orminlange

How deep will be this correction...

BITFINEX:BTCUSD   比特币/美元
or is this end of Bitcoin's bubble? I see waves situation just like on my drawing. I warned before that dump will be painful (see my previous ideas, especially "Waves counting and future moves anticipating" for BTCUSD             ). Now most posible for me is reaching 5000$ as very important support level (previous ATH             , high of wave 3rd in 3rd in my counting) and 38.2 Fibo's retrace of wave 3rd (highest tier). Of course in scenario when 5000$ will not hold this dump, the counting presented will be viewed by me as failed.
评论: Alternative counting looks very awful for hodlers.


Market will show us the truth.
评论: My longterm holdings in BTC however are still not closed. Accordingly to my set of rules, if BTCUSD is above 38.2 Fibo retrace from ATH i hodl, closing is only triggered by crash of price significantly below mentioned 38.2 retrace, and closing is done when there is some bounce (minimum 50.0 retrace from dip to ATH).

See that here:
评论: Other chart, that better present my set of rules.

case 1st - BTCUSD stay above 38.2Fibo from ATH and the blue line (in this case i stay with my investment steady)
评论: case 2nd - BTCUSD drops under the red line (perfectly as close as possible to 50.0Fibo) - and i know in thta case, that i must close significant part of my position (50 to 80%) after bounces from levels around 50-61.8Fibo (bounce must be of course minimum 50.0 Fibo measured from dip to ATH, but i use sometimes 38.2, acordingly to fundamental situation of instrument).

What do you think of this bounce bitcoin just experienced - back up to $6400? I believe it is a dead cat bounce and we will continue downward towards the 61.8% fib level around the previous top at $4800. Although, I agree that this could be the top of a long term wave as per the elliot wave theory, in which case I believe this retracement will go very deep.
What do you think? I am holding ALTS.
回复
orminlange DeanJohnMuller
@DeanJohnMuller, 0.5-61.8 Fibo measured from around 7900 to dip (5000?). Now was dip 5400 so bounce from this point could reach minimum 6600 or more. It looks for now of course like You "said like dead cat bounce":)
回复
orminlange orminlange
回复
DeanJohnMuller orminlange
@orminlange, Thanks for the response. Glad you agree. I've always been into financial markets and tech analysis, however, I'm new to cryptos, so a little reassurance of my strategy is appreciated :) All the best
回复
orminlange DeanJohnMuller
Your welcome;)

If that bounce from 5400 will fail, there should be another from around 5000, also 50-61.8 Fibo is most probable.

回复
orminlange orminlange
And wish You the best too;)
回复
orminlange orminlange
Looks like those 5th wave on my previous did not reched 5000 and was "cutted". This things happen when the third wave is significantly longer than 1st. Bitcoin stays much move above 5000$ so for now it's bullish. Of course i dont take now any position, because playing contratrend will "cut the hands" of trader. And playing long in so advanced trend is also very risky an awaits from trader maximum of observation and time for it. I prefer longterm holding, after buying much undervalued coin/asset, and patiently waiting, waiting and ... waiting for bubble to occur.
回复
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的支持通知 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出