Hi Everyone My name is Schyler, I'm a full time Elliott Wave Trader in the crypto markets. Liking the chart helps support the channel growth. Thank you and enjoy. Bitcoin Elliott Wave Analysis: This is a short to mid term analysis that is looking for long entries. 3 counts on the table Count 1: Purple ABC expanded/running flat Count 2: Pink Impulse...
Bitcoin is currently on its 3rd straight bullish 1W candle. That's right (even though early into the current weekly candle), we are rising for 3 weeks in a row. This move is happening straight after the $3900 flash crash and is taking a lot of traders by surprise. But should it? On this study I will show you why is shouldn't be quite as shocking, based on the...
Ignore the recent sell-off caused by the "Coronavirus liquidation effect" across all non-liquid asset classes. Bitcoin found support on the 1W MA300 (black line) and rebounded. Most likely we will be viewing this in the future as "non-technical noise" as Bitcoin continues to make Bull Cycle after Bull Cycle and new All Time Highs. At the moment the price action...
Bitcoin has created a Channel Up formation on the 4H chart and is currently neutral, supported on the Higher Low it made at 5670 but at the same time limited below the 6940 Resistance made by the Higher High on March 20th. ** The March 01 - 07 fractal ** So far it has successfully passed the hurdle of the MA50 where as I said above it made the Higher Low of...
Not even 1 week passed since my article on the 1W MA300 and why that bounce (and the candle's wick) could be key for Bitcoin's future. The Buy Zone which on the 1W chart consisted of the MA200 and MA300, on the 1D chart is made of the MA1000 (red trend line) and the MA1400 (black trend line). I have mentioned that on previous studies but it has now become more...
1. If you are new to trading, learn how to trade support & resistance of triangles on the Daily & Hourly time frame. The time it will take BTC to retest the BUY zones I've marked, will be more than enough time for you to learn & practice how to be ready for the retest of the areas I've marked. 2. Realize that BTC has retested & held above the green triangular...
I will keep the analysis short this time as the fractal is pretty obvious. I am comparing last week's aggressive sell-off with the one in November/ December 2018. *2018* - The sell-off started exactly in mid-November while the price was trading below the 1D MA50. - Stage 1 was the first bearish leg that took a short pause with a consolidation (first circle on...
Nothing fancy here just a simple comparison of the recent price action with June 2016, when LTCBTC also nose dived after a failed Golden Cross on the 1D chart. The result then was a nearly -70% drop. If the pattern is repeated then the price can decline as low as 0.0025.
Pattern: Breakdown of parabolic rise. Signal: Bullish as the price has almost made a 0.618 Fibonacci retracement. Target: 0.02600.
Following the strong pull back of the recent days (to the 0.618 Fibonacci retracement as explained on this study/ link ), I am making a quick update on the new pattern that is emerging on Bitcoin: the Inverse Head and Shoulders. This is also in response to the idea presented by BTSE exchange on the symmetry of the Channel Down: I want to tackle BTSE's...
Bitcoin completed the much needed pull back from the $10500 top to the $8500 0.5 Fibonacci retracement . On this study I am looking at possibilities of what it could do next based on the long term Channel it has been trading in since the December 2018 market bottom. ** Similarities with early 2019 ** Initially I want to point out that I am using the help of...
I received a lot of enthusiasm by the community with my latest series of Fibonacci cycles and thought to go this a step further and plot & compare Bitcoin's current (2018-2020) and former (2014-2016) cycle before the two Halving events (2nd and 3rd). The goal is to determine which phase of the Cycle we are now based on the pre-Halving price action of the...
Ripple will get its chance to shine. There are few who argue the opposite. In this quick idea though I show why this time is not quite there yet. I have scaled XRP's timeline based on Bitcoin's Cycle from top to bottom. BTC's bottom of the previous Bear Cycle was mid December 2018 and the Cycle before on early January 2015. XRP's 2015/ 2016 consolidation/...
First of all, don't be alarmed by the current selling. It is a technical and much necessary short term correction that will help in the buying accumulation process. I have clearly stated on the idea below that the 2020 rise was parabolic and at some point would break and pull back to its mid Fibonacci levels: Secondly, you should be no strangers to the chart...
New week - new CME Gap that needs to be filled. This time it is a gap of 2%. Last two gaps were filled: 1st one on a first day 2nd - during a week Let's see how it goes this time. And do not forget that gap trading can be dangerous because you can get a move to other direction, always limit your losses. Information is just for educational purposes, never...
This one is for the believers. Not for the average person who said in 2010 "Bitcoin is at $0.05 it can't make a $1 move in a single day, are you crazy?" or in 2011 " Bitcoin at $2 and you think it can move $100 in ONE day??" or in 2015 "We are now at $200, which is 1000 below the $1200 All Time High and you are telling ME that Bitcoin can move $1000 in ONE day??"....
Pattern: Downward break-out of parabola on 1D. Signal: Bullish once the price approaches the 0.500 Fibonacci retracement. Target: 18.500.
I see a lot of Bitcoin buyers/ holders panic with the current 2-day pull back. They shouldn't. This (so far minor) decline is far from alarming. It is still technical so far within the range of the 1D uptrend but now outside of the 1D Channel Up. This Channel Up is not illustrated on the current chart as I've chosen the 1W time frame to best explain the current...