Cinnamon_Club

The re-entry price was reached, and an entry confirmation was created on a lower timeframe, which was a double top with a neckline at 114,400. Right now, price is pulling back to retest that neckline, which will be our new entry price... but looking at the bigger picture, it doesn’t seem like a great idea to enter a Bitcoin short, since we have both bullish and bearish factors to consider: Pros: +Completed Elliott Wave count (5 waves + sub-waves finished) +Strong weekly and daily divergences +Daily double top (neckline at 112,000) +Stops hunted at 118,000 +Possible bearish candle formation on the weekly timeframe (if this week closes below 113,500) +BTC has gone over half a year without correcting more than 20% Cons: – Inverse H&S projection still not reached (neckline at 109,300 projecting up to 144,000) – Possible inverse H&S forming, neckline at 117,220 – Fundamentals like pending alt-season and rate cuts this year pending. – Overall bullish trend In my opinion, the bearish case has more weight right now, but the probabilities are still not strong enough to risk too much capital on this trade, but the probabilities are more than 70%, so ill be in. Prayer to God: Teach me to feel that You are the power behind all wealth and the true value of all things. By finding You first, I will find everything else in You.

My trading strategy has been evolving over time after running several backtesting sessions and going through trial and error in real time. Currently, it consists of looking for trades with at least 3 confirmations and an early stop loss. In this case, we can see that BTC shows the following confirmations for a short position: -Completed Elliott Wave count, with 5 waves and 5 sub-waves finished. -Rising wedge (bearish signal). -Double top on the 1D chart. -RSI divergence in 1D and 1W. Additionally, it also meets the condition of having a nearby stop loss at the 1D candle close at 112,550 (meaning that if there’s a daily candle close above 112,550, we exit the trade with a small loss). These types of trades are the ones I’ve been executing for some time now, and they’ve given me a very good hit rate (with only a few losses).The trade was closed at the daily cande close above green resistance (early stop loss activated ). This upward move also activate a triangle which projection is up to 118.500 aprox. This projection also hunt stops which are above 117.500, so my next plan is to wait the price to reach that range price (117.500-118.500) and make a low time frame short entry in order to make another short entry in higher prices.

An inverse H&S has been formed and retested in the neckline, so I spect a good upside momentum these days (at least until H&S projection reaches its objective), which is in line with market sentiment right now. But remember, we can't say we are bullish until we make a clear break of 70k USD.

This is a very bullish combination: H&S inverse confirmed at the time an important resistance is broken. It seems that we are going to be bullish on bitcoin at least until we reach the H&S projection (red line).But don't be fooled. Bitcoin continues to have a bearish behavior (in medium timeframe) at least until the 70k barrier is clearly surpassed.

FTM (fantom) Right now (blue) vs FTM aug/2021 vs FTM nov/2020Would this behavior repeat again?Looks like always when this coin reaches a 78,6 fibo correction, after that, explodes strongly.

To be honest, Bitcoin seems very negative both in the graphs against the dollar and against gold, but nevertheless against the SP500 it seems very positive as long as it does not break the two supports (black line and red line) and manages to overcome the orange resistance .

Right now no one dares to go long on altcoins even though there are excellent entry signs... this is the moment when good investors enter the market.Likewise, when the market is very bullish and there are signs that a decline is coming, retail does not dare to sell and good traders sell.Exit (stop loss) the trade only if 4H candle closes below low part of the channel.

(6/1) Means, in this profile for the past 7 trades, 6 were successful, and 1 were wrong.In this case there are two important supports (black lines) and the 1,618 fibonacci extension was acomplished.

In order to know what the direction of the crypto market will be, we must go to Bitcoin first, but if it does not give us a clear analysis, we go to Ethereum.In this case, excellent Elliot wave behavior can be seen. Wave 3 arrived just at the point it had to reach, and so did wave 4.Right now wave 5 is developing, which tells us that it will reach the previous highs (approximately 4800 USD)Do not expect this route to be fast and strong, since we are talking about wave 5, which, unlike wave 3, usually occurs without force.

looks buy to buy in spot right nowBesides the rejection from purple support, it has been rejected from 61.8% fibbo, what tells me that correction is over and now we are goin to wave 3 (very bullish).projection of wave 3 is around 5 USD (x4)