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#Post#: 167--------------------------------------------------
TA for 06Sep2019 on BTC/USD
By: BlockSociety_COO Date: September 6, 2019, 8:35 pm
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starting with the 4hr time scale, you can see the triangle
unfolding. In all triangles, each leg is 3 waves. The current
rally that brought us up to 10,900 was only one wave within the
three wave correction. this drastic drop we're having right now
is likely the b wave within that rally. Further, triangles
typically have their legs related to eachother by the 61.8%
retracement, so this line of thinking still tracks.
if you look at the 1hr time scale, youu can see that we had a
clear 5 wave impulse from the bottom at 9400 or so. wave 4 of
that impulse was also a small time frame triangle. EW theory
tells us that the thrust after a triangle is a terminal move
which typical results in a swift correction. and the measure of
the thrust should be equal to the opening of the triangle, if
not related by fibonacci ratio (usually a 1.382 in the case of a
triangular extension). if you use a drawing tool, you'll see
that the wave 5 thrust was exactly the same length as the
opening of the triangle and it was immediately followed by a
swift correction.
We should now be looking for a 3 wave decline which ultimately
should end around the 10k mark (61.8% retracement) prior to
moving higher toward $11,300.
Regardless of what happens here, do you have a plan?
#Post#: 168--------------------------------------------------
Re: TA for 06Sep2019 on BTC/USD
By: Ziadjbt78 Date: September 6, 2019, 8:53 pm
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[quote author=BlockSociety_COO link=topic=143.msg167#msg167
date=1567820111]
starting with the 4hr time scale, you can see the triangle
unfolding. In all triangles, each leg is 3 waves. The current
rally that brought us up to 10,900 was only one wave within the
three wave correction. this drastic drop we're having right now
is likely the b wave within that rally. Further, triangles
typically have their legs related to eachother by the 61.8%
retracement, so this line of thinking still tracks.
if you look at the 1hr time scale, youu can see that we had a
clear 5 wave impulse from the bottom at 9400 or so. wave 4 of
that impulse was also a small time frame triangle. EW theory
tells us that the thrust after a triangle is a terminal move
which typical results in a swift correction. and the measure of
the thrust should be equal to the opening of the triangle, if
not related by fibonacci ratio (usually a 1.382 in the case of a
triangular extension). if you use a drawing tool, you'll see
that the wave 5 thrust was exactly the same length as the
opening of the triangle and it was immediately followed by a
swift correction.
We should now be looking for a 3 wave decline which ultimately
should end around the 10k mark (61.8% retracement) prior to
moving higher toward $11,300.
Regardless of what happens here, do you have a plan?
[/quote]
Very interesting BTC MA / TA👌 thanks for the awesome
insights and adding value with your thorough analysis. Keep up a
job greatly done!
Cheers
Admin
#Post#: 276--------------------------------------------------
Re: TA for 06Sep2019 on BTC/USD
By: VErbadoo Date: September 11, 2019, 4:44 am
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initially, roughly this movement was what was within my
expectations, but we hadn't made that leg up yet reaching for
11k so I don't think we are going to be reaching there at all
anymore until we starting touching the lower supports on btc
HTML https://www.tradingview.com/x/fMDjOaX0/
I'm seeing price action leave the loxp on the 1hr which means
really bad things usually.
Price action has been unable to breach through the 233 ma on the
15min, and really I should have suspected things to go ary was
when we starting moving underneath the 1hr 233ma.
HTML https://www.tradingview.com/x/8YURabpt/
The 1day looks horrible too, cci primed for a move downward.
HTML https://www.tradingview.com/x/fV0aZGL2/
#Post#: 282--------------------------------------------------
Re: TA for 06Sep2019 on BTC/USD
By: Ziadjbt78 Date: September 11, 2019, 11:01 am
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Love what you did with your signature ;)
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