Bitcoin's daily Fibonacci line has a correction target of 0.618~0.5. Reaching the target price is only possible in time.
As you can see in the chart, it seems like the price has completed the 3rd wave of wave 3 and is now getting ready for a bearish corrective move to form wave 4 of wave 3. During this bearish correction, we could expect the price to retrace all the way towards the static support zone. However, based on the three basic rules of Elliott Wave theory, wave 4 cannot...
#Bitcoin will correct up to the $68,000 range under the ABC pattern.
Following the last earnings call, ELF Beauty Inc. has caught the attention of many investors, with the stock surging 25% since then. However, we do not believe this signifies the emergence of a new super-bullish trend. Instead, we anticipate entering Wave B, which will likely lead to another significant pullback. In our view, the stock has completed Wave (5) of...
Commodities have been in a bull run since 2020, within an uptrend that can resume after the pullback observed in 2022. Analyzing the CRB Commodity Index, I believe that the pullback from that recent 2022 high isn’t over yet. There’s potential for a C wave that could retrace to 38.2% of the 2020 bull run. This may suggests that inflation might cool down, but much...
Here I have EUR/USD on the 4 Hr Chart!! Upon deeper analysis of EU, the LOW created on Apr. 16th happens to be a NEW LOW since the LOW back in Oct. of 2023!! Since that low, price has been in an UPROAR! Moving fairly Bullishly! Not to mention that it seems we could be seeing the end of an Elliot Wave!! Price is currently at a STRONG ZONE tested Multiple times...
Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price reached the support level, which coincided with the buyer zone, and soon broke this level and continued to grow inside the pennant. In this pattern, XAU rose to the current support level, which coincided with the support area, and even rose higher and reached...
Considering Shopify, the situation is unfolding as we anticipated. We expected the beginning of 2024 to potentially mark the peak for Shopify with the completion of Wave (1), indicating a Wave 2 correction. This correction is likely to find support between the 63.8% and 78.6% retracement levels. Currently, the pattern is showing lower lows and lower highs,...
After the market closed yesterday, Petrobras, a Brazilian stock, released a new earnings report. We're analyzing it in Brazilian Real (BRL) to get the most accurate view of the chart. On the weekly chart, we anticipate a mild but noticeable bearish divergence, especially since the beginning of 2024 when the stock has significantly appreciated. There is...
ETHBTC is one of those charts, which can be telling us that volatility is near. Loking at the daily price chart, it can be actually finishing a larger (A)-(B)-(C) correction, currently seen in final stages of the wedge pattern within subwave 5, with ideal swing zone here around channel support line , 0.045 – 0.040 area. So, as we have been talking about for a...
Parabolic run most likely triggered by spike in utilities as those who missed the AI bubble wanted to find an underlayer to get returns in. Downside price targets of: 158.69, 134.03, trail stop for the rest
EUR/JPY Technical Analysis: - Current Pattern: Rising Wedge - Implication: Bearish (Potential Price Decline) - Expected Target: 0.382 Fibonacci Retracement Level
Classic trend reversal retracement -Bear flag directly into one of the last imbalances (on 30m timeframe) - Breakdown to 393 area very possible in the next month or two - ~10% drop from current levels, would put QQQ squarely in correction territory - Upside is that 393 area looks to be a very strong (and fresh) support
Silver may resume its uptrend after recent corrective decline from technical point of view and by Elliott wave theory. We have been talking a lot about bullish metals in the past months and they may easily stay in the uptrend, especially now when bonds across the globe are recovering away from the supports. We have seen some slow down on silver recently, but we...
Here I have AUD/USD on the Daily Chart! Since the Low in April, Price for AU has been on a Bullish Run! I believe the Resistance Level it has been struggling with all year may be coming to BREAK soon!! On the tail of LOWER than expected NFP numbers for USD last week AND word that the RBA may be needing to look to INCREASE INTEREST RATES .. We could see MUCH...
Rally was short and sweet. Got 0.50. Fibo. Meta cracked it. Was fading all day already after the morning pump; just three up days. C legs typically extend farther and give a 1.62 extension, capitulation and panic prevail. May will be Bearish, at least to start, imo. Need to watch this correction carefully to gauge whether it takes ABC form or a more sinister...
A correction is coming soon. Maybe started this week. How low will it go? Nobody knows. So many Bearish Posts. Permabears predicting cataclysm. The End is Near! Doomsayers who repeatedly forecast massive crashes will eventually be right, once every 15-20 years. Almost always these guys are just plain wrong. Markets exist to print money. Money prints when...
Not to say I told you so, but, yeah, I did tell you all a while back when we broke previous all time highs that the 58K range for Bitcoin was still in play, and guess what happened? We hit it... Well, I didn't post that one on TV, so I may not have told you guys, lol, but it's on my other outlets. Okay so now that is all out of the way, let's talk about what...