TradingSavior

BTCUSD Trading Idea 20171130

BITSTAMP:BTCUSD   Bitcoin / Dolar
BTCUSD             has reached its peak and lost nearly 13% of the value in matter of hours, resembling a doji .

It seems that correction has started. I have liquidated all my BTC             holdings and will watch the market without any BTC             in hands.

Target 1 is first place to buy BTC             . Once the price reaches target 1, we are likely to see some bullish moves in short term. Will it continue? - That remains to be seen.

Once the price breaks Target 1, it is likely to reach target 2 and 3 as well. Once it reaches target 3, the market is likely to move in sideways between range of target 2 and 3.

Once it breaks out the target 2, it may be safe to assume that market will be going for the long run.

Thesis
- Market has risen and shown Elliot's waves.
- Market has entered a correction phase
- Correction will occur in A-B-C according to Elliot's wave theory.
- Fibonacci retracement and target levels match

Correction targets:
A - 7900
B - 9400
C - 5000

Trading Idea

Entry:
100,000 USD at hand
Buy 25,000 USD worth of BTC             at 7000
Buy 25,000 USD worth of BTC             at 5800
Buy 25,000 USD worth of BTC             at 4900
Buy 25,000 USD worth of BTC             at 3000

Exit:
Sell 25,000 USD worth of BTC             at 11500
Hold rest of the volume if the market breaks 11500
Hmmm, now days we see that a lot of money came in the market, most of these moneys went to BTC as we see the dominance is more than 50%... So in my opinion your wave C is kindly so down, I think it can go from 8000$ to 6800$ not more. In the worst scenario if it goes 5000$ as you are showing in the graph it will continue 5 waves down. Lets see.
Balas
I like that but instead of $25K maybe $250.....
Balas
Hi, it's me your brother :P Lend me some your 100k? Hahaha
+1 Balas
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