WOW! The LIE About BITCOIN -This Is What Will Happen Now- MAYBE!
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Hello My Dear Friends <3
So yesterday I literally nailed it, when it came to finding the bouncing area. BUT that was not good enough. I did expect more. I assumed we were done with our Blue A-Wave correction, and was about to ride up on the B-Wave. Everything was also looking good for at long time, all the indicators were pointing in that direction.
But when we couldn't break the 6,900 USD level, and get our 3rd sub-wave going. I then started to doubt if this scenario was the right one.
We now got more data, and we obviously have to adapt and adjust to our new knowledge. As you can see, I have moved Wave A further down in the 6k area. The reason for that is, that a bear flag has taking form, which predicts we will go lower very soon.
The RSI also confirms that. The price is making higher lows, but the RSI is making lower lows. This is called Regular Bearish Divergence, which is a reversal pattern, which means we will go down.
All this together will also match our sub-waves I have drawn for you in pink. The 3rd wave is reaaally long (around 326 % percent of the 1st wave) but it's still valid according to Elliott Wave Theory and Fibonacci Ratio Extension Relationship.
Expect therefore, that we first will go down to around around 6,400 USD, where we also have the shortest Low Volume Node. We can expect a small correction there - hereafter we will probably go down to 6,000 USD.
D4 Loves You <3
Once again. I would appreciate a LIKE - It will encourage me to make more free content for you guys :)
So yesterday I literally nailed it, when it came to finding the bouncing area. BUT that was not good enough. I did expect more. I assumed we were done with our Blue A-Wave correction, and was about to ride up on the B-Wave. Everything was also looking good for at long time, all the indicators were pointing in that direction.
But when we couldn't break the 6,900 USD level, and get our 3rd sub-wave going. I then started to doubt if this scenario was the right one.
We now got more data, and we obviously have to adapt and adjust to our new knowledge. As you can see, I have moved Wave A further down in the 6k area. The reason for that is, that a bear flag has taking form, which predicts we will go lower very soon.
The RSI also confirms that. The price is making higher lows, but the RSI is making lower lows. This is called Regular Bearish Divergence, which is a reversal pattern, which means we will go down.
All this together will also match our sub-waves I have drawn for you in pink. The 3rd wave is reaaally long (around 326 % percent of the 1st wave) but it's still valid according to Elliott Wave Theory and Fibonacci Ratio Extension Relationship.
Expect therefore, that we first will go down to around around 6,400 USD, where we also have the shortest Low Volume Node. We can expect a small correction there - hereafter we will probably go down to 6,000 USD.
D4 Loves You <3
Once again. I would appreciate a LIKE - It will encourage me to make more free content for you guys :)
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Peter L. Brandt, famous trader from the 70s, and author of books on TA and Trading:"Always an amusement to me when people go out of their way to remind me of bad calls. Sorry, both profits and losses are part of trading.
Deal with it!"
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Found out, that I made a mistake, while I was making the chart. I was too quick to publish it.We didn't have regular bearish divergence before as I said. It's of course hidden bullish div, which is a continuation pattern.
Right before we had Regular Bullish Divergence, which is a reversal pattern.
Sorry for that <3
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So as you can see we are located in a pennant. The things about pennants is, that if a steep downtrend has obtained right before the pennant, it usually predicts, that we also will have another steep downtrend afterwards, if the bulls don't manage to get out from the pennant.Let's see, what's gonna happen!
D4 Loves You <3 Pls give a LIKE :)
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So we fell down, and are now on 6,555 USD. I just woke up, guys. So bare with me.I will follow up on this later <3 Promise. Pls. leave a like!
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I've counted the Elliott Subwaves for you (in orange) - everything seems to go hand in hand! Please also pay attention to the 2 dotted up trend lines.Expect a bounce from 6,132 USD - 5,953 USD!
D4 Loves you <3 Thank you. Once again. Thanks for all the love and support - it would make me happy if you gave me a LIKE :)
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We will SOON fall lower. As you can see we had a steep downtrend, and have not for the last 8 hours seen a consolidation. A pennant is formed. It basically means, IF the bulls doesn't matter to go higher very soon, we will go into another steep downtrend, and break the 1st upper trendline.
D4 is here for you guys. 7 days a week, 18 hours a day - Please give like <3
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Here is another way of showing the same thing so you can see why and how Elliott Wave Theory has a clear correlation to classical charting and patterns.That's also next time you hear people say, that EW doesn't work, it tells us, that they don't know what they are talking about. It's just another way and another tool to illustrate the same thing.
You can see, that we are in a descending wedge, which is a bullish pattern. We will eventually jump out from out.
I still believe, as Ive said from the beginning, that we will go lower to around 6,400 USD before we will see a break out and a smaller correction.
But let's see :)
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Boring asf... We have been going sideways for 16 hours now. Indecisiveness. If we manage to break out soon, you can get long on a smaller correction.If we go down we will probably go to 6,4xx, and escape from the descending wedge there.
We will hopefully soon get a confirmation for one of our directions. No matter what happened, 6k is still our target for now!
D4 <3
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Finally something happened! We fell down.... BUT... As you can see we now have regular bullish divergence. Price is making lower lows, while the RSI is making higher lows (green lines).That is a reversal pattern, which predicts, we will go in an uptrend now.
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So we broke out- as I said in my earlier update, there was a chance after we hit the up trendline 1, that we could see a bounce and break out from there. And there were 2 reasons for that. First of all the up trendline 1 has proven to be a super strong support level and secondly we began to see some bullish divergence, which predicts that we we would change direction.
Please give a LIKE, my friends, and I will make a new chart for you very soon <3
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To make things clear:I'm still bearish - And I have been that the last 2 weeks - Just because we have a smaller correction to the upside, doesn't mean I'll change my mind.
We are seeing smaller corrections ALL the time.
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BUT if you are good trader, you can try to figure out when these corrections and swings are occurring, like I did with the break out from the descending wedge, but it doesn't mean I'll change my over all opinion, that we still will go lower, and also go to 6k eventually.
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