So to following of anterior projection, still valid, precise and exact :
On coinbase less volatility conducted on the lateral extension of the trend line but the behavior remained the same. we bounced a little :
We indeed bounced near target zone on past resistance now became support on BFX.
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We had huge volume on the projected end of correction
Macro are still bullish and very healthy. HL on daily MACD :
Weekly still keeping his bullish crossover :
If we indeed bounce on white line support i might go long on everything
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Short term :
Im looking for an ABC or a linking pattern that will make the transition before bigger pattern. To remain valid the wave C must reach A price levels and must be made of 5 wave _______________
Still same major and macro target zone. still behaving like i project. Consistency is the key. Better read and understand this before i update this scenario to not loose key element with further updates. I expect a raise in volatility.
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Im looking for a stop (C wave completed) at 6520-6540 price zone on BFX chart. not playing this. Watching.
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great ! this is the kind of structure I want to see for a C wave of an expanded flat ! :
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last 5th ! Remember i said * Im looking for an ABC or a linking pattern that will make the transition before bigger pattern. To remain valid the wave C must reach A price levels and must be made of 5 wave* & *(C wave completed) at 6520-6540* :
This is exactly what we have here.
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C reached ? need to take micro time frame chart :
Would work with fibonnaci ratio and elliot rules about running flat :
• Wave C = 61.8% – 100% of wave AB
Trade closed: target reached
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short term target reached 6520-6540 zone. ended at 6535 :
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So the bounce is still shy (Im using coinbase chart this time). Compare this present MACD with the one in the original post. I said that the optimal form for MACD was a double bottom on 4H :
Its look like an ABCDE but I just want us to focus on something more simple. we must keep the double bottom AND the trend line. Both goes together. I dont reject a retest at the lower trend but if this retest is not rapidly bought I draw what could possibly happen.
Im stick with bulls for now
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fact is alt chart look all like they are in a major bullish pattern
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Watching it because this is where I might take long positions like I said earlier in this post
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too much latral extension to be a flat. Not 100% sure about the outcome of this pattern but simply keep an eye on the support. Much easier to position ourselves when unsure. It could be a bearish triangle pattern but the RSI doesnt reflect like it (SHS form should reflect on RSI with triangle pattern) that makes start the count where i start :
On 4h hours chart :
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daily update:
Again. Projected the good short term move since the beginning of the week. But what lacks my projection is the outcome because right now I dont know how to name it. So I will naviguate with trend and MACD :
Not an easy week for TA but overall succed to project short term move
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again this move was projected. happened not too long after my update :
now lets watch
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using linear chart. It gives us a bullish triangle when you add the recent impulse to it it makes the count start like this :
if lower support break. We gonna retrace entirely to lower support :
The breakout looks like a manipulated futures event for sucking in buyers. Seen this happen before with BTC. If the breakout were valid, BTC would be up 20% already.
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@trade_dog_21, price still hold. breakout happened at the end of the 11th swing (WXYXZ). I see nothing manipulated.. You cant make this statement ' If the breakout were valid, BTC would be up 20% already.' since the breakout happened and exist ; it is valid. The only question is if we must consider this part of a major part. I took position at 6180 as i believed it was about to happen.
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@trade_dog_21, the volume spiked up and the end point correlate with alt charts count about the end of a corrective cycle like i said many time since august that we were at the bottom and approching major resistance to test the hypothesis of a new cycle. Many indicators backed the idea of rising volatility in regards of a major resistance test. Manipulation would be something out of the blue and a immediat sell off and full retracement if it would be only to suck up buyers. I tend to monitor indicators, chart pattern and wave. The amplitude of it was unexpected but the situation was expected