In the last couple of weeks, we have posted several BTC, crypto and alt coin posts. This has been followed up with updates and comments. Going back over them, we thought it best to correlate the info under one post.
So related ideas from the short call.
Here's why we saw the short move.
Daily Elliott 5th wave being completed - linning up nicely at the time of the post with the extension level on the weekly.
The weekly view.
Weekly with extension.
These show the potential for weekly targets.
Confirmation on the weekly Stochastic.
They blew up the rocket post - see linked ideas below;
The follow-up as it played out.
GRAYSCALE This is an interesting topic in it's own right.
Divergence from the Oscillator.
Divergence to the BTC price.
Lastly - SEC filing for annual report. Check out the dates.
Then we looked at total market cap and the situation compared to monthly and weekly Elliott structure - look at the Stochastic region.
Comparisons Interesting to see what other assets in the market are doing with and around bitcoin.
BTC/SPX
BTC/Gold
BTC/DJI
Into the local move - after the first post.
Interesting channel levels being respected.
Key price points on the 4 hour timeframe.
Expectations lower timeframe at 1 Hour.
Hope this makes sense - maybe after reading some of the other posts.
The intention here was to put the info from those posts into this one. Giving some depth and logic to why the calls and what we see next.
Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
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All the way to the Average price level. For sure we are collecting some longs on the drive.
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Average price & Consolidation cluster held the resistance perfectly on the last waves. Now expect a test of the 4hour level just below the average price line In its latest attempt.
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Interesting
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Advanced Get this morning painting Elliott 1-5 minor as below.
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With this extension on 5 above shown with extension below;
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What's interesting still - is the levels, regression and fibs are being respected. Although it seems crazy-wild moves like this morning. It's only reaching key levels and being rejected.
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Even if you go and look at the post (they blew up the rocket) now looks like their trying to repair it - Levels here all the same just moved ABCDE over to suit the current time.
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Daily Wyckoff levels Maybe will give us a UTAD here???
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Press play twice on the idea and you will see it holding strong resistance at the Half way line (larger TF)
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