BLX trade ideas
Fractals, fractals everywhere…Isn’t this self-explanatory. Refer also to my previous published idea for the repeating, broadening wedge fractal thesis. But note we have several fractals and time scales forming constructive interference, including potentially the cross of the 20 level on the stochastic RSI, the 2018 – 2020 and the H2 2019 broadening wedge.
Bitcoin (The Entire Wave Structure, EXCLUDING the 1st impulse)Friends, I hope your are all having a lovely start to your week. The attached chart is one that I have decided to add to the Bullish side and one I have personally been reluctant to post. It does do something that many will argue with, and I can accept their push back. It is the idea that Bitcoin is still missing a Grand Final 5th Wave top.
The way we get there is by excluding the first impulse of the infancy of Bitcoin.
The rationale behind it being excluded is simple: There was little to no volume, no real world on ramps, & little to no adoption.
When you exclude the move from $.01 to $30, and actually start the count at $2 you can actually draw out the Grand Elliot wave cycle with each sub waves quite easily.
Please note: I have shifted the Grand cycle waves (1,2,3,4,5 in Bold Black) over to the right to reveal the sub waves (light Black 1,2,3,4,5 and light red for ABC corrective waves) that make up the larger waves.
Suffice it to say, the Grand waves do align with the key tops and bottoms.
Lastly, I included the MONTHLY RSI/Stochastic to reveal where each major low occurred. We are currently there now. These readings are found at the 2nd corrective wave low, the 2nd corrective wave low in our Grand 3rd wave, and now at what could possibly be the bottom of our 4th wave low. EACH LOW ALSO COINCIDED WITH A RETEST OF THE .786 FIB. So all technical factors have been satisfied. While this is a highly contrarian view, it is one that I will post with ZERO shame.
I am not here to acquiesce a position to please others, but merely post the facts on the chart. :)
BraveNewCoin BLX - Short Opportunity 📈Hi Traders, Investors and Speculators 📉📈
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In today's chart - BraveNewCoin. This is short opportunity, I have identified an easy short setup with low risk on BLXUSDT.
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Updated BLX possible Bitcoin bottom indicationsAs mentioned previously, the last two bear market lows are the only time that the weekly RSI has closed in oversold. The RSI and Stoch RSI structures at that point, and leading out, are the same. And this all appears to align with the most recent breakdown into oversold just a couple of months back, in June. We can also note a pullback after RSI rallied out of oversold in the previous occurrences. This would be the likely stage we are in if the chart continues to follow those previous bear markets. The orange line is the weekly 200 MA. The green line is the weekly 50 MA and the blue line is the weekly 100 MA. The 50 has crossed below the 100 in the previous two bear markets AFTER price has bottomed. We appear to be a week away from that same cross right now which means that IF the chart continues to follow the previous two bear markets, then we shouldn't see a low below the June 2022 swing low. Finally, we can note that the hash ribbons indicator at the bottom of the screen has flashed the recovery lime green bubble after flashing the grey capitulation bubble.
So, while past results don't guarantee the same in the future, there are a lot of similarities in the same areas. We will see if they play out the same way this time or not.
A Bullish ScenarioI will start this off that yes BTC can fall lower and I've outlined previously that 12k~ is probably an area id start buying again if the market crashes (however I have some exposure here in case I'm wrong) - I do believe we may see in the future major detachment from physical metals and BTC from major index's at a time people least expect it - As I'm of the belief that BTC will end up being a commodity like gold and silver and algos will start pushing all 3 very high.
The Rally not over until $30k $40kWhile we are in choppy market or bear market rally, stock indices like SP500 almost hit 50% of retracement and people already started bearish to new lower lows. I half agreed with them but Bitcoin doesn't give me a confirmation of its bear market rally top. This seems like Bitcoin needs at least 0.236 or 0.382 retracement between $30k to $40k range. Let's not forget we have midterm election upcoming. This gives me confident this market could drag to November.
Just my prediction, folks. Happy trading.
Hursty boi, thirst for alpha? take a sip of this...So i took my cat for a walk on extremely hot asphalt, he then put on his tap dancing shoes and drank a bloody mary. mind you this was a tuesday and thats usually when the fomc minutes come out. Jerome powell did us dirty and im going to find him and hug him until he is so loved he stops breathing.
