The little brother of bitcoin managed to break above the top of wave (i) too, and the chart is almost identical as of now. Like I said in bitcoin, we expect that a wave (c) will start in the next days and we will be curious if an expanded flat or a running flat will unfold. Please note that we are already invested in Ethereum since the 15th of June, back then...
Crude fails to break the upper side of a triangle. Nice bearish reversal Daily candle too, similar to ones in the past, calling bears
Update to my last idea about Bitcoin. Price goes under demand area and closed below it which is a great confirmation for my bearish view
The invalidation of the previous count has turned my perspective bearish for APE. The alternative would be a leading diagonal, but while we are inside and channel and below 4.50, the higher probability is another lower low below 2.618
We are trading in a wave (C) phase of a Zig-Zag correction pattern. Often times waves (A) and (C) are equal so we can use that idea to set our target. We can expect wave (C) to be a very slow and choppy price action to complete the (C) wave.
Bitcoin is in the same price level as we were in June 22, and I´m still not convinced that we won´t see another lower low. There is a valid bullish count, but my primary scenario is that we are finishing gray wave C of an expanded flat, which could take us all the way down to at least 15k.
On a today's live stream, we discussed WTI Oil. The price formed a tiny double top pattern on 1H time frame, approaching a wide supply cluster. Its neckline was broken. I expect a bearish continuation to 70.9 now. ❤️Please, support my work with like, thank you!❤️
Hi trader, following the elliott wave has finished running wave C I will sell until 1800
After breaking down through a rising wedge pattern on the 4-hour, daily, and weekly charts, it is almost certain that the S&P 500 is heading down hard. Therefore, I have created a possible wave structure based on the most important data in the last 14 months, including Powell's testimony and speech, CPI data, and FOMC meeting/rate decision time. Inflation is still...
Bank of America (BAC) shows a lower low bearish sequence from 1.10.2022 high favoring further downside in the stock. Near term, cycle from 2.8.2023 high is in progress as a 5 waves Elliott Wave impulse. Down from 2.8.2023 high, wave 1 ended at 33 and rally in wave 2 ended at 34.56 as the 1 hour chart below shows. The stock resumes lower in wave 3 with internal...
Start the wave 3 when wave C correction compete. If reach the 4.8 it's good Level for long position.
Looking at the weekly, we can see that the pump on the last few days doesn't mean much on a larger picture. There is major resistance at 0.035 which has held strong over the last 12 months, and a consolidation triangle was formed. Triangles are more often continuation patterns, so the higher probability is for a continuation to the downside. Right now bulls...
VET will make an inverse head & shoulders on higher timeframes with a big wave 3 and a short wave 4. After that whales will push this to a blow-off top wave 5 to confuse retailers who sold between 1-3$ to create more FOMO.
Gold sharply rose from 1804 to as high as 1914 mitigating the larger Weekly Order Block. There might be though an opportunity to sell if price misbehaves on the range 1919-1927 and a potential 4:1 RRR with a risk invalidation above 1959 targeting 1765 which was the extreme of the previous Wave (B) of last Impulsive Wave A. Disclaimer: Elliott Wave Analysis is...
Working through the bounce. Precious metals rallied on the SVB fallout. Perhaps, they should decline on positive news about FED preventing collapse while staying determined to drive rates higher.
If I were following oil only I would have been short by now and counting 3rd wave down. Gasoil makes me suspect that another strong bounce is due despite all the news. I simplified the USOIL count. The outlook for wave (c) is very speculative as I can only suspect it at this point. There are no obvious signs of the expected move. And the news are very bearish...
Potential EW4 Support at 1.05214/1.04819 Support at 100 moving average
#BTCUSDT #ShaneElliottWave #Shaneliot BTCUSDT || Elliott Main wave count || 14 Mar, 2023 (UTC-8) --- Elliott Wave Analysis by: Shane Elliott Wave (Shaneliot) Hello traders, That's my wave count for: BTCUSDT Trading strategies: Neutral Timeframe Analysis: 4H Expect Main Elliott Mode: Motive wave Expect Main Structure: Impulse Position: First Wave (Light pink-...