Ian_Carsen

Ian_Carsen

Bitcoin will probably make a new local high before testing the strong global support.

Ian_Carsen

This trade--often the obvious entry range which is more centrally located in the price action fails. I've calibrated the entry to pick up the pieces. Nice clean 1hr UR. If price hits target from that central range though--this trade is off. Target could be raised (or lowered) depending on what price does prior to entry--chart not fully developed. This trade looks...

Ian_Carsen

It is possible the trend has completed, however SUI has not yet hit its daily target. Thus we can try to rebuy the retest near the trend line. The lower white line is the 'proper' entry, however trade may be missed, so I will enter on the red.

Ian_Carsen

If Cortex holds the recent lows as previously, a larger bounce could occur, unfortunately this trade will take weeks to play out.

Ian_Carsen

Unless target is hit, this should be a good trade at one of the lower lines!

Ian_Carsen

Overall, we hit an important level for a near-term bounce, likely small. May have already concluded, however, while the bottom could be in, it appears we will probably go lower to the bigger targets.

Ian_Carsen

If the weekly candle closes below 89,150; we probably visit 70-80K region, where at this point I am pre-disposed to consider this bull market to be over, despite its relatively short duration. Of course we will have to see what price has done at that point. Regardless, there should be a very significant bounce off those levels if this occurs. My understanding of...

Ian_Carsen

This is a very long and drawn out correction process currently! I expect the immediate move to unfold as shown.

Ian_Carsen

Looks like we are moving up to a target, thus can rebuy the move! May go lower than the indicated level, however, we don't want to be too aggressive and miss the move.

Ian_Carsen

Looks like a trade on CLV, if price bounces anywhere within the Daily SOR and has a significant move up before hitting the indicated entry, cancel the trade

Ian_Carsen

2 different trades possible, better RR has higher risk of missing entry, but is overall safer and more profitable. I'll go with this and modify my position if it bounces convincingly sooner

Ian_Carsen

If does not bounce strongly from this level, touching the yellow line should be expected. If it does make a new very local high, cancel this trade

Ian_Carsen

If you notice the prior history of the liquidation events, as we just experienced, usually a larger move in the opposite direction occurs, sometimes after a smaller reaction and correction. You will notice that downside momentum seems to be slowing, indicators are diverging, there is no strong resistance until the indicated lvls. To be fair, there's not much...

Ian_Carsen

LQTY is coming down to longer-term targets, given 12hr was held at the very top, a 12hr UR within monthly range is a good target! It may hit the lower red line, if you want to be safer this is the better entry, and will give a better risk:reward and trade management possibilities.

Ian_Carsen

EW means Elliott Wave, and Elliott wave is very cool, not ewww... Or at least that has been my findings studying it for a couple months now. The ethereum chart is very clear, with two impulse waves separated by first of running flat, and then a traditional flat corrective phase. We have just completed the traditional flat corrective phase. EW provides a way to...

Ian_Carsen

This may sound absolutely crazy given what's currently happening in the market: if you look at my previous Bitcoin overall, you'd see that I is essentially predicted a move up, then I move down, but I didn't really know what scale the moves would be. It turns out, the scale of both that up move and down move were significantly larger than I was thinking, hitting...

Ian_Carsen

Should be hit pretty soon, stop and target are conservative

Ian_Carsen

Unfortunately, that 'little retracement' I mentioned last Bitcoin Overall turned out to be a bit larger, testing the higher of the indicated supports. Thus, there is reason to believe the corrective phase will last longer and may even cut deeper than I expected. I believe this means we are likely to head lower again before moving higher. How low...I don't know...