Short Term Target. The Rest is Unknown
We find Support at $7,800 regions where it is constantly rejected at the trend line support
EXTREMELY IN-DEPTH ANALYSIS
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Weeks) - Bullish
Short Term Bias (Today) - Neutral (Maybe Neutral to Bullish
Long Term Target Prediction - $30,000+ by 2019
Short Term Bear View - $7000-$7500
Short Term Bull View - $8500-$9500
On the big picture, we notice a massive wedge, where the bulls and bears eventually reach a critical apex and one ends up giving up.
I want to be VERY CLEAR that if my support Near $7500 range does not hold, we will without certainty trend to lower $7,000 ranges first.
I'd also like to state formally about, "wave 4 cannot overlap wave 1 territory," has many sub rules that must be followed and is important to consider. Here are a few shown and there are dozens more.
This is the my main count which seems clean in price action and magnitude.
Case two is not as likely to me as I would consider above the correct count for the origin of the final wave. Though I must state it regardless.
Therefore, based on the defense constantly of the bulls @ $7,800 range, and the mentions in the video, also assuming $7,500 holds, I'm led to believe that $8,500 is our first target at the trend line resistance. The rest is unknown and to be determined
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 philakonecrypto, where do you get the short/long positions chart. Ive looked on tradingview and nothing. I found one chart on bxdata but its 2 weeks behind??
Great vidz by the way, it fills me with hope when even bears like you are seeing a bottom is near :)
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No reply? :((((((((((
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Learning a whole bunch from you. All your posts, tweets, and videos help tremendously. To be a trader we must learn to think like one.
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Really appreciate this and it’s amazing to see how you decipher these graphs
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glad you're enjoying it! :) :)
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Thanks for the fast updates!
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Had to get it. Stuck in my head on replay until it's solved.
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Love your enthusiasm. Appreciate your analysis
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I'm tired in this video :( My pleasure my friend.
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Just in case you weren't joking . Here is Bitcoin address 1Q6HakEhBuDZ8dEZ8RUEdGU1x9hnZVuoJT
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<3
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Giggle
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Great work.. Thanks
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great work, you made me smile
wish I'd followed you before I lost most of my money :)))
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People should stop looking at the BTC/dollar value. You bought coins (BTC or alts) and you still have those coins. Rigth now you shouldnt look too much and wait until this bear market is over and that can take long! Longer then you want it to take and longer then you expect it to take.
Eventually we will go up again and you can start looking at the BTC/dollar value again in case you want to sell and make profit.
What is happening now ....happens in all markets and people with patience will be the winners!
Good luck!
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Just love your TA videos. Highly detailed and with proper reasons for your thoughts rather than difficult rhetoric. Very leased I stumbled across your channel on YouTube and can't wait to get stuck into your tutorials. With the market the way it is it's very easy to think we should be selling but things like this help me keep on track. Thanks.
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Why the current wave cannot be an ABC corrections,sub-wave 5 of wave 3 of wave C?
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Thank you for all the job you're doing for this community Phil!! I have a question for you, I'm from Spain so I use € as currency. I started a small cap account on Binance with 200€ in BTC and 200€ in ETH. My goal was to day trade or swing trade the alt coins. With the actual scenario, I have all my money stuck with ADA/BTC and ICX/ETH, and I'm waiting for it to bounce up... I was thinking of trying to day trade the alts with USD but that will be a bit confusing since I use €. So, here's the question: do you suggest me to trade with USD? €? Or keep trading with BTC and ETH? Thank you!
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Hey, you are on CoinTelegraph:
https://cointelegraph.com/news/bitcoin-prices-again-below-8k-but-traders-forecast-fresh-upside
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At the end of it all, what is it worth? Sentiment.
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Very comprehensive, I'm impressed by how quickly you can analyse and keep up with the market
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16 hours a day of my favorite hobby. I appreciate flattering me. You probably just want my dog hehe. <3
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Thanks Phik. This days you are helping me a lot with your job!
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no problem enrique :D . sorry i don't chat much. am just so busy lately.
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Thank you Phil, I have just registered my steemit account to upvote you!
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Welcome to the community! I kindly appreciate it and hope to see more of your comments.
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For you, on steemit. You sir doing a great job !
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Just got my steemit account. Will be upvoting your brilliant work on here going forwards!
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and the upvote goes to..... !!! ;)
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I think you mean "without a doubt" rather than "without certainty" which is the exact opposite (ie. you doubt that would happen)
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English is not my first language believe it or not.
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Oh...wow...you replied...I...I...I'm kinda in awe. Was more talking to myself. Huge fan. Feel like I've just met a celebrity on the street and made a complete dick of myself. Sorry? Oh god.
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Thanks for the wealth of information. I have zero knowledge in trading and watching your videos helped me understand the basics.
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So engaging to hear your thought process as you explain different theories. (aaah elementary dear Watson) It really helps me get a feel for how the different signals on a chart work together. I sit here and watch how these charts form, ebb and flow. Can't wait to be able to work out when to get in! Hope Binance add Shorts soon, though their interface is really buggy and chokes up. Trading View is good but I can't afford it yet so it's the free account for me!. So many cool tools for nix.
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Awesome to hear you're enjoying the content. Practice will make perfect. I think Binance will get better in time. By the way, I use tradingview and the free one. You can get 4 indicators on there and that's enough for me Though if you need more indicators, yes have to pay. I'd give them a shot.
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Super comprehensive and I learnt new things from your video as always! Especially on the TA thinking principle to prove own self wrong! Upvote!
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this is great! thanks bro!
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Hey thanks again for another very informational video!
I am currently trying to learn Eliott Wave and Patterns from the books,
(Technical Analysis of Stocks by Edwards Magee bassetti)
and Eliott Wave Principle by Robert Prechter.
Do you have any other suggestions for books and online ressources that can help me learn?
thanks alot again and keep up the great work!
And give Luna a treat for beeing such a great TA from me:D
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You are so informative and uplifting. Thank you for all the work you put in and the content you bring us.
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Always helpful ;)
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Upvoted
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I like the way you explain and visualize your analysis.
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thanks for all the work you're putting in <3
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