BTCUSD Update To Weekly/Daily Charts...Still Lower To Go

٢٩ يوليو ٢٠١٩

See my previous comments on other charts. This chart claims short, but there is a likely pattern that takes us to $11500 then much lower. Overall short to $4500-7800 but expecting $6600.

I am definitely watching BTCUSDSHORTS and extreme sentiment. Orange line is BTCUSDSHORTS

٤ أغسطس ٢٠١٩

ملاحظة

Nearing a short position, around $500-1K from here...from $10900. Short from $11-12K area. I think this is a bull-trap. BTCUSDSHORTS are EXTREMELY low....still...

٦ أغسطس ٢٠١٩

ملاحظة

If this is the expected red (A)(B)(C), the (B) Wave could be in. BTCUSDSHORTS are still at an extreme low. Extreme sentiments are important, if you follow Elliott.

٩ أغسطس ٢٠١٩

ملاحظة

It looks like we are moving up in 3 waves, indicating a possible small Ending Diagonal on the hourly chart. It could also be a 4th wave Triangle, if $11550 breaks down (yet $11250 holds) and continues sideways.

There is also negative divergence, indicating weakness.

١٥ أغسطس ٢٠١٩

ملاحظة

On track, so far, for wave (C) of 2 Circle. BTCUSDSHORTS are still extremely low, which is not indicative of a bottom.

٢٨ أغسطس ٢٠١٩

ملاحظة

Failure to follow through on the downside could indicate we are forming an Ending Diagonal. Shorts are still very low.

Aug 22nd (9785) could be counted as 5 down for wave 1....Aug 26, wave 2 (10680) for a Flat. To keep this outlook, we should continue "straight" down.

٦ سبتمبر ٢٠١٩

ملاحظة

Failed on the downside: Still lower numbers as stated above. We should start down around current levels (11K) to the $6600 area. This is not the time to be long.

٦ سبتمبر ٢٠١٩

ملاحظة

From Aug 15th you can see an Expanded Flat up...a 3/3/5...the 5 that we are currently in now to around 11K.

٦ سبتمبر ٢٠١٩

ملاحظة

That may have been the start of this move much lower.

٩ سبتمبر ٢٠١٩

ملاحظة

If we were to take out the 11K area with strength, this could mean that $9359 on the 29 Aug was THE bottom. I don't think this is the case but we have to see further downside, with some strength, to rule this out. There are two possibilities with the current structure, up in a third wave or down in a third. The latter looks most likely.

٢٤ سبتمبر ٢٠١٩

ملاحظة

Ouch: Getting near the buy area but:
1. Have yet to see 5 down
2. BTCUSDSHORTS are still extremely low but slowly moving up....really slow but that could change in an instant.

My original preferred levels were $6800-7800. We are nearing $7800 now.

٢٦ سبتمبر ٢٠١٩

أغلقت الصفقة: تم الوصول للهدف

To be safe, I would call this short done. The upside is just too great. I do expect lower numbers...but it's not worth the risk.

BTCUSDSHORTS are still WAY low...meaning lower numbers...

٩ أكتوبر ٢٠١٩

ملاحظة

Still no sign of a bottom...BTCUSDSHORTS are still WAY low. I will add a bullish chart when we see signs of a bottom or nearing a bottom.