BTC To Bounce at 9.2k For FINAL Push UP! Then...LOOK OUT BELOW!
تم تحديثه
Based on my EW count we are nearing the end of the 4th Wave down of this 5 Wave impulse (Blue Lines). Wave C is coming to an end and we are looking for it to end at approximately $9160. Ending here would make Wave C (of the ABC correction that Wave 4 is made up of) .618 the length of Wave A, and we know that Wave C and Wave A tend to relate to each other with a fib ratio (such as .618).
Furthermore, if we look within our Wave C and count the subwaves (Pink Lines) we can see that this Wave C is also made up of another smaller ABC correction, and ending at $9160 would also make this smaller Wave C .618 of the smaller Wave A (both drawn with Pink Lines).
For educational purposes only, entering a trade here would give us a very good risk to reward ratio. We would place a stop-loss at $9050 (going below about $9090 would invalidate this count as our Wave 4 would overlap Wave 1 high point) and enter long between now ($9300) and $9160. Upside is huge as our Wave 5 is likely to be extended since our Wave 1 and Wave 3 were not extended. This extension can take us to 13k or higher levels giving us a 1:10 (or higher) risk to reward ratio.
Wave 5 targets will be determined once Wave 4 ends (unless of course the idea is invalidated).
Finally, after this Wave 5 ends we can expect a larger correction that takes us to sub 9k levels (Hence the "LOOK OUT BELOW!" part). Ideally we want to exit the trade as close to the end of Wave 5 as we can and re-enter at sub 9k levels.
***PLEASE NOTE, THIS IDEA IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH***
Furthermore, if we look within our Wave C and count the subwaves (Pink Lines) we can see that this Wave C is also made up of another smaller ABC correction, and ending at $9160 would also make this smaller Wave C .618 of the smaller Wave A (both drawn with Pink Lines).
For educational purposes only, entering a trade here would give us a very good risk to reward ratio. We would place a stop-loss at $9050 (going below about $9090 would invalidate this count as our Wave 4 would overlap Wave 1 high point) and enter long between now ($9300) and $9160. Upside is huge as our Wave 5 is likely to be extended since our Wave 1 and Wave 3 were not extended. This extension can take us to 13k or higher levels giving us a 1:10 (or higher) risk to reward ratio.
Wave 5 targets will be determined once Wave 4 ends (unless of course the idea is invalidated).
Finally, after this Wave 5 ends we can expect a larger correction that takes us to sub 9k levels (Hence the "LOOK OUT BELOW!" part). Ideally we want to exit the trade as close to the end of Wave 5 as we can and re-enter at sub 9k levels.
***PLEASE NOTE, THIS IDEA IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH***
ملاحظة
Wave 5 has begun. We didn't get quite as low as we had hoped (9.3k) and instead bounced earlier- a very bullish sign. Our first target for wave 5 is below in the RED zone.ملاحظة
Currently in Wave 2 and based on the price action thus far it seems this corrective Wave 2 will be a sideways correction. We should see Wave 3 begin soon and it will likely be a very strong one. Targets for Wave 3 will be posted once we see some movement and a breakout.ملاحظة
Its been a while since I updated this idea, but here it is!Expecting a drop very soon. If this plays out, it would mean this first giant rising wedge was Wave 1 (of 5) of the 5th and final wave up before a larger correction. The drop that I believe we are about to see will be Wave 2, and Wave 3 will start after. This would mean we should see 12-13k levels easy, as Wave 1 took the form of a leading diagonal and was much larger than I had originally anticipated.
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New idea posted, follow along there!
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