8.4k BTC, enough stalling
Updated
This has been a pretty flat correction, but there is not enough momentum to bring the market further up. There is still a mild possibly that the bulls will go ahead for a 10k touch (don't see that happening), but that's basically just... sell more shorts. There's definitely bullish signs in the longer time frame, but that's the longer outlook. The immediate outlook is more bearish as we are still in the correction ABC phase. And only when we finish it, can we actually see whether the bullish momentum is there. So that's what people means by we need to go down to test the support, and we do that by going lower.
I have included the EW to give an idea of the market movement for the next few weeks. Have fun and enjoy the ride down! If you're looking to long, you can refer to the two blue boxes. The chart is messy, I'm lazy to clean up but the idea is there.
Disclaimer: I have a sizeable short from 9.3k. And I'm always open to increasing my trading account size with tips, if you wanna say thanks afterwards =) My only advice is, not to aim for full profits but instead secure profits along the way down. Cheers!
I have included the EW to give an idea of the market movement for the next few weeks. Have fun and enjoy the ride down! If you're looking to long, you can refer to the two blue boxes. The chart is messy, I'm lazy to clean up but the idea is there.
Disclaimer: I have a sizeable short from 9.3k. And I'm always open to increasing my trading account size with tips, if you wanna say thanks afterwards =) My only advice is, not to aim for full profits but instead secure profits along the way down. Cheers!
Note
Just an update since Wave 1 didn't fall as sharp as I anticipated, good chance to add shorts here for a sweet swing since wave 2 peaked really high. I double checked the momentum and everything seems set for wave 3 to begin soon. Enjoy the ride down =)s3.amazonaws.com/tradingview/snapshots/8/8phCNqsX.png
Note
Oh that's weird, you can't embedded image like before hmm.. oh well. Click on the link I suppose for the chart. Opps... probably should stop publishing ideasNote
That chart in my link, the excited market extended wave 3 twice. So it looks like the top was achieved but its still missing a wave 4 and 5. Will take a couple more hours, but should still end around 9350. I doubt we will see the extended wave 5, it will likely be truncated, thus that price target for the top.The beauty of real time trading =) Can't predict the time table, but the trend is always true.
Disclaimer
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