The Crypto Capitulation, Or Not?


Following my last post I stated that "bounces were for shorting" if you were a HTF trader and boy oh boy did that play out better than i can EVER expected. Bitcoin and the ENTIRE cryptocurrency market PLUNGED in one of the nastiest, fastest, and violent moves I have ever been a part of. I was able to see the entire thing unfold essentially right in front of my eyes in real time, and let me tell ya seeing the price fall like a ROCK off the 70" flat screen was a sight to behold. If you were in discord you would of been kept up to speed every step of the way as I was able to give out this last ditch TA mere hours before the plunge to 4k. (check the date and time in the top corner) Even with making the call and watching it unfold before your eyes had me NERVOUS. So nervous in fact I was sweating watching the screen as I was in utter shock and disbelief at the sheer magnitude of the move in such a short amount of time. By the time the dust settled $BTC had fallen 52% in just a matter of 3 days. As this all was happening I was doing my best to make sure we were just one step ahead of the market at all times. In discord we plotted and waited patiently until a buy signal was triggers at 39. The quick dip to 3.88 and a few other factors like a very valid wave count made us pull the trigger for the ultimate knife catch at 3967.

As we stand today $BTC has been stuck in a range that has been nothing less than a day traders paradise. Time is becoming to be factor here and I can see a few options on the table. For me though I have no choice but to chose the option below. A test of lows and a quick throw back to top of the range to complete what i would have to call a giant flat wave 2. With elliott wave for the guidance we will see what lies in front of us. For me its this due to the current events happening not only in finance but also in the world. Liquidity is super thin across crypto so you must stay vigilant and also very respectful of the market. I can very well see us straight shooting through our invalidation level but thats the game we play. Breaking the low made at 3913 would 100% confirm the bearish flat and the ultimate dagger is about to hit the crypto market.




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