Nota
RSI DIV and possible reversal candle patter, it might bounce here for a while.Dagangan ditutup: sasaran tercapai
First target, its gonna have a little more down trend.Nota
If you have been following me for a while, you know that i always advice you to take a look at the SHORTS. This time, you should check both LONGS and SHORTS.The market maker does not follow the crowd, its vice versa.
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I posted this on ew-forecast idea earlier, nothing different as of now.Nota
Correction: Its SMA55, not EMA55.Bulls will start to slowly pick up from here.
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Bulls are on fire! Everyone feels so great about this iH&S and keep forgeting that if you want this to work, bitcoin has to retrace. 5 waveNota
5 waves up, no retracement, expect it to face resistance at the 11k levelNota
Also, wave 5 stopped at almost exactly 0.618 , pretty normal after and extended 3rd.If you wanna play out the 1:1 extention and 11.1k target its up to you, but its not worth it imo, eventually it will break that local high after the pullback.
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It broke the line on the last update, downtrend confirmed. No clear structure yet, but expect some sideways before the last wave down.Nota
Be careful if you are trading Bitcoin, a break down of the local support at 10.4k will signal a down trend with a target of 10k minimum. Definately at a no-trade zone, for now.Nota
Moving slowly and with lots of hesitation for now,it will probably peak at 10.7-10.8 area before a retracement.ALSO!!! Dont be foolled by the price action, volume is pretty low, you would probably understand when the peak is as volume will rise at that level.
Nota
My advice: Dont be fooled about the perma-bull posts by the popular traders. Yes, Bitcoin will most likely have a bull run this year, but thats says NOTHING at all about the short term.Patterns are illusions, they are confirmed with volume and volume only! And there is always fake break outs. If you are long fine, it wont make much difference. But if you swing, you should be familiar with the risk involved on trading right now. If you are not familiar with the risk, then stay in the sidelines and enter later.
If anyone of you sees patterns and knows that they will play out before they happen, then congratulations you have psychic abilites. If thats your super power then message me and we will work something out. :D
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Oh and something else for the pattern guys. Its making a small iH&S on 1hr timeframe. We call it wave 3 ( and the neckline will probably be on its 3rd subwave), so dont be surprised if you see a relative big spike on the price and volume.Nota
As you can see the decline has already started, but this is not over yet. Its probably day traders exiting their positions. I will update soon(tm) - once i get more confidence on my count.Nota
Actually its readjusted too, sorry.Nota
if it breaks the trendline, thats the target.Nota
Alright, this is the last possibility for the bear count. Somehow my downtrend line has moved after publishing the idea and was shown wrong on the picture updates but i readjusted it ( should be fine on the main idea). Note that its drawn by taking into account the close value of Heikin Ashin candles.Bullish confirmation above 11.8k
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Techincally it touched the line, but because the wick is very long we dont take it as valid, for now. Its gonna get picked up by they day traders from here.Nota
There is sell presure at 11.3k for now, if it breaks through it has a second chance to challenge 11.6k. Either way, if you are on the sidelines, this is a no-trade zone.Nota
This is for you that are so proud of looking at the bigger picture and mocking us that check the smaller time frames. Double standards eveyrwhere.Nota
Check the weekly or daily candles and tell us its bullish. Thank you.Dagangan ditutup: sasaran tercapai
Targets 2 and 3. This is still a valid scenario, less possible though.Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.