Bitcoin Majestic Chart

10 במאי 2018

Our (iv) is a crucial level to hold, below would start to invalidate EW uptrend. You can download this indicator EMA's on my profile under scripts.

10 במאי 2018

הערה

Breaking above (v) can take us to 11283 (1.382) or 11519 (1.618). Below 8900 (current local bottom) or below (iv) likely to see 8600-8522 (1.382) or top of (i) and 1.618, which is 8286. Next support below would be (ii) or deep retracement to 7500.

10 במאי 2018

הערה

Long above (v), short below (iv). Ideally break just below or above, don't short at the down target (because short close here) vice versa for long up target. Should be pretty obvious.

10 במאי 2018

הערה

For example a short would be opened at 8750 with target 8500-8286

10 במאי 2018

הערה

A long would be opened at 9950, with target 10300+

11 במאי 2018

הערה

UPDATES:
Hourly looks oversold, should make a bottom here and small bounce up, we still need to get a third legg down to get a better bull support so this would be a scalp. We would want to short the breakdown of (iv) if we manage to get there. There is also this upward trendline where the strong impulse of the pump took of and will create some decent bull support too, below will get more bearish.