BasedHolland

BasedHolland

After every major cycle we had an 86% average correction down. This cycle was from $150 to 20000. In what world is that Healthy? Why do people think that when someone says that bitcoin will go down to 1000 they are crazy and fear mongers? They dont wanna accept the fact that everything can collapse even bitcoin. I think i am even to optimistic about thinking that...

BasedHolland

Probably a lot of people are really confused in this market right now. What i am seeing is an ending diagonal with a target around 8400.

BasedHolland

We are coming down correctively and this bounce would be pretty normal compared to the drop we have just had.

BasedHolland

also good general support over there.

BasedHolland Updated 

I like to document my trades from now on so i dont forget about them. Entry point was 5090 and stoploss is at 5040. Im gonna short it when it reaches my target.

BasedHolland

I think its an simple abc move down thats extended to the 2.618. Also good support at the price fibonacci giving me.

BasedHolland

I will update this idea. This could be part of a bigger ABC correction. If this is a big ABC correction this could get very ugly.

BasedHolland

It lines up with 0.886 and is the best elliot wave structure i can see. Dont be emotional right now. Buy btc. Hold.

BasedHolland Updated 

Whats out for this very complex structure. A lot of people are gonna get trapped in this. 6090 Is a very important and strong support level. Dont be suprised if we get a strong bounce from that. 5524 Is the 0.618 fib lvl from 3k to 14k thats gonna be a really strong support level and i think we will end the bear market on that target.

BasedHolland

Adding to my short position at 9237

BasedHolland Updated 

Bitcoin is looking more bearish than ever. Target 5524.

BasedHolland Updated 

The whole crypto community is thinking we are in a bull market right now and that itself is a bearish sign. The price is not following the indicators. Seeing a rising wedge in a bear market. Elliot wave doesn`t confirm the bottom. A lot of people lose their money if my prediction is true.

BasedHolland

I think we are getting a impulsive correction that can get us too around 8000-9000. I will update this idea and i am short from 9908.

BasedHolland

Im not an expert on abcde formations but i know this happens lots of times and its common for wave 4. It accumulates for a while and then it pushes for 1 more wave.

BasedHolland Updated 

Im am personally gonna short from 9920 but first i have to check this wave out. I know that i made an chart lately that i will short from 9820 but i am not gonna take that trade anymore because of the looks of the wave.

BasedHolland

Expecting a big and fast dump.

BasedHolland Updated 

If it breaks previous high its a confirmed bull market.

BasedHolland

Expecting a lower low right now