Bitcoin day trading – The best Elliott wave analysis – Episode #51
welcome this is bitcoin day trading the best elliot wave analysis episode number 51 so i'm back today for one more intervention i was busy the last two days on monday i had some appointment with some clients and we went afterwards out for dinner in a restaurant so i um after doing that i didn't feel like uh taking some more time to update you on youtube because i already talked the whole day about bitcoin with my clients so i didn't want to keep talking about it so i skipped the monday and tuesday i had some monthly maintenance work at my place and the the guy that did the maintenance work and did a mistake at the end he did he did forget to close a valve and i had a water leak in my apartment so that was um that took out a lot of time and i could not with about anikia um also post videos on youtube anyways my view youtube interactions are free interventions so by that i mean i don't feel any obligation to update you uh five days a week and the only reason why i should do it is to increase the number of my subscribers on youtube and maybe find some private clients under them but i've already reached the goal that i wanted to reach i want to have a couple more private clients now i do so for me um it is not necessary to keep on posting videos on youtube anyways i'm still gonna do it from time to time uh maybe maybe every two day or two days or may maybe once a once a day during the week i'll see how i feel and if i want to do it but i don't feel an obligation i feel an obligation for my private clients because they put money on the table for my analysis so i feel obliged to them to provide them those analysis but i don't feel the same obligation to to the community on youtube because it's free and i don't mind doing these videos but they are not important to me i don't want to be more popular that i am right now so for me it's not so much important how much how well my videos do or how many videos how many people follow me and and so on that doesn't matter i'm a trade after all and i must be careful that my youtube intervention and the other stuff i do even my clients don't take off too much time but that i mean an amount of time that will hinder me from doing the things that i want to do and and trading and playing the piano and writing philosophy books so i have other points of interest than the market i don't think you should be too obsessed with the market if you only look at the charts and you're obsessed about it 24 hours a day i don't think that's a good thing i think it's it's it's healthy that you take a look at it that you do your job correctly but that you have time for others other activities in your life i think that's healthy i don't think i think you will make a will do a breakdown if you if you for if you if you are in the chats all the time and uh it could be quite uh dangerous because you could become a sociopath a gambler you could you could become an impulsive sociopath impulsive gambler and some people become it and that's a very bad thing normally they they can't get out of it during the entire life and they and they they wasted most of the uh and those people um not successful in trading so they will also lose their money so i know some of them who are sociopaths impulsive gamblers and it's a very bad thing it destroys your entire life so i need to keep some distance between me and my activity on youtube and even my trading it must be saying it must be it must be reasonable it must be a business it must not be something that i do for fun or that i do to be famous or anything else it's just a business that that allows me to make money and pay for my living but it's it should not be something that obsesses you beyond what is necessary to be a good trader now that being said i'm going to take a look at the charts with you so first let's take a look at my disclaimer as always here's my disclaimer and here's my risk running please read it so that you are aware that the risk involved in trading and if you are interested in my services i open live elite wave updates i wasn't able to do youtube intervention but i managed to do my live edit wave updates for my private clients so they did get them without any any interruption even though i had two very busy days i still managed to make the the updates for them it takes me less time to to make a screenshot and describe what is happening then to make a youtube intervention so my my um my private chance did get as promised the one two three it was more than that updates and the only day i didn't do it was on saturday because on saturday as you know the weekends i take i take off and on saturday i didn't post but i started posting again on sunday evening so they and they get did they did get sunday evening monday and tuesday updates of my outlook on the mbtc and the latest wave development so if you want to become a private client also then just contact my free telegram group enter my free telegram click and send me a private meshes so and tell me that you are interested then i will provide you the instructions on how to become a member that being said we're going to take a look at the charts and see what happened since last friday because i didn't talk to you since last friday the 10 november was it friday let me check and then for some monday so friday was a little later maybe to 12 the 12th was friday so the last time i talked with you was here at the x-wave and we then accomplished wave 2 higher and now we are accomplished by 3 low and we have to understand that in the process of accomplishing wave four right now and that will be followed by wave five down and that could be the in the lower the end of the collection so for the end of the question i have a target between the um the top of wave 5 and the low of f3 and the low of wave four and so the span of the fourth wave and that is at the level 57 800 and 53 909 so that's my target area in the darket area you also have the 38 retracement of wave 3 so that's also a point where the price could turn around but the most important thing once we have done wave 4 is to get 5 waves into the law of wave c that's the most important thing and it should um button and it's likely that it will button between as i told you fifty three thousand nine hundred nine and fifty seven thousand eight hundred fifty five i'll i'll try to update you on the exact um place where it is likely that it has button when it did and my private subscriber will be the first to know as always um the only the only level that we still have to break is and the bottom of wave a and that is at 58 100 and i'm expecting this to happen very soon as soon as we um as soon as wave 4 is finished and we then we 5 should go below the 58 100. that would make it an expanded flat one he got irregular flat and would fit nicely with the bearish picture i've talked about a running flat now that we are that low and that i only count it as wave three i think that a lot a running flat is um extreme is unlikely right now so i'm not expecting us to turn um to go higher before we went below 58 100 in the low of wave a so i don't think that the low of wave a will hold i don't think it will be a running flat and now we're going to take a look that was the three-hour chat now we're going to take a look at the 30-minute chat yes it's the 30 minutes out and on the 30-minute chat we'll see with more detail the the price decline so here i also have a wave one here at 62 294 i've put a wave 2 up here at 66 387 and we now had a wave 3 at 58 563 and now the question that looks uh very keen and there's not much to say about it you can see the internal structure of the third wave which nicely subdivides into five waves but now the question is what correction will we get for wave 4 and i've talked about with my private clients about the possibility of it being a triangle so if you look at the triangles and there are different types of triangles here you call it a symmetrical um descending ascending and reverse symmetrical and on this one you call it contracting barrier and expanding and in both cases we we right now we are in a bear market since uh five waves are pointing down and the correction is an abc as you can see you you get five waves down here and the collection is an abc okay uh when when you go up it's uh you only have an abc and when you go down you have five waves it is a bear market so this is a correction and the question is is per market it's a bear act in a bull market but still a correction so we have to look at the bear market and see which one is possible of the triangles and the only one that is possible here is the reverse symmetrical and on this one it is the x and the expanding i normally call it an expanding so let's keep with expanding on the expanding one you see that in the start of wave a is here we have the plus then you then you get wave a then you get to hp and wave b goes below with a and that's important because right now we are seeing that we went lower than wave three okay and that's the start of if a since we have a starts here so we went lower and since we went lower i have to label it as wave b and wave b goes lower and the only possibility for wave b going lower is the reverse symmetrical triangle because here with b goes lower than the start of wave a and then wave d goes also lower than start of weight b and if you can check that's what i put here i put wave d also lower than the start of wave and then wave b and in and the other side is the same thing in reverse so it goes higher but an expanding triangle or a reverse symmetry a symmetrical triangle are where so the most common one is probably the symmetrical and then the descending is is is common also the ascending happens sometimes but the awareness of them all is the reverse symmetrical which here is called an expanding and since we went to new laws for what i call here wave b i don't think that it's really probable that we will get um a triangle so i don't think that we get three waves for a three waves or b three waves for c three waves are d and three waves e i think that's unlikely and then we go lower to me that's an unlikely scenario so i don't i cannot exclude it 100 but i but i'm not favoring that kind that scenario what i'm favoring is that we make a simple a b c and that that should be it or maybe it will you get the x wave and then one more one more abc but for now let's only focus on the simple abc correction for waveform since this is wave three and this is wave four there is the non-overlapping rule so a wave four cannot enter the price territorium of wave one so wave four cannot go higher than 62 294 we should stay below that level so 62 294 is resistance right now and it would break in my account i would have to re-label it if we go higher if that happens of course as oh as i'm telling you always the first who will be informed of the new label will be in the members of my private channel and it's it's very analytical and i think if you subscribe to it or try it you you will like it it's useful if you're a trader or if you just want to learn more about elite wave so that was all i wanted to talk about with you today about chats you are informed of my last outlook on btc and we'll see where the bottom of waves he will be oh no there's one more thing i can tell you um i nearly forgot let me go switch back i was talking also about an alternate count which was a bullish alternate count and i told you that i only gave it 10 first i said between 10 and 20 then i went down to 10 percent and now it's totally impossible because here you had wave one that started here and wave two cannot retrace below uh the start of wave one and we went below that also i tried to label this also as an impulsive move and the same thing is here you cannot go below the start of the impulsive move and that was here at 62 300. so twice it it broke the walls and right now i can declare that the bullish alternate count is impossible it had anyway always a very low probability and i only showed it sometimes to try to find an add-on account but i was never found of it as you know okay you have my latest outlook on btc and i will be keeping updating my private member of my private channel and if you if you haven't done it already then i would recommend you to have a second way of communicating with me because you never know what happens and so and then you're also informed why i'm not posting or when i'm um are you a youtube intervention and when i i'm projecting of posting my last intervention all that you know it if you subscribe to my free telegram group it's a public group it's free so subscribe to it and and why not leave me a comment on youtube and and the last thing you can do for me is hitting the like icon thanks for watching and i see you maybe tomorrow for one more intervention have a nice day bye you
2021-11-18 20:41
