I've changed my Elliot wave count and this one makes the most sense to me now after this correction is looming out. I think this is the proper wave 5 to analyze. As we near the end of wave 4, I am long BTC for one more wave upwards at target price of $18,982. After that I think we are poised for the correction to lower to the fib levels shown to the right.
Target Range:
$18,417 - $19,080
Entry:
$16,080 - $16,622
Stop Loss:
$15,563
RR: 4.63
If it hits exact targets:
Chance to Gain: 17.39%
Chance to Lose: 3.76%
Target Range:
$18,417 - $19,080
Entry:
$16,080 - $16,622
Stop Loss:
$15,563
RR: 4.63
If it hits exact targets:
Chance to Gain: 17.39%
Chance to Lose: 3.76%
ความคิดเห็น:
Some SERIOUS buy walls at $16,250 and $16,200. This thing is NOT going lower. It's in a descending triangle/wedge. Should be taking off any minute now.
การซื้อขายยังคงดำเนินอยู่:
Still within height of the Descending Triangle. When it booms, we will surely know.
ความคิดเห็น:
Sell Wall is lifted!! Please be careful.
ความคิดเห็น:
*Buy Wall I mean
ความคิดเห็น:
Buy Wall has been moved to $15,618 This is critical to the support of Bitcoin's price.
ความคิดเห็น:
Sorry to keep updating, but this is very unexpected. Which is why I always say Bitcoin is unpredictable. Whoever is moving this buy wall around is trying to save the daylight out of Bitcoin. The Buy wall is sitting at $15,500 and that is right around the .618 retrace area from the wave 3. I would not be surprised if it reaches that level, But I would be extremely careful with trying to catch a falling knife here. As soon as you think you've got it down, everything goes south. That's crypto unfortunately. Just be aware and look for signs of reversal.
การซื้อขายยังคงดำเนินอยู่
ปิดการเทรด: ถึงเป้าหมายการตัดขาดทุน:
I'd like to apologize for the incorrect analysis. I do not think you should sell your off of this trade, because it will return upwards. But it does appear that this analysis is wrong, and we are entering a different scenario. I will update a new scenario later on today after I take my exam, but this appears to be a Wave 2 correction of intermediate waves up to the Big Kahoona.
ความคิดเห็น:
For now I am expecting a target of .618 at about $15,000. Between then and now would be a good entry zone. Expect a possible dead cat bounce (double bottom) after this sell-off ends.