I am sick and tired of hearing bullsh*t TA everywhere, I am here to provide free and biased TA!
That's right. Biased. Trading is all about choosing the high probability position. Most TAs do not provide a biased information because they are AFRAID they might be wrong!
If you are afraid of being wrong, you cannot become a good analyst/trader. We are here to play a probability game, which is based on losses and failures.
Let me talk about (BTC).
Following a bullish divergence on June 13th(4hr chart), price recovered almost 10% BUT my position is still very BEARISH on (BTC). Why?
I still believe that we are in wave Z of WXYXZ correction with last wave 5 left to finish.
Wave 3 hit exactly 1 to 1 extension of wave 1, so I believe possible target for wave 5 is anywhere in between 1 to 1 extension of wave 1 (double bottom) or 1 to 1.618 extension of wave 1. Target range is $5,184~6170
RSI shows lots of bullish momentum(series of higher highs and higher lows) BUT price action does not agree with RSI.
In this case, I am seeing a hidden bearish divergence- (higher high on RSI but lower high on price action).
In order to consider bullish momentum, price must break above $7,050.
If it does, I will update you guys on targets and supports/resistance.
*Let me know which crypto/stocks you wish I did TA for.
