LONG term BTC short opportunity
Updated
If we examine the fundamentals behind BTCUSD, we see something ugly.
You have to open your mind to understand, BTCUSD has never truly retraced as much as it has needed to, to get the momentum necessary to break our long-term target of 12k.
In the above chart, my full sequence Elliott Wave theory is probably a mile off.
I am still a very, very new trader to this market. I aspire to be anywhere near as good as some of the traders I follow.
The RSI on the 12H is showing a huge momentum is needed, and soon, to maintain temporary uptrend.
I do not, however, think the uptrend will continue. We haven't even gotten close to the
12K resistance since the last time we bricked off it.
I SUSPECT, we are going to test it within the next few days to a week. There is a reason my Elliott count stops where it does.
When we get to the $11,500 to $12,000 resistance, I suspect we STILL won't have enough momentum to break through.
Why?
We need the average Joe, who was scared off during the correction, to come back.
We NEED their money, period. This means BTCUSD has to hit a price that is quite literally too good to be true.
Remember all the bears a while ago saying we were going to 3k,
4K, 5k, etc?
I suspect they were right all along, but because there is a lot of greed in this market, we haven't hit it yet.
But we will. I'm positive of it. If we don't crash and burn now, so the Phoenix can be reborn, it will happen at a later date, scaring off a LOT more people.
So, who will win this fight? Temporarily, the bulls I suspect, but it won't last long.
The bears are about to take control of this market for the very last time, and off we go to start the 2018 Bull run.
Good luck and happy trading!
You have to open your mind to understand, BTCUSD has never truly retraced as much as it has needed to, to get the momentum necessary to break our long-term target of 12k.
In the above chart, my full sequence Elliott Wave theory is probably a mile off.
I am still a very, very new trader to this market. I aspire to be anywhere near as good as some of the traders I follow.
The RSI on the 12H is showing a huge momentum is needed, and soon, to maintain temporary uptrend.
I do not, however, think the uptrend will continue. We haven't even gotten close to the
12K resistance since the last time we bricked off it.I SUSPECT, we are going to test it within the next few days to a week. There is a reason my Elliott count stops where it does.
When we get to the $11,500 to $12,000 resistance, I suspect we STILL won't have enough momentum to break through.
Why?
We need the average Joe, who was scared off during the correction, to come back.
We NEED their money, period. This means BTCUSD has to hit a price that is quite literally too good to be true.
Remember all the bears a while ago saying we were going to 3k,
4K, 5k, etc?I suspect they were right all along, but because there is a lot of greed in this market, we haven't hit it yet.
But we will. I'm positive of it. If we don't crash and burn now, so the Phoenix can be reborn, it will happen at a later date, scaring off a LOT more people.
So, who will win this fight? Temporarily, the bulls I suspect, but it won't last long.
The bears are about to take control of this market for the very last time, and off we go to start the 2018 Bull run.
Good luck and happy trading!
Note
Currently live-streaming LIVE and FREE TA for anyone that would like their favorite coins TA'd. Anyone interested, please pm me for the link as I cannot post it here.Note
BE CAREFUL!Note
Bull flaggggggggggBE CAREFUL.
Either way, in about 30-60 minutes, we should have an answer..
Note
Note
Not only did this idea get knocked off the front page of BTCUSD, it's outright gone from the 2nd, 3rd, etc pages too.Hmm. Someone doesn't want people seeing my idea.
Musta done something right ;)
Note
UPDATE
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