Indications: - Low wicks > bulls buying the dips - Macd showing some bullishness - strong support @ 33 > good r/r TP1 @ 1.272 - 1.414 ext TP2 @ 1.618 - 2 ext SL below first support These are based on the previous price action
Break of the symmetrical triangle means we were in a triangle correction, which often occurs in wave 4 of B. This indicates the start of the last wave 5 or C. The apex of the triangle acts as a huge support, so in order for the breakout to be confirmed i think a hold of this support for atleast 2-3 days is important. Stop loss can be placed below the apex of the...
Purple figure formation with some fib lines. Opened short at 2755 & 2735. taking profit in downlegs. SL near ath
General thoughts: - There should be some energy left for at least another wave up (volume, resistance / support) - It will face some difficulties with breaking the all-time high, so some consolidation after it has touched would seem appropriate. I already bought at 31.5, looking to take most of the profit inside the yellow box. Stop loss: - Stop loss is riding...
Buy in the green box, sell in the red box :D Elliot theory says the first bottom (D) should not get a lower low than B, and after E we will see a break to the upside. This type of correction usually happens in the 4th wave or in wave A, so this could be the last wave to the upside. All other indicators signal a good buy oppertunity. A lot of people mentioned...
shifting from short term bearish to bullish
look at my other chart on btc for description
IF we are in the correction phase: We could be entering wave C, which generally extends 1.6 of wave A. Looking at a price range of between 1300-1700 for a bottom. If it doesn't go below the black line, acceleration in the opposite direction will usually happen. Comparing the volume in the short term bull and bear trends since the top, it does provide evidence...
Feel like shorting here: dying volume and multiple tops. got my stop above the black line, so super small risk.
Cannot find the right type of correction for the current larger cycle. But looks like it stays a bearish market. any advice welcome