Dear Friends And Followers :)
Yesterday I told you about Bitcoins dilemma - And that indecisiveness from Bitcoin is indeed what we have been witnessing the last couple of days. He has a had a really hard time finding out, what he want's to do!
But now, ladies and gentleman, Bitcoin will be forced to make a decision very soon. To explain why, we we will now take a look, at the 4h BTCUSD Chart. As you can see, we have been going sideways for more than 48 hours. And once again, it is understandable. We have huge resistance at 9,000 USD and 9,200 USD (red lines).
We have already tried 3 times to go through that zone of confluence resistance, but 3 times have the bears rejected the bulls.
Its pretty obvious what the bulls want. They really want to make that 5th wave extension to around 9,4xx USD, which is equal to a 423,6 % (!!) extension of Wave 1. Yes, the bulls seem greedy - already now they have an almost 361,8 % extension, but the bulls obviously want more.
Let's see, if they get what they want. I will here give you the 2 scenarios:
1. The bulls have to make a decision soon. As you can see we are in ascending wedge in purple. I would say that they probably have 8-10 hours before we will reach the wall, and then they have to do something. The ascending wedge is bearish pattern, which normally predicts we will go down. Even though the RSI is almost overbought, we have seen, that the bulls are not afraid of that.
I want you take notice of my brown circles. As you can see, we have 2 times before just in time got that needed pump from the bulls, so it might very well happen again. It could be one more bear trap, and we would reach our Extension target.
2. Under normal circumstances, we would go down from here. We have finished our 1-5 EW-structure with huge extensions on the 3rd and 5th wave, and the RSI is high and MACD shows signs of the bulls are losing momentum. And then the super strong resistance right above our head. The next target would therefore be around 8,5xx-8,400 USD, which probably would be the end of Wave A.
So now what? This is still super hard I would say. We still don't have a clear confirmed direction, so if you are not an experienced day trader, I wouldn't enter a position yet. And again: Please don't make leverage trading in this market - the whales are liquidating the smaller fish again and again.
Yea, so to those of you who are saying, yea, it can obviously go up or down, how hard can it be hard to predict. Just remember, most of the times, we will not enter a position. We just want the ideas in our head, and first when we get the needed confirmation, we can enter a position.
So wait for confirmation, guys, and in the meantime take a look at the Altcoin market, which is blossoming :)
Love from D4 <3
Always a pleasure to help you guys - And thanks for all the nice PM's I'm getting all the time. Please leave a like, and a comment - it would encourage me to make some more free content for you guys - Thx :)
Yesterday I told you about Bitcoins dilemma - And that indecisiveness from Bitcoin is indeed what we have been witnessing the last couple of days. He has a had a really hard time finding out, what he want's to do!
But now, ladies and gentleman, Bitcoin will be forced to make a decision very soon. To explain why, we we will now take a look, at the 4h BTCUSD Chart. As you can see, we have been going sideways for more than 48 hours. And once again, it is understandable. We have huge resistance at 9,000 USD and 9,200 USD (red lines).
We have already tried 3 times to go through that zone of confluence resistance, but 3 times have the bears rejected the bulls.
Its pretty obvious what the bulls want. They really want to make that 5th wave extension to around 9,4xx USD, which is equal to a 423,6 % (!!) extension of Wave 1. Yes, the bulls seem greedy - already now they have an almost 361,8 % extension, but the bulls obviously want more.
Let's see, if they get what they want. I will here give you the 2 scenarios:
1. The bulls have to make a decision soon. As you can see we are in ascending wedge in purple. I would say that they probably have 8-10 hours before we will reach the wall, and then they have to do something. The ascending wedge is bearish pattern, which normally predicts we will go down. Even though the RSI is almost overbought, we have seen, that the bulls are not afraid of that.
I want you take notice of my brown circles. As you can see, we have 2 times before just in time got that needed pump from the bulls, so it might very well happen again. It could be one more bear trap, and we would reach our Extension target.
2. Under normal circumstances, we would go down from here. We have finished our 1-5 EW-structure with huge extensions on the 3rd and 5th wave, and the RSI is high and MACD shows signs of the bulls are losing momentum. And then the super strong resistance right above our head. The next target would therefore be around 8,5xx-8,400 USD, which probably would be the end of Wave A.
So now what? This is still super hard I would say. We still don't have a clear confirmed direction, so if you are not an experienced day trader, I wouldn't enter a position yet. And again: Please don't make leverage trading in this market - the whales are liquidating the smaller fish again and again.
Yea, so to those of you who are saying, yea, it can obviously go up or down, how hard can it be hard to predict. Just remember, most of the times, we will not enter a position. We just want the ideas in our head, and first when we get the needed confirmation, we can enter a position.
So wait for confirmation, guys, and in the meantime take a look at the Altcoin market, which is blossoming :)
Love from D4 <3
Always a pleasure to help you guys - And thanks for all the nice PM's I'm getting all the time. Please leave a like, and a comment - it would encourage me to make some more free content for you guys - Thx :)
Note
THIS is going to be super exciting, guys! Let's take a closer look - A few people out there, were telling me, that there were no dilemma or indecisiveness here. Look at the small, petite bodies.We are very soon close to the purple wedge wall, and we will definitely see some firework here!!
We still don't have a clear direction, and I can see, that other top authors and on Twitter too, that they don't feel comfortable giving a clear direction yet.
I promise to follow up on this, guys! Please leave a LIKE - Thank YOU so MUCH for your support <3
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Moment of truth, guys!! We just touched the purple wedge. And on the 2h we are just outside and are dropping a bit. Under normal circumstances we will just drop t to 8,5xx.But there might be bear traps out there, as we have seen before. Be aware of that. It's really intense at this moment, and everything can happen.
I'm not entering a trade at this moment!
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SHOW THEM ELLIOT WAVES!Note
9k soon!!Note
Adjusted Elliott Waves a bit - made them pretty quickly! But we should hit the yellow circle very soon. Almost 9,000 USD. I hope it's not too confusing, otherwise just ask - I'm here to help.
D4 is here for you <3
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9,000 USD Exactly AND THEN CRAZY SPIKE RIGHT AFTER!!This is CRAZY!! I will follow up on this... Pls give a LIKE!!
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Pretty crazy!! So after drawing the Elliott Waves for you, I predicted we would reach 9,000 USD. When we ONCE again fell out out of the purple ascending wedge and hit the brown circle, I thought by my self that it might happen again.A sick SPIKE. I wrote on Twitter to Philakone that I was convinced we would hit 9,000 USD, but both he and I was unbiased hereafter.
You can obviously not gable on these crazy spikes made by whales, but I had the feeling.
We have huge resistance at 9,2k right now, but it must be a matter of time before we break through. The only reason I can't see it happen is if the whales are gonna try to LEVEL us, and try to liquidate some longs.
I told you guys!! I promised you FIREWORK and YOU INDEED GOT IT :)
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So we have found support on 9,205 USD. It's gonna be a struggle for the bulls to make the last extension. RSI is totally overbought on all time frames.But the bulls have surprised us before.
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C'mon! Of course the bulls gonna win that last battle now - An overbought RSI.. blah! - Let us get that 423,6 % extension now we are so far.Remember to take a look at my altcoin signals too. And remember to leave a LIKE, my friends :)
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Mission accomplished! 9,350 USD - Where is my trophy? Give me a belt like the one you get in UFC or in boxing? A Gold Medal? A diploma?Ok, just give me a LIKE then!
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The update is here, my friends. BITCOIN-BULLS: Unstoppable, Unscrupulous and Unsatisfied!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.