Phi-Deltalytics
Short

BTC - What's next? Are we done with the correction?

BITFINEX:BTCUSD   Bitcoin / Dollar
First of all, hope you all profited from the last correction up to 8.8k. We saw the first confirmation a week ago when the following idea was posted. The 2nd and 3rd confirmation were met around Oct 6th , with the 4th confirmation soon after.

So what now? Sometimes, we do see the 4 confirmations being met twice, with the first time followed by a ABC correction. With the RSI failing its SMA & EMA , we could potentially see another oversold RSI giving rise to another confirmation 2&3 being met. If that happens, we would be looking carefully for confirmation 4 for entry on the long side.

The beauty of these 4 confirmations is that even if we completely wrongly predicted where BTC is going to go, we'll still be ok. For instance, as of this moment, we are fairly bearish on BTC , and expect the price to drop below 7.8k. If we are completely wrong, and price rises to 9k+, that's fine. Why? Because we will be looking for the 4 confirmations on the short side.

We've been getting some questions lately about when to take profits after entry. The "Take Profit" signals in the PD Crypto Performer PRO deals exactly with this problem. And learn when to reenter after taking profits UNDER A MINUTE.

For our advanced scalpers, the "Take Profit" signals could also be utilized for counter trend scalps. The key is using these along with EMA rejections either in the same time frame or a higher time frame. For instance, short when the 1hr red "Take Profit" occurs along with price failing to break 55EMA/200EMA on the 1hr or 4hr charts.

For more information, please check out phi-deltalytics.com. Let us know if you have any questions! We are here to help you profit!
Oct 13
Kommentar: Zoomed in for the last correction upwards.