Long

Updated

Bitcoin, Be Gone With The Chop; Wave 3 May Be Upon Us.

Over the past months, we've seen Bitcoin undergo some well-deserved corrections.
Most people thought it'd go down with a vengeance, it didn't, but the chop has been much more painful to many.

Is the bottom in? It might be! It certainly isn't the moment to panic sell your way out; if you haven't sold already, you don't do it here either.
Downward pointing triangle, forming a perfect ABCDE structure.
Extremely bullish fractal ones again...; it also fits my projected 5/3/5 count.

-- I was happy to see orders filled around 8000 last night, but I've got some more orders placed down to 7000.

Profit targets are laddering out 10% of my hand at horizontal resistance up until ATH, and I'm keeping 50% of my hand for the long-run.

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added 7000 and 6000, exited all ETH/OMG and BTC margin positions at 8400-ish yesterday.

Still got some spot, I still see the possibility of a lower low now.. closer to the apex.
So I rather buy back after confirmation, even if that's higher.

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could bounce hard from here. Longed some at 8050

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Added 9100, first target 10300ish.

10k got smacked down unexpectedly, let's see if we hold here.

Trade closed: target reached

Target reached, expecting it to go into the low 9000s.

Wave 3 can't be the shortest, therefore, I don't expect the upcoming wave to reach too far before correcting some. However, these are subways, trading these is not for everyone..

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subwaves, kek.

Trade closed: target reached

Call me weak hands, closed all remaining long-standing positions between 11,5 - 11,7k.

I did open a small margin position at 10,900 with as profit target 11,400-11,500.

Bitcoin is feeling extremely toppy here if you thought this little correction was a heavy wait for what happens when we bear wick above 12k straight down to total capitulation.
I'm not saying it will, but I am saying that it could.

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Houston do we have a bounce?
Added at 10.7.

Amount of longs opened in one hour candle compared to 6k

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This is the chart I've been using to try and scalp this chop. Better to keep your hands off for now.
Yellow = neckline, white is projection.

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Looks like this small iHS has been rejected.
Small battle for a small bounce, not worth risk reward.

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Most bullish scenario.

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Scaled in between 9050 and 8300 last night.

Full, retrace of that one minute dildo, downtrend lines now meat with less significant horizontal resistance.
For now, my second target is 9650 after which I will be mostly on the sidelines for a little while.

Trade closed manually

meet* xD

Chart closed now.

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The raw prediction of bounce and sell zones in of Feb 24 worked out just fine.
As time has elapsed the yolo zone will need a real cataclysmic event.

A bull wick below 7k into the bounce zone seems like a long entry, let's see if we even get there. chop chop chop
:popcorn:

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There we go, didn't go below 7k before the first bounce, but it did now.
Will it turn into a bull wick? Less likely so, but would be some quality fuckery.
:popcorn: ChopChop

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Looks like 5370 is a meme now as this one played out.
Broke out with volume and anger. Minimal target 7.7 - 8k

Trade closed: target reached

Sweet corn.

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As expected some profit-taking happening here.
If profit takers, including me, are punished and short sellers proof unable to make significant profits on the next move--- that would be bullish in my book.
I will consider a buy above 200MA.

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twitter.com/NewsCrypt0/status/1021309291003817984

He is long, but who can punish this seemingly obvious move?

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It looks like they tried and failed, 7.8k bounced as expected.
Above 200MA still seems like a good entry too.

Was it reaccumulation all along? Maybe, but it doesn't look like enough fuckery has occurred yet. Wave 2 is often far stretched filled with chop and trading ranges for new operator hands to accumulate. --- The above eye recking chart is a possibility, not a prediction.

RichiRichi

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RichiRichi

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