CredibleCrypto

CredibleCrypto

Lot's are calling for new highs on Bitcoin this year, and frankly, I don't see that happening. However, I do see us at the beginnings of our next major upside cycle, starting off of our 3k lows and ultimately headed to 100k+ per BTC by 2023. As expected with a log growth curve, time elapsed from peak to peak is expected to increase while ROI from trough to peak...

CredibleCrypto Updated 

Hey guys, the chart below shows my Elliot Wave count and why I believe we are headed to 11-12k before dropping down to sub 4k for one of the biggest BULL TRAPS in bitcoin history. I'm sure you've seen it, the bulls are out in full force and they are all claiming that the crash has ended. Everyone seems to be super optimistic, yet we know that when optimism is at...

CredibleCrypto Updated 

Below is a simple chart showing what I believe to be our course for the next few weeks. We are currently at a point that we will not come back to ($7325) without seeing sub 5K levels FIRST. Below is a simple 5 wave "ending diagonal" as it is referred to in EW terms. It is also known as a "falling wedge". The idea of this pattern is that as we near the apex,...

CredibleCrypto

Hey guys, just wanted to post this quick educational analysis of what a bear flag looks like and how to calculate the measured move. Pretty straightforward from the chart, but if you have any questions feel free to comment. Also, this bear flag ties in with my other idea that is linked below in case you want to see how it plays along with the current situation....

CredibleCrypto Updated 

Hey guys, in my last idea I posted that I would post a new idea with an alternate wave count since the last idea was invalided due to price action. Here is the new idea. There are quite a few other reasons besides the wave count that make me very confident in this idea, but this idea will mainly focus on the wave count. I may post updates highlighting some of the...

CredibleCrypto Updated 

Here we have a clear rising wedge on the 4 hourly, and at time of writing we have just forced ourselves back into it after breaking down a bit earlier. HOWEVER, assuming this is a leading diagonal in terms of EW, and we are on the fifth and final subwave up of a larger Wave 1 impulse move, we should see a nice dip any moment now. Please note though, we may go as...

CredibleCrypto Updated 

Based on my EW count we are nearing the end of the 4th Wave down of this 5 Wave impulse (Blue Lines). Wave C is coming to an end and we are looking for it to end at approximately $9160. Ending here would make Wave C (of the ABC correction that Wave 4 is made up of) .618 the length of Wave A, and we know that Wave C and Wave A tend to relate to each other with a...

CredibleCrypto Updated 

Here we have a simple 5 wave count for BTC. Currently in Wave 3, looking for a start to Wave 4 (significant dip) soon! Possibly points where Wave 3 ends and Wave 4 begins are noted by the green horizontal lines on my chart. Feel free to comment with thoughts or questions. Updates will be posted regularly.

CredibleCrypto Updated 

Here we can see LTC starting the first 5-wave impulse up after completing a very long correction. As we know, LTC was the first of the major cryptos to bottom out (at approximately $100) and then quickly rally to over $200 within a matter of days. We know that reversals tend to be swift once a correction is over so this quick drive up indicates we are seeing the...

CredibleCrypto Updated 

On the hourly chart we can see a classic head and shoulder pattern playing out on ETH. At this time, we are completing the formation of the right shoulder. The neckline is noted with the red horizontal line, and the green horizontal line represents our target for the completion of this head and shoulders pattern. We got this target by measuring the distance...

CredibleCrypto Updated 

In my last idea I posted about why I believed ETH would see 500-700 levels before reversing. I have re-visited that idea since it was invalidated and now see a reversal nearing. Here is why: Currently, we are in a complex corrective wave (based on Elliott Wave Theory), otherwise known as a WXY correction. A WXY correction is a correction in which there are 3...

CredibleCrypto Updated 

In this chart I have depicted a simple ABC correction that is playing out on ETH. Wave C is currently playing out and will be composed of 5 subwaves, similar to Wave A. We are currently just beginning Wave 3 of 5 for C if my count is correct. Initial targets are posted as horizontal lines and are based on fib retracement levels.

CredibleCrypto Updated 

We can see here a classic ZigZag ABC correction on ETH after 5 impulse waves (not shown). However, with wave C stopping short of the ideal target (550-750 with 350 possible in extreme cases!) we are witnessing a small X wave in the form of an expanding triangle before we continue down to our target. X waves are known to connect two correction patterns together...