It would seem that all is doomed and hell is about to let loose all of its passionate fury over the faces of every crypto trader out there, but never fear because the reversals are here!
We are currently in wave “D” of the correction phase from the inverse set of Elliott Waves that started on 5 May 2018.
I am expecting that this wave will take us to around $6150 and will begin its ascent once again to complete the inverse H&S that is currently tempting us with its thumb up, a slight skirt raise and biting its lower lip looking like it is beggin us to hitch a ride.
Possible actions:
Living Dangerously:
Buy: $6150
Stop Loss: Close below $5875
More Conservative:
Go Long @ a close above $6850
Remember, don't drink and trade...always ask someone to hold your beer first!
We are currently in wave “D” of the correction phase from the inverse set of Elliott Waves that started on 5 May 2018.
I am expecting that this wave will take us to around $6150 and will begin its ascent once again to complete the inverse H&S that is currently tempting us with its thumb up, a slight skirt raise and biting its lower lip looking like it is beggin us to hitch a ride.
Possible actions:
Living Dangerously:
Buy: $6150
Stop Loss: Close below $5875
More Conservative:
Go Long @ a close above $6850
Remember, don't drink and trade...always ask someone to hold your beer first!
Note
Looks like the target was hit. Now all we have to do is crack open a cold one and watch that big booty bounce!Note
Keep an eye on your MACD, Stoch and RSI.MACD is approaching a critical point with a falling stoch, but the RSI is leaning on the 40 mark, which has proven to be a resistance and support level in the recent time.
Trade closed: target reached
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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.
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.