Here is the BTC roadmap with 3 possible scenarios. Kinda crowded chart but I'll try to explain it below:
1'st scenario (orange) => We go down from here filling the big volume profile gap (2'nd yellow arrow), leaving the 1'st for when we go up later. This is the least probable considering the trading volume & momentum we have right now.
2'nd scenario (red) => we complete the green wave 3 which is in fact a big ABC and we continue with 5 waves down filling both volume profile gaps in the consolidation periods of waves 2 and 4 and achieving the much awaited capitulation. Bulls will be rekt on this one.
3'rd scenario (green) => we follow the green 12345 with a top @ ~ 9470. In this scenario we will fill the 1'st volume profile gap on the "DECISION POINT" and the second gap after the big abc retracement form the completed impulse wave up and having the real trend change with no capitulation. The 0.618 fib level marks the spot! After that is moon time (wave 3 of 3 of 3). Bears rekt!
Notice that in the last 2 scenarios the real change in direction will take place sometimes in september. Not sure what news and change in fundamentals we will have then but something will always happen to justify the natural cycles in the market. As you can see I'm neutral here considering we don't have enough data yet but I wanted to put this up because the sentiment right now(after a long downtrend) is that something will happen in the next couple of days and this will get people in big trouble.
Remember: Having a roadmap, being aware of possible scenarios and practicing extreme patience are THE KEYS TO SUCCESS in trading.
Happy trading everyone!!!
1'st scenario (orange) => We go down from here filling the big volume profile gap (2'nd yellow arrow), leaving the 1'st for when we go up later. This is the least probable considering the trading volume & momentum we have right now.
2'nd scenario (red) => we complete the green wave 3 which is in fact a big ABC and we continue with 5 waves down filling both volume profile gaps in the consolidation periods of waves 2 and 4 and achieving the much awaited capitulation. Bulls will be rekt on this one.
3'rd scenario (green) => we follow the green 12345 with a top @ ~ 9470. In this scenario we will fill the 1'st volume profile gap on the "DECISION POINT" and the second gap after the big abc retracement form the completed impulse wave up and having the real trend change with no capitulation. The 0.618 fib level marks the spot! After that is moon time (wave 3 of 3 of 3). Bears rekt!
Notice that in the last 2 scenarios the real change in direction will take place sometimes in september. Not sure what news and change in fundamentals we will have then but something will always happen to justify the natural cycles in the market. As you can see I'm neutral here considering we don't have enough data yet but I wanted to put this up because the sentiment right now(after a long downtrend) is that something will happen in the next couple of days and this will get people in big trouble.
Remember: Having a roadmap, being aware of possible scenarios and practicing extreme patience are THE KEYS TO SUCCESS in trading.
Happy trading everyone!!!
Comment:
Same chart, 30 min time frame
Comment:
Well,
Slightly different path, but still the same destination (spot on target, to the tick :D) We all know what comes next, don't we?
Slightly different path, but still the same destination (spot on target, to the tick :D) We all know what comes next, don't we?
Comment:
extended 5 anyone?
Comment:
Uh, taking a close look at the Elder indicators, it seems that our bulls really want to show some strength. Another scenario is one in which we hit and pass 8790. That will indicate that we now are just beginning the wave 5 of 5 of 3. In this case we can go in FULL BULL MODE with an extended 5 having the algo's on our side.
Algo's + Short liquidation + FOMO = where the magic happens!
Algo's + Short liquidation + FOMO = where the magic happens!
Comment:
Careful out there, we are approaching the first bear trap zone and I think we have still one more leg down.