We got daily close 10750 then 2d close 10500 showing btc strong above 10k level but after btc went below 10k level again we should wait for the next daily candle close but we are still bullish because indicators now went very low and gave chance to form 4hr hidden bull div we were waiting for the last couple of days which is now very clear on rsi and macd
Previous idea:
Original idea:
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What a bear trap!! We did call for it guys, Btc reach 9600 area but daily candle close is above 10800 again! Since we hit 13900 in Jun 26 we expected to consolidate for about a week between 10500 and 11500 level with daily close above 10k level and we got that, during this week the lowest daily close was 10600.
And we said many times 10k level should not be broken with daily close and so far this stand strong beside 4HR hidden bull div completed we can officially say now consolidation has ended and BTC is ready to resume uptrend.
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This was a perfect matching for 2d close 10500 forming wave 2 in general wave 3 according to my waves in this post, now expect btc to take down the 2nd BLUE resistance line in next days and once it close 2d candle above 12k area, I am telling you guys BTC WILL FLY
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Bullish Descending Broadening Wedge In play!
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Inverse H&S inside the WEDGE which is more bullish pattern confirming breakout in the next 1-2 days
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The wedge still in play and developing as expected although it took longer time but the wedge resistance has been confirmed with 4 times touch lower low. As well as 11/11400 area holding very nice.
I am expecting breakout to upside in anytime very soon. Watch out!
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Watch out! We got the WEDGE Breakout! (click to read details)
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Bitcoin free fly incoming! (click to read details)
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As we said in last update, if the price go below 11500 with 4 hr candle close this will invalidate my view but We have got 4 hr candle close above 11600 twice and its very clear btc is reversing right now , We have got hidden bullish divergence on 4 hr which is very clear:
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Not only 4 hr bullish hidden divergence but also 1 hr classic bullish divergence as well as macd crossover, have a look:
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1hr classic bull div + 4hr hidden bull div ( CONFIRMED ) When i published this idea ( Bitcoin free fly incoming! ) before we drop from 13k level, I did explain its still incoming and retrace to 12k level is very possible and we did retraced below it as well as i said we should wait 2-3 sideway moves before shooting upside So the idea still in process and so early to judge when dealing with 2d time frame even if we got closed below 11500 in lower timeframes but we did reverse very nice after we spotted divergences just in time before it complete and we did share with you!
I really wonder some people who asking for updates privately or in comments without even pressing like to the idea!!! Another thing i would like to point out, look to the trend line:
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Bitcoin bull run fractals on daily - Targeting Golden Ratio! ( click to read details )
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1hr classic bull div + 4hr hidden bull div + 1d hidden bull div ( Completed )
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Correction is almost over - no need to panic! Although we got lower price but in my opinion it doesn't invalidate anything yet, divergences on lower time frames most of times are complex but its a clear sign that reversal is coming. So if we look to the daily, we can adjust the trendline and today candle close will tell us if its still valid. The pattern will turn to be a large pennant more than a triangle and both of them most of times are bullish when formed in uptrend.
The fractals on daily rsi&macd are almost completed so yea today should be the day to make it or break it. daily close below 10300 going to be very bad.
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Reversal: Resistance Turned Support - ( click to read details )
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Trap: BTC below $10,000 for the last time! ( click to read details )
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Anyone wondering what is the count for the previous bear market correction in my opinion:
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Check last idea to read updates:
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BTC is out of RED zone .. $23,000 Could be a new ATH! -- (click to read details) follow idea to get updates.
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Will BTC take over this stubborn resistance this time! ( click to read details )
We Certainly came close to that 10300 close. Thoughts Jo?
Jocoin
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@NonCoiner, Yea but i see it makes no difference, the idea still valid and if you look to the green support line where we bounced below 10k before in Jul 2 , that's another retest
devilninja777
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Should I keep my 10X long open? ^_____^
Jocoin
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@devilninja777, I believe so i still have my 25x long positions open since 3500 and added on the way up at 4900 and 7900
devilninja777
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@Jocoin, holy shit.... I only wish I could catch a good trade like that. Watch my 10x long placed at 12K get liquidated before we continue to 20K :( :( :(
Jocoin
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@devilninja777, I wish you best of luck. professional traders know how to make short term calls with high R:R but to catch a legend trade it requires a lot of sense and steady not just experience or knowledge!
To do that you have to learn how to be long term trader in a day trader style, currently i am on more than 1500% ROI I will show you it does exist just for motivation, have a look:
i.ibb.co/y4ZqW3B/motivation.png