Bitcoin is in the middle of the bull market cycle, but where exactly? It's necessary to do an Elliott Wave technical analysis to see the full map, as the market always moves in waves. We are almost at the end of the major wave (3), and in summer 2024, we are ready to make a significant corrective ABC pattern. We probably all know that summers are usually boring...
The price of Bitcoin is preparing for a final drop to the downside, to 57k per my calculations! The price is still inside this bullish flag formation, and we still need to complete the ABC corrective pattern from the Elliott Wave perspective. At this point, I cannot be bullish at all, just be patient and wait for 57k to be hit before buying BTC! It's also...
As per patterns and wave counts ... IEX is sure to give breakout !!!
FX:EURJPY is in an uptrend phase. Regarding what is happening on the chart, we can assume that the bullish trend will continue in the medium term. The market is redeeming the strong drop that happened at the end of 2023 on the fundamental background in a few months. The Japanese Yen is weakening strongly on the back of weak regulation by the Central Bank of...
TSLA is not out of the woods yet. The weekly chart shows that the RSI of the Jan 2023 low needs to be taken out with one more low to complete the large WXY structure... at least down to the 110 (?) area. The strong bounce over the past couple of days is a relief bounce to correct the Dec 2023 down cycle. The bounce may reach 0.5 retracement of that cycle,...
Gold looks extremely bullish in the short-term and also in the long-term. 5000 USD or 10000 USSD in the next few years is definitely very likely, but right now let's focus on the short-term price action. We can see that GOLD is in a strong uptrend, and we can use a simple trendline tool to measure its strength. The price respects the blue trendline pretty...
Great R/R on this entry I like the potential for a typical "flat correction" here on a larger fractal wave, which i have labelled WXY and its subwaves all good enough to expect a completed 5 wave move (impulse) lower here, highlighted by the pink wave count.
FX:USDJPY does not pay attention to the behavior of the American dollar. The focus is on the Japanese yen. The currency is in a strong sell-off and continues to get cheaper, while a beautiful set-up is forming on the chart. Rising triangle in the global perspective and in the short term: on D1, on H4 and on H1. A beautiful situation, when the chart lives its...
📉Hi Traders, Investors and Speculators of Charts📈 Dogecoin was one of my TOP altcoins to watch for 2024. (Find the others here): The DOGE fractal I've been following has played out extremely well, and so I will continue to follow this fractal: Since we have now completed Elliot Wave 2-3, we are seeing the corrective phase of 3-4. This means we have yet...
© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M. The broader context suggests that gold has likely completed the iv-blue wave, and the v-blue wave is now unfolding to continue pushing higher. The short-term outlook describes in detail the iv-blue wave, which unfolded in the form of a Flat correction and appears to have concluded. Now is the time for...
This scenario assumes that wave C primary degree not yet finished and we're just starting wave 5 of C. This is my main scenario and I'm holding shorts with SL: 2348 and TP: 2280.
Showing what should be a clear 5 wave move coming in to the downside here. (pink pen) The yellow pen is what would be expected if we get a slightly higher retracement or if the market is going up now long term. I think we can all agree Its good to manage risk properly and have clear ideas on both sides of the market you're trading (buy and sell) and not have a...
Wave 1 of 5 is finished as Leading Diagonal. Now wave 2 is ongoing. Upon break of top of wave 1 I'm going long. SL is 2305 TP is 2399
Wave 2 of 5 to the downside is complete. Price has broken below corrective channel. Signal bar is an hourly doji and the breakout below the bar gives me the entry to the downside. SL is 2348 TP is 2280 TP may not be reached, I'll be monitoring development of the trade and close accordingly. At around 2280, I'm planning to go long.
From my opinion and my analysis, I think now bitcoin is in the corrective wave of wave 2 in term of strong B and I think bitcoin is going to make Irregular Failure Flat or Running Flat for make the 3rd very extionsion wave. WHY I think it would be Irregular Failure Flat or Running Flat, from CCI indicator it happened Hidden Bullish Divergence so it mean the wave...
If you read the original T.V. Minute, "Mid-Term outlook," referenced below, you know we have stuck to the path, UNTIL recently, where we seem to be caught in a correction that just will not end. I am counting this correction as the Minute ((ii)), and you can see the count highlighted in the chart. My thought is that we have simply not had a single clear 5-wave...
I have done a lot of DXY posts, and if you read many of them, you have read my historic observations that Risk (Indices, Equities, etc) typically tops on a DXY wave 2. Not typically the Primary, but often the Minor, or even Minute waves 2...since a deep wave 2 can be confusing as heck to anyone who believes sniffing the dollar out is essential to successful risk...
Atomera, which has been in a downtrend since February 2021, may go to a price range of 2.86-3.69 with the Elliot WXYXZ correction if there are no significant progress in 2024. My guess is that we can see these prices in the first half of 2024.