Hey everyone,
So I shorted way to early, but planned for an extended fifth wave. Anyways can't always get it perfect. About to enter a long position. (start to ladder at the fib .50) If the whales are out to play this weekend watch out for the bull traps. At this point be ready for anything. good luck trading Gitsum!
Looks like we have completed the 3rd cycle of the elliott count. Plan is the short the forth leg. Plan to start leveling in between (0.236 - 0.618 fib retrace) After that long position for the last and final 5th wave. I do believe this weekend is going to be ugly. Won't be surprised if there is a major ABC correction after this elliott count completes. Good luck...
Update on my position and how I plan to play the ABC
Short position:
actually got in.
@ $4350 and double position @ $4354
Here’s the plan.
Start leveling back in prior to golden zone
:) Cheers!
First Short of the day - Here we go!
Confluence on RSI and MACD
RSI is starting to get over bought
MACD about to crossover
both show convergence
Time to buckle up!
short position:
started leveling in @ $4400 - $4475
- set limit just above 0.236
BE Cautious we are Heading into Bull Trap territory.
Placed a pitch folk on current swing low to high.
About to complete 3rd leg of elloit count.
One more push to hit the median line.
confluence at the pitch folk median line and $4512 prior support
confluence of the median line and the orange 55 EMA
We got a lot of resistance head.
Hello everyone this is my first publish idea.
Welcome and thank you for taking the time to checkout my technical analysis.
Okay let's get started:
Good support points $8,150 @0.618 Fibonacci Retracement
Hard resistance points: $11,700-12k
Great time to buy bitcoin.
Buy in $9,596
stop limit: $9,175
take profit at resistance points.
Very bullish for now....
