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Bullish continuation

Description chart short-term setup:

- Possible Zigzag (5-3-5) or Triangle formation.
- Touched mimimum retracement 0.618fib.
- Price action above the 0.618fib at $0.02907 will invalidate Zigzag pattern.

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Correction: did not touch the 0.618fib level at $0.02707, but closed at $0.27143.

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If price can break $0.032447 price can go up to $0.034139 for either a 3rd wave of 5th or a flat correction. Both have confluence at the $0.034.

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Target reached.

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Bitcoin looks bearish. Broke the 0.618fib. Not expecting anymore higher highs.

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Keeping this BTC scenario in mind.

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RSI trend break. Potential last wave up. See targets.

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First target reached.

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Hard to decipher what structure we are looking at. Feels like an ending diagonal. Keep an eye on any trend breaks. At the moment rsi & macd still looks good.

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Strongly believe in technical analysis. However, the BTC layer 2 & RBG++ narative could strongly influence CKB's value. Keep that in mind.

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Hit the 0.618fib retractement. Wait for bounce to take some risk off and determine the type of corrective structure before taking any position(s).

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Potential last motive 5th wave down. Before commencing wave 2 or wave B. dotted fib levels represent finished 5th, whereas straight lined are wave 4 retracement fibs and potential wave 5 target fibs.

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These are the worst type of corrections..

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İşlem elle kapatılmış

CKB had a massive 3rd wave run (5.618fib extension). I have taken some risk off on this bounce (25%). Bitcoin still looks very corrective. Unless price breaks previous high at $72698, I don’t expect CKB’s price to reach a new high. Expect a sharp impulsive correction for wave 4 (rule of alternation, flat corr. Wave 1-2).

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If BTC fails to break $72117 then expect lower prices.

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Potential C wave in the making.

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Warning! Noticed a wick below previous low present at binance but not at kucoin. The market is currently bleeding.

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The question right now is where are we? and where are we heading? so we can make a plan.

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Potential finished leading diagonal (submicro, 15min).

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BTC zigzag (ABC) got invalidated. Expect more downside.

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Quick update on CKB.

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Not sure what we are looking at atm. Price is trading at 0.618fib level. What I do know is that we are still trading in an acceleration channel, which indicates that the correction is not over.

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Made some adjustments to my main count. Still good for a final leg down.

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Food for thought. Is BTC currently printing an expanding diagonal (15min)?

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or an expanding triangle?

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Previous CKB count got invalidated. Don't have a good alternative. Multiple 1-2 setups are possible, but less likely. I do expect one more wave down for BTC. Thus CKB should experience downwards price action as well. Examing CKB's chart, we can identify a bear flag. Time will tell.

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Quick update on BTC. I see 5 motive waves down, but believe there is more downward price action to come, because it failed to make a lower low. Wave 5 passed the 0.886fib, which makes it less likely for a wave 2 and wave 4 looks i.m.o. very corrective and not impulsive.

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For discussion/educational purposes:

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More food for thought.

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Short-term targets for a potential finished wave 4 (black wave C). Could be part of a larger ABC (orange).

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Bitcoin seems to move in an ending diagonal.

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Keeping these BTC scenario's in mind when looking for some entry points.

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Still uncertain on Bitcoin's trajectory. Ending diagonal still seems viable. Price action is still moving in 3 waves, but we just printed a double bottem. Patiently wait for confirmation.

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Break above $64200 with pullback to neckline will confirm bullish momentum. Keep in mind that wave 3 submicro might still be part of a larger 3 wave. That will invalidate double bottom.

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Without knowing where we are and what structure we are looking at. I will only become (short-term) bullish once resistence gets broken at $0.021753.

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Bitcoin low might be in. Took an entry and wait for potential wave 2. Any feedback would be welcome.

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Previous chart was incorrectly labelled. The ending diagonal appears in Wave C of a zigzag. Wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 3 is shorter than wave 2.

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Coming to a crossroad..

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Simple trade setup. Expect a last wave up for a potentially finished wave C. Confluence on the 1.236fib level.

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Potential explosive bullish ride on the horizon for Bitcoin. Multiple 1-2 setups that could lead to a very impulsive wave 3. Leading diagonal got invalidated, wave 3 was the shortest. Closing this post on CKB and start fresh.

HeftyBreadRoll

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.

HeftyBreadRoll