nnichos

nnichos

Looking from afar at the chart, I realized there is a big triangle forming (green). If I drew correctly, we are now coming to the bottom of wave 3 of it. Which will be the wave 5 of the red smaller triangle inside. According to my understanding, it should be the goal of the blue head and shoulders. There are so many wicks here and there, I can't decide exactly on...

nnichos

Someone smart said "don't look at the chart too closely". That's what I do sometimes and miss the bigger picture. We are in the triangle. Descending or going up? I would say going down, because we still have 2 big head and shoulders (the blue and the purple). But before we go very low, we should retest around $79 (or 81?). My previous count (red numbers) was...

nnichos

New thoughts on this. BTC short term. Let's catch a trade :)

nnichos

I believe we are in the wave 5, with the first one started at the bottom of the double top. Ideally wave 5 should hit the upper trend line of descending triangle. But that does not always happen. I personally am bearish at this point. I think we corrected too low to go back up now. The price is lower the base line and the conversion line of Ichimoku, yet...

nnichos Updated 

Indicators are confusing. Stochastic RSI is overbought on 15 min chart, but it's not that sensitive as Stochastic, MFI is green though. Psychologically 74 is "the bottom" level, so we should have a nice push from there. Ichimoku cloud is red, but it's super thin at the moment. Can't decide if we are going to 76.5 or 77.2. With my amount of LTC wouldn't want to...

nnichos Updated 

So I missed the trade. Sad, but it's better to miss the whole trade, then to make the wrong one and end up negative (done that, been there). On the good side: I finally learnt, that I often get tricked by the wave 4. It is diagonal in the case with LTC with current pattern. It goes down in the middle, making me think, it might go all the way to the bottom trend...

nnichos Updated 

I think it's too early to go to $69 region. We should go sideways for a couple days (I think meanwhile Bitcoin will go to 6400 region - see my other chart). I am not very sure, that's why I'll wait until MFI on hourly chart is green (see the arrow), that should make a Wolfe wave count on the side of the wedge with the wave 5 being at 72.7- 73.2. If MFI turns green...

nnichos Updated 

Kept trying to catch a trade. Bad at decisions making and patience. So, let's try this again. I say 74.6 around midnight, bounce to the blue line before we go to 69.3 tomorrow. Meanwhile off to take a nap. Any feedback?

nnichos

I think we'll go back up to around 6400 shortly. Then will test the blue trend line at around 5700 since stochastic is not at the bottom and 6800 resistance was too strong. From there a bull run to test upper trend line around 7200-7400. Then fall back to the "ultimate bottom" at around 5100. And then up and up..

nnichos Updated 

We are definitely having a head and shoulder pattern. I've lost some money last night trying to draw and calculate without having proper sleep. Today the picture seems so clear, if only I could be patient. If my drawing is correct. We will land at around $69.3 short term. And will have a bounce there. Question is, how far will we bounce? If we repeat the pattern...

nnichos

Are we looking at $69 in a couple days? Head and shoulder pattern on 4 hr chart. With drawing of Wolfe wave to our $69 destination.

nnichos Updated 

Made a fresh chart. Thinking will have bull run up to 7800-7900 as a part of wave 5 of diagonal triangle wave pattern. It aligns with top of Ichimoku cloud and trending line of the triangle, pivot is showing a buy signal at the moment. Then pull back to around 4.5k - 5k. And that would be the bottom. Another possible case, we might not hit that trend line from...

nnichos Updated 

I think we will reach 7050-7100 very soon almost certainly. The possible outcomes if we have a bull run are marked with red markers. Ichimoku cloud is bearish (red) though, low volume. So I am not sure if the bottom we had was actually "the bottom". But, according to my Wolfe wave drawing, it was the bottom and we are supposed to have a nice run. I think, this...

nnichos Updated 

If I could only trust myself. Wrote 77 to 106 last week. Still bought today at 78.4. Damn. Let's see if 106 plays out, from today, I am thinking more like 104. But before, thinking at 92.3 will be a small correction. I wrote to 86.3. Now thinking more like 89? I am certain we are in the uptrend in a short position. Up until 104 or 117 if my Wolfe wave drawing was...