Bitcoin BTC - Feb 21 - Detailed Technical Analysis - Support Ranges, Targets
A risk analysis and probability video will be released soon to give
examples of how to play these support ranges
General Tone: Correction is in process
Support Zones are suggested
Recommendation is to watch indicators for signs of reversal,
and laddering buys accordingly
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week) - Bullish
Short Term Bias (Today) - Bearish
Long Term Target Prediction - Primary Wave 3, $35,000+ by 2019
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I charted this out myself as well and our targets for resistance and dumps were similar (pic). I was wondering what you think about different forms of TA giving the same targets. Does EW theory have a higher confirmation rate than other patterns? I originally started out learning EW but switched to Fibonacci retracements, price action and speed resistance fans to solidify my confidence in other concepts before I start learning about counting waves correctly.
I'm in the belief that the huge market buys were a way to pump the market too quickly so a short at 11.7k~ would be certain. Shorts volume increased by a huge amount since we hit $11,000!
I personally believe we'll be hitting your support one, and if we go past $9,600 there will be strong price volatility in the low $9,000s region, but I will be watching it more closely after watching. your video Thank you for the analysis :)
By the way, the Discord server I'm in is nearly all watching your Elliot Wave videos and getting feedback from each other. It's literally become a classroom LOL
@ the 9min mark, the fee calculation had 2MM used for the change in fee totals, instead of the 20MM vol used for calculating the original fee rate. I'm sure this is very well tracked since you operate on small margins where fees would eat you, but I wanted to bring it up for anyone else reading this & learning, who thinks the fees won't make a big impact (especially when you reach the point of fee rate reduction). His total difference on a 20MM volume would be $4000 per month by having a .0002 lower rate. Utilizing Maker vs Taker will ultimately be the largest gap, but any reduction does add up, especially if you are beginning & have a lower win:loss rate or are chasing trades and racking them up by market executing.
Thanks
Great analysis
pleasure beebee
Thank you
Thank you for the update.
Thanks man..
Youdaman!
you're the man sexy beast
Moar learning :P Thx!
Thanks dude!