Bounce Zone Incoming
Updated
Its going according to the wave counts so far but something about this bounce off 9.9k don't look that right to me. The indicators aren't telling me much apart that we are indeed near the bounce zone. But the candle don't look that right to me and there might be a little more room to squeeze so likely I am guessing here we will see 1 more red candle to 9.5k in order to complete wave 3. And then we finally start that bounce off to 12.8k and complete wave 4.
I am going to keep this idea neutral since it can be either a short or long here depending how you want to play it. But if we actually see BTC red candle shot through 9k without bouncing here... don't over panic yet, 8k should be supported and it just means that we have an extended wave 3. Of course if we all the way down to 6k without ever doing that bounce... you may want to panic then. This is just a short progress update, good luck and stay safe!
PS: Note that my buy target box is meant for the end of wave 5 and not this wave 4 bounce. Don't read wrong. I'm poor, can't afford pro so can't save multiple clean charts =(
I am going to keep this idea neutral since it can be either a short or long here depending how you want to play it. But if we actually see BTC red candle shot through 9k without bouncing here... don't over panic yet, 8k should be supported and it just means that we have an extended wave 3. Of course if we all the way down to 6k without ever doing that bounce... you may want to panic then. This is just a short progress update, good luck and stay safe!
PS: Note that my buy target box is meant for the end of wave 5 and not this wave 4 bounce. Don't read wrong. I'm poor, can't afford pro so can't save multiple clean charts =(
Note
15 mins and 30 mins indicators still showing bearish. Bulls have to break above $11500 in the next 15 mins otherwise we are going down again. The only bullish signs are in the 1 min, the 5 mins is saying either way. I'm still leaning on the bear side, that we need to go down to touch 9.5k before bouncing upwards on wave 4. This current bounce is looking to be premature.
Note
Waiting on 10400 to break completely so we can go lower down. Just a matter of time, I believe. This 1 min chart is what I am looking at to get real time confirmation, but note that it is not a real triangle. Just the result of some shabby TA to identify what the market is thinking in the short term.s3.amazonaws.com/tradingview/snapshots/0/0sDrBqNH.png
Note
Shitty 1 min TA worked! Look at how the price is supported by the support line and how we go down hard once it broke? Welcome to the world of shitty TA where drawing a line is all you need! Sorry, I'm just annoyed at ppl mocking me when I give insights from a 1 min chart in real time. s3.amazonaws.com/tradingview/snapshots/v/vMwLYUge.png
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Some bullish divergence are starting to show up, very slight. We are for sure near the inevitable bounce zone, just needing confirmation as prices comes in.Note
We bounced off $9775, need higher timeframe confirmation but 1 and 5 min is showing entry point. From here, you are on your own with your trade. Whether you want to go long or close your shorts. Remember the risk you on the long, and the peak of this bounce.Note
Tip appreciated for shitty TA. Need to buy new diapers.BTC: 16VhzB59twANDvinuWzGJqdNWor9b9Uym2
LTC: LgegoiHGwN8UmoobmSn69nrDU3fvjTuudp
ETH: 0xA21844A23d6C18384101E67313C1260449F5cbf2
Note
Oh I forgot to mention about time frame. In terms of this bounce to 12.8k, do note that it will take roughly 3-5 days to arrive there and subject to buying power. But wave 4 is known to stall so 5 days is pretty realistic. From the market perspective, it will look like a side way market with very little volume. Good luck and stay safe! I won't be updating this idea anymore. 15 mins and 30 mins have confirmed the hidden bullish divergence, so we are good on the bounce. Just that buyers need to absorb the panic sell, especially every time we break under 10k. Market sentiment is beyond TA.
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