BitcoinShort
A NEW WAVE WILL COME!
Updated
Dear Reader,
Like many of you, I follow the top analysts on TV. Right now, everyone is getting it wrong!
First they say up, then down or both! .. and we all think ... are you long or short? Pick already!
The truth is that it's very difficult to analyze faster charts at the moment. Everyone is trying their best and pretty much waiting for a clear signal to emerge.
So, let's not be too judgemental of the authors.
I follow the longer term trend from the daily and weekly charts. My interpretation is that we need to see a big correction soon. It's completion will usher in major investment and send BTC + alts to the moon and beyond. I know that some disagree with my view and are of the opinion that we've already seen the bottom of the market. Only time will tell.
Today, I offer the possibility that BTC is traversing an ending diagonal.
Let's see how it turns out.
Happy Trading!
Like many of you, I follow the top analysts on TV. Right now, everyone is getting it wrong!
First they say up, then down or both! .. and we all think ... are you long or short? Pick already!
The truth is that it's very difficult to analyze faster charts at the moment. Everyone is trying their best and pretty much waiting for a clear signal to emerge.
So, let's not be too judgemental of the authors.
I follow the longer term trend from the daily and weekly charts. My interpretation is that we need to see a big correction soon. It's completion will usher in major investment and send BTC + alts to the moon and beyond. I know that some disagree with my view and are of the opinion that we've already seen the bottom of the market. Only time will tell.
Today, I offer the possibility that BTC is traversing an ending diagonal.
Let's see how it turns out.
Happy Trading!
Note
Momentum indicators - we are waiting for divergence to print. The tiny downturn of the RSI is not sufficient for me. Want to see a bit more action!We can get quite close to the upper bound of the diagonal and this pattern will remain valid.
Note
Dear Reader,BTC approaches the lower bound of the diagonal. Quax737 has made a valid argument in that we may breakdown from the diagonal at this point. However, I have reason to suspect that we have one more leg to go in traversing this pattern. It could go either way.
Note
The 15 minute chart looks quite promising for a move towards the top diagonal bound.Note
It's amazing to see so much happening at once ..1.
Note
1. Inverted H & S2. Breakout from a triangle
3. Breakout from descending channel
Note
Exact same fractal pattern appears on the hourly !Note
A small breakdown towards the trendline and then we should be on our way to the next consolidation area @ $9400Note
Apologies .. I'm comparing the 15m to the hourly for reference.Note
I expected this consolidation a bit closer to $9400. It is critical to close above $9300 to continue the advance.Note
Curve ball !!!I agree with Quax737 and revise my idea to an impulse wave set and my target to $ 9650. Teamwork is awesome ! Very well done dude !!
Note
Looks like we may break down from the channel and commence the descent to the wave 2 target.Note
I'm aiming for $9140 ...Note
I'm rolling the proverbial dice by saying this, but I do expect a deeper fall shortly ...Note
It's over ! BTC did not make the anticipated rise and we have progressed to the next step - a fall to about the $ 8600 region. Thanks for watching folks. See you soon at the next idea!
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