NewThoughtCrypto

@CenkRitter Long-term I have about the same target

@NewThoughtC Why not? x.com/CenkRitter/sta…

Almost ready to roll over #BTC

It remains to be seen; hopefully I am

@BnZq2211 I can't rule it out, but it doesn't change the big picture.

@NewThoughtC What about the gap on 77.3 🫢

BTC Update: Two macro scenarios for BTC. I prefer Scenario A. Bullish Invalidation: Strictly speaking, as long as Bitcoin's price is below 99K, it is still in a downtrend. However, if the price finds acceptance above 80.6K, which is the previous range's low, I will reevaluate the situation. #BTC

@Abdolkarim1313 No sign of rejection.

@NewThoughtC Oh you didn’t take the trade. That’s very interesting. What is the factor that made you wait and why reaction. This has intrigued me a lot

BTC Update: Wave C is at its final stage. #BTC

@Abdolkarim1313 It is a rough sketch. I will update the SL and entry. Hopefully, before I take the trade, or not long after.

@NewThoughtC Would appreciate your thoughts. Also why is SL below the 1-1 for wave C at 78,890 while 1-1 is 78,945?

@Cocnzz @naturen59056160 No. The 1:1 ratio between waves A and C is 79.145K. The price can go up to 80K-82K, but I will be ready to pull the trigger at 79 K.

@naturen59056160 @NewThoughtC So your C target zone? 80-82k?

@Scalp_art1st1 🙏

@NewThoughtC Your updates bring us back to life. Amen

@Abdolkarim1313 @varyemez64 You read the article I wrote about an expanding diagonal?

@NewThoughtC @varyemez64 Now this is confusing me. Wave 3 at 46k whst HTF count is this ?

BTC Update: Since February 24th, Bitcoin has been moving in an ABC pattern indicative of a correction in wave 4. Wave C, the final wave in that corrective pattern, is in the final stage. Trade Idea: I am looking for a short trade after a rejection from the blue trendline. Entry: 76.7K – 79K Target: 59.5K (200W SMA) I will decide on the exact entry and SL after I am convinced wave C is concluded, and update it in a future post. Bullish invalidation: Price > 81.2K I hope it helps. #BTC

@NewThoughtC If Bitcoin breaks 60k, you can be sure it won't stop there and will fall 'til 50k.

@Abdolkarim1313 I pull the fib from both points. It's just a reference for a level. Fibonacci is not an exact science.

@NewThoughtC Question, when you have a truncated wave 5, do you draw the fib from end of wave 5 or the lowest point of the whole impulsive wave in this case end of wave 3 60k?

@Abdolkarim1313 I keep both: An arithmetic and a log scale chart. Trendlines are a reference point, an important one, but a trendline is not infallible.

@NewThoughtC Thank you. I realised you are looking at the trendline based on log scale if I am not mistaken. On HTF would you advise trendlines on log scale as well? I thought it should be on arithmatic always like channels

@Abdolkarim1313 This is my updated thesis for Bitcoin. I will explain later.

@NewThoughtC Hi, Don't you believe we can see a bump and run pattern forming? If so would you advise on momentum trading or breakout trading? Only Issue is i cannot see an invalidation point for SL. Any advice?

@Abdolkarim1313 Frankly, I never utilized this pattern. You can trade it as a range breakout. I am not convinced it is, at least not yet

@Patiyala_Pegg I don't know, not yet. Let it hit the low end of the range first. Based on the response, we'll be smarter.

@NewThoughtC Do you see nifty around 18300-17400?

NIFTY 50 Update: In a previous post, I shared my view that the NIFTY was in distribution. The following PA confirmed my thesis. The price is now heading toward the low end of the range at 22k. I expect this level to hold the downtrend, at least temporarily. Based on the reaction to that support level, I will evaluate the likelihood of a continuation of the downtrend or a recovery to the upper end of the range in a UTAD. 22k is the level to TP on a short trade and to contemplate a long trade. #NIFTY

@Patiyala_Pegg Reasonable. Good luck

@NewThoughtC I'm looking for 21600