BTCEUR
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Stop for #BTCEUR long now up to 52k #EUR
Reminder: daily $BTC trend is still down (BTCEUR 24Q2 review) and rally off the July low has been corrective #Elliottwave on the hourly.
Reminder: daily $BTC trend is still down (BTCEUR 24Q2 review) and rally off the July low has been corrective #Elliottwave on the hourly.
LIVEEuroChartCreator
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#Elliottwave doesn't look complete to the upside for #BTCEUR but stop for aggressive long should now be trailing up to 51k #EUR or more. Still eyeing 56k-57k for potential short $BTC
Stop for #BTCEUR long now up to 56k #EUR
Adding the green channel as guide since $BTC broke out above the yellow one. Lower green crosses upper yellow around 57k, above that I see 62k+ next. Otherwise the azure #Elliottwave labels make more sense than the red ones, implies we topped at 60690, aggressive short can try against that swing high.
Adding the green channel as guide since $BTC broke out above the yellow one. Lower green crosses upper yellow around 57k, above that I see 62k+ next. Otherwise the azure #Elliottwave labels make more sense than the red ones, implies we topped at 60690, aggressive short can try against that swing high.
LIVEEuroChartCreator
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Stop for #BTCEUR long now up to 52k #EUR
Reminder: daily $BTC trend is still down (BTCEUR 24Q2 review) and rally off the July low has been corrective #Elliottwave on the hourly.
Reminder: daily $BTC trend is still down (BTCEUR 24Q2 review) and rally off the July low has been corrective #Elliottwave on the hourly.
#BTCEUR Aggressive short stop should now be downed to 59k #EUR or lower. Very micro I can see a 4th #Elliottwave forming so expecting at least one more low. Still no setup for aggressive long $BTC , though eyeing 56k for potential bottom at least on the hourly.
LIVEEuroChartCreator
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#BTCEUR dips into my sub 60k #EUR target zone from last week so I'm starting to look for bottoming structure for $BTC : on the hourly I think we will still get a lower low under 59311 but positive divergence has been building up, though no setup for aggressive long at the moment. Aggressive short can move stop from 62k down to 61500.
For the #Elliottwave nerds, the overall structure of the decline from the 66k top is clearly corrective so don't bother about the subwaves, just remember that the last leg of a diagonal can be sharp, as well as the reversal that follows.
For the #Elliottwave nerds, the overall structure of the decline from the 66k top is clearly corrective so don't bother about the subwaves, just remember that the last leg of a diagonal can be sharp, as well as the reversal that follows.
#BTCEUR still within multi-weeks range of 62k-65k, but increasingly likely to revisit 60k #EUR
Just a reminder though that even with a drop under 50k, $BTC still have a very bullish structure in #Elliottwave term.
Just a reminder though that even with a drop under 50k, $BTC still have a very bullish structure in #Elliottwave term.
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#BTCEUR on track to the sub 60k #EUR level from last week, we should see a bounce soon at least on the hourly.
Not sure $BTC will get enough support there on the daily though as the retracement of the supposed 3rd in #Elliottwave term is getting deep. The old "long waring" at 62k can now be used as an early signal if you were aggressive short.
Not sure $BTC will get enough support there on the daily though as the retracement of the supposed 3rd in #Elliottwave term is getting deep. The old "long waring" at 62k can now be used as an early signal if you were aggressive short.
#BTCEUR hourly symmetrical triangle
$BTC has been trading in a very tight range lately, one can observe a symmetrical triangle on the hourly chart of #BTCEUR
For a very short term trade for the next few days, one can use 65k #EUR as stop for short and 62k as stop for long. Since the daily trend is up, breakout is biased to the upside. Additionally, the purple line is an extra signal to the downside.
The same pattern can be observed on the BTCAEUR chart. Unfortunately AEUR trading pairs are very tiny traded, so while there is zero trading fee, the slippage makes them very unreliable to trade on the shorter timeframes,
For a very short term trade for the next few days, one can use 65k #EUR as stop for short and 62k as stop for long. Since the daily trend is up, breakout is biased to the upside. Additionally, the purple line is an extra signal to the downside.
The same pattern can be observed on the BTCAEUR chart. Unfortunately AEUR trading pairs are very tiny traded, so while there is zero trading fee, the slippage makes them very unreliable to trade on the shorter timeframes,
#BTCEUR falls out of the green channel but action is a rather clean #Elliottwave ABC, expect topping probably in the lower half of the channel ~65k #EUR as long as the last low holds.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
LIVEEuroChartCreator
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60k #EUR is now a reasonable stop for aggressive long as #BTCEUR is completing a 5th #Elliottwave of some degree.
We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH.
Expect more resistance for $BTC
We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH.
Expect more resistance for $BTC
Hope you enjoyed the chop while #BTCEUR was completing a larger degree 5th #Elliottwave labeled in orange with a 64k #EUR top as of writing.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
LIVEEuroChartCreator
--
#BTCEUR falls out of the green channel but action is a rather clean #Elliottwave ABC, expect topping probably in the lower half of the channel ~65k #EUR as long as the last low holds.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
#BTCEUR July'24 review: BTC chose the orange path, briefly peeked below 58k #EUR and is currently defending 0.382 retracement of the July rally. If this mini pullback on the 15min chart holds 59.5k to make a higher high, preferably above 61k we will have a clean impulsive #Elliottwave to work with.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
LIVEEuroChartCreator
--
Hope you enjoyed the chop while #BTCEUR was completing a larger degree 5th #Elliottwave labeled in orange with a 64k #EUR top as of writing.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
#BTCEUR getting close to 54k #EUR & potential #Elliottwave 2 of V support region, layer in long positions between 55k-52k with 51k stop gives defined risk of max. 2.5k or less than 5%, conservative upside target roughly 80k-90k.
LIVEEuroChartCreator
--
#BTCEUR July'24 review: BTC chose the orange path, briefly peeked below 58k #EUR and is currently defending 0.382 retracement of the July rally. If this mini pullback on the 15min chart holds 59.5k to make a higher high, preferably above 61k we will have a clean impulsive #Elliottwave to work with.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
BTCEUR keeps consolidating
Unlike BNB, #BTCEUR is still trading in a very tight range, with overlapping structure in every swing. The highlighted levels in prior post remain in place.
Until decisive breakout, both bull and bear should be cautioned for more whipsaw.
Longterm #BTC bull should not be shaken out by a potential revisit of the 50k #EUR level. 80k-90k is a conservative upside target
Until decisive breakout, both bull and bear should be cautioned for more whipsaw.
Longterm #BTC bull should not be shaken out by a potential revisit of the 50k #EUR level. 80k-90k is a conservative upside target
BTCEUR trailing down the short stop
Following on from prior post, #BTCEUR broke out to the downside, breached the long stop and poked the purple line, but did not exceed the previous swing low (red dots) and is now back up retesting the breakout (yellow dots).
Judging by volume profile, bears currently still have upper hand and can trailing the stop down to 64k #EUR or even lower (green dashes). Bulls on the other hand can reattempt long with prior low around 61k as stop, but that is a low quality setup as they have to fight the cluster around 62k-63k, along the breakout line.
Judging by volume profile, bears currently still have upper hand and can trailing the stop down to 64k #EUR or even lower (green dashes). Bulls on the other hand can reattempt long with prior low around 61k as stop, but that is a low quality setup as they have to fight the cluster around 62k-63k, along the breakout line.
60k #EUR is now a reasonable stop for aggressive long as #BTCEUR is completing a 5th #Elliottwave of some degree.
We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH.
Expect more resistance for $BTC
We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH.
Expect more resistance for $BTC
LIVEEuroChartCreator
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Stop for #BTCEUR long now up to 58k #EUR as 4th #Elliottwave can be considered complete. First upside cluster around 63k, don't chase with full weight if you just now fomo in. 57k and 53k are first support levels if stop breached. $BTC
BTCEUR 24Q2 review
Filtering out intraday noises, #BTCEUR monthly has been in a very tight range since BTC struck a ATH in March.
Looking closer at the weekly, the "drop" from the March top has been corrective and looks more like a consolidation/bull flag than a crash. Again from last week: even a drop into 45k #EUR is very bullish, a typical target range of 4th #Elliottwave is the 0.236-0.382 retracement of the 3rd, in this case roughly 52k-45k. Warning for long term holders: under 34k is not good!
Getting to the daily, typical targets for the ABC pattern are 1.0/1.236/1.618 extension of A, here 52k-49k-45k. Where did I hear that range before?
While I much prefer a lower low to be seen, to be more confident about the pattern but also to be able to buy more, we're technically close enough to declare the first target of 52k has been reached. It would be a pity if the correction ends here.
Attention check: without going back to the monthly chart above, did you notice the drop since July?
Now sentiment check: did you panic for the drop of the last few days? Should you?
#BTCanalysis
Looking closer at the weekly, the "drop" from the March top has been corrective and looks more like a consolidation/bull flag than a crash. Again from last week: even a drop into 45k #EUR is very bullish, a typical target range of 4th #Elliottwave is the 0.236-0.382 retracement of the 3rd, in this case roughly 52k-45k. Warning for long term holders: under 34k is not good!
Getting to the daily, typical targets for the ABC pattern are 1.0/1.236/1.618 extension of A, here 52k-49k-45k. Where did I hear that range before?
While I much prefer a lower low to be seen, to be more confident about the pattern but also to be able to buy more, we're technically close enough to declare the first target of 52k has been reached. It would be a pity if the correction ends here.
Attention check: without going back to the monthly chart above, did you notice the drop since July?
Now sentiment check: did you panic for the drop of the last few days? Should you?
#BTCanalysis
#BTCEUR now has a decent looking #Elliottwave 5up, watching 58k #EUR for a potential top then holding 51k or 46k for the bullish interpretations. Bear on the other hand can try to bet against the 57.5k top or wait for 58k to strike against 61.5k.
$BTC weekly keeps looking bullish as long-term review shows.
$BTC weekly keeps looking bullish as long-term review shows.
LIVEEuroChartCreator
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While it certainly feels like pickpocketed as stop got breach but recovered quickly, trading plan need to be followed with discipline. Bigger picture though 45k #EUR bottom for #BTCEUR has been there for months and the bullish #Elliottwave pattern is now rather full on the weekly. Notwithstanding a minor lower low, the weekly close of this week will need to be treated with respect as a close below 50 weeks SMA ~46k will hurt the longterm bullish trend. Closing above 55k is a good signal of the 5th wave starting.
#BTCEUR 15min chart looking up to 55k #EUR then we will see how pullback behaves, bulls want to see 50k holds to confirm "bottom is in"; aggressive bears could try to short against 58k stop. Counting #Elliottwave at minutes chart is not always productive, discipline to stop out is a must. In case you're losing faith of $BTC due to the "crash" of last few days, check the long term review quoted below.
LIVEEuroChartCreator
--
BTCEUR 24Q2 review
Filtering out intraday noises, #BTCEUR monthly has been in a very tight range since BTC struck a ATH in March.
Looking closer at the weekly, the "drop" from the March top has been corrective and looks more like a consolidation/bull flag than a crash. Again from last week: even a drop into 45k #EUR is very bullish, a typical target range of 4th #Elliottwave is the 0.236-0.382 retracement of the 3rd, in this case roughly 52k-45k. Warning for long term holders: under 34k is not good!
Getting to the daily, typical targets for the ABC pattern are 1.0/1.236/1.618 extension of A, here 52k-49k-45k. Where did I hear that range before?
While I much prefer a lower low to be seen, to be more confident about the pattern but also to be able to buy more, we're technically close enough to declare the first target of 52k has been reached. It would be a pity if the correction ends here.
Attention check: without going back to the monthly chart above, did you notice the drop since July?
Now sentiment check: did you panic for the drop of the last few days? Should you?
#BTCanalysis
Looking closer at the weekly, the "drop" from the March top has been corrective and looks more like a consolidation/bull flag than a crash. Again from last week: even a drop into 45k #EUR is very bullish, a typical target range of 4th #Elliottwave is the 0.236-0.382 retracement of the 3rd, in this case roughly 52k-45k. Warning for long term holders: under 34k is not good!
Getting to the daily, typical targets for the ABC pattern are 1.0/1.236/1.618 extension of A, here 52k-49k-45k. Where did I hear that range before?
While I much prefer a lower low to be seen, to be more confident about the pattern but also to be able to buy more, we're technically close enough to declare the first target of 52k has been reached. It would be a pity if the correction ends here.
Attention check: without going back to the monthly chart above, did you notice the drop since July?
Now sentiment check: did you panic for the drop of the last few days? Should you?
#BTCanalysis
The sideways consolidation on the #BTCEUR weekly is very bullish in #Elliottwave term, even a drop into 45k #EUR would not invalidate the case that $BTC is in a longterm bull market, but that would be more than 25% down from current price, so position size is very important.
While it certainly feels like pickpocketed as stop got breach but recovered quickly, trading plan need to be followed with discipline. Bigger picture though 45k #EUR bottom for #BTCEUR has been there for months and the bullish #Elliottwave pattern is now rather full on the weekly. Notwithstanding a minor lower low, the weekly close of this week will need to be treated with respect as a close below 50 weeks SMA ~46k will hurt the longterm bullish trend. Closing above 55k is a good signal of the 5th wave starting.
LIVEEuroChartCreator
--
#BTCEUR getting close to 54k #EUR & potential #Elliottwave 2 of V support region, layer in long positions between 55k-52k with 51k stop gives defined risk of max. 2.5k or less than 5%, conservative upside target roughly 80k-90k.