BTCUSD 1H chart (6/27/2019)
Good morning, traders. As I have been warning, the movements now become quite volatile, and deep on drops. The order books thin out below price as it heads significantly higher in much shorter periods of time. That means that price slices down through the order book when people start selling until it finds a zone of demand. Bitcoin's price topped out just under $14000 yesterday at the daily R3 pivot before dropping suddenly down to ~$11500, rebounding, and now I believe it's finishing up its ABC regular flat correction of subwave 4 of subwave 5 of wave 3. If so, then this gives us a target of around ~$11130 before price begins heading upward once more. We can see a clear descending wedge printing, so traders will find their long entry much less risky by waiting for price to move above the wedge's resistance. Members of our free and paid Discord servers were alerted on June 25th that price would likely top out between $13650 and $14800 based off my PNF (point and figure) chart. The reversal point also aligns with my previous analysis utilizing the pitchfork on the daily TF. I'll link it below.
If you make this chart yours, as described below, and zoom out to the 1D you will see more information such as the larger wave count I am still watching at this time and the pitchfork I mentioned above. Currently, it looks like wave 3 would end around the ATH, which should put it at the most outer band of the pitchfork, and wave 5 could hit 30K or potentially even higher, depending on the amount of FOMO coming in. Remember, anything above ATH is price discovery and price tends to move pretty easily through it as you've seen on newly-listed alts. If the count is as I believe it to be at this time, then wave 4 should retrace back toward the top of the 2018 TR at around $11000-$12000. Usually we expect wave 4 to retrace to the point of the previous wave 4 of the lesser degree (i.e. subwave 4 of the previous wave, which is our current wave). All this being as it is, if price continues lower at this point or the latter wave 4, then we should be expecting a bounce at the $10400/$10500 level, and below that at the $7500-$8500 level.
As always, I will be discussing this and more in this morning's YouTube video (link is below). The "more" often includes an analysis of ETHUSD, LTCUSD, XRPUSD, Gold, USD, and/or equities, as well as my thoughts on current news. So make sure you're joining me on Twitter, YouTube, and/or Discord. We'd love to have you following along!
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
If you make this chart yours, as described below, and zoom out to the 1D you will see more information such as the larger wave count I am still watching at this time and the pitchfork I mentioned above. Currently, it looks like wave 3 would end around the ATH, which should put it at the most outer band of the pitchfork, and wave 5 could hit 30K or potentially even higher, depending on the amount of FOMO coming in. Remember, anything above ATH is price discovery and price tends to move pretty easily through it as you've seen on newly-listed alts. If the count is as I believe it to be at this time, then wave 4 should retrace back toward the top of the 2018 TR at around $11000-$12000. Usually we expect wave 4 to retrace to the point of the previous wave 4 of the lesser degree (i.e. subwave 4 of the previous wave, which is our current wave). All this being as it is, if price continues lower at this point or the latter wave 4, then we should be expecting a bounce at the $10400/$10500 level, and below that at the $7500-$8500 level.
As always, I will be discussing this and more in this morning's YouTube video (link is below). The "more" often includes an analysis of ETHUSD, LTCUSD, XRPUSD, Gold, USD, and/or equities, as well as my thoughts on current news. So make sure you're joining me on Twitter, YouTube, and/or Discord. We'd love to have you following along!
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
Not
Not
Recent drop suggests zigzag, rather than flat, correction. No worries. The 30 minute bull div is printing wave 4. Wave 5 should target the red box. Notice the two similar volume bars? Same effort was produced but it resulted in much less result the second time around. We know this because the second candle's spread is mush smaller than the first candle's spread. That tells us that although practically the same amount of high supply volume came in, demand volume also showed up the second time to a much greater degree. This usually indicates that price is nearing a reversal. My long was I spoke about in this morning's video hit my SL so I will be longing again in the red box or after price breaks above the descending purple wedge's resistance.
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.