Time Frame: Daily
Predicted Direction: Long
BTC .USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Currently price is floating sideways, given that we have technically closed above the descending trendline with no bullish impulse is a warning sign for any long opportunities.
Personally i am sitting back watching price day by day as there is no clear direction to trade as of right now.
The 4hr TF is now producing a short opportunity should price break $6,600.
I will await a break & retest prior to a short opportunity.
I hope others we able to take advantage.
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I like the analysis, however i wouldn't try and predict too far ahead, especially with Crypto's.
It's not saying i won't be possible, however if for example it doesn't consolidate like you imagined you would wait for the next move and the next move etc and you may never get a trade.
I personally wait for the consolidation then trade the next impulse.
I hope the above helps a little.
As far as the full 5-step Elliot Wave is concerned, I'm automatically assuming price won't behave the way we all think it might. This is why I provide up to 45 hours straight, of live coverage. (This is my record so far. I desperately want to be right, so I can beat that record.) I am constantly checking each time frame, I have numerous different VERY powerful signal alerts in place. I understand what you mean about waiting, but I'm curious. How would YOU trade an impulse? What do you look for, what signals are you trying to achieve?
Thank you very much for the reply. Believe it or not, this is far from the first time you've taught me something. I've kept very, very close eye on your charts and I want to pick your brain as much as you're willing to allow.
Again, my goal is to become better than my secret mentor.
Yes, I've watched you for a few months. I've learned a few things.
Thank you so much for offering your charts to the world.