I still think BTC is going down to $4700 and my reasoning behind it is quite simple. If we look at the big pink arrow on the chart we can see a VERY CLEAR BULL TRAP.
Back at that point we were on a descending pattern (bear market) from $20 000 to all the way back to $10 000. The bear market was confirmed at $17 000 when we dropped lower than the previous low (right before BTC went from $17 000 to $20 000) and look at what happened when the price restarted going up. We got ourselves a higher high (pink arrow on the chart). Most specialist thought this was it, reversal pattern, back to the MOON PHASE. They drove the price from about $16 000 to $17 000 (BILLIONS of dollar injected into the market) -> Tricked everyone into re buying and then BOOM sold everything and created the 3rd wave which ended at $5 900 (which my team and I traded RISK FREE and got in at $5900)
I was able to predict the end of the 3rd wave ($5900) and successfully re enter the market at its lowest point by using Elliott Waves AND the same pattern is now telling me that BTC needs to drop down LOWER than the end or the 3rd wave (this is how Elliott Waves works). This fact combined with the previous Bull trap on BTC at $17 000 + the square up the big boys can get at around $12 000 (small red arrow on the chart) leads me to believe that we very well may be seeing a bull trap.
Now lets talk about the 3 possibilities I am seeing.
1. BTC cannot break past $12 000 and begins descending all the way down top $4700 area with minimal push back on the 3 levels on the chart (purple lines)
2. BTC gives us a bull trap, push the price up to $12 500 area then does 1.
3. BTC STRONGLY breaks past $12 500 area. QUICKLY reach $14 000 and from that point we can go back into LAMBO TALK.
I personally believe in 1. and 2. and I have to because RISK vs MANAGEMENT wise it is NOT safe to trade right now. Here's your 2 options right now:
#1 You leave your money into FIAT and if the market drops. You wait re enter at $4700 (or any point while its dropping) and make a BUNCH of profit. If it goes up past $12 500 you re enter a BULLISH market and have NOT lost any USD. You simply cannot lose USD by doing this strategy.
#2 You stay in the market. If it keeps going up you make an extra 5-10% from current price to $12 5000. If it goes down then all of your value is into a descending BTC, you cant really sell and you miss your opportunity to re enter $4700 and are not obligated to either HODL until it goes back up or take your loss and exit.
Now you gotta ask yourself: Are you in Crypto to make money and be smart about it? Or are you in Crypto because you want to press buy and sell buttons and GAMBLE?
The answer to this question is very easy for me.
Follow me on telegram if you want to be updated on this trade.
Like the chart if you agree!
Back at that point we were on a descending pattern (bear market) from $20 000 to all the way back to $10 000. The bear market was confirmed at $17 000 when we dropped lower than the previous low (right before BTC went from $17 000 to $20 000) and look at what happened when the price restarted going up. We got ourselves a higher high (pink arrow on the chart). Most specialist thought this was it, reversal pattern, back to the MOON PHASE. They drove the price from about $16 000 to $17 000 (BILLIONS of dollar injected into the market) -> Tricked everyone into re buying and then BOOM sold everything and created the 3rd wave which ended at $5 900 (which my team and I traded RISK FREE and got in at $5900)
I was able to predict the end of the 3rd wave ($5900) and successfully re enter the market at its lowest point by using Elliott Waves AND the same pattern is now telling me that BTC needs to drop down LOWER than the end or the 3rd wave (this is how Elliott Waves works). This fact combined with the previous Bull trap on BTC at $17 000 + the square up the big boys can get at around $12 000 (small red arrow on the chart) leads me to believe that we very well may be seeing a bull trap.
Now lets talk about the 3 possibilities I am seeing.
1. BTC cannot break past $12 000 and begins descending all the way down top $4700 area with minimal push back on the 3 levels on the chart (purple lines)
2. BTC gives us a bull trap, push the price up to $12 500 area then does 1.
3. BTC STRONGLY breaks past $12 500 area. QUICKLY reach $14 000 and from that point we can go back into LAMBO TALK.
I personally believe in 1. and 2. and I have to because RISK vs MANAGEMENT wise it is NOT safe to trade right now. Here's your 2 options right now:
#1 You leave your money into FIAT and if the market drops. You wait re enter at $4700 (or any point while its dropping) and make a BUNCH of profit. If it goes up past $12 500 you re enter a BULLISH market and have NOT lost any USD. You simply cannot lose USD by doing this strategy.
#2 You stay in the market. If it keeps going up you make an extra 5-10% from current price to $12 5000. If it goes down then all of your value is into a descending BTC, you cant really sell and you miss your opportunity to re enter $4700 and are not obligated to either HODL until it goes back up or take your loss and exit.
Now you gotta ask yourself: Are you in Crypto to make money and be smart about it? Or are you in Crypto because you want to press buy and sell buttons and GAMBLE?
The answer to this question is very easy for me.
Follow me on telegram if you want to be updated on this trade.
Like the chart if you agree!
交易進行:
We've successfully broke the first level giving us a lower low and a lower high. BTC is working VERY HARD to break the $11 000 - $10 400 level. You can see very big shadows on the candles meaning the buyers are fighting this move very hard but they are losing. The big boys are driving them dry and still running the price down. IF the price keeps going down we will start hearing Fundamental News bullshit very soon.
The momentum is switching from buyers to sellers right now. The 5th wave is still on and to a strong beginning.
We've successfully broke the first level giving us a lower low and a lower high. BTC is working VERY HARD to break the $11 000 - $10 400 level. You can see very big shadows on the candles meaning the buyers are fighting this move very hard but they are losing. The big boys are driving them dry and still running the price down. IF the price keeps going down we will start hearing Fundamental News bullshit very soon.
The momentum is switching from buyers to sellers right now. The 5th wave is still on and to a strong beginning.
