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Correctionwave

Bitcoin correction wave is near to end up?Hello Hello Hello, It seems it's time for ending up the correction wave! but not be surprised by how fast it happened as we have two forms of corrective waves: 1- price correction and 2- time correction. I suggested that the latest impulse wave might be in the form of a channel or a wedge, however, both of them have become true, all depend on your view. Now it's time for forming a correction wave in which it looks like a horizontal movement, as buying power is still high and some indecisive candlestick patterns are appearing in the market. For the sake of simplicity, I draw two feasible routes for the future target (follow the blue and green lines). One suggestion for you, don't be afraid and buy step by step. And one more thing, as the market is brutal and surprising if the price suddenly goes under 45K, just stop buying and be aware of a really deep correction is on the way! but there is no room for panic because this is Bitcoin and soon or later it will come back up again to the moon. God bless you,
BITSTAMP:BTCUSD
by RoohSur
Double Top before the BiG DroP?!?This flashcrash will pivot soon IMO. Statistic: Most ATH occur in September. Did in 2020. Friday Triple Witching culmination? NQ has been bearish but acts more like consolidation at support, making higher lows. NQ is >25% of SPX market cap. We have seen time and again how the bulls grab every dip and this one likely to be perceived as just another opportunity. Do not get caught short when it bounces. Expect rally to double top, likely nominal ATH on about Tues 7 Sep. Indices are all oversold. Notice how QQQ tanked more on Tuesday? RTY has already tested 200 MDA twice, pop likely IMO. Would not go LONG until MONDAY, will dangle a few shorts until then. See short ideas attached. End game plays IMO. This WILL bounce, either a countertrend wave or another mad bull runup to new ATH, either way puts, inverse ETFs just melt. Selling VPS for credit, using credit to buy calls one way to play bounce. Or buy ETFs fgs. All risky, all scary. Not recommended for the faint of heart. DEFINITELY NOT ADVICE! GLTA!
TVC:SPXLong
by DaddySawbucks
6
EGLDUSD - Again Triangle...again correctionEGLD is a crypto that, like other ones is developing a 5 wave triangle after which will fall to end the corrective wave of the chart. If cryptocurrency has on its mind to settle better in world's economy, then all these correction give us the second chance to enter the crypto market on a lower price Thanks to Elliott Wave, I managed to set possible goals for the price to hit after the triangle is forming. On my chart, the coloured letters represent the main wave counting, and gray ones represent an alternative counting way. On the long term these counts meet in the same goal, but for now, there is no sure entrance into a trade. We need to wait a bit in order to enter the temporary bear market, and then make a reversal to bulls
BITFINEX:EGLDUSD
by wescapist
OMG/USDT - potential 90% setupHello, traders! After the correction of growth, the price of OMG returned to the active trading range of $4.09-$5.48 At the moment, the buyers showed initiative and the price started an upward movement. The buyers were stopped by the local resistance level of $6.94 It is possible to connect to the buyers on the correction in the range of $5.48-$5.78 It is advisable to place a stop loss below the price level of $4.48 Target correction of downward movement will be the levels : $6,94 $7,90 $8,78 $9,56 $10,52 If the first target is hit, the stop loss should be moved to $5.06 Good luck and watch out for the market P.S. This is an educational analysis that shall not be considered a financial advice
OLong
by UnknownUnicorn10064030
BTC/USD - Update - 24.05 - Uncertainty rulesHello, traders! Starting from $59600 after Elon Musk's tweet, the cryptocurrency market followed the "eco-friendly" trend. Unfortunately, the trend turned out to be descending. Further, news from China contributed to the trend. First, the introduction of restrictions on operations with cryptocurrencies. Then news about the ban on "not eco-friendly mining". The sales were stopped by the buyers' control zone between the levels of $31000 - $37800. At the moment, buyers are making an attempt to pass the local resistance at $37800 and bring the price back above the main uptrend line. In the visible trading volume, we can see the $37800 - $47200 zone, where the trading volume is the smallest. This is the area where we should expect to see trading in the coming weeks. The sellers' control zone is located between the levels of $41600 and $47200. In case the price reaches this zone, we might see a second reaction from the sellers. In case the price goes above $39800, there may be a price squeeze between the sellers' and buyers' control zones, and the two trend lines: downward and upward. After that, the exit to the stronger trend will follow. The situation in the market is extremely unstable. Take care of your deposits and do not forget about risk management Good luck and watch out for the market P.S. This is an educational analysis that shall not be considered as financial advice
BITSTAMP:BTCUSD
by UnknownUnicorn10064030
CADJPY | Perspective for the new week | Follow-UpWith over 800pips run since my last publication (see link below for reference purposes); It appears we are at a juncture in the market where a trading opportunity is building up as structures insinuates a reversal. The CADJPY pair appears to be losing its bullish strength since hitting her peak @ Y 90.600 which was followed by Lower lows that culminated in a successful Breakdown of Key level I @ Y90.350 during last week trading session. However, this bearish potential seems limited at the time being as we still need to keep our fingers crossed for further confirmations that will trigger selling opportunity ( a possible correction phase in anticipation of a rally continuation). Tendency: Downtrend ( Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. The Bullish Trendline indicated on the chart has been a significant factor in deciding the prevailing direction of price action since last month. ii. Pivot point Ito IV emphasizes a visual representation of price action respecting a support line. iii. It is observed that the thrust from Pivot IV appear to have lost momentum which has been consistent with the pattern in the past as the price rejects Y90.500 during last week trading session. iv. The rejection of Y90.500 give rise to the appearance of the Double Top pattern - an extremely bearish technical reversal pattern that forms after the price reaches a peak two consecutive times with a moderate decline between the two highs. v. This been said, I shall be looking forward to a Breakdown/Retest of Trendline which shall also coincide with Breakdown of Neckline (Key level II) @ Y90.000 (a psychological level) for confirmation in the coming week(s). vi. CAUTION: A Breakout/Retest of Y90.350 shall render this set-up invalid with the possibility of rally positive. Please note that we are looking for an opportunity for Bearish momentum below Trendline... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 2 to 6 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
Is DOGE still healthy?The previous analysis of retracements says YES. Previous retracements was -79% and -70% , and in extremely high gains, extreme pullabacks are to be expected and are normal. The major trendline is intact and will still be intact even with a 70% correction. Higher highs and higher lows will be intact also. Since volume is not increasing on the downside, that is a good sign. I believe the next major volume peak will be near the price of $1. Price can consolidate in the range 0.33-0.6 for a couple of months before making a new all-time high.
BINANCE:DOGEUSDLong
by ZoharCho
1
First Idea - unexperienced but trying to learnHope you guys don't mind me sharing an "unexperienced" trader idea. I'm trying to learn and I saw this pattern emerge across multiple crypto if this plays out. We don't have much support to begin with but apparently a correction was needed - exaggerated by huge liquidation counts, $DOGE leader of crazy and FUD around social media. I still believe that this is a decent time to invest and adjust his own trading strategy - capitalise on wins - maybe hold bags which you are still proud of and ride the next wave up. Preferably with an Elliot Wave. What do you think which entry makes the most sense. Catching the knife seems to me risky right now. Cheers guys.
by tomsiwik