Welcome to our first video analysis here on tradingview. I am very happy that I can test the new feature and share our views on markets faster and easier in a video format.
In this video analysis I will take a look into BTCUSD and also some other BTC-cross pairs with interesting patterns.
I you will like the video please leave me a feedback into a commentary below so that I know if you want more of these in the future!
I hope you will enjoy it!
Good weekend to all of you!
Grega
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Bitcoin is trading lower as we expected. Currently we see it in the final stages of wave 3 of (C), which means that we may see some pullback in wave 4 back to around 38,2% Fibonacci retracement and previous wave (iv) resistance, so correction of wave 4 may stop between 11300-11800 levels, from where we expect new drop into wave 5 of (C) towards 8000 level or maybe even lower.
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Big recovery on BTC, but 4th waves are the most complex, so we strongly suggest to be very careful here with long positions. Currently BTC trading around our projected resistance zone with three waves up, so it still could be wave 4 correction. But if goes higher above 13400 invalidation level, then we may adjust the view.
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welcome back everyone. A lot of you asked for an update so here it is:
we have seen move up towards 13 k recently, but noticed that recovery is clearly in three waves, also retraced by a recent break beneath the channel support. This looks like a temporary bounced, therefore, it would be too soon to turn bullish. I still think new lows will be seen.
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Greg its one thing to predict but it certainly is almost spiritual to hit the play button and watch the price action hug your chart like this.
NJ81
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super, hvala!
ltummers
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Thanks for the great forecast, i am a great fan of your website !
Just one question you say there might be other trading opportunities in other coins while btc corrects.
If BTC will decline below 10k ALTS will also be dragged down, like every btc crash did before.
So is it not better to step in alts as soon the btc reached his low levels ands corrects?
thomashvu
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@ltummers, That's correct. I did that during the last few BTC corrections. I would also have some BTC in my holding though to diversify my portfolio.
ew-forecast
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@ltummers, Thank you. As said in previous post. There's no tick by tick correlations. You are right about positive decline with BTC and ALTs, but maybe BTC will decline morethan ALTs or maybe we will see a rally on ALTs before BTC drops, just like it's happening right now on ETHUSD and ETHBTC, because from our experience in most cases ALTs moving, while BTC is sideways and this may take some time. And there will be result on XXX/BTC crosses and opportunities we have talked about. From EW perspective and our experiance from fx market, we can say that the most important is to focus on structures and patterns, because you can't control and put together all correlations.
fisicomin
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Amazing view & explain - thx bro - go on!
draconnn
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Absolutely great, nice to see it explain on a video. Nice work! Hope to see more.
novohispano
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Really cool video! I subscribed to your newsletter too. I like the fact that you not only spot the EW but also the confirmation levels for bull or bear patterns. Keep posting :)
elshanti
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excellent video manh thanks.. I highly suggest you to list the idea video under BTCUSD pair instead of Dash/Bitcoin .. would have thousands of views so far..
ew-forecast
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@elshanti, thx for comment. I wrote down BTCUSD, as you can see below the video as well, but not sure why DASDHBTC was picked as primary?