BTCUSD, buying the dip
Updated
Still in range, 2 corrective legs down. Bigger picture should at least finish 3rd leg in bullish trend at 13k. Fifth leg finishes around 16k.
Risk is now limited. Full moon pisces (strengthening of illusion) dump, tomorrow waning moon in aries (diminished movement (of dump)) -> consolidation, bart up + continuation trend.
Risk is now limited. Full moon pisces (strengthening of illusion) dump, tomorrow waning moon in aries (diminished movement (of dump)) -> consolidation, bart up + continuation trend.
Note
It should cement a support here, then going up. Looks good so far. This gonna take a while.Monthly looks ugly, so probably a good idea to bail out if it doesn't break out towards 13k near the end of the month otherwise a stop below last low depending on liquidity or wait to get support tested as resistance, in case we go lower (9.7k or 9.3k), although that should not happen, if it does, it would be bearish and first sign that the trend changed.
As for now, I don't see or feel bearish circumstances. Also, many alts look unfinished (eth for example should go to at least $570). When everything pumped, tron and some others pumped, which didn't happen before.
Anywho, this coming weekly close should preferably be above the daily range low 10.9k, which I think it will, to consolidate more so alts can run.
Order cancelled
This idea failed. Count was totally off and contrary to higher timeframes and big picture, by doing the counts on 4h timeframe which got overriden in a single daily bar. Also, the chart layout is fubar, probably because it wrongfully resized from ultrawide screen. Will post a new idea that is complete.In short, not satisfied with this publication at all.
The new one, like in picture below, looks and feels right.
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.