57895 to 60845 in Bitcoin CME Futures chart. These caps tend to get filled or retested and it can mean that there is a pullback to happen before Bitcoin reaches to 69500.

17 ก.ค. 2024

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In 15 min timeframe I am seeing a possible top forming. I will enter into a long position at 63500 and my first target would be at 64700 and second target at 65300. My stop loss is at 62200. As soon as i see an opportunity I will place my stop loss to breakeven.


I am sharing my thought process on these market moves and adjust my analysis as the market evolves. This is not meant to be followed by others, as I am prone to mistakes like anyone else. Instead, I welcome feedback that can help me question and refine my analysis.

19 ก.ค. 2024

บันทึก

My first target was reached and i moved my stop loss to breakeven. Now i am waiting for market to show me when can i enter short.

19 ก.ค. 2024

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I had a lucky previous trade because my analysis was wrong 😅 and i adjusted it on 15 and 5-minute timeframe. There might be a expanded flat correction forming in 15-minute timeframe. In 5-minute timeframe i see ending diagonal, bearish divergence on RSI and the price reached 123.6% of wave A, which means there is a chance of wave B has formed and i entered into short position at 66308. My stop loss is at 68137 and my first take profit is at 65200 and second target at 65300. After i entered into short position the price moved higher and i think it might be that wave 5 is extended. It is not the most common occurrence, but i am still going to keep my short position open. As soon as i see an opportunity I will place my stop loss to breakeven.


I am sharing my thought process on these market moves and adjust my analysis as the market evolves. This is not meant to be followed by others, as I am prone to mistakes like anyone else. Instead, I welcome feedback that can help me question and refine my analysis.

19 ก.ค. 2024

บันทึก

I am not sure how much it affects the situation we have in the market, but black bears usually enter their dens sometime between early November and mid December. Once they're in, they'll hibernate for around 100 days, or slightly over three months. Bears are unique, though, in that they aren't "deep" hibernators.

Source: wildlifeinformer.com...k-bears-most-active/

Life needs balance to work properly...taking from one side too much can lead us somewhere we don't like to find ourselves. Just saying that i wouldn't like bears that are hungry before they'll hibernate.

19 ก.ค. 2024

บันทึก

Bearish divergences have been present at nearly all Bitcoin tops. RSI tops appear to be equal but aren't, and because of that, I am very careful about going long here... if I ever do from this point.

I haven't seen tsunamis, but I have heard about them and seen documentaries about the consequences. I will always prefer smaller waves.