MonDavid411

MonDavid411

Hi traders, Here is a detailed elliott count I tracked for BTC . You may use this chart to serve as a confluence to your strategy. Since the start of this year until the breakdown yesterday, an irregular flat correction has played out after an extended wave 1. As a rule of thumb for extended wave 1s, wave 2 must be the most time-consuming pattern out of all 5...

MonDavid411

Hi traders, Here is a detailed elliott count I tracked for BTC. You may use this chart to serve as a confluence to your strategy. Since the start of this year until the breakdown yesterday, an irregular flat correction has played out after an extended wave 1. As a rule of thumb for extended wave 1s, wave 2 must be the most time-consuming pattern out of all 5...

MonDavid411

Hi, I am an elliott wave trader and I believe 2 patterns could play out here. A common "Expanded flat" wherein wave B goes beyond wave A, and wave C overshoots wave A. We will see another bounce to 36-44k, dump to 24k and possibly 17k on the last wave (1W 300MA bounce). and a rare "Running flat" wherein wave B goes beyond wave A, and wave C fails to move past...

MonDavid411 Updated 

Hi Traders, I am an Elliot Wave trader, I believe we are in a huge expanded flat pattern in the weekly timeframe. Flat patterns consist of 3 waves (ABC) with the last wave appearing as an impulse or a 5-move wave. I have identified the January 2022 to be the beginning of the corrective Wave 2 (a smaller expanded flat pattern in the daily timeframe) I am longing...

MonDavid411 Updated 

Hi traders, The trend is your friend. Be careful with long trades for now as we are still headed to the end of the correction. DXY seems to have broken out of the falling wedge with a double bottom pullback. Coincidentially, wave 3 will seem to end @ 1W 200 MA at around 24500. We may expect a 27-week correction to play out from there before we break the 200 MA...

MonDavid411

Here is an 8h Elliot Count. Be reminded that two Wave 3s willing be playing out. One in the hourly timeframe, one in the daily timeframe . I am expecting a pump to 53k for the hourly, and a long term pump to 91k for the daily count. Remember. Dollar Index is now in the resistance zone, Crypto Bull Runs start when DXY dumps. Hope this helps you in your trades....

MonDavid411

Hi traders, Everything should be self-explanatory. I believe we are going to execute a double zigzag pattern to complete Wave 2. Do not long too much ^_^

MonDavid411 Updated 

BTC About to hit 42-44k mark. Pls see previous idea

MonDavid411

Hi Traders, I am still expecting hard reversal from 43500-44500 zone. We might hit a rock bottom of 19-30k after this long. Be careful around the Party Pooper zone. Ayt? Good luck guys. Let me hear your thoughts. I will appreciate any feedback.

MonDavid411 Updated 

Expanding Diagonal Motive Wave. Wave 5 will always be the longest wave for expanding waves. Point A can retrace @ exactly the size of wave B which is 4.45- 4.5 Entry at point B above sign of strength. Stop loss below.

MonDavid411

Hi traders, As you can see, the rising wedge in the middle servers as a Sign of Strength on the upside, and a Sign of Weakness in the downside. Should we see a price below SOW, we get an expanded flat correction @around 26-30k. Otherwise, if we have completed the running flat correction, we should now see a bounce up to Wave B

MonDavid411

Since 67k was an obvious fakeout, an expanded corrective flat pattern must play out. Y point will be much lower than W due to the massive pull from X. 23500 is very viable, however, we might see a pump to 42-45k first to start the zigzag downwards. If it breaks out of 45k, we will get a 1st confirmation that zigzag (scenario B) is invalid. If it breaks out on...

MonDavid411 Updated 

Hi traders, It is obvious BTC did not make an impulsive motive wave. I believe it is creating an ending diagonal motive wave wherein there are literally repeated 3 corrective moves up to wave 5. I checked fibonacci time as well and we should reach Wave 3 or 42960 - 20-28 hours from now. I am now preparing for a long entry. Elliot traders, are you thinking the same?

MonDavid411

Update from my previous post: New wave 2 low identified

MonDavid411

Hi traders, It is obvious BTC did not make an impulsive motive wave. I believe it is creating an ending diagonal motive wave wherein there are literally repeated 3 corrective moves up to wave 5. I checked fibonacci time as well and we should reach Wave 3 or 42960 - 20 hours from now. I am now preparing for a long entry. Elliot traders, are you thinking the same?