Bitcoin - Elliott waves | Gann | Planetary Aspects $BTC
Bitcoin is approaching the median between two Gann levels, while the Elliott count shows 5 waves to the upside (green count), coming to a completion.
The blue box is the 50-60% retracement area of the entire previous wave. The 20 day MA (green MA) is another element that may provide resistance.
Uranus will form a trine with natal Saturn on 24 SEP. Not a major constellation in itself, but Uranus has special importance for BTC in general so that we may watch out if bearish momentum unfolds.
Should price consolidate below the red diagonal trend line, this will be very bullish. However, statistically a wave (1) retraces at least 60% so that we should rather expect an ABC correction back to the 41884 Gann level, which then presents another opportunity to build long exposure.
Another idea is to stay out of the expected twists and turns, and sell option premium for income until we can forecast an expansion of volatility again. If you’d like to trade options, you can use the link below to get a discount on Deribit, the largest (=most liquid) crypto options platform, but any other exchange will do as well if you take care to trade only the most liquid expirations and strikes.
Correlations: Watching the QQQ for a potential bearish reversal is important today. When markets are in fear, they correlate.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
Get a 14 Days Free Trial: constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
deribit.com/reg-14912.6680
Binance - 10% off trading fees with this link:
accounts.binance.me/en/register?ref=LLBB97HL
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
The blue box is the 50-60% retracement area of the entire previous wave. The 20 day MA (green MA) is another element that may provide resistance.
Uranus will form a trine with natal Saturn on 24 SEP. Not a major constellation in itself, but Uranus has special importance for BTC in general so that we may watch out if bearish momentum unfolds.
Should price consolidate below the red diagonal trend line, this will be very bullish. However, statistically a wave (1) retraces at least 60% so that we should rather expect an ABC correction back to the 41884 Gann level, which then presents another opportunity to build long exposure.
Another idea is to stay out of the expected twists and turns, and sell option premium for income until we can forecast an expansion of volatility again. If you’d like to trade options, you can use the link below to get a discount on Deribit, the largest (=most liquid) crypto options platform, but any other exchange will do as well if you take care to trade only the most liquid expirations and strikes.
Correlations: Watching the QQQ for a potential bearish reversal is important today. When markets are in fear, they correlate.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
Get a 14 Days Free Trial: constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
deribit.com/reg-14912.6680
Binance - 10% off trading fees with this link:
accounts.binance.me/en/register?ref=LLBB97HL
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
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.