BTC tests 10K range. Will it hold?
On a 4 hour chart, we see BTC slightly close above the 55 EMA, but was rejected quickly. Along with the RSI, we cannot break into the bullish 4 hour zone above 60+.
Where is the 5th wave on C? We see a 1:1 extension for wave 3 of wave 1. We will most likely test $10K ranges first. If that falls, we will test $9,200 ranges. Then most definitely high $8K ranges if the previous low of $9,200 fails.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - Tutorial Part 2 How to Analyze Candlesticks Charts with Strategy
Lesson 3- Let's learn Moving Averages
Lesson 4- Let's Learn Relative Strength Index RSI with Advanced Strategy
Lesson 5 Let's Learn MACD and Histogram
Lesson 6 Let's Learn Margin Trading Long, Short, Leveraging
Lesson 7 Let's Learn Basic Risk Management
Lesson 8 Let's Learn Fibonacci Retracement Part 1
Lesson 9 Let's Learn Fibonacci Extension Part 2
Lesson 10 Quick Intro to Analyzing Level 2
Lesson 11 Introduction to Laddering
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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.
checked your video from you tube, not bad, lolz... later you become popular like haejin and then the bernie comes ....
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When pretty much everybody was being much more objective saying it would be better to take the money and put it out of crypto until we see what will happen because it looks like the bears are coming...
Haejin was shilling and still is 10 coins a day saying they will all skyrocket and that people saying the bear market is coming are in the wrong.
Because of how many people follow and praise him I listened to his words and not the others.
So now thanks to his advice I bough cryptos at their TOP around new year and my portfolio is at -50% of my hard earned money. Possibly trapped in some shit coins.
Sure my fault for listening the guy, got burned and learned my mistake. Still hurts like a motherfucker though.
Yesterday i checked and in this last year close to around 1000 coins out of 1400 gave at least 50% profits or more if you would have have hold them till today. A kid could have drawn graphs saying xy coin will go up and they would be probably right.
I am still a total newbie, but Phil in my opinion is really trying hard to be objective about the ways it can go. But most importantly he is trying to also give advice on managing risks and not just drawing graphs flying to sky.
What im trying to say is Fuck haejin.
People like Phil and many others gave and are giving a damn much more solid advice and putting allot more efforts into giving value and teaching about risk/reward management. They are also much better TA's. Haejin is a scum that is hurting people. He is also robbing outer steemit users out of the pool money and that is why bernie is so pissed off. I also thought in the beginning bernie is the bad guy. Turns out nothing is like it seems.
In the end do your own research but don't be so fast to judge bernie as bad and haejin as good or you just might get burned like i did.
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Upvoted. Now that's some teaching. Thank you very much, I've learnt a valuable TA lesson thanks to you.
@philakonecrypto I have a practical question though: On bitfinex, how do you display this colored moving average yellow line along with the others? I could not find the yellow one actually, in spite of having tried many indicators... What are the exact names of all the MA you're using in this video? Thank you very much!
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Sifu, once again, great stuff! Having learn some EW and following your teachings all these while, I've been counting waves and am happy to gain enough knowledge to count and draw those waves too - and yes the 5th wave down is still missing, which is also the big primary wave "C" correction to below $10K region.
To me, gaining these skills are so much more valuable. I'm arm with knowledge that helps me to stay calm even with these highly volatile movements.
I've sold most of my holdings (for cash) and even started shorting BTC at that wave 4. Will try to catch the end of 5th wave. See you there!
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This is reassuring.. thanks
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thanks, could you please post when you guess the bottom is reached !!!
Popcorn Long!!
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Hey Philakone, it looks like we are still in the 2nd Wave of the 5th and have not reached yet the 3th wave.
Cause the 3th Wave is almost the longest and never the shortest.
Thanks
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I'll be saving money to buy in at 8k!!!
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You release a hit of dopamine when your content teaches me something new. You're gonna be a fucking drug Phill. I think i'll call it... Cryptonium! (que laughter) :'(
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