WHAT IS HAPPENING TO BITCOIN? 📉 In bull markets, narratives > ground realities.
US trading session faces worst returns, but ETF flows are net negative while CME OI skyrockets. Coinbase FUD triggers panic selling, but smart bids on spot & perps shorting.
Current Scenario: Reclaim $69,700 for uptrend continuation, rejection hints at more consolidation.
Moral: You don't need macro knowledge or complex tools to profit. Buy the 4H 200EMA retest, up $10k since. Simplifying trading for newbies!
Small FUDs, big gains ahead. Tighten your seat belts! 🚀
📉 Weekend stagnation for $BTC , but now aligning with the preferred yellow scenario, eyeing $69-70k range in wave c of b. Closely tracking for potential ending diagonal completion. Caution: below $63,850 may shift to lower support; breach $62,318 confirms potential wave b top.
$AVAX : The price is currently in a consolidation phase and the scenario as shown in orange is going to be tested first. It is possible that the price is currently moving in $80 The upper support area is defined between $32.76 and $46.92. A break below $50 would confirm the start to move next support $38.04
The price could be in the process of wave b, which remains a valid assumption as long as the $0.91 support level remains intact. Within wave b, it's feasible that waves A and B have concluded, although the micro structure could evolve. A break above $1.017 would provide additional confirmation that wave c upward has initiated. Resistance levels are situated between $1.087 and $1.20. Today seems calm and relaxing, although I'm aware many prefer more action . :) $MATIC
$FET Looking at the shorter time frame I prefer the white scenario now. The reason are the shallow pullbacks we have seen so I have spent some time to develop a more probable scenario. The support area has shifted a little, and $1.28 is now the main support level that ideally holds for upside trend continuation. The yellow scenario is the previous scenario, which is valid but not so reliable. #fet.ai #Write2Earn
Elliott Wave traders recognize the third wave as one of the most potent and profitable phases within the Elliott Wave sequence. However, capitalizing on this wave requires precision, understanding, the right mindset and discipline. Here’s the first of two lessons I plan to post on how to navigate trading third waves, ensuring you maximize your potential while minimizing risks. Entering a Running Third Wave: If a strong trend in a third wave is already unfolding, incorporating moving averages can be an effective approach during the third wave. This method demands significant screen time and attention but offers the advantage of tightening risk, allowing for more aggressive trading. The idea is to use two moving averages and when they cross you can either enter or exit. Remember, this tactic is particularly effective in third waves due to their strong and directional nature. When You Feel Like You've Missed the Opportunity: It’s common to feel like you’ve missed out when a third wave is already underway. However, there's always a possible entry point. The key is to start small, especially when the price is far away from support. Consider a cautious entry if the rally continues, and be ready to add positions near support zones. Engage in diligent "trader math" — assess each trade’s risk versus its potential reward. Aim for a risk-reward ratio of 3:1, or at the very least, 2:1. This discipline ensures profitability over time, even with a fair share of stop-outs. My Personal Trading Ethos: I try to avoid buying on breakouts, and prefer instead to buy on pullbacks. While breakout trading works for some, it demands a different mathematical approach. My trading style is grounded in finding value rather than chasing the market, focusing on pullback opportunities which align with a calculated risk-reward strategy. The Importance of Knowing Your Stop Loss: Position sizing is crucial for maintaining psychological comfort with your trades. Over-leveraging can cloud judgment and lead to decision paralysis when a stop loss needs to be executed. Remember, even the most seasoned traders encounter losses; what differentiates them is their risk management and the ability to cut losses promptly without jeopardizing their capital.
The price is currently moving closer to the support zone. I added some additional fibonacci extension levels, which could offer additional support. Especially the range between $3,495 and $3,315 is worth observing, and then there is some confluence around $3,200, which is the ideal target for a fourth wave. $ETH
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