I apologize for my absence! It was Independence Day, where I live, and 2 days later was my birthday, so it was a long weekend for me.
I have been planning and putting content for videos on D.tube. Until I am ready to post there, I will be only posting here.
I will be having daily updates at least on Bitcoin, but today I will start from a few months ago for a little backstory...
This is a pic of when I posted this idea in my trading journal.
The next image was my idea of a 4h Wyckoff range.
And the next image is a Cypher pattern overlaid. I had this pattern calculated at $17,600.
The Cypher pattern played out almost exactly as predicted! Well, almost exactly. I had it calculated for the 13th, and it happened on the 18th. Furthermore, it did not nearly get the reaction (bounce) I was hoping for. It only went up to 25k.
Now we will look at where we are today. I believe we are still in the 3 wave macro correction, as seen in the next pic. C was the original idea and landed perfectly with the Cypher. However, with new price action comes new ideas...
In the pic below you will see my newest Macro idea...
This is based mostly on Elliot waves but, backed up by Fibonacci and volume. ABC correction from April 2021 all-time high. We are on wave 3 right now and according to EW theory, it should be a 5 wave move from B to C. Five wave moves should have one pullback at 0.618 and one pullback at 0.382, it doesn't matter which order they are in. So, the first was 0.382 and for the second to be 0.618 the price needs to drop to about 7,500 or below. Below that is a major volume point of control, as shown on the chart. Then there is enough room for the 0.618 to happen without violating EW rules. As you probably already know, none of this has to happen. I make future analysis to have an idea of where it can go.
I am a range trader so, it really doesn't matter to me which way it goes or to where. But, the more confluences you have in your analysis the better probabilities you have on your trades.
In this space and in D.tube I will be teaching everything you need to know about range trading.
So, stay tuned!
See you tomorrow.
KryptoKino, over and out.
P.S. This is a MACRO idea and doesn't have to happen. Plus, there will be microwaves up and down in between. This is not financial advice. Just an overview of what could happen.