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FALL IN PRICE TO $12,000 per CoinsUncle Bitcoins price has been on a steady FALL since November 2021 though we didn't see it until 19th of June 2021,and i came out told my closed traders and investors that price will fall up to $12,000 per coins,but this time it will hit $8000 price Levels.
Now have it again that over the next 6 months Bitcoins will continue fall in price.I am just praying because this may lead to price repeat of 2015.
Bad news for investors but not traders.
XAUUSDWe anticipate XAUUSD to reach the third touch of our upper trendline and continue the downtrend, the structure has been forming lower lows and lower highs, awaiting the point of a lower high, however should price reach the upper trendline and start accumulating, the bias will need to be revisited
Bitcoin price action idea for swing and day traders BTC trend reversal underway recently btc breakout from bearish structure and forma make strong lower now we can expect retracement 23400 - 23200 range current demand zone is 22600 - 22800 range until btc price respect this demand range we will be in bullish trend do not panic due movement between these levels this will be internal structure . Current supply zone area is 24500 to 25200
Diamond top pattern clearly seen upon breakdown our scalping target will 23600 to 23400
Thoughts : i will open long from 22350 to 21600 range waiting for higher low and my stop limit will be 20700 and targets will be 28850 25450 and 26350
Not a financial advise do your own research
Bitcoin is yet to reach a top, here’s whyHello Traders! Welcome to today’s analysis on bitcoin, I hope you’re doing good
From our last analysis on bitcoin, we tried to forecast a downtrend which didn’t quite play out because our wave c fib ratio exceeded 1.236 ideal extension for a wave c, which gave us more insight that what we called a wave c earlier is an extended wave 3, that was why I updated the idea with a note “trade closed manually” few hours later
So, where are we now?
Wave 3 gave an extension beyond 2.618 fib extension level which is the usual for btc, and that leads to a truncated 5th most times.
We saw a massive rejection very close to 20k region down to lower 18k, in wave 4, and the current structure may lead to a truncated 5th. Usually with truncated 5th, we have a long-term consolidation in wave 4 forming ABC corrective structure. Having a closer look at smaller timeframe, wave 4 seems to be forming a flat correction.
What is a flat correction?
Flat correction is one of the simplest corrective structures with 3 wave structure labelled ABC. The difference between a flat and zig zag correction is the amount of sub waves. While flat correction gives a smaller 11 sub-waves, zig zag gives 13 smaller sub-waves. The usual convention for a flat correction is 3-3-5 ABC waves
In this case, we had 3 waves complex correction in a, and waiting for the 3rd sub-waves in b to be completed before the final push downward in form of a wave c. The ending point of the last sub-wave in b will determine what kind of flat we get, if we close around the last high close to 20k, we’d call it a regular flat. If we close above 20k, then we’d call it an extended flat.
We can expect some rejection around 20k or slightly higher to complete wave c of the flat correction. If otherwise, I’ll post an update on that.
Conclusion: usually truncated 5th comes with a lot of scalping opportunities because of quick swings back and forth, just don’t get caught in the middle. We won’t be holding our positions for long we’ll be scalping the waves along.
If you’re don’t like scalping and you got an entry in mid 18k you can leave it open till we break above 20k. I’m forecasting mid 20k as the ending point for the truncated 5th, let’s see how things play out.
This is a very detailed analysis which could play out throughout the week or maybe more, I hope you get the idea.
I’ll stop here for now and update you more as the structure unfolds.
Trade setup: we entered a long trade below 18k, and we’ll exit the trade around 20k region before the next swing down.
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Trade Responsibly.
I’ll see you all shortly
Have a great week traders!
Thank you
Nueel_classic
Bitcoin Weekly UpdateHello Traders, welcome to this week’s analysis on bitcoin. I hope you are all doing great
From our last analysis, we expected some retracements for wave W, which we got and I labelled wave X, having a closer look on the smaller timeframe, the corrective structure looks like a zig zag, with 5 waves down in W and 3 waves up in X, in theory we should label WXY as ABC, but I kept it as WXY to remove a bit of speculation in case there’s a change in trend.
Zigzag is the easiest type of correction to trade. Very similar with the motive phase with a 5,3,5 ABC structure. It’s a very common pattern to see in waves 2, 4 and B with 2 major rules:
Wave B(X in this case) must end below the starting point of wave A(which I labelled W)
Wave C(which I call Y) must break below the ending point of of wave A(which I called W).
So, what do we expect from here?
We expect btc to make a continuation to the downside to complete the corrective structure. The 16k region is a crucial point to watch. If it breaks, that will make more room for downward movement and 14k could easily come in place.
Trade setup: taking a short position from mid 18k and riding the wave down, target profit will be between 16k to 14k region. I’ll be updating the post as we move.
If you enjoyed this analysis, don’t forget to hit the like button, share, subscribe and stay tuned to this channel for more free updates.
Don’t forget to share your questions, ideas and chart with the community in the comment section below.
Donations via TradingView coins also helps me at posting more free trading content and signals here.
Thanks for your continued support as always.
Ride the wave and stay profitable
Have a wonderful week.
I’ll see you all shortly
Thank you
Namaste! Traders.
Nueel_classic.
BITCOIN. WHAT CAN WE EXPECT THIS WEEK?Hello traders, and welcome to this crypto corner, I hope you had a wonderful week.
from our last analysis, we expected btc to make a retracement from 10k region to the upside around 11k region, which we can see on the chart..
so, what's next for bitcoin?
last week if you can recall that after the wave 5 truncation, I started labelling a wxyxz correction. initially, I like to start my analysis with letters. then when the move is done, we can adjust the symbols.
what matters really is not the symbols, it's the direction of the market.
imo, I think we started a 5 wave impulsive move to the downside from mid august after the 12.5k huge resistance. I'll adjust the symbols once the move is complete
what do we expect now on bitcoin
we expect a move to the downside, a big one, you know I think things can go real south in coming weeks.
is 9k possible? Yes... oscourfe.....lol
is 8k possible? depends, if traditional market experience huge losses in coming weeks.
now, I'm sure you're about to ask is 7k or 6k possible? well maybe, maybe not. let's focus on the move to the downside, and I'll be updating you as we move
follow me, and let's take profit together.
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have a wonderful week trading,
safe trade
trade responsibly
namaste traders
LATEST UPDATE ON BITCOINHello traders and welcome to today's analysis on bitcoin.
don't forget to hit the follow button to get more free update, like, share and drop your comments below. thank you.
so, what kind of situation do we have on btc/usd pair
we had a strong impulsive move to the downside from 12k region to higher 9k. which I labelled wave y. short term, the market looks quite bearish and since btc has been trailing stocks and gold lately.
now, we expect a corrective move to the upside to around higher 10k or 11k region.
Trade Setup: taking a long buy from around 10k region or slightly lower for a move to the upside. taking fib retracement from the x wave(around 12k region) to the y wave(around 9.9k region) we expect the market to push to the upside .5 fib level or .618 fib level will be good take profit zone. don't forget, stop loss is your friend.
knowing fully well that downward pressure on stocks affects btc price. and in the meantime, it's possible to see some continuation to the downside, or maybe things might get a bit bloody after the retracement to the upside, I can't really say for now. I'm saying this so you can trade cautiously and avoid greed or moon trading lol.
after the move to the upside, I'll be posting an update on the same pair to track how the market is behaving.
never hesitate to swim against the tide in the ocean of financial market, neither be afraid and stay confined in the well of fear and greed, but be courageous and stand a chance to frolic in the rivers of prepared profit. lol. off course this piece is not part of the trade setup.
I'll see you soon in the next update.
safe trade
trade responsibly
namaste traders
Elliot Wave analysis on bitcoinmost wave traders are focused on labelling every wave structure impulsive which might not be so in the real sense.
this approach makes elliot wave analysis looks like some hogwash.
the truth is wave analysis is subjective to the analyst and may including some personal bias rather than embracing logic. we analyze wave differently and
in my experience as a wave trader, I found out that the market corrects almost 70% of the time, and most times corrective phase takes longer time than impulsive phase imagine the 2017 btc bull run to Jupiter, lol. is still correcting till date. maybe the mistakes most wave traders do is trying to call impulse correction, or vice verse. while your reaction to the market is more important than your predictions, here I found a rather different approach to Elliot Wave analysis and combining this with some indicators and financial analysis has made me profitable so far, and today I'll be sharing my analysis on btc/usd pair, enjoy the wave.
I'll appreciate everyone going through this analysis to please drop a like and comment below and don't forget to hit the follow button as this will encourage me to drop more free analysis on other currency pairs.
thank you
namaste traders.
Curvy waves of EURJPYFresh analysis from me.
So many times lately there have been some very nasty "pros" who seem to think making others feel small is what TV is all about.
For me I come here to share and learn, not to be made to feel like my trades or ideas are anything less worthy than someone else. The chat especially is a nightmare with so much ego and crap spouting from mods "pro's" and even newbies.
End of the day I actually trade, with genuine real money, I even manage at the same time for others. I am not perfect. I am profitable. I do generate positive returns. Therefore I wont take any crap from anyone because well why should I?
I suggest you all do your thing. Believe in your trades. Set lines to stop out because you dont want to just purely gamble/think you are above it all. More than anything let me know your thoughts on EURJPY as I want to make money on it and talk to me anytime here because I love market banter and sharing war stories with you ;)
Good day and GL