In this post - I'm going to examine Bitcoin across the board covering the following:
1.Basic Technical Analysis ( Trend Lines , Candlestick formations, Moving Averages)
2. Elliot Waves Analysis
3.Marcet cap analysis, Volume Analysis, Fundamental Analysis .
4.Number of short positions (BITFINEX)
5.Number of long positions (BITFINEX)
1.From a Daily chart ,...
Bitcoin (BTC) trapped bulls but the death cross already occurred above $11k resulting in a $5k drop in price, however since the price currently is at $7k, we are still in able to have one last V Bottom to complete the bullish case
I've seen our (maybe) first elliot impulse before long time of retracement,
I think we just took the touch support levels, so it's time to go up again
good luck
Hi to all my new friends, let's get to it! I know many people on here like to pretend like they are wizards and know everything, but I will just keep it real for you. We go based on the data given to us, and adjust as new data comes in.
BITCOIN just went sideways for several hours, not sure what it wanted to do. Based on the current count, I believe we have just...
Good afternoon all my Crypto Trading buddies. Bitcoin just bounced off the bottom of $7250 to confirm the end of the ABC bigger correction. Now it appears to be in a small uptrend. If the count is correct, we could be targeting the $8900 to $9300 range. This would be a 0.618 to 0.786 retracement of the previous 5 wave elliot structure.
Entered Long at...
As you can see, LiteCoin is heading down to finish the 5 wave elliot structure, but first, expect a bounce to the $158/159 region for wave 4 before making its final descent down its path of wave 5 to the $134 - $143 region.
Take profits 1 - $144
Take profits 2 - $135
Stop loss $161 if already in a short.
Otherwise, wait to enter a new short at the $158 - 160...
Bitcoin hit the previous target of $7700, it looked like wave 5 but it now appears it was actually wave 3. With the new count, Bitcoin is likely heading to the $7200 range with a $250+/- variance. It's a good play for going short.
Take profit 1 - $7300
Take profit 2 - $7000
Stop loss - $8500
I will update this when I receive 15 LIKES. Please click FOLLOW if you...
Bitcoin looks like it's going short right now. Currently inside of an inverse flag aka Bear Flag. Likely to test the $8500 level at the upcoming wave 3, and followed by $7850 for wave 5. This is based on the waves following Fibonacci ratios of 1.0 and 1.618.
Be careful entering any long positions at the moment.
Take profit 1 - $8600
Take profit 2 - $7950
This...
Major Wave will Remain same . Short as before .
As it is broken downwards ,,its Diagonal/ Triangle on Friday . so Triangle is No more valid .
Now we will count i , ii , iii , iv , v = 5th part of wave 3 Red ( The extension )
Check the chart , picture is much clear .
Regards
Elliot Wave by mazchaudhry
