IMPORTANT! So D4 was about to post everything, when we suddenly fell through and down in the downtrend channel. So when you read the following please have this in your mind!
D4rkEnergY is so happy to announce, that we for the first time since our All Time High at 20,000 USD (17.12.2017), finally is back in an uptrend. It happened tonight, when we finally broke out from the descending channel. On the 1D chart we right now have, beautiful support from the EMA50 and EMA100 right under us. And even better. The EMA200 is way under.
On the 4h Chart we will soon have a nice EMA-GOD-Cross where EMA50 is crossing EMA200 and going above it.
We are at this very moment at 11,000 USD (10,500 now). So first at all, our first goal is to keep the bears away from us, and don't let them push us down in the downtrend channel. That would be devastating. We most of all want to go a bit higher before making a smaller and needed sub-way retracement without going in to Hell again.
So I want to talk a bit about the next challenges we are going to face shortly. First of all we have to complete our Elliot Wave 5 before we can go into an ABC-correction. The way we succeed is to go up with help from a bull flag, and all the way up to the yellow dot. As you can see, we got rejected hard last time we were at 11,8k (the other yellow dot), and was trying to get out from the downtrend channel. Look at the massive volume 2 times as big as the MA20 Volume. And the follow up was even higher.
But the reason why we probably will succeed this time is, because of the big inverse HS pattern we created. Admitted it is not THE BEST Head and Shoulder, since the Head isn't round but sharp. But D4 believes in spite of that, we will go through due to that we now are in an uptrend and there will be more faith in the market.
The challenge we will face is the needed ABC-correction. Elliot Wave Theory suggest, that we need at least a Fibonacchi Retracement more than 50 % of the whole Elliot Wave Cycle. And preferably more like 61,8 %. And that is a problem because of 2 things. If we assume we end our EW5 at 12,7k, and retrace just 50 %, we will not only go under 10k, but we will also go back in the downtrend channel. We might not go in the downtrend channel if we can make the ABC-correction last until March the 12th.
So lets hope for one of the following things:
1. That we will mange to go even higher than 12,7k. There is definitely room for more, even though it will be hard cause we have to go through a zone of confluence resistance.
2. That we in someway can postpone the whole ABC-correction of the EW Cycle to later, so we only will retrace to Fib Retracement levels between 23,6 % - 38,2 %. That is definitely an opportunity due to the new uptrend and trust in the market.
It will be some super exciting days!
D4 loves you <3
PS. Remember to give a LIKE and FOLLOW. D4 will reveal everything on next Wednesday. And maybe you will be one of the lucky ones! :)
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Good news, bulls! We are here taking a look at the 2h BTCUSD chart. As you can see the bears are trying their best to keep us down in the channel, but the bulls are strong and it seems like there is a reversal on its way.
Please pay attention to the last time we tried to go through the descending channel at the yellow dot. There bears were much stronger than now with massive volume behind.
I can see that not everybody is agreeing where the resistance line is. And it seems like mine has been moved cause I had so many indicators. So we might already be above the resistance line now.
Go, Bulls!
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BREAKOUT alert. Bitcoin is at this very moment trying to break out from it descending wedge.
The bears have slowly but steady lost their momentum. Take a look at the volume bars. The last red is half of the MA20 Volume which indicates a reversal. And that is what we are seeing now. The bulls are trying to break out. This is a perfect opportunity to go into a steep uptrend. But we need VOLUME to get high enough.
The MACD and RSI also allow us to take over control. Come on, bulls!
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As predicted, we broke out and up from the wedge. The bulls have a great opportunity to continue the pressure. The 1st subwave in the 5th Elliot Wave has retraced EXACTLY 50 %, so this is the perfect moment to go into a steep uptrend making an EW3 Subwave.
We wants more volume though!
D4 loves you <3
Please give a LIKE if you like the updates :)
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WOHOOOO, Fxxxxx Bitcoin!! It's now or never. We are back in an uptrend. We are out the descending channel.
We have made a great retracement, we are on the 3rd Elliot SubWave which is often the longest. The RSI is great. The MACD is telling us, that the bulls will take over!!!
COME OOOON!!!
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THE UPDATE IS HERE. ENJOY MY FRIENDS!
Remember to give a like and follow. I really appreciate it!
@FxDollarZz, You're comparing it to the first 2 times, but this time (3rd circle) it didn't go down but back up on the line.
We will need a serious signal if we are to sell.
D4rkEnergY
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If people seriously FUD out now, they simply don't know what they are doing! What more do we want? Everything is bullish at the moment. We only need a bit more volume!
Viktor86
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@D4rkEnergY, Good Point! I agree on the "we want to see more volume" though. I guess we will see in the late evening when the Asians step in.
D4rkEnergY
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@D4rkEnergY, If the bulls don't manage to win this battle it's like missing 3 penalty kicks in a row in football!
maxg98
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It's never wise to choose the more unlikely opportunity than the more likely... BTC/USD is re-testing it's down-trend channel resistance level right now and is traded inbetween the famous 50/20 EMA resistance which is used by most big boys and banks.
I respect everything what is getting published on TradingView but too many people are suffering from the human emotion to let them see what they want to see.
maxg98
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@maxg98, For the rookie: It will more likely fall (short) again.
siwe7
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@maxg98, the problem is, currently we do not have a confirmation for neither an upwards nor a downwards move. i am expecting another drop, too, because we would have breached the channel already with high volume now. but it could theoretically also happen, that we have a low volume sidewards trend now...
maxg98
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@siwe7, funny comment :D I'm sorry but i think you don't know what you talk about. You never have a confirmation in trading. The markets are in a way random. You can only try to judge how the majority trades the market. A simple channel breach including high volume isn't significant at all. Price action and the whole market behaviour matters. Theoretically, theoretically.. it could go in any direction. We talk about high potential reversal points in trading.
All these TradingView and Forum self-appointed "traders" which are not profitable and comment everywhere their opinion make me sick...
maxg98
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@siwe7, always look for the most likely opportunity. Everything else doesen't matter and it doesen't make sense to waste your mind on it. If the market shows clear reversal signs on historical turning points than go for it. If it doesen't than skip it.