Check my other TA... Major Pivot here. Closed Shorts...Opening Long.
Very simple layout of the BTCTHB Double WXY Correction. When you have more information you can make more accurate projections. I will update with new movements. Cheers!
The symmetrical algorithms have performed to create a repeating correction pattern that is very obvious. All lines lead to the confluences at the same point. Head and Shoulders has confirmations as well to follow the channel and pitchfork to a Golden Pivot.
There are plenty of ideas surrounding BTC and theory about expectations. My view is standard from accumulated information, chart patterns, historical corrections from more established currency historicals (Forex). I am not attempting to cause any harm to the Bulls or anyone that may be in a Long with this view. My TA here is to point out that there is a solid...
Thai Baht is close to Bitstamp and a number of other crypto exchanges. EW count projects a current Subwave track in Wave 4 counter trend. Pitchfork median line and and historical support levels indicate the projected path to the end of Y. It's not relative to make projections past wave Y. Swing Traders, Day-Traders will take this pivot. The algos will surely...
BTC remains in a dominating correction trending to the downside. This weekend expectations are for a counter-trend up tick as algos will be selling the fibs. Swing traders will have taken the prior pivot and/or the B swing trade. Wave C to the X offers pip gains and another Short from the top. Ultimately this is viewed as a Bull Trap from the algos and long...
There's always clues to the puzzle that reveal themselves over time. One of the key indicators in BTC rhythm is the WXY and Expanded Flats. Here we can cleanly see the A/B Dump and an expectation for a Zig Zag on the larger scale. Of course there's the possibility that the bottom of this retrace is in, as it found some noteworthy Fib levels. The larger picture...
Historical Support/Resistance and SHS confluence suggests a possible failure at the prior benchmark. Caution is suggested for all traders now. Should the impulse wave fail, we look to add another X to the WXYXZ and retracement.
I'm not going to get into much about STRAT. IT's going to follow Big Brother and here are the targets. Cheers!
BTC has made a modest return from a full correction. The first wave series back was modest but provided followers with hitting a bottom at the 6k level. Currently completion of a WXY wave correction has a projection and first target of $9.5k. Not likely that this level is exceeded in my opinion. I have a second target as well. The First move up will prove...