It looks like first 5 waves down of wave A are over in the upcoming zigzag structure. Next we could see 3 waves up in the countertrend correction, wave B. It could reach between 50% and 78.6% of wave A. Then there is a second leg of 5 waves down of wave C. Let us see how it goes.
I measured bearish impulse by placing 0.236 right below ABCs and we can see how price retraced around 0.618, at this point I expect to sell the breakout all the way to previous support where -0.27 is, with Trend-Based Fib Extension I confirmed area with 1.618 around -0.27. MACD has a strong resistance at top, which confirms bearish impulse. Good Trading. -4h Chart
Breakout out of the channel needed to confirm B and C. otherwise immidiate drop to 9.1k (previous resistance) before making full bullrun.
Hey Everyone! I am back with another Idea/chart. This time looking again at Bitcoin. On chart you can see clear Elliott wawe in uptrend with a ABC correction. It seems like the wawe is completed although the C could be A its a 50/50. You can also see 3 Elliott wawes with ABC correction that just confirms the whole Wawe. The last 5 Wawe is confirmed even with...
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...
Here is almost perfect example of a high prob. technical setup for buy: -End of correction abc elliot wave -Bounce from broken TL (R become S)
Ethereum suffered a perfect ABC correction and right now we can expect another 12345 bullish wave. Ethereum is using MA100 as support and Stoch RSI is turning slowly up in 1D chart.
First we got a pretty good resistance with a double top, which means we have a possible 2618 trade: - double top - measure impulse - wait for retracement at 0.618 Double top + 0.618 = 2618 technique I measured bearish impulse so I could confirm areas with some Support & Resistance and we can see how each pattern or consolidation was formed around those areas, even...
Here i see an inverted H&S pattern with a impulsive 5 wave Elliott wave completing the head, and an ABC correction starting the right shoulder. I Believe this ABC will once completed, cause a wave 1 completing the right shoulder, wave 2 will be short lived with completion of the H&S pattern which will then be the wave 3 of the next 5 wave impulsive Elliott Pattern.
As you can see, all time btc bounced with 61.80% fibo lvl . So lets see. I think that it will be 9800 - 14900. Good luck!
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...
2015 was a wave 4, complex and corrective. My "possible wave 5" came to fruition. WE have down a wave 1, complex and corrective (to the bullish trend) down. Since the recent top, we have done a wave 1 down with sell volume of a massive scale, and an ABC (simple and corrective) I think we could e coming up on a 3rd wave down. We should start wave 3 by...
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...
Bitcoin might have just completed an ABC correction in the form of a rising wedge. Wave A is a leading diagonal in the shape of a rising wedge, so subwaves 4 and 1 can overlap. Wave C seems to be truncated and is a 0.5 Extension of Wave A. The RSI is showing strong resistance at 70 and the MACD is showing bearish divergence on the histogram. The alternate wave...
The consolidation within wave B could be over as wave c in wave B hit between 1 and 1.272 of the wave a distance. It shaped the bear flag pattern. Now the second leg of downside correction is underway which could hit at least area of 7300 where C=A.
AUDJPY Seems to be having a breakout of trend. We are looking for a short position once a breakout has occurred and previous resistance has been retested. An ABC pattern should be formed and we will be entering at the B and riding it down.
Bitcoin is showing some bearish signs on the RSI and MACD. We may get another low. That would mean that this bounce is a dead cat bounce and an ABC correction. Wave 5 could bring us to sub 6k ranges. So what would the best play be? For swing traders and day traders, this could be an opportunity to lock in some profits. I would back in on confirmation that the up...
Ethereum is completing the final wave of an ABC correction. In fact, it's on the 5th subwave of wave C. It is only a matter of time before Ethereum starts impulsing. In addition, we see bullish divergence, and the volume picking up. This correction is only temporary, and we need to take a look at the big picture to see how high Ethereum can rise to. We should...