Premium & Expert Swing Trades
Overview:

We have mentioned since the initial dip in 2018 that it is never clear if the initial bullish swing is the beginning of a broader bullish wave or continuation of a corrective cycle.  With the moves recently many are suspect as to whether this move is the beginning of the next bull run, or just another fakeout?  After more than a year of the market looking grim, and the exodus of many, how do we confirm this is really the beginning of the bull and is it time to ride it.

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4 Responses
  1. JW911T

    Thanks for your observations. I DCA’d into the 4K and 3K so I feeI I stepped in and I am looking do do some more buying at these levels – investing rather than trade. How do you feel about the opinion that in the relatively short term BTC will go higher first before a new and deeper corrective move takes place. I see this in some of the TA (ex., https://tinyurl.com/yyd9u255) and you do not seem to address this in the article above (and yes, I know you don’t have a crystal ball :-). I’d be interested in your views.

    1. Andrew Gonci

      Thanks JW, Keep in mind there are numerous EW patterns that can evolve. In my opinion we already completed a 5 wave triangle pattern or an abcde pattern. Here is the count and I had a similar count prior to the 6k support failed. https://www.tradingview.com/x/PEQvvK8T/

      Often in a horizontal triangular consolidation wave E is exaggerated breaking the trend line of the triangle, reversing and moving the opposite direction. Sucks in the bears and reverses. However we never know what will come, but what is shown is a typical but more complex triangle pattern.

      Not sure why he mentions 5th wave down this is more of a triangle breakout to the downside which we see a pullback and then breakout. Like I said not that we can’t move lower, but as we take out 4500 and 5500 it becomes a less probable scenario.

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