Hello gang. OK so here's the Renko on the daily. If you've seen my previous ideas, you will notice I've been talking about a big triangle wave, along with some other people doing TA. These waves are bouncing in a big triangular formation ... 20k to 6k, 6k to 11.7k, 11.7k to 6.5k, 6.5k to 10k and now the final wave ... which has broken down below the triangle...
Hey fellow TA enthusiasts! I have some good news! We are likely to start going back up for a while, and we will once again visit the 8k region for a welcome breather! Sadly, signs are saying that our revival will be short-lived, and will be followed by another deep dive. And this time, we will get to see the dreaded depths of 5k. Let me walk you through it:...
This is a time to be very cautious and enter to position when you have clear idea and target to aim. I am very bearish on midterm, . Ive been that for several months and no reason to think otherwise. But as i said before, i dont trade like that. I trade one trade at a time. I see this market going down very hard but i dont see it will necessarily be ready for that...
Hello All, A quick update ... there are different possible interpretations when it comes to EW. The short summary ... (1) did we have an ABC correction up from 7040 (black wave)? (2) or did we have an ABCDE leading diagonal up from 7040 (purple wave)? Thing is, selecting one or the other decides when the impulse down started ... and the projected bottom (in the...
Hello everyone! So here, we are ... BTC, tried to get to 8100 on an IHS (see chart). Stalled just over 7.7k territory. Now what? A few days ago, I posted an idea about a back test of the 7k bottom ... I also didn't like the fact that we didn't quite hit the rising 6 month trend line (now almost 9 months long!), which was sitting at 6.9k. So, I do think we are...
Last scenario which i linked here is invalidated but it still made appr 9% gains so in profit making it was very good but the time it took was way too long for me atleast. For me it doesnt matter whether it was correct, truncated, incorrect etc. If you are a trader it doesnt matter to you. If you try to proof that my count was wrong then you have to think with...
From 10k, we are in wave C of an ABC correction (see purple line) ... heading to the lower line of the triangle .... completing cycle WAVE E (red line). The ABC correction is comprised of a 5-3-5 sub wave system. Renko diagrams support that we have completed wave A and B of the ABC taking us to the bottom of the triangle (see my previous idea). It's possible...
Hello guys. So here's an update on my idea ... some polishing up done, with the new data, but the concept still remains the same. For those looking for a summary only. - we are likely forming wave E of a triangle pattern (see red wave) - we are likely in an impulse wave, where wave 3 ends and wave 4 starts (see purple wave). - the purple line is my highest...
Well folks, that last drop into the 75xx area, pretty much confirms we are heading to the bottom of the triangle. I took a long at the 0.618 fib as it was possible the correction was over ... but not without a stop, and those triggered just now. I still have some alts (EOS) that have found support ... but I'm not sure those will hold. Stops ... set them, and I...
First i want say that i linked my previous idea for you to see that we are following that same plan. Reason for me to update this on a new chart is to make this more readable. Still same targets i've updated there apply in this. In that previous chart i marked my ABC as WXY and also W:s subwaves as WXYXZ. For making this more understandable i changed them to ABC...
The two roads people ... the fork in the road. Always decisions in life. Left or right, on or off, go or no go, right or wrong, up or down? How do you decide when to buy or sell? Do you gamble, listen to others' guidance, or your own TA, identifying possibilities, key decision points and then execute a strategy for min loss/max gain, to improve chance of...
OK people, I've decided to lay down many possible scenarios. Let me summarize, don't have much time! BLUE WAVE: Assumes we completed a running flat correction to 6.5k, and now we are in an ABC correction up, or possibly an impulse. Based on the consensus of some traders I respect, it's possible we form a double top (9.7k or maybe go to 10.2kish) before we go back...
Hey guys, as you can see I've labeled the count so there is actually not much to say besides: Don't fomo yet. There is still a chance for a bearish scenario. $6k is actually the initial level I was looking for to enter big before price began to surge few days ago. With respect to the length of the 3rd subwave of wave 3 in c, the upcoming fifth wave (if there will...
Here we have it guys, as predicted, we have touched that important green trend line (within a few $). So it's D Day, kind of. Remember, if you're a whale and want to short ... what's the best option now? Probably a fake bull over that line by a few $100, get everyone long, and then short it to pieces. The squeeze will liquidate many and send it back to the...
Well folks, not too much change on my chart, just a few updates. No doubt the alts are getting some action while BTC is confused. Seems that the whales are fighting. One dumps, one buys. Or maybe this confusion is what they want? Where are we going whales? 8500 is something I'll watch closely. A break out from here is a bullish indicator ... but I also don't...
We're coming up to an important resistance level, all time high trend line 1, and a fib is also converging there. Interesting zone is the 8500 to 8700 level, and breaking this could mean a run up to test the previous high of 9177 (call it 9200). A safer long at 8800 though (although there's no guarantees as you already know), but 9200 could be the turning point,...