Bitcoin BTC Feb 4 Detailed Technical Analysis - Arguments and Deduction
Let's deduce based on EW counts if this is the end
Alternate count is below as well. Do NOT discount it and ignore it
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Days to A week) - Bearish
Short Term Bias (Today and Tomorrow) - Neutral
Long Term Target Prediction - $30,000+ by 2019
I want to start off by showing my ALTERNATE COUNT FIRST, which I do feel strongly about.
Here is an alternate count:
The rest is my main theory.
Looking at the daily RSI, and after an Elliot Wave count, we see it is incomplete.
Wave 1 and 2 are complete with certainty, though it is this green region based on Elliot wave that has various counts that raises doubt.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Tutorial Series
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Automatic Stop Sell/Buy Executions
Lesson 16 - Advanced 55 EMA Strategy with Time Frames and MACD Part 2
Lesson 17 - 6 Hours Live Trade Scalping. Growing $2,000 Account into $3,500
Twitter - https://twitter.com/PhilakoneCrypto
Youtube - https://www.youtube.com/user/philakone1
If I've helped you, consider buying Luna and myself a beer
BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.
Hey Philakone! Thanks for the sharing all the hard work you do to figure out the short term trends. I was doing quite good in day trading after 2 years however i finally end up by some steem and locking them as steem power so now i cant trade as much. However I think steem will be one of the greatest crypto platform of all time so i am glad i invested in steem. Again Thank you. Please also inform me of your opinion about bitcoin price for long term lets say 3 months out.
I just wanted to also introduce myself to you. I have maths and mechanical engineering background just like you and along with mechanical engineering i got into bitcoin 1 year ago and have been involved in mining and in Dapp development. I have a team of blockchain developers and we are looking to work on amazing projects and ICO's consulting and etc. If you have any ideas for blockchain development or Dapps please do share and contact me. We are willing to work on any projects as long as they are connected with blockchain technology. The guys I have already have experience in Dapps and have worked with ICOs.
@philakonecrypto
Thank you for taking the time to explain the TA in detail. It's much appreciated. Especially your thought process - it is teaching me to think critically. If only now you would host teaching classes in person! :)
Very nice analysis
Keep up the good work!
appreciate the kind words always.
nice . please upvote me @cryptoearning
Phil you're the best TA the public has access to. Not only do you give your full thought process, you also truly want everyone around you to succeed like you do.
Haejin is a good guy, but you can tell he does it professionally, and steemit / youtube as a hobby. For you, I would describe it as a passion. And you are showing your passion in each and every one of your videos.
I, and Im sure many others, are eternally grateful for all the hard work, love, and dedication you put into your work. Please, PLEASE, don't stop!
#PhilakoneArmy
Drew super nice words. Do what we love and never call it work right?
GreAt analysis as always. You’re going to be reddit famous soon
who cares about fame :D all about helping others
Awesome TA. Keep it up - learning so much from you. You've mentioned that you have read so many books on Elliott Wave Theory. Do you have any books that you and Luna highly recommend? I'm looking at buying an Elliott Wave Theory book along with another book for TA.
You could even touch up on it on your next video as I'm sure your followers are keen on buying some books. :)
Thanks again.
yes great idea. I should write a blog about things like that. wow! brilliant idea. thank you.
You are not just lucky but you are just so good. I can see how hard you work from your analaysis. THANKS!
thanks for the kind words. let's keep up the work together!
Never stop phil. You doin work for the community.
I like the way you reason out the possible path ways with price levels and RSI! As a student for EW, I’m getting to a point where such detail explaination and reasonings helps a lot. More more more... :))