Given our ground zero on 22 June 2021 at 28700 USD, Elliott waves on 1D suggest that 42000 USD was our correction point A.
Based on that it is fair to assume that point B would be between 38.2-62.8% Fib that derives from ATH impulse to point A.
However, I would consider to go Short at 50% Fib, around 55500 USD area. This where the price can be expected to...
Working on an interesting project that will identify future price pivots. Filtering the signal is the most important part and that continues to be a work in progress. You'll see different colored lines, and the width of those lines vary. See notes below.
Notes:
Larger Lines tend to be more signficant.
Oftentimes the larger the space between verticals can indicate...
Based on the formation of the triangle it is plausible to expect the price to go to its resistance level in light red colour. The height of triangle's formation also supports the distance of the price action. Also, the last 3 candles including the one today on 12H show a local trend reversal, which also support current Long.
Once the price reaches the green...
Yesterday's candle on 1D closed as a pin bar and RVI broke its resistance line and reached 50. Provided that RSI and MACD bounce off their support lines, then it it plausible to expect the price to follow its path as presented on my chart. This is a potential price action for a local correction that may take up to couple of days to complete. The green rectangle...
