elliott wave analysis of bitcoin on daily timeframe
the latest move/wave does not look like an impulsive move but rather a corrective move
as a result, the idea of bear continuation and new bottom occurrence probability shall not be ignored.
If it is the case, then we may assume that the market might be in a accumulation phase for extended period of time (as...
elliott wave analysis of bitcon on daily timeframe
looking at the chart there could be a possible zigzag formation (5-3-5 structure), labeled with red ABC on the chart
currently, in lower degree abc correction is in play and wave B on higher timeframe.
depending on abc formation, here is what to be expected
- if abc is forming zigzag formation then we may...
assuming elliott wave 4 is not completed, then
the current market view is likely to be in redistribution phase and price action can take place as in the wyckoff redistribution schematic
further details available on the chart
alternatively, if elliott wave 4 is already completed then we are already in wave 5 and heading towards new ath
please note that this...
we are in correction phase, where the price takes a long time to do almost absolutely nothing! especially for the most part, double threes and triple threes are horizontal in character
correction patterns are usually hard to track, they do follow rules but yet not so easy to identify what is forming in advance.
the question is "what is the correction pattern...
Volume is one piece of information that is often neglected, however, learning to interpret volume brings many advantages and could be of tremendous help when it comes to analyzing the markets. In addition to technicians, fundamental investors also take notice of the numbers of shares traded for a given security.
Volume analysis can help to confirm the existence,...
An experimental application of feedback concept common in Electronic Engineering, attempting to present additional value/insight to the Indicators
The above chart presents example of negative and positive feedback applied on momentum adjusted moving average (MaMA) and rate of return (RoR).
Feedback concept in Electronic Engineering
Negative feedback (or...
Positive signals shows up
Bounced from historical trend line (historical line was crossed a month ago and now the test passed)
Bounced from ma100 and ma200
Bounced from Keltner Cannels lower cloud
Probality calculated based on beyas theorem shows positive signs of bullish probable moves (still in bear area but increasing)
p-macd, which calculates relationship...
Short indication 1 : colored directional movment index on the top of the chart is yelow which indicates non-existend trend and the arrow points down which is showing that the negative direction is stronger.
Short indication 2 : probability line as shown with bayes indicator is right at %50 level which is infact equilibrium of probable move up or down. But the...
the trend strength can keep the price walking the bands trough the upper cloud of Bollinger bands.
p-macd (price and ma convergence/divergence) is positive and momentum is increasing which supports the above idea
Colored DMI indicates no stenght at the major historical support trendl line (orange line), being tested frequantly since May 07 and few times in the past.
PS : Colored DMI - customized interpratation of ADX +DI-DI, or shortly DMI
Momentum is squuezed
When looking of the formations it is defenetly rising wedge (purple lines), a sign for down trend ,
The price...
RSI Divergence is observed and RSI Value is below 50 and may decrease to even lower
Colored Directional Movement Indicator
-shows that trend already reversed few bars before
-but the strength of the trend slows down and does not really give any idea of the direction of the trend for the moment (even if negative direction index > positive direction index for...
there are a lot of signs of an approaching breakout for litecoin
-bollinger bands indicates low volatility for quite long duration
-as colored directonal movement indicates no trend currently at all
-ichimoko base colored super trend is heading up, price is within the cloud and conversion line above base line
rsi is above 50
trend remain above 50 and just below...
