BTC/USD - for Elliott Heads !
Updated
Hello friends,
Here is an Elliott analysis in the big picture, of course we have to adjust EW again and again. Green is the bullcount, red is the bercount. But let's get started.
Wave 1 began after a long sideways phase at around 3k !!
I can well remember when the crypto experts called for 1k and the fear level was extreme and BOOM, Wave 1 started with a short squeeze which the bulls used as an opportunity to push BTC higher.
Wave 1 ended at 13.7k ! Wave 2 started at about 4.5k thanks to Corona. A good opportunity that missed the first one!
An extreme bull run began, which seemed to be stopped by nothing and nobody, for weeks over the monthly BB ended at the 5,618 Fib Extension!
But what comes up must also come down again, between 0.5 and 0.618 to about 28k !!
But crypto bulls wanted more and drove the price up to around 70k !!
After this summary, 2 other small things I noticed.
Keep it simple
Looking up, all one had to do was trade the 1D MACD and BTC would have printed money like no other!
To spot the tops ,,check out my older post!
Easy to identify
OK, let's go to the LTF, here the EW Count, looks like a bottom formation but could also stop in the 0.786 of the complete upward movement and the -0.236!
Or the botom is in
LONGtrade
The further movements can be seen in the chart and I will always call long and short day trades and swing trades !
I want to mention that everything I post is just options and my own opinion!
Always trade with SL and do not risk more than 1% of your portfolio (max. 3%) per trade.
If you have any questions, please let me know,
you can also copy my chart
➡️If you like my posts, press the Like button, comment or follow me
Thanks for reading my ideas,
Trade save !!
Here is an Elliott analysis in the big picture, of course we have to adjust EW again and again. Green is the bullcount, red is the bercount. But let's get started.
Wave 1 began after a long sideways phase at around 3k !!
I can well remember when the crypto experts called for 1k and the fear level was extreme and BOOM, Wave 1 started with a short squeeze which the bulls used as an opportunity to push BTC higher.
Wave 1 ended at 13.7k ! Wave 2 started at about 4.5k thanks to Corona. A good opportunity that missed the first one!
An extreme bull run began, which seemed to be stopped by nothing and nobody, for weeks over the monthly BB ended at the 5,618 Fib Extension!
But what comes up must also come down again, between 0.5 and 0.618 to about 28k !!
But crypto bulls wanted more and drove the price up to around 70k !!
After this summary, 2 other small things I noticed.
Keep it simple
Looking up, all one had to do was trade the 1D MACD and BTC would have printed money like no other!
To spot the tops ,,check out my older post!
Easy to identify
OK, let's go to the LTF, here the EW Count, looks like a bottom formation but could also stop in the 0.786 of the complete upward movement and the -0.236!
Or the botom is in
LONGtrade
The further movements can be seen in the chart and I will always call long and short day trades and swing trades !
I want to mention that everything I post is just options and my own opinion!
Always trade with SL and do not risk more than 1% of your portfolio (max. 3%) per trade.
If you have any questions, please let me know,
you can also copy my chart
➡️If you like my posts, press the Like button, comment or follow me
Thanks for reading my ideas,
Trade save !!
Note
Trade closed manually
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