BTC Bitcoin Feb 16 Evening Update - Level 1 and Level 2 Technical Analysis
General tone:
If we break $10,500 there's a strong chance to target $10,750 to $11,200
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Next Week) - Bullish
Short Term Bias (Today+Tomorrow) - Bullish, then bearish after targets hit.
Long Term Target Prediction - Primary Wave 3, $35,000+ by 2019
Long Term Target Prediction - Primary Wave 5, $50,000+ by 2020
Level 2 reading is my favorite method of analysis combined with price action. Level 2 let's us analyze in real time momentum changes by monitoring the bids, asks, and order book. Indicators such as MACD and moving averages are all lagging indicators, which can't provide real time analysis. I use level 2 to guage on the fly momentum changes, to see who's doing what in the game and the general sentiment at that specific time. As a trader who shorts 85% of the time, It's crutical for me to monitor this.
My bias stands and so does my chart.
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Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Automatic Stop Sell/Buy Executions
Lesson 16 - Advanced 55 EMA Strategy with Time Frames and MACD Part 2
Lesson 17 - 6 Hours Live Trade Scalping. Growing $2,000 Account into $3,500
Lesson 18 - Bitcoin BTC Feb 6 - BTC Update - Summary of ABCDE with live play.
Lesson 19 - Elliot Wave Theory, Fibonnaci Retracement & Extension (Combined with Feb 11 BTC TA)
Lesson 20 - Advanced Elliot Wave WXY With Feb 11 Technical Analysis
Lesson 21 - Using Elliot Wave, Fibonacci, And Extensions To Obtain Targets (Combined witFeb 11 BTC TA)
Lesson 22 - Risk Management, Channels, Fib Retracement, Fib Extension. Summarizing Feb 11 BTC
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BTC: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
NEO: AaZu8fiiMW3vnizUaSkRj6JoobswkeCKPQ
EOS: 0x2538b728f9682fc1dc2e7db8129730f661753850
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
XRP Address: rLW9gnQo7BQhU6igk5keqYnH3TVrCxGRzm / Wallet: 4110054236
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.
If I've helped you, consider buying Luna and myself a beer
BTC: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
NEO: AaZu8fiiMW3vnizUaSkRj6JoobswkeCKPQ
EOS: 0x2538b728f9682fc1dc2e7db8129730f661753850
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
XRP Address: rLW9gnQo7BQhU6igk5keqYnH3TVrCxGRzm / Wallet: 4110054236
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.
Excellent post. Love the way you put in your short/mid/long term thoughts on bullish pattern. I wish I could upvote multiple times. That is why I upvote my comment and resteemed. Hope I help you gain more attention so more can benefit from your efforts. :)
thank you for the support
Wow, lot of quality information, thank you! In general terms, bullish market and BUY THE DIP people. Great news!
Good analysis. Upvoted and followed. What do you think about sometimes augmenting TA methods with fundamental value methods? For instance, this fundamental metric that I blogged about here seems to correlate a lot with BTC prices just about as much as Elliot wave analysis and many other TA methods:
https://steemit.com/cryptocurrencies/@kenraphael/this-single-metric-seems-to-correlate-more-with-cryptoasset-values-the-past-two-weeks-than-most-predictive-methods
An upvote/follow will be appreciated as well.
Good shit bro.
Thanks dear. I am watching all your videos. Yours videos are extremely helpful.
<3<3 hope you enjoy it.
I think we could correct to an ALL-LOW 8200-8500 as an ABC correction after these 12345 waves.
@philakonecrypto ABC correction (in red) could correct to a 8200-8500 level:
(1) This is the end of Wave 1 of light blue 12345. Wave 2 retraced little, wave 4 should retrace more. 0.618 Fib retrace.
(2) It is strong support going back to Feb and Nov.
(3) 0.618 Fib retrace (as wave 2) for dark blue wave1 of 12345 wave. (+ Previous wave 2 (light blue) retraced little, this time (dark blue) wave 2 might retrace bigger).
(4) 0.618 Fib retrace for wave 1 of cycle 12345 wave (weekly chart), and there should be back and force between 0.618 - 0.5 of wave 1 at the end of wave 2 before wave 3 starts.
definitely anything is possible. always best to play by ear day by day.
man i have to tell you something: I LOVE YOU
I really spent a lot of time to find a right strategy for me until I found you and your videos from the elliot wave.
that was the key point and since then I am successful!
THANK YOU MASTER!