damngoodmoney

Let's prepare for adjustment

BINANCE:BTCUSDT   Bitcoin / TetherUS
Adjustments are bound to occur soon. Let's get ready
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If the 1.618 price range and pattern/wave value are approximate, it is of course necessary to check.
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It's a good flow. I don't think it will be difficult since sl and ep are clear sections.
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If the end of wave 5 is confirmed in the current upward trend, the next wave is a correction wave. That corrective wave is very important.

First, let’s check the conclusion of the 5th wave.
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There is a high possibility that the 5th wave will be stopped.
There is a need to prepare for adjustments in the diamond pattern format.
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An adjustment has occurred. Next is a brief rebound, and then further adjustment.
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There was a rebound. Then, just check the adjustment again.
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Adjustments have occurred, but not in the flow that was expected. Let's continue to check for corrections, watching out for further wobble (or maybe a slight bounce).
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Additional adjustments are being confirmed after the shaking occurred.
There is no reason to enter a long position in diamond / bearish flag / descending. Let's continue to check the adjustments.
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Judgment is being maintained regarding mediation. It is being judged as a knock (rebound) to break the strong bottom.
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The existing judgment is being maintained and there are no changes to be made.
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The current rise is unexpected.
It became SL from the existing X mark. There is no position and we plan to enter a position after monitoring whether the price reaches the indicated price range.
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It is identified by the termination of the connection wave after the correction wave. We plan to accumulate positions on the premise that the rising peak will not be exceeded (SL).
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I don't plan on doing any trading today. However, I briefly share my thoughts on the section.

1) The flow was judged using the existing red line.
2) However, the judgment is currently being revised to the blue line.
3) Since this is the RSI high point, a correction will occur, but I will not judge the high point today.
4) We plan to confirm the volume by tomorrow and share our judgment after identifying the end point of the third wave.
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There is less than 1% left until 60k. It is believed that the third wave will be concluded within that range.
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A squeeze occurred at 60k. I plan to accumulate short positions. We plan to manage PS without SL in this section.
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Even if it is EP with PS in mind, if it rises by 6% after short entry, it is right to evaluate it as a wrong judgment.

After checking how the short-term trend line is handled, I plan to decide whether to protect the position with sl rather than ps.
Comment:
On Upbit, Bitcoin set a new high record. I have been trading for a long time with the idea that trading should be done with cool-headedness rather than passion, but if the current overheated rise continues, I wonder if I should have put down my cool and joined the overheated group and engaged in overheated trading... I sometimes regret it.

However, because I have pride as a trader, I plan to continue uploading ideas while maintaining my judgment on the main premise of a 4th wave adjustment after the 3rd wave ends.
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We are considering the possibility that the adjustment will be much shorter than the previous judgment.
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We are maintaining our judgment on a short adjustment.
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We maintain our judgment on the conclusion of the 3rd wave and the short 4th and 5th waves rising.
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I admit that I failed to identify the 3rd wave high point.


Modify and identify the 3rd wave high point. We plan to manage our positions in preparation for an additional rise of approximately 7%.
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A rise has occurred. Starting from the current section, we plan to check the diamond pattern or head and shoulders pattern.

Since the title of this chapter is a topic related to coordination, I plan to end the chapter after confirming the end point of wave 3.
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A head and shoulders pattern is occurring in the section. You need to check whether you want to challenge 60k again.
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We plan to identify a corrective wave based on the judgment that the previous high point has not been exceeded.
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A little fake motion occurred at the previous high point, but it created a small Elliott wave.

5-wave closing corrective wave from a small Elliott wave,
As the 3rd and 4th waves of the large Elliott Wave are coming together, I think a further decline in the section is unavoidable.
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The author suffered more losses than profits through leveraged trading during this upward period. It is currently recovering from the correction zone, but as a trader, there is a need to reflect. Since the grand riding section will soon begin, I plan to be a little more cautious when deciding on adjustments in overheated sections and, if necessary, resolutely discard my judgment.

There is a trader who suffered losses during this upward period due to the author's adjustment judgment. I sincerely apologize.
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Now I plan to check the C that will complete the 4th wave.
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Currently, the mining side is not selling the quantity. (Acquaintances who actually mine say they have no intention of selling. / Unlike the existing cycle routine) If so, the quantity desired by institutions will also include the quantity of crypto market traders. With that logic, there is a possibility that the fourth wave will create a strong sense of fear in the crypto market.

Spot traders need to manage their fears, and leveraged traders need to plan to respond to whipsaw-like volatility.
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A sideways movement is occurring in the section where C is being checked. Expectations for further increases are being created, but it is believed that deceptive volume will occur. Therefore, the adjustment judgment is maintained.
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It was a section where C was being checked. However, after sideways movement and deceptive volume, it is changed to W-X-Y (triangle) instead of C.

If further sideways movements continue over the weekend, we believe there is a high possibility of an adjustment up to 60K and plan to proceed with trading.
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It is difficult to update ideas on weekends (Korean time) because there are external schedules. I hope all of my followers transact safely.
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We plan to check the downward impulse in the section.
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If there is a rise above 2, it is difficult to argue for a 4-wave adjustment.
For the above reasons, the 60k challenge in the current section is very important.
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As per my previous idea, I do not plan to argue for the 4th wave anymore. Be careful about excessive volume.

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