ETH is currently undergoing wave 4 (correction) that was expected in my previous post. Following this correction, there is a possibility for a 3rd actionary wave (impulse sub-wave 5), which might encounter heavy resistance from the long-term downtrend. The correction is likely complete above the 910 support level (marked by the olive line, 0.5 fib), which is...
We are awaiting a break with volume of the noted trendline. RSI is diverging but until RSI starts an uptrend and price confirms the change, the bears are still in control. Price has retraced to the 78% level. An aggressive trader could enter here and set stop loss at the bottom of the small impulse wave. A conservative trader would wait for confirmation of a break...
In Elliot wave, corrections are often in a channel with multiple overlapping waves. The rule states that these waves will eventually be completely retraced and that price will eventually go above the previous impulse wave. Assuming this is a second wave correction, second waves often retrace atleast 61.8% of the previous impulse wave( wave 1). This is the case...
bitcoin showing elliott impulse wave
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The b wave (apart of the ABC correction in the white lines) appears to be topping near 9000 before either breaking through resistance or moving on to the c wave of the correction. Following the c wave, we might see a bounce at around 7750, a support level formed earlier by the low from the impulse sub-wave iv. Failing to bounce before this level will expose lower...
The change in the paradigm in the Litecoin cryptocurrency is dictated by the invalidation of the long-term impulsive scenario, according to which I made analysis at smaller time intervals. Due to the overlap of many fundamental factors and the breaking of rules and guidelines subject to the Elliott wave theory (only three growth waves instead of five and a...
The price moved accurately like we predicted in the previous analysis. However, there is an opportunity to form H&S pattern as there wasn't sufficient volume to overcome the resistance of $9000. BTC is at a critical moment: right now the price can move in two scenarios with equal probabilities. It is below Ichimoku cloud and the red line is above the green line...
People lot smarter than me saying this - this is what I see. Merrill lynch two Fridays ago said correction is on.
On the 1-hour chart we can see that 5 Elliott impulse waves were followed by ABC correction waves pattern. After this Cup & Handle pattern is forming. Right now the price is above Ichimoku cloud moreover the green line is above the red line right in the place of handle formation. Moving averages and Stoch RSI indicates oversold zone. Combining with a strong...
Go head, work it girl!!!!!! I'm still holding my buy and I'm cool with whatever, but do you see how and why these patterns form?? And keep in mind that running triangle can become a bigger one with one more little move down to break trend line. But I bet there's a lot of sells with there stop above the high it made..........
The correction is now evolving into more complex and time-consuming one, so it might take some time now to complete it. Nevertheless, the upward trend remains intact as long as the level of 0.2282 is violated.
The current correction is the biggest in the entire Bitcoin history (arithmetic graph) and has already reached 71%. On the other hand, the rate managed to rebound from the blue trend line just above the target level at $ 5,540. The $ 300 was missing so that the price hit the Fibo cluster. From the Elliott wave theory perspective, the price tests the bottom trend...
ELLIOTT WAVE ANALYSIS: The bounce from 0.00007490 has the characteristics of an impulsive wave with a high 0.00012865. After this rally, the price falls in the ABC three-phase straight correction to the level of 61% Fibo at the level of 0.00008180. In addition, the price at the end of the downward wave draws a clear wedge, which is expected give an impulsive...
ELLIOTT WAVE TECHNICAL ANALYSIS: At a weekly interval, including larger cycles, it is difficult to distinguish pulse waves. Therefore, the current counter is based on wave increases (A), with a high at 29629 and a complex wave correction in the wave (B), with a low at 1604. Starting from this low, five impulse growth waves with a high at the level of 9,000 can...
FUNDAMENTAL BRIEF: The Government of India, although often not very positive about Bitcoin and other cryptocurrencies, such activities have not helped to curb their popularity. In his annual speech, Finance Minister Arun Jaitley again explained that the government intends to stop the use of digital currencies in India, claiming that the South Asian country does...
As you can see in the chart, i think that the third correction wave has not completed yet. So the blasting effect of bitcoin (as well as the market cap) can be delayed to the summer. Nevertheless, when we tested the bottom, we will make a little trip with a nice and cute plane between red (support) and yellow (resistance) lines. After that we will reach the...
I have been following BTC for roughly a year and have witnessed and personally held multiple positions during it's boom and even briefly held around the ATH at 18.3k before selling. When it comes to Tech Analysis I'm new and not seasoned like many of the other pros you will find around here, but despite this, I want to share my idea, hear out any criticism and...