So here's a bigger picture to present one possible scene how this might play put in 2018. One of many theories. I wanted to publish this to point out that even going as high as 14k wont make us 100% out of the bear market. Because this doesnt invalidate any rules of Elliot wave WXY, WXYZX counting. Well this was not the point. Getting to the point and to keep it short.
We confirmed the breakout from the falling wedge. This means that on swing trade perspective, we are going to go up. Can we now say goodbye to 5k? Hell no! :). It will come but not just yet. First we have to make some money and once again enter to a very profitable short position from 8k(ish).
Then to my position and targets on XBT , BTC
Im currently long from 6250 and i am fueling more to my long position if and when we dip to 6100-6200 levels (6175 to be exact). We should eventually go to 8k but there should be atleast 1 very good flipping point and it should be in 7420 (bitmex). Once again ill keep you posted :D
TARGET:
7420
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There is 3 targets described in the snapshot. Now there is multiple ways to play this swing. Ill add few:
1. You aim straight to 7420-7425 (or even to 8k). Less risky 2. You close your long at 6850 and short to 0.5 fib at 6310 and flip to long there. 3. You close your short at 6310 and let it bounce up to 6400 levels and enter short again with stoploss at as high as the short entry as 6850 and ride to 6170 to get the next bounce and so forth 4. You do the nr 2 but try to spot the wave A and estimate the wave C and aim your short according to that ( my play is this)
And also target update for more swing flips: Target update ( in that order) :
To make it simple. Less riskier way is to aim to target 3 or even 5. Aint doing that. Ill tty to catch them all
Comment
Target 1 hit at 6820. Im short again. Oh yeah! Ill update targets in next 8 hours
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Target update ( in that order) :
Target 1: 6850 (hit 6820, closed and flipped to short at 6815). Should still go to 6870 . Irrelevant to me now. Target 2: 6150 Target 3: 7425 Target 4: 7050 Target 5: 7950
Comment
Target update ( in that order) :
Target 1: 6850 (6820 hit!) Flipped to short Target 2: 6290 ( i close position at 6350 levels) Target 3: 7425 Target 4: ? (Probably 6900-7000) Target 5: 8000
Comment
As posted earlier. We are totally killing it again! Oh yeah. I closed my position and as posted before in our discord i also started to fill my longs. Last filling point at 6190( probably will go lower but thats sufficient rr for me entering there and aiming for the 7400 levels
Target update ( in that order) :
Target 1: 6850 (6820 hit!) Flipped to short Target 2: 6290 ( i closed position at 6350 levels and started filling long at 6324,last filling station at 6190, so hit!!) Target 3: 7425 Target 4: ? (Probably 6900-7000) Target 5: 8000
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Target update ( in that order) :
Target 1: 6850 HIT! (Flipped to short at 6815)
Target 2: 6290 HIT! ( i closed position at 6350 levels and started filling long at 6324,last filling station at 6190)
Sorry, forgot to update targets from discord here. Im currently short since there where nice optimal entries where one already hit. These hits are not fake as people who follow us in our discord group knows very well.
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