BTC/USD and where it may be heading now (early idea)

已更新

Everyone who followed my last idea saw we were 100% on point on all turning points for BTC in its final 5th wave of wave 2, and as one of my followers noted, it was possible to earn 2.500$ per BTC traded just by following those turning points. I was also amazed how well it went and I left that analysis with a conclusion that we are entering the 3rd, impulsive wave now that should take us to 12.500 area.

I am posting this idea in it's early stage, so we can easily follow how it develops. I am not sure about it yet to make any recommendations, personally, I am long since the recent dip, as indicated in my previous posts, and I may be adding more funds to go long if we make a pullback to just below 8400 area in a next day or two.

Few notes regarding the chart:

- we are near the channel resistance which connects ATH prices in December and recent March 5th highs; I think we may pierce this line for a brief moment, then we will fall below it again, only to decisively pierce it again and not returning below it for quite some time.

- I've added Fib time zone indicator for experimental purposes so we can all see if this can be useful in future analysis.

Feel free to follow & receive updates as they come.

Trade well and remain profitable!

註釋

Looking at the chart, 8750 acted as a turning point, directing the BTC to the projected 8375 level. We are yet to see if 8375 is going to be a proper turning point, as I am writing this current price is 8520, and I expect us to move upwards to pierce the brown resistance line for at least a brief moment before going through it for good.

My purchase orders got filled at 8375 and I may unload this amount at around 9650 while keeping majority of my portfolio long to close at final stages of this major wave 3 which may be at around 12.500 level.

Enjoy the day and remain profitable!

註釋

Quick update, I have one count that suggests we are about to go to the 9400 level in the next push as drawn on the following chart:

I have added more longs at 8886 and will look to close them near 9400 if we reach it tonight.

Stay tuned and lets see how this unfolds.

註釋

To avoid getting near to the margin calls I have closed some longs. The sell off doesn't appear to slow down.

At 7651 BTC may see a bounce back as it sits at .786 Fib retracement.

However this has awfully skewed the uptrend potential and the chart I had in mind and I will write an update after we see where the new turning point is.

I know of many traders with stellar analysis who are in this for years now, some of them trading with upwards of 7 figures who have been caught off guard now.

Interestingly, amount of longs has never been higher, sitting at 38.000 BTC's just on Bitfinex alone, only to rise to 40.000, the absolute ATH just few hours ago so a lot of heavy weights in this right now yet we haven't seen a spike up so I recommend extreme caution and if we don't turn before, 7651 will be an interesting zone to watch.

Remain profitable and remember to maintain the order sizes at the level where you can be comfortable when swings like these occur.

註釋

Tuning in live to share my alert with you, we may be heading towards 5000 level as we speak. This may be the fifth major wave of the correction but we are yet to see. Closed all my longs and will short occasionally if this follows through. Stay tuned!