180829 Everything is pointing $7.3K
Updated
It was a boring sideway market for a while.
I am a quite lazy person who cannot post everyday in eng public forum in my summer vacation period :D
Anyway, back to the chart, I think most likely we got rejected really hard at $7,280~$7,350 (and put some short order at that level)
I managed to hold in the channel, but 4hr chart RSI implies we are going down to hell after one more little wave up.
I don`t want to show you EW counting on current situation, cuz actually it is useless in current spot.
I would rather use ABCD pattern + R3 in pivot point + next resis level
On the long term view, It might go to the long term trend line(red one) around 20% ish?
But, even if we got there, it most likely go down also...
Let`s see in bigger frame
There are 2 EW counting
#1. (most bearish people think)
This counting shows correction is finally END!! in $4.8~4.9K
#2.(Devil`s scenario)
However, If I were whales who want to get CHEAPEST btc, I really try to make this,
In this case, next stop might be just below 5K and will not go lower than $4,850
If we break down $4.850, this blue counting will be invalidated
I keep contending #2 scenario.
The reason is very simple:
These whales are merciless, cruel, and want to kick out 95% individuals
If you want to make money, you have to think like a devil :D
I am a quite lazy person who cannot post everyday in eng public forum in my summer vacation period :D
Anyway, back to the chart, I think most likely we got rejected really hard at $7,280~$7,350 (and put some short order at that level)
I managed to hold in the channel, but 4hr chart RSI implies we are going down to hell after one more little wave up.
I don`t want to show you EW counting on current situation, cuz actually it is useless in current spot.
I would rather use ABCD pattern + R3 in pivot point + next resis level
On the long term view, It might go to the long term trend line(red one) around 20% ish?
But, even if we got there, it most likely go down also...
Let`s see in bigger frame
There are 2 EW counting
#1. (most bearish people think)
This counting shows correction is finally END!! in $4.8~4.9K
#2.(Devil`s scenario)
However, If I were whales who want to get CHEAPEST btc, I really try to make this,
In this case, next stop might be just below 5K and will not go lower than $4,850
If we break down $4.850, this blue counting will be invalidated
I keep contending #2 scenario.
The reason is very simple:
These whales are merciless, cruel, and want to kick out 95% individuals
If you want to make money, you have to think like a devil :D
Note
It managed to hold B point in ABCD pattern ($6,900)
Therefore, it is more likely to go up till at least $7,180+
(My order is still $7,270~$7,310 though)
Note
time to go up
Note
I will short at 7,300 or 7,500
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