ShounakShetty

ShounakShetty Updated 

BTC is simply ranging. There's no need to get too bullish or bearish. Let each arrow play out one by one and lets reassess.

ShounakShetty Updated 

It's very straight forward. Risk to Reward Ratio is in my favour. As long as Nifty holds this trade will bear me fruits. Risking 1% of portfolio.

ShounakShetty Updated 

Okay well maybe not to the moon. Technical: 90 day long accumulation pattern and at APEX of the triangle. HIGH R:R Resistance and Take profit zones on chart. Not much to say here. _________________________________________________________________________________________________________________________ I'm not your Financial Advisor and this is not to be...

ShounakShetty

Technical : OMGBTC after losing 83.21% from ATH is finally showing signs of a bottom. Not only that, we can also see textbook accumulation pattern. It seems for 48 days we have been in a tight range. At first the bottom was formed following which a breakout attempt was made which failed. It proceeded lowers for a liquidity tap by taking out all stops below the...

ShounakShetty Updated 

Neo, the time has come for you to decide. Will you take the blue pill (happiness and security for all) or will you take the red pill (brutal truth). The hour is upon us. If NEO decides to take the blue pill then targets would be 0.0036 - 0.004 Btc. On the other hand, if NEO takes the red pill then we stay in wonderland and I show you how deep the rabbit hole...

ShounakShetty

Technical : I see many reasons to take on this trade. My personal bias for the market is bearish but at the moment everything is point at further upside. Elliott Wave Analysis : Since a few days we have been in a corrective triangle pattern which occurs mostly in Wave B or Wave 4. We can confidently count the first wave of the triangle as a Wave A. The final...

ShounakShetty Updated 

Technical : We are currently in consolidation and has formed a bear pennant (Also looks like a Wave 4 correction). This only implies that probability of breakdown is higher than a breakout. Still it does not mean that we enter a short trade yet. We wait for either one of the confirmation levels to get taken out. If long confirmation then target will be 0.0009...

ShounakShetty Updated 

Technical: For the past few days, we've been working on a larger degree B wave. Which can be broken down to ABC as shown on the chart. The fractals of the ABC are also very apparent (3-3-5). Now looking at this Elliott Structure, a correction to the upside is warranted. So we wait for a setup that provides us the best Risk to Reward ratio. The Wave 4 correction...

ShounakShetty

We finally made another peak on the daily charts and came really really close to the .618 Fib level. Technical : Based on Elliott Waves Analysis, we can confirm that WYX (Double three correction) has completed with proper Fib extensions. I'm of the view that we will correct further because there has been no significant fundamental change in cryptocurrency to...

ShounakShetty Updated 

The level of manipulation on Bitmex is out of this world. Synopsis : 48 hours ago, Bitmex goes down and liquidates everyone with a stop loss order. An hour ago, Bitmex shoots up the price by 30% in 1 minute. Rational regarding further ETF Denials in the near future. Two days ago, Bitmex went down for maintenance and with surgical precision a short...

ShounakShetty Updated 

Twitter is filled with Bitmex bashing at the moment. A few days ago, Bitmex had announced that they will be going under maintenance for 30 minutes. Coincidentally at the same time, groups started buying up large quantities at 6300 range on Bitfinex. This was very suspicious and most analysts knew something is up. We all knew that Bitcoin Shorts vs Longs ratio was...

ShounakShetty Updated 

"At around 00:00 (GMT), our satellites detected a breakout attempt by the bulls approaching the previous high. But the path was filled with heavy turbulence and the breakout had to aborted. During this process, all our engines failed and now we are in a state of free fall. It was a pleasure serving with you, Ladies and Gentlemen. Godspeed." - Last remaining Bull...

ShounakShetty Updated 

This is a very short term chart describing my position. We have completed three waves down and now we are in the 4th Wave correction (Wave 5 of Wave A). My position Entry: 6300 TP: 6600 (50%) and will let the other run till 6800 SL: 6284 (Extreme of Wave 4) Furthermore, the support lines that I had posted more than 10 days ago is still holding. As expected...

ShounakShetty Updated 

As per my previous analysis, we got the Short Squeeze within 8 hours of posting the chart. Now the question rises whether this short squeeze is just a correction to the upside or whether we shall get a bullish impulsive wave up. If we were to solely rely on Elliott Wave Analysis then we see two counts. The most important rule every Elliottician must follow is to...

ShounakShetty Updated 

A month ago, we saw the start of a new rally based on the hopes of Bitcoin ETF's. Many misjudged it by assuming that it will get passed on the first hearing (i.e. 10th of August). Well that's not how Legislative and Regulatory Bodies work in a democratic state. It was pretty evident that whales filled up their short orders at the 8k ranges. The dump has commenced,...

ShounakShetty Updated 

Introduction to Deception 101 - Sun Tzu The Art of War dictates that "Hold out baits to entice the enemy. Feign disorder, and crush him." What I'm trying to convey is that last minute bears might be walking into a trap laid down by market movers. As per Elliot Wave Analysis, we have a final wave down remaining. The ratio of BTCUSDLONGS and...

ShounakShetty Updated 

*Nuclear Alarms going off* "ATTENTION, WE HAVE A LAUNCH DETECTION. I REPEAT, WE HAVE A LAUNCH DETECTION. CONFIDENCE IS HIGH. I REPEAT, CONFIDENCE IS HIGH" Gentlemen it seems that we have a Short Squeeze heading towards us. As usual the greedy bears have opened shorts at the low 6000s. Were they all sleeping when we dropped from 8300? Bulls are getting ready for...

ShounakShetty Updated 

Technical : We are seeing a textbook wave pattern here. For academic purposes, this is the best chart to learn rules of EW on. At least for the short term we have another Micro wave up. I think the minimum target is 8540 for the next day or so. So let's go through a recap to figure out how we got here. The Wave B of Wave (iv) gave us an expanded flat which implies...