BlueLineTradingLLC

BlueLineTradingLLC

BTC is heavily traded by retail, making it a prime target for Elliot wave forecast. While you may think 170k is not possible, many said the same about 20k and 70k.

BlueLineTradingLLC

The weekly volume downtrend has started to show signs of a shift on the last low, which found confluence with the .786 retracement, which is a common wave two target. That said, if the shift continues, I would expect TSLA to start a aggressive move to the upside.

BlueLineTradingLLC

V hit the 1.236 extension back in March and has been in a choppy pullback since. The weekly RSI suggests we are still in the greater degree wave three, which would make the current pullback wave four of three. That said, we are targeting between 262 and 254 for the wave four of three pullback.

BlueLineTradingLLC

Based on the current structure off the bottom of the Covid 19 correction, it appears we have a clean wave 1 and 2, and we are possibly in the beginning stages of wave three, with weekly RSI and MACD supporting the theory. That said, looks like price is currently in wave 1 of 3, which we would like to see target the .618 extension, but with the greater market in a...

BlueLineTradingLLC

While the structure off the October 2023 bottom, is not the most revealing, due to it’s lack of sub-structure, it is a testament to it’s bullish nature.

BlueLineTradingLLC

While the structure off the October 2023 bottom, is not the most revealing, due to it’s lack of sub-structure, it is a testament to it’s bullish nature.

BlueLineTradingLLC

No matter how you slice this pie, it is going to taste good. The weekly volume is picking up, confirming the start of wave three, which is where the safe money is made. The ADX also indicating that this long term bullish push is just getting started.

BlueLineTradingLLC

Looks like the structure has I nice base to build off of.

BlueLineTradingLLC

I sent this out to our chat room a couple of months ago and it has been following the forecast nicely. If things stay on track, we should start seeing some excitement soon.

BlueLineTradingLLC

While this is still preliminary and there isn’t much price action to work with off the potential bottom, the technical indicators are providing good upside confluence, with historical resistance and option flow giving fairly clear skies up to the $20 zone. Further forecast to come as the chart structure builds.

BlueLineTradingLLC

The split has really cleaned up the chart and with some patience, there could be some real opportunity on the wave two pullback. Once a top is confirmed, volume will be the guide to get a more accurate greater degree wave two target. Currently, we have it drawn shallower, targeting the lesser degree wave four position, as there is a bullish nature to this ticker....

BlueLineTradingLLC

JPM has excellent greater market confluence to support its forecast, which in our opinion, puts the odds in your favor. That said, catching tops and bottoms can be risky, while selling covered calls for stock holders may be the safer way to get exposure.

BlueLineTradingLLC

Once 210 zone is reached, we should look for a meaningful pullback toward the 177 zone, followed by a run to new highs.

BlueLineTradingLLC

Run looks primed for further upside. A break above 21 would be wave three confirmation.

BlueLineTradingLLC

FB is looking mighty suspicious as a bullish long term growth target.

BlueLineTradingLLC

With resistance at 820 is respecting the pinball forecast, with last week’s candle structure indicating a pullback is possible. While it is possible for the current wave structure to push higher, the RSI divergence supports otherwise. While any pullback would need evaluation, it may lead to a great buying opportunity.

BlueLineTradingLLC

Indicators line up and provide nice confluence with the pinball forecast.

BlueLineTradingLLC

While the indicators don't currently show strong upside confluence with the forecast, strong upside volume would be a good indicator of possible all-time highs. Remember that as we near the upper portion of wave 3, we expect divergences to build.