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USD/MEXSo, Umex appears to be in a corrective structure considering its pattern. I am just pointing out that as I type this, it is rejecting equal length at the .618 fib level as it has broken out of pitchfork. It does have the possibility of extending to that 1.236 level considering this wave's trend line (which is questionable in my opinion) and still being within the potential pattern. The idea here is if it makes a complex "B" wave as these pairs usually do, then that would be a very large trade to the downside. But keep in mind the very large zone I am pointing out up to that 1.236. However, very strong level right now. USD news in about an hour. Although, this is some high time frame stuff, so know that.
Short
by thillygoosth
Fearful Bitcoin-Bulls Retreat After Intense Fighting - Now What?Good Evening, my friends! :) D4rkEnergY is live from Seoul - 2 AM - with another Bitcoin update for you guys! I have been long the last 3 days, and Bitcoin has also gone up. I warned you about exactly 8,640 USD, which IMO was a really crucial hurdle to go through. We got rejected 2 times really hard at around 8,635 USD. The fearful bulls had to retreat after intense fighting with the big brown and greedy bears. First of all, let me stress, that I'm still super bullish on Bitcoin mid-term. When many people were calling 7,200 USD, I told you, that we probably would be surprised and get a reversal before. And I'm still convinced, that we very soon will go into a bull market. As it looks now we probably have to take detour though. Yesterday I mentioned a possible WXY-combination pattern if we got rejected at 8,640 USD - and it seems like we have to go lower now before we can try another attempt to go into a reversal. Please pay attention to the Hidden Bearish Divergence on both MACD and RSI, which is a continuation pattern, which predicts we will continue lower. Also a Bearish MACD-cross is on its way. It means that the bulls have lost their momentum. So as you can see we have 2 scenarios. A bullish 20 % scenario, which means that we have to sideways for a while, and with some kind of help from whales we might make some kind of spike - have seen something like that lately with similar patterns. I'm 80 % bearish at this moment, which means, that we will go through the dotted uptrend line eventually, and then down in the green box around 8,070- 7,560 USD- Most likely in the 7,750-7,650 USD area. Hereafter we can expect an uptrend again - I promise to keep you updated! D4 Loves You <3 As always: If you like what I'm doing please give a LIKE - It is much appreciated :)
BITFINEX:BTCUSD
by D4rkEnergY
98
BTCUSD expanded flat ABC correctionDear Traders, This is my first idea and I hope to receive many comments in order to discuss together what is going on with BTC. Since I got lost when we where at 9k levels, I went back to my book and I feel like we are going to see and expanded ABC flat correction for my primary wave 4 . In expanded flat corrections with pattern 335 (abc,abc,12345) wave (B) goes beyond the beginning of wave (A) and wace (C) goes down more than the end of wave (A). So if we are in this case, we should go down to level 8400 usd. Please comment below your thoughts and ideas. This is not financial advise, it's only for discussion purpose.
KRAKEN:BTCUSDShort
by UnknownUnicorn1896036
7
Bulls Back On Track - But BITCOIN is Facing a BIG DILEMMA Now! When circumstances change, I change my opinion (and my position if necessary). Traders who cannot change their opinion end up having to change their underpants. Peter L. Brandt, world-famous profitable trader since the 1980's, and author to many books about TA and Trading! Just keep it in mind, guys! So lucky for me, I have been right the last 2 days. So no dead threats... LOL! After looking at the chart, it has become more clear to me, that we are in ABC-Correction. Right now we are on Wave C, and are trying to find our target before we need a retracement. Wave C is too short to be part of a bigger 1-5 Elliott Wave structure, and also MACD and RSI, will tell us that. I will here give you 2 Scenarios as I see it: 1. We are finished with the 5th wave of C, and are now ready to retrace. It might very well be the beginning of 1-5 down Elliott Wave Structure (red arrows). Wave C is 61,8 % of the length of Wave A, which perfectly match with our EW guidelines. 2. There is another EW-count, where we still assume we are on the beginning of the 5th wave. It could take us up to my yellow dots at 9,200ish or 9,400ish USD. Hereafter we will go down, and have a 1-5 down EW Structure. For me, it's very hard to see, which of these scenario are most likely to play out. Remember, that it's also o.k. Most of the times, we don't want to enter a trade. I have now given you some ideas, and when you get confirmation on one of them, you might enter a position. Last but not least. Remember that we are first in a Bull Market when we are above 11,700 USD! I'm still bearish short term, and SUPER BULLISH long term. And as Peter L. Brandt says, if the circumstances will change, I will also adjust. I have no problems with admitting if I am wrong! Traders are wrong all the time. GO BITCOIN! D4 Loves You <3 And as always: Please give me a BIG LIKE! It is INDEED very much appreciated - and once again. Thanks for all the messages I'm getting on PM - I'm really sorry, but I cannot answer all of them. But I'm really thankful for everyone of them :)
BITFINEX:BTCUSD
by D4rkEnergY
171