D1 - after the bullish impulsive structure i expect to see second wave down.
H4 - assumption here is that we are inside a pullback move (the up move). Looking for signs that this move is over and then i will start scanning for possible sell entries.
We saw the huge Doge move, Elliot Wave blow off through the roof,
Next step is to find loading zone,
And we can see it appears to be at perfect ABC correction (white line), after we touch it again, get ready to form new 1st wave of Elliot action
Etherium just did a -61% correction to the fib 0.618 zone and bounced up 60%! Here, in the 6H, it met resistance at the lower 55EMA threshold (blue line), signaling that it will NOT make a move to break the ATH ($4.3k), before making a lower-low first.
Therefore, ETH may be in an ABC consolidation.
Look for possible support ~$2.1K. A bounce here could go as high...
We found some resistance around the 2900 usd area which is where the 34 Daily EMA is located and also the fib level of 55% from the swing lows. I am expecting an ABC move to the upside and the area between 3500-4000 usd area.
This is just an indication, please check my other analysis below and also other crypto traders in this platform so you get a full picture...
I have decided to pull out of being long for the time being - seems like too much overhead
supply and not enough legs on this bear bounce, another leg down in strong capitulation style
should clear the weak hands out before the bull run could resume....BEWARE IT COULD BE
Its done a AB but no C leg down and it will probably extend further...
On the 4 Hourly chart, we have created a bullish divergence on the RSI. We have had a nice ABC correction after a nice pump and I now expect us to continue pumping and break out of this falling wedge. That lower 60 cent area would have been a great entry zone for anyone new to Skale. I have a good feeling about this coin.
USDCAD showing there is a pattern having its A and B leg completed, now moving for its C leg up. There is an immediate resistance at the confluence point of its channel shown in the chart of 2 hr.
What do you all think?
I think we are going to test 1762 - 1790 area with a "zigzag" ABC wave (5,3,5), inside a bigger C or E wave.
So the idea would be to long on the B completition beetween 1713 and 1699 (ideally the best would be around 1706). Below 1699 probably this count is not a valid prediction, so SL can be tight and we will have to look to something else in terms of...
On EURJPY, price has invalidated our previous analysis by almost reaching the top of the A-corrective wave, so here are our 2 possible scenarios:
1. Up then Down: Price can reach the resistance (130) then dive downward and break the down trendline.
2. Wave Respect: Price can still validate our previous analysis if the A-wave isn't reached by the B-wave and...
BTC has successfully retraced 61.8% in the corrective waves (ABC) and we can consider this phase to be done. An overview on the H4 timeframe will tell us that BTC is in its 3rd wave (bullish) and longest. Round numbers are our next targets. Will it be able to reach the 60K by the end of the week ? Supply and Demand will tell, that's why you should fasten your...