HODL Da Core - Market Analysis for Jun 4th, 2019


Simple strategy using EW for this region for the  those that aren't so nimble.....

If you believe this is a bull market, note the chart on my last post. Here it is again. Note how a shallow wave ii (top to the box, and be coaxial in price with the wave iv. So, if you are not nimble, set your position at the support for iv with the stop at $5314. Count the cost of a stop at $5314 and set your position size according to your personalized max pain. Be sure to leave some more ammo for a deep 2, if we get it, and just ride through the wave V and wave ii storm. Again, I NEVER trade this way. I am a micro position scaler, but this is one simple strategy, especially if you are a long term HODLer, and workaday. Just food for thought. Note again, if we break below $5314,  there is real risk this bull had its run and it doesn't stop until $1600 (but there are other options too). 

XBTUSD - Primary Analysis - Jun-04 1726 PM (1 day)
XBTUSD - Primary Analysis - Jun-04 1726 PM (1 day)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.