NewThoughtCrypto

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[NewThoughtCrypto @NewThoughtC]

https://t.co/sMDtK7w61p

[NewThoughtCrypto @NewThoughtC]

@CenkRitter Long-term I have about the same target

[NewThoughtCrypto @NewThoughtC]

Almost ready to roll over
#BTC

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

It remains to be seen; hopefully I am

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

@Abdolkarim1313 No sign of rejection.

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

@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.

[NewThoughtCrypto @NewThoughtC]

@Scalp_art1st1 🙏

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

@varyemez64

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

@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.

[NewThoughtCrypto @NewThoughtC]

https://t.co/fXYJLDq12u

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

@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

[NewThoughtCrypto @NewThoughtC]

@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.

[NewThoughtCrypto @NewThoughtC]

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

[NewThoughtCrypto @NewThoughtC]

NIFTY 50 Update:
The NIFTY is in distribution.
Two short setups I would consider:
1. Deviation above the range (UTAD) and rejection back inside.
2. S/R flip of 25.5K.
I hope this helps.
#NIFTY

[NewThoughtCrypto @NewThoughtC]

@Patiyala_Pegg Reasonable. Good luck