BTC SHORT to 70 - 80K

7 gen

This looks like a flat A, B, C correction for BTC. There should be a good point of exit coming up with a micro wave 2 up to around 99-100k before a bigger wave down. If we can break above 100k and then 103k and close the daily it would invalidate this. This should take days to weeks to play out.

7 gen

Trade attivo

Also, I would like to note that it would create a head and shoulder if you look at the chart. The right shoulder forming now.

8 gen

Nota

yes, this could be market manipulation, but it doesn't mean we won't head lower on a C wave. That being said, invalidation still means we would need to go above the 103k and hold a close on the daily. With the Trump scenario anything can happen. In the short term we are severly oversold on the 1 and 2hr and we have a buy signal on both in Lux Algo. I would expect a bounce. I am keeping my eye on the volume and the level it rises to. I will be getting ready to short this. Please do your own research, this is not financial advice.

8 gen

Nota

So we've gone slightly lower, looks like we are getting a bounce now. So look for the wave 2 to go up to around 97k or low 97k before a rejection and another drop. The question is, will that rejection turn around on the way down or keep going through the wave 3. My bet is on the wave 3 so if you're looking for a time to short or sell, that might be it. Definitely DYOR, not financial advice. Nobody really knows what will happen next, it's an educated guess honestly. good luck

8 gen

Nota

Also, keep in mind, on the hourly, we are putting in a higher low. I know people are going to use this as a sign that it was a shakeout and we are turning the corner. In order to confirm the move down, we need to put in a lower high, which is it plays out as I have it, we will break the last low and go much lower into the 70's 80's more than likely. Keep your eye on the 97k area for a rejection and then watch the way down with a tight stop loss. If it's the wave 3 down, it will go much lower. Right now we are getting the reset for expect up for today in the wave 2.

8 gen

Nota

Alts are not showing strength right now. The major ones are slightly down and not moving. We are waiting for BTC to go up on the wave 2, but also the volume on the micro isn't looing promising. We will continue to monitor this.

9 gen

Trade chiuso: obiettivo raggiunto

there doesn't appear to be a 2 wave up. That could still happen, but it's looking unlikely. I think we may have gone through this micro wave count. This means we could still see lower down to mid 80's to low 90's. Stil waiting to see how this plays out, but it's looking very weak.

9 gen

Nota

I'm still in a short position, just not as low possibly

10 gen

Nota

We could still go lower, but the structure laid out here is not right. So we could go up to 98k or so, look for a rejection or continuation there. If we reject, I would put the target to at least the mid 80's, if it continues, that would be bullish.

13 gen

Nota

We have reached 89k and are still on track for at least 85k. The head and shoulders would actually put us around 76k, so keep that in mind.