Let's update my prior idea "Bitcoin headed to 11'5k" because that level has been already reached.
We come from here:
https://steemit.com/beyondbitcoin/@luiggih/bitcoin-headed-to-11-5k-short-term-technical-analysis-elliot-wave
Three targets given, target 1 already reached.
And this is what has happened:
Trading idea has been a completely success: target 1 has been reached. Still room for higher highs.
Let's zoom out and check out main resistance zones as they're very likely targets to be reached.
As always, there is also the possibility of making a double top around 11.7k and retest the previous zone where this bull wave started. That will be a flat correction.
Play the numbers, get involved with positive risk/reward ratio trades and use your stop loss to protect your gains.
You might also be interested in:
https://steemit.com/beyondbitcoin/@luiggih/litecoin-will-outperform-bitcoin https://steemit.com/beyondbitcoin/@luiggih/bitcoin-headed-to-11-5k-short-term-technical-analysis-elliot-wave https://steemit.com/beyondbitcoin/@luiggih/eur-usd-potential-double-top https://steemit.com/beyondbitcoin/@luiggih/fibonacci-time-projections-key-tool-to-improve-your-timming-and-your-profits https://steemit.com/beyondbitcoin/@luiggih/bitcoin-three-reversal-patterns-spotted
Thanks for Reading!
Looks like the ABC correction turned out to be an extended one.
Complex corrections are very usual when an asset travels "too much, too fast" which is the usual in crypto.
Complex corrections are a pain in the ass.. but you gotta live with them to enjoy the bullish extensions too!
upvoted! What do all the dotted lines represent?
Thanks. Which dotted lines? Could you tell me which chart are you refering to?
So what you're saying is that you're a pretty good technical trader right? :) I would have to agree, since I've been following a few weeks.
I thought about the possibility as well for a double top. Personally, I wouldn't mind seeing BTC around $10K -$11.5K until I get my bonus in July:) But I have a feeling we will be reaching a new ATH by then and I would need to hold until Chinese New Year of 2019 to get my next entry point... Of course I'm joking. There will be too much money in the market by that time to have BTC go back down to $6K, but lets see.
I strongly believe that Elliot Wave is the best way to make profitable trades in the market. Fundamentals are important too but not that much regarding to get a good low risk entry point level.
I'm starting to think that too. Too much people waiting for confirmation in the inverse shoulders pattern. Could be a double top within a flat correction. Usually wave C won't dip too much where prior wave A was.
Regarding to your bonus... don't worry too much: I'm sure there will be good opportunities to invest that money!
I tell people often who are just getting into investing and asking for help, that there will always be more places to invest your money than you have the money to invest in. They get worried that they won't get a good price on XYZ company or miss so trend. Everything works in cycles. Some market segment is always valued cheaply with respect to the others.
I believe the good opportunities will be plentiful when it comes:)
You can also earn by making delegation. Click here to delegateFollow this link to know more about delegation benefits.Congratulations, your post received 16.89% up vote form @spydo courtesy of @luiggih! I hope, my gratitude will help you getting more visibility. to @spydo and earn 95% daily reward payout!