Yesterday we were looking at the fib golden pocket and still leaning towards the bearish case. I hope no one shorted support as I suggested, as we clearly got a strong reaction now. This is why we trade levels and not biases. Don't short support, don't long resistance. I am now personally 75% out of my short (opened at 67k and compounded at 63.5k) as you guys...
In my last idea I told you to watch the weekly at 61.5k and was leaning towards the bearish case. We broke it and retested it as resistance before getting an impulsive move to 58k I also said that I don't expect this support area (57-59k) to hold, and I still hold this view as : 1) The reaction doesn't look strong 2) A lot of people are buying the dip For those...
The daily level at 63.5k acted as resistance once again We have a new weekly level at 61.5k, which is the important support that we don't want to lose in my opinion. If we lose it, we still have the big support area at 57.5 - 59k (monthly level + pitchfork median + fib golden pocket), and targets to the downside have been outlined in my last idea (link...
In my last update I gave you the daily level at 63.5k which was acting as resistance, and clearly never got broken, giving us this drop to 60k We bounced off the .25 of the pitchfork already given in previous ideas, and should we lose it, I would like to see the monthly which is in confluence with the median of the pitchfork (in red) and the fib golden pocket that...
After the drop that we expected in our last post, BTC dropped 7% to the fib golden pocket that you see on my chart. It held as support, but the daily level at 63.5k has clearly been acting as resistance, giving us a small range. If we break the fib golden pocket, I expect a drop to the monthly at 58.8k If we break the daily and hold it as support, we can start...
BTC has clearly been in a strong uptrend since 40k, pushing to ATH really without any pullback. In fact, not a lot of people were longing, actually retail was pretty aggressive trying to short every single "high". This was clearly the case with the funding rate never getting above 0.01 during this entire uptrend Quick explanation : A positive funding rate is...
BTC has been in this channel for a couple of days now You can see that even though it has been rotating from channel low to channel high multiple times, OBV has been on a steady decline, meaning we have bearish divergences on the lower time frame. If we break to the upside, 63.7 - 64k is still an important level In my last idea I gave the monthly as the level to...
Again, BTC is in a channel If we break to the upside, target is 63.7 - 64k (this small area is very important) and if we break it, we should break the ATH without any problem. If we break to the downside, first target is the monthly at 58.8k then the daily at 57.5k Let me know if you want a higher time frame update where I show you what I'm looking at Good luck...
We broke out of the channel to the upside after bouncing off the mid of the channel twice (shown in my last idea), and reached our first target which was 61k Now, BTC is breaking big resistance levels without any problem, like the monthly level at 58.8k (which it broke then retested as support), and is now breaking out of this pitchfork. If we can hold above...
As I said in my last update, should we break the channel to the downside look for 54 - 54.5k This target clearly got hit with the low being put in at 53.8k, after that we rallied to the mid of the channel which we rejected for another drop. Now, we are hovering around the bottom of the channel If we reclaim it and retest it as support look for the mid then high...
As I said in my last update, if the channel which we were looking at breaks to the upside target is 58k We got to 47,850 front running 48k by nothing really, and got back into this channel that you see on my chart We are now at the middle of this channel, which is always the 1st target after you get back into a channel, and 2nd target is the low of the...
BTC has been in this channel for the past 3 days, watch where it breaks from. If we break to the upside, target is 58k If we break to the downside, first target is 50-51k (weekly + middle of pitchfork) Lower targets will be given should we break to the downside, you can also look at my last idea (link below) to see where I would like BTC to drop to. Any...
Here I will show you my general view on BTC using Elliott Waves, I'll try to make it as simple as possible. So, starting from the low of 28.8k, we completed a 5 wave move (in yellow on my chart) into an intermediate 1 (in blue). After that we did an ABC (yellow) into the intermediate wave 2 and we are now in the intermediate wave 3. The intermediate wave 3...
In my last update, I gave you the last resistance that I was looking at, which was 48.8k We ended up getting a 2% pullback after the swing failure pattern, then bounced near the low of the range which was at 46.7k and made our way up. Right now BTC is looking pretty strong and more upside wouldn't be surprising. Should we push higher, I would look for the monthly...
BTC broke the fib golden pocket which was in confluence with the daily level, not too surprising as BTC is looking strong. Now we have 2 scenarios : - We swing failure pattern the high from the 18th of September at 48.8k, and head back lower - We push to 50 - 51k (very important level) 48.8k is basically the last resistance before 50k Should we get to 50k, its a...
The resistance levels that I gave yesterday got broken. As I said, if we did it would be a real sign of strength, which is why we got this 6% move in a couple of minutes. Now, the next big level is the fib golden pocket in confluence with the daily at around 48.3k We also have this pitchfork that you see on my chart, and we are coming up to the .25 Should we...
BTC bounced again at 40.9k (near 40.7k which we have been looking at) and is just below 44k. We are currently rejecting the .786 of the fib retracement, and right above us we have a descending trendline, a fib speed .618, a daily level at 44.8k and the fib golden pocket right above it. You can see that we have a lot of resistance in this area and I personally...
As we can see, the fib that I gave you in my last update is still getting respected. We double bottomed at the .786, then when we got back into the golden pocket, the .66 acted as support giving us a 4% bounce, and yesterday when we got back into the golden pocket the .618 acted as resistance. Today, the .66 acted as resistance. So 4 trades were offered in the...