if history repeats itself with waves 1 & 2 we will end up at $42,999 for wave 3 before heading to $44,666 to complete wave 4 before the last wave 5 down to approximately $41,555.
Next update will be when I'm flipping long.
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After an ABC correction Amazon finished wave 2 at the 61.8 retracement. Amazon broke the wave 1 high and confirmed further bullish price action:
Minimum target for this impulse is around 3800. Main target between 161.8% & 176% extension. From there i expect a corrective movement (wave 4) before we can aim for prices above 4000!
I AM SEEING MANY WAVE COUNTS PREDICTING AN INCOMING 5TH WAVE!
FROM MY COUNT HOWEVER THIS IMPULSIVE MOVE HAS ENDED!
WAS THE CORRECTION TO 3148.33$ PART (A) OF AN (ABC) CORRECTION? PERHAPS A (WXY) RUNNING FLAT?
IS THIS THE THIRD WAVE OF AN IMPULSIVE MOVE DOWN?
STAY TUNED :)
There are two new CME gaps and BTC appears to be finishing the fifth impulse wave before an ABC correction. This makes sense since the correction would fill both CME gaps (BTC like to fill CME gaps pretty quickly after they are made before taking off again).
If there is a strong rejection around were we are now I will consider an ABC correction is in play at...
well guys BTC seems not completed its 5waves uptrend yet. so if the chart I draw is validate the last wave (5) should act like that after the last ABC correction(the green one) done at the red box area.
I am waiting to see if it is true . let me know if U agree or disagree.
wish the best luck :)
I think we are on a possible reversal zone.
BTC is testing the neckline + fib retracement 0.50.
Also if we stay above the neckline we can start a new wave.
If wave 4 remains outside wave 1 teritory then we might go up and retest the last higher high.
USDJPY has continuously been supplied by 105.000 for quite sometime now, every bounce that has came from 105.000 has produced a Lower High in price.
The 109.709 level is the high close of 2019, and has consistently held price below. I believe this big bullish push back into the high this week could be a very big "Fakeout".
**Multiple Confluence levels** 5 Wave...
EURUSD could move a tad higher to complete minor wave 4 near 1.1145 before continuing lower. The said level is the 1.618% FE of wave 1/2 correction and also the 50% FR of minor waves 2/3.
Look for a valid breakout below 1.099 for medium-terms shorts but keep a cautious eye on short-term longs as the correction could end soon.
Should prices move above 1.1194 it...
The rally has posted an exhaustion count on the weekly chart.
Broke the sequence of 6 negative daily performances.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
A break of bespoke support at 2799, and the move lower is already underway.
The bias remains mildly bullish but there is scope...
I guess if we won't just break out from this falling channel, we will continue our correction in its final wave with lows around 9200. The correction will go on and even might turn into a downtrend in case we break ~9000.
Bitcoin is nearing the 9K resistance while the crowd is celebrating a little too early for a 10K target. The average retail sentiment went from predominantly bearish (everyone calling for 4500) to bullish (everyone is calling for 10K or higher) in just a couple of weeks. Are you new to investing in Bitcoin? Perhaps you got sucked in from all the nonsensical hype...
There is a clear wave count here with bearish divergence and normal wave extensions to back up the argument that a large drop down to at least wave (4) will occur now. Wave 3 was between 1 and 1.618 times the length of wave 1. Thus, wave 3 was the extended wave and so wave 5 is likely to be less than 1 x the length of wave 1. So far, wave 5 is around 0.786 times...