we've been short $link since the 10th and are expecting a serious pullback, along with the rest of the market. similar set up to our bitcoin chart posted a few days ago (linked) legacies also look topped. this is either going to bounce around the lows to form a wave 2 bottom, or this was dead cat and we have 5 more waves down. playing it level by level.
bitcoin with some bruuutal weekend pa. continued attempts at swing high, wiping out stops. just cant seem to break through the daily cloud. adding confluence to our bearish bias here.
I was expecting a buy, but the price did not give me a reason to go long. Instead, price pushed down indicating a bearish move back towards 1700.00. I'd like to see if price can give a slight pullback before potentially heading back down. Let's see how this plays out. 🤞🏼
BITCOIN (BTCUSD) – Cash: Selling On A Breakdown Of Inside Bar Pattern (WARNING ON CRYPTO: TRADING BITCOIN AND CRYPTO IS HIGH RISK, CONSIDER A REDUCED POSITION SIZE AND LOWER LEVERAGE UNTIL YOU ARE FAMILIAR WITH THESE MARKETS). Price Action: Price formed an Inside Bar Pattern overnight. Price moved briefly lower from the prior Inside Bar Pattern that had formed...
Shorted from: 38992.43 STOP LOSS: 39032.97 TARGET: 34019.95 leaving room for more potential downside.
from what i see. GMT should now go into correction once again for few day and i see price moving back to between 0.85 to 0.89 GMT is current over bought and now in my view is expected to do a pull back. Good LUCK to all and best wishes.
Just to add onto my idea below, a bearish divergance also got created on the 1h See idea below to see my trade details
My future view is that it will go down I recommend selling from the entry area and not buying above it because I have traveled through time and heard that it has gone down.
My oppinion sell BTCUSDT I'm expecting this fall and I also think it's going to get past TP1
After a 9% day for COINBASE:ETHUSD it is approaching my long target, where I would like to reverse and look for shorts. Some of the key levels have changed but the thesis is still the same. Upon retesting the structural level at 3,000, I'll look for a move back below the former range highs at 2813. I expect we could find some support initially at this area....
BTC going on an A-B-C correction which is very common after a good 5 wave impulse Blue 5 wave Elliot wave from 2017 to 2021 ABC corrective wave in RED Wave C is an irregular correction(Wave B ended above start of wave A) and is of 5 wave series in PURPLE Wave C has two more waves to go sub wave (4) and sub wave (5) I believe there will be a more complex...
In my personal opinion BTC will not be able to hold support above 39k much longer. With rising interest rates I am very confident that btc will drop to support at 29k.
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Adding the red bold resistance to the chart, as price continues to breakdown *through itself*. I think ETHUSD hits $2,800 before it $4,800; if it goes to $2,800, it will likely follow through to the $1,800.00 area. Happy New Year. God Bless, Chief
H&S pattern on 1hr & 4hr charts. Entry: 4000 TP: 3800 SL: 4100
Maybe the recent long made a new short channel? Lets see if it can break this or will it hold as a resistance.
The arrows arent meant to be specific to time once we drop out of this triangle. They are meant as a reference as to what the next targets will be. There will be more up and down in between then what i showed as well. The $20,000 area where it ends is the bottom and the end of the bear market, soon as we touch that we will be back to a bull market, long time...
My argument: 1. Wave 5 is over, Corrective started 2. RSI Divergence 3. Hit the resistance trendline