Bitcoin nearing a buy zone [Market Geometry/EW]
已更新
• Made a new chart for BTCUSDT as I have taken up a new technique. It seems BTCUSDT is in a bit of a rut after flat-lining around $3000 on most exchanges, it failed to break past its All time high level and was then forced back down by the bears. It has also completed it's Elliot Impulse Wave, which is followed by a correction wave; It seems to already be following the correction and completing wave A to B of the correction wave. Now it is trending downwards into what looks like the completion of wave B to C. Prime levels to watch would be the 0.618 (2150USDT) retracement, and the 0.382 (1600USDT) retracement. If it shows strong support at the 0.618 retracement it could resume the closest trend to it; However if it closes below the 0.618 retracement we can assume it will travel down to the 0.382 retracement for a conclusion of this correction and a conclusion of the Elliot wave move (8 waves - 5-3 move).
• Godmode: The Blue line of Godmode isn't at the 20 mark meaning the downtrend is not yet exhausted. Like I said, opportune buy area would be between the 0.618 retracement and the 0.382 retracement, or just above the 0.618 if it finds strong support.
• Aroon: Aroon Up (Blue) line also crossed over with the Aroon Down (White) line indicating a confirmation of a downtrend, Aroon Down line staying above 70 indicates it is indeed a strong downtrend.
• Because this is a longer TA, I will not be posting specific Buy opportunities (Buy, Sell, Stop/Loss), as there are a couple ways this could go depending on the supports and resistances.
• Godmode: The Blue line of Godmode isn't at the 20 mark meaning the downtrend is not yet exhausted. Like I said, opportune buy area would be between the 0.618 retracement and the 0.382 retracement, or just above the 0.618 if it finds strong support.
• Aroon: Aroon Up (Blue) line also crossed over with the Aroon Down (White) line indicating a confirmation of a downtrend, Aroon Down line staying above 70 indicates it is indeed a strong downtrend.
• Because this is a longer TA, I will not be posting specific Buy opportunities (Buy, Sell, Stop/Loss), as there are a couple ways this could go depending on the supports and resistances.
交易進行
EW Zoomed in and on 3hr candles 交易進行
Still continuing wave C of ABC correction.交易進行
Still on track, still messing with altcoins.交易進行
Still trending downward.... next few days could decide which direction it will go for the intermediate term.交易進行
Still active, new chart on Bitcoin available aswell.交易結束：目標達成
Buy zone was reached, TP1 is $3270, TP2 is $3550, TP2 is $3900.
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