A quick long trade in the 1H timeframe (good for leveraged trades). Entry: 0.002164 TP1: 0.002276 TP2: 0.002388 SL: 0.002052
The impulsive wave that began in mid-October is losing steam. My count considers that the current grind to the upside is an ending diagonal for blue wave 5, in green waves I to V. RSI divergence is also showing up. The low 0.06´s are good targets for the pullback, but let´s wait for further price action.
The yellow target zone hasn´t yet been reached, and we´ve had a low volume sideways movement for the last 7 days. For now, I´m considering this to be a triangle, and will keep a watch on a test of the lower trendline or break of wave d.
We had a solid impulsive movement on CYBER, which seems to be entering a correction phase. This would be wave 1 or A, and I'll wait for a correction before looking for long trades.
The extension of the latest wave to the upside (almost 261.8%), gives us a high probability that we are currently wrapping up blue wave 3. My plan is to wait for a correction to at least 38.2% pullback and then look for long trades. Note that there is also bearish RSI divergence on the H4 timeframe.
Looking at price action since May 2021's high, we could be close to the end of the descending cycle. We have already reached 100% extension of gray A-B, which is a very common condition of Wave C. In my primary count, we are currently in black wave 5, which would give us a new low below 183.4.
The persistent uptrend from September took wave 5 all the way up to 0.2200 in an ending diagonal. Correction could be finishing wave C in the 0.1100 zone, which is a confluence of: - 61.8% pullback - major resistance/support level from August / early September - just above 161% extension from waves A-B. I´ll be watching how price reacts from this level to decide...
Tellor´s solid upside move could still give traders interesting buying opportunities. In my primary count, we´ve finished red wave iv, and a new high targeting 67 is expected. Count is valid as long as we stay above red wave i high (at 37.35)
Entry: 0.00683 SL: 0.00656 TP1: 0.00710 TP2: 0.00737 TP3: 0.00791 The argument for this trade is the exhaustion of the correction and break of the descending trendline. Even if the correction movement continues to the downside, I expect at least TP1 to be hit, eliminating the risk from the trade.
The downtrend should continue for a retest of 0.4185 low (yellow line). Key arguments: There is no RSI divergence on Sept. 11th low. There is a valid impulsive count for the downtrend (wave 4 respecting wave 1 -> purple line) Conditions are in place to consider a flat correction is finished (green abc).
My primary count in the daily timeframe still holds, but blue wave 4 is insisting in taking forever to wrap up (5 months already). We already have the conditions to consider that a regular flat is finished, and the last leg down gave us RSI divergence. Target for Wave 5 is $10
The chart shows my bullish and bearish scenarios for Solana. As long as we stay below $22, I´ll be looking for short trades. This is my primary view at this moment, and could lead us to a retest of December´s low at $8.
Ripple´s downtrend doesn´t seem to be over, and I´m working with 2 correction scenarios: BLUE ABC -> Flat correction which would retest gray resistance (around 0.56 RED ABCDE -> Triangle In any case, I expect further lows after this correction, initially targeting 0.4367 low.
Price action from early July is happening in 3-wave movements (green ABCs). This is indicative of an ending diagonal, and I expect another 3 waves to the downside for wave 5. This count is valid as long as we stay below wave 2 (21.255). There is slight RSI bullish divergence, indicating the loss of strength in the downtrend, but I'm keeping this count as my...
IOTA is printing an impulsive wave since mid-August, and my primary count considers that we´re in the first sub-wave of green wave V. A break of 0.1747 sets the first target at 0.1872 (wave III high). Higher targets may be set after further price action.
The broken flag from my previous post led to new lows as expected. In my primary count, we are already on green wave V, which would soon lead us to bullish price action. But soon doesn´t mean now... I´m waiting for further price action to see if bulls step in, beginning with a break of the green descending trendline.
The correction on the daily chart has played out in line with my primary wave count. Even though I believe we are on the final stages of this correction, the lack of RSI divergence and sideways price action still points to another leg down before any significant upside.
The triangle that began in mid 2022 seems to be finished, and a breakout to the upside is in play. If we get a follow-through, the first target is the purple line (wave B pivot). I'm favoring short trades in crypto for now.