How I Plan to Buy Bitcoin in This Correction

So, a probably quite volatile week is ahead of us, and I record this video while we approach the weekly candle close. Bitcoin remains under pressure at the moment. It's trying to recover a little bit, but we stay below the most uh even below the smallest resistances. So, we will see how the market reacts. I will zoom in in a minute and we'll take a look at the microstructures as well. Um but before we actually do that, I want to talk a little bit about how I plan to accumulate Bitcoin. And I want to just give you some general best practice uh perspectives and education on how, from an Elliott Wave point of view, it can make sense to accumulate in such a support zone. This doesn't necessarily mean that you have to buy Bitcoin here. I tell you what I'm doing. And I said I'm going to buy Bitcoin. Uh and I will also buy in the support zone, should we reach it? Yeah? Should we reach it because uh Bitcoin is still holding above the 50-week SMA, and I said to you before this is a very important support. So, maybe we never reach the support zone, yeah? But again, there is at the moment no evidence that we get a direct breakout to the upside. We would need to see at the very least a break above this last high from October at around $82,050. Better, a breakout of this channel to the upside. To me, this downside move doesn't look fully complete, so we might still see a few more lows, but I think we're not far away. I mean, look remember we started this correction more than a month ago. And this correction was expected, yeah? And it But but my view is still that this is a pullback in a larger uptrend. So, we can still continue higher medium-term, right? That's my view. Maybe after the midterms. So, let's say the price goes a little bit lower, yeah? Maybe this all becomes a bit more a complex correction, but let's say we go a little bit lower into this support zone. People ask me, "How do you buy?" And I typically buy in in kind of four batches, four tranches. At least that's the ideal pathway. [snorts] I mean, what I'm going to show you is kind of the ideal the ideal situation. It's not always ideal, right? Markets are messy, and we have to be able to adjust in real time. But because a lot of you asked in the comments in the last videos, and I always try to cover some of your questions, I will show you a schematic view of how this can be done, okay? Again, no financial advice, no recommendation. This is just for educational purposes how Elliott Wave traders often approach this. So, this is the Bitcoin uh support zone here, okay? And let's say Let's say this is where we are right now, right? We approach the support zone, and the 50-week SMA is somewhere here. We We approach the support zone. And um normally, I would say a small position, yeah? I would I would add a small position when the support zone is reached. Now, I said here 15%roughly. If you say for a trade, yeah? You have maybe this amount, that's 100%, not 100% of your portfolio, but for this particular trade, you have 100%and then 15%is the small position when we enter the support zone. Look, some might even split that one up into three to four tranches, okay? Around the fib levels. This can happen. Many people do that, actually. Um but again, I just show you this is kind of the initial purchase. And you can split it, but this is basically buying into the pullback. You have no confirmed reversal yet. When we then have a reversal of sorts, and we break above a technical level like this B-wave 25% So, slightly larger. This is when for example the high of the previous B-wave is reclaimed. Why? Because we all know in crypto sometimes pullbacks are shallow and sometimes after a test of support we break out directly. And so this this this kind of strategy ensures that you have a foot in the door and you also trade the breakout but not like with all in. Instead just a slightly larger batch. And if we then get another pullback and we see a reaction after an initial five-wave move up and three-wave move down 35%. Why? Because this is an additional evidence that we have actually bottomed and you get a better price than up here. So, again 15%25%in a possible breakout situation but only 25%because it is likely that we get another five-wave move up and three-wave move down so you want to save a little bit more for the next pullback and then in the real breakout the move above the first five waves the last 25%. Do you know why I like this strategy? And it doesn't need to be exactly you know those percentages but buying in the pullback small position. Why small? Because what if we don't find support? Keep in mind the first one you buy without confirmed reversal so price could just go lower. But the 15%means it's only a little bit of money. Right or little bit of money I shouldn't say that it depends on how large the position is but it means right you only have a small portion of the capital that you want to deploy for this trade. Okay? So, if it fails it doesn't hurt much. Then 25%here because what if we break out directly? Right? So, you you want to be able to to buy a little bit in a break breakout situation. Even though the breakout isn't guaranteed, so it's like only 25%. We go with the most likely pathway, which is five waves up, three waves down, so you want to hold some money back. And then when you see a first reaction down here after the five up three down move 35%. Because that's the ideal situation. That's a further evidence that the low is in five up three down. And then in the breakout the remaining capital. And so that is a good balance between risk management, so you you don't go all in immediately. You prepare for different scenarios. And if it just goes through the support area, it doesn't hurt much and you can keep the remaining funds for lower prices. And what if we just break out directly? Well, then you at least bought 15 25%. Okay? So again [snorts], I'm not saying you should do it that way, but this is a a strategy buying in batches as many Elliott Wave traders would do it by keeping risk management in focus. And through risk management you make money, right? So yeah, um so I try to follow this this plan. People ask me how how I do it. Um Again, this it doesn't even need to be that complicated, you know, sometimes the market doesn't form these nice patterns here and it's just a nice to have the foot in the door and maybe buy the breakout. And if there is another pullback, fine, you know. Um [clears throat] so essentially there are different ways of doing this, but this is one of the the best um the best methods in my opinion when buying a pullback in a wave two or wave B pullback. And by the way, if you're not doing it yet, make sure that you also follow us on X for additional updates on many cryptos, intraday updates, you know, updates between the videos, exclusive videos. It's the more crypto online channel, the one with the golden check mark. I'll leave a link for you in the comment section. And so yeah, I mean the ideal situation here then would be okay, you know, buying when the market moves into support, waiting for a break above a technical level, you know, that could be one of the last swing highs, ideally even a B wave high. Yeah, cuz so 15% 25% then the next three wave pullback, a reaction. Next batch and then break out last batch. So, then you have it also on the on the actual Bitcoin chart. So, let's now take a look at the smaller time frame. I hope that answers the question, but if not, then feel free to let me know in the comment section. And here you can see that Bitcoin has broken back into this channel, um but we are still below the resistance that we defined for the weekend, which is here between 78,375 and 79,050 Bitcoin um moved up as expected actually because in the last update we said, "Well, Bitcoin might have completed a third wave. It's a bit short, but could be a third wave still. And we now expect after a third wave a fourth wave bounce. And so we wanted the market to move a bit higher in a fourth wave, which could still extend a little more. Um possibly a little bit higher to move into the resistance area. If we see a rejection there, then we might still see that one more low. Keep in mind that should we see a break above 79,050, it would be an indication that something different is unfolding, something more complex. That possibly here um that we we we are simply forming here something like an ABC structure to the upside in the yellow B wave, and that means a larger countertrend bounce to the upside before we get the final low. That can always happen because um we're dealing with corrective structures. And corrective structures can change. For now though, the move to the downside looks much more aggressive than the bounce, and I don't really see much of an impulsive upside reaction. So, therefore, I see no reason to you know, to to call the yellow count the leading one. But should we see a break above resistance over the coming sessions, that would be the focus. So, yeah, I hope that gives you a good idea here of what Bitcoin is doing. Um if you're interested in additional updates, I also recommend that you check out our newsletter. So, for those of you haven't subscribed, I sent out the next uh it edition today. Um it's the MCO Intelligence Newsletter. The next one will go out next week. Feel free to sign up. Um there's also an MCO uh Elliott Wave cheat sheet when you sign up, a PDF with all the patterns that I'm using. It would make it more easy to follow the videos. And I put the link in the comments, and it's available in English, in German, and in Spanish. Yeah, thanks so much. Bye-bye.