3rd Roadmap update.
Updated
Based off the first Painting of the roadmap publicly back last March. I have updated the plot back in November - so here's the 3rd variation.
Let's start back last March with this;
The extension levels pointed towards the $62,500 level. This was targeting the weekly 3 for a drop down to 28k territory. This was shown in the "they blew up the rocket" post.
On the move back up I had explained in August why we would only see a move up shy of $70,000. This was first highlighted as another Elliott extension with a low volume move up confirming this;
Extension level in September
Fast forward a month;
The interesting thing here is that Bitcoin is becoming ever more institutional - Following the COT data we can see still huge short positions; this plays perfectly into the monthly 4 move. I covered this in the COT post;
Then we neared the extension level; distribution started to show it's hand AGAIN;
I updated the main Roadmap in November with this post;
As we neared the top of the move: the value area range showed more signs for the coming drop.
As I covered in the last couple of streams - We are now midway through the 0-A with 2 distinctive options showing their hand. You have to keep in mind this is Monthly; until the COT Leveraged funds start to tip the scale; expect the low volume move; profit taking and accumulation hand in hand.
Have a great week!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Let's start back last March with this;
The extension levels pointed towards the $62,500 level. This was targeting the weekly 3 for a drop down to 28k territory. This was shown in the "they blew up the rocket" post.
On the move back up I had explained in August why we would only see a move up shy of $70,000. This was first highlighted as another Elliott extension with a low volume move up confirming this;
Extension level in September
Fast forward a month;
The interesting thing here is that Bitcoin is becoming ever more institutional - Following the COT data we can see still huge short positions; this plays perfectly into the monthly 4 move. I covered this in the COT post;
Then we neared the extension level; distribution started to show it's hand AGAIN;
I updated the main Roadmap in November with this post;
As we neared the top of the move: the value area range showed more signs for the coming drop.
As I covered in the last couple of streams - We are now midway through the 0-A with 2 distinctive options showing their hand. You have to keep in mind this is Monthly; until the COT Leveraged funds start to tip the scale; expect the low volume move; profit taking and accumulation hand in hand.
Have a great week!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Comment
Discord Server for education and advanced techniques: discord.gg/5t3w47raHe
Masterclass Webinar: mayfairtradingevents.com
Prop firm partners (FTMO)
shorturl.at/hBEQ4
Masterclass Webinar: mayfairtradingevents.com
Prop firm partners (FTMO)
shorturl.at/hBEQ4
Related publications
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.