Bitshares (BTS) is now painting a very nice path on its new market cycle, attempting to paint a much larger carbon copy of its younger fractal in the previous emotional cycle.
My goal is practising the ability to use the Laws of Elliot wave theory and chart pattern recognition in harmony together as a powerful algorithm to help predict the future price pathway.
We are currently experiencing a small rest, Deserved after this first impulse to new ATH's. The correction is taking the form of a triangle and is working through an ABCDE pattern and seems to be nearing completion.
Once complete we could see continuation towards higher targets.
The elliot waves painted in blue are difficult to project precision hits, More a guideline to the possible price pathway. Try not to trade these subwaves, Patience is key wait for the 5th wave profit point and sell into greed. Elliot waves are very useful in this respect as attempting to plot these subwaves give's you an idea of the next probable pathway and counting them during the move helps alleviate fear and panic.
TP= Take Profit For this Market cycle I will be looking to take profit at these dollar targets, These Targets are Based on the Fibonacci extensions an Elliot wave theory laws.
TP1= $1.90-$2.00
Take 50% profit off the table here, If you have been following this trade from my first recommendation of $0.5 cents we will be up almost 40X our initial investment. Always important to take such a large gain and walk away humbly with the profits, never stay around to be the last seller.
TP2= $3-.$3.50
If the 5th wave transpires like it did in the last market cycle its not out of the question for BTS to really moon right up here, Take the remainder of your profits here sell the greed and prepare to pick up a lot more shares at the bottom for the next market cycle.
To the long term investors in this project Bitshares has so many unique features going on, One great one is allowing you to sell the BTS coin for dollar pegged asset's on the exchange itself which include BITUSD, BITEURO and BITCNY. Under estimated is this novelty in a young crypto atmosphere where the only options presented currently are park your funds in the Volatile BTC or controversial Tether currency. Anyway Time will tell with the long term projection, for now focus on selling high and protecting your profit to buy the bottom of the next ABC correction.
Remember my padawans The force is everywhere, Under your feet and in the air around you, it is infinite in this galaxy, when you open your mind to the fact you are this very force living and breathing in harmony with it, then you will know peace. Peace deeper inside your soul then any material or monetary possession can give you. Do not let the lust for crypto profits corrupt your mind, you are a beautiful human being and you are perfect just the way you where born to be, playing under the sun right here on this amazing blue and green home floating in the stars.
Namaste, :)
Bình luận
⋅
Note; When reviewing my charts pay no attention to the monthly time frame along the bottom, This elliot wave analysis is dinfing the probable outcome of price pathway. Not a prediction of time itself, be wary of the traders who promises you something in a certain timeframe. Patience is key in this game, Wait and you will win.
@Jedi_Trader would it be possible for you to do a ZRX TA? I think you're very good at TA. Thank you very much for your time. Is there a wallet address i can donate to?
Bullion_Money
⋅
update with sub waves pl
A369_TRADER
⋅
Precision Hit! I think that's the low in for BTS now, Expecting continuation to Dollar are above now.
@Bullion_Money, big brother BTC forever shadowing the market! Testing the top of the 1 wave currently. Super cheap right now to be picking up some more :)
Bullion_Money
⋅
@Jedi_Trader, so every Up wave (1,3,5) has a subwave and every corrective wave (2,4)has a ABC (Always abc or abcd and sometimes e)?
A369_TRADER
⋅
@Bullion_Money, Yes you are correct. Corrections can play out in over 36 different wave formations! If your interested I suggest " principles of Elliot wave analysis" book to learn the start learning the art :)
A369_TRADER
⋅
This correction is wave (4) of the higher degree trend. For those of you interested in Elliot wave theory, this small correction took the form of an Irregular expanded flat, 3,3,5. Wave count here, Don't panic sell this dip, we are nearing the terminal end of wave 5 of 5 in this correction so now is the time to buy. White dotted lines are my Ladder buy in zones, first one already hit. What comes after a correction? resume the uptrend! $1 and $2 incoming. Hold tight :)
dalerenniecrypto
⋅
@Jedi_Trader, Thank you for your EW analysis. I am learning EW's. I love the tech and strategy behind BTS. It is a technology that really could change the game on trading (decentralised) and many elements of banking/ finance. My question: Would you recommend buying back in at the end of terminal end of the corrections of TP1 and TP2 zones (around 75c - 85c)? Love and light.