Elijah_Trading的KRAKEN:XBTUSD的2 Options for BTC - But $10,500 is Still Favorable

2 Options for BTC - But $10,500 is Still Favorable

Personally, I'm still Bullish on BTC. We took the red pill option (see related idea) and we're currently falling to our support box. I'm favoring the chart on the left. Because all this looks like is an ABC 3-3-5 correction. I'll go over the indicators and how they are fairly bullish in a few updates, but as mentioned... I still think we fall harshly after the $10,500 target is reached.

The chart on the right is a valid, but very bearish predicament. I think the Daily and 12 hour charts are a bit too oversold to carry us all the way down to 7k again. But we still need to consider it due to the credibility of that being a valid count.

$8650-8720 is still the short-term target, and I'm definitely buying there, but I may not hold unto it if its apparent we cant break the yellow resistance.

More updates to come! :) Here is my twitter account for short-term updates. twitter.com/CryptoEBall

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We can still break the $8550 support and hit 8k. BUT it doesn't seem likely according to indicators. The daily MACD is definitely of concern. But sometimes a crossover is short-lived.

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12 hour chart.

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BTC likely to finish ABCDE triangle.

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twitter.com/CryptoEBall/status/991753292752588800

Here is a link to a short-thread on risk management on my twitter page. It came up today and I want to make sure that you all have a strong basis on how to manage risk, and what it is. This thread is not all that descriptive, I will go into depth on a new educational post on here. But it came up today and I cannot stress how important managing risk is. A lot of people on Tradingview want to be told what to do, and where things are going. But do not understand that trading is a concept of probability and options. We must REACT to the data that is given. YES, targets are nice and help guide us, BUT, you have to know what to do when things don't go your way.

A lot of people on here don't look at updates and trade on the initial post. PLEASE don't make blind trades on the initial posts that are made from ANYONE on tradingview. That is gambling. You should understand that overall idea, THEN make analyze yourself and wait for confirmation signals to make the trade. Specifically my posts are just ideas that I will bounce updates off of. My duty this summer is to provide information to help you all make those decisions for yourselves in educational posts.

Make sure you do your due diligence and try to analyze the charts yourself. If you don't know how to make basic analyzations: STAY AWAY FROM TRADING. I lost SO much money trading when I first started because I was playing with too much with too little experience. I wish i started investing THEN took time to learn advanced trading strategies with small amounts of money. Investors VERY OFTEN outperform the trader.

Again, if you follow blindly with anyone on tradingview YOU ARE GAMBLING. There is a reason I don't have a big following on here, 1: because I have a lot of shit analysis LOL, and 2: because I stopped giving buy and sell signals and started delivering OPTIONS. In this space people want to be told what to do, without the knowledge of how things work, how things can go wrong, and without the will to learn. It's kind of why I don't like tradingview. A lot of those traders get pushed to the top with basic TA (*Cough Cough Magic Poop*) and leave some of the best traders I know at the bottom. I sincerely don't want to help those that aren't willing to learn. I am STILL learning, and STILL making mistakes. But If I can take just a few people that want to get better, and grow with them along the way, then that is satisfying to me. Not everyone has to be a full time day trader, but understanding basic concepts is what I want to really focus on this summer for you all. It's going to be big.

One mistake that I have made in the past are making predictions too far out within this market. I am still new to crypto. There are coins that I have had genuine analysis with, that definitely had potential, but Bitcoin just controls too much of the market space. And Bitcoin literally disrupts possible paths for other coins with bullish intent. I apologize for those posts, but please know I've put time into those and they came from a good place. I will try to only keep long-term posts restricted to Bitcoin as that is what matters the most.

But please, take a look at the twitter thread and give me a follow. I am moving nearly all short-term posts to my twitter page. It's just a lot less clustered on Tradingview doing that. I will also talk crypto and other useful information while having some fun. I truly just want to help, but I'm slowing figuring out what the best way to help is. This past semester has been slow due to school and other commitments, but I am ready to ride this summer! I will still be taking classes and doing football, but I will definitely have more time.

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Some people will not even read that update either.. But it is SO important to understand when trading. It's the most dangerous, competitive games in the world. Don't enter if you aren't confident in YOURSELF! :)

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"STAY AWAY FROM TRADING" until you grasp an understanding of trading techniques. Looking back at that post it looked like I was being extremely deterrent on making trades. Sorry if it came off that way. I just want to make sure you all have strong understandings on how to read charts before making trades. Without that, making a trade is dangerous, and it often causes you to lose control of your emotions. Trading emotionally is SO dangerous. That's why I say you cannot get emotionally attached to your money. It can take the worst out of the best traders. Always stay calm while making a trade. The easiest way to stay calm is to have confidence. And the easiest way to gather confidence is working on your craft.

In football, I am extremely confident in my ability because I work it on it just as much as trading. No matter who I go against, I'm confident that I can win. And when I lose, I re-evaluate my mistakes, learn from them, and work on them so that I can come back better next time. It is the EXACT same with trading. Losses are lessons!

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2 counts here. I actually like this first count better.

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those are the same.......

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BOOM

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I have already mentioned how this market may soon see a reversal. This is my updated wave count on BTC where it may end at 10k. 5 waves will be counted there. It just depends if we get an extended wave or not. Caution caution caution. Not saying this is the end. Just saying have caution.