While we wait for BTC to make up its mind on where its headed, lets take a look at ETH.
From here it appears there is no clear resistance until ~256 level.
Should be interesting to see if it makes it there, and if we continue through resistance upward.
From the ashes of DETH.
With the most recent price action off of lows, we have pushed above the 200 D EMA.
We now see resistance sitting with the 200 D volatility adjusted moving average at ~5600$
We may be able to push through to this level, but this looks like a good area for a healthy retracement b/n the 0.382 and 0.618 ranges.
Most likely we find support ~4600-4800$ back around the...
BTC price has broken through the 200 W EMA.
We will have some twists and turns from here, but at this point I believe the bear market can be declared over.
200 SMA now sits around ~$3450 which we continue to monitor as a remaining 'final' support.
Enjoy the beginning of the ride.
Here we lay out a possible bullish count off the potential bottom action from previous 3-4 months.
The count works off a (possible) failed wave (v) ending our bear market.
We have completed wave (1)/(2) and look to be coming to an end for 1/2 of (3).
If this scenario plays out I expect (3) to finally bring us to the magnet, 200D EMA.
We will then...
I am going to try to continue to follow this move in BTC regularly.
Here we are looking for a break over horizontal resistance ( blue ray on both charts ).
Using Bitstamp BTCUSD price this resistance is sitting around $4077.
Additionally, looking at Okcoin 3M BTCUSD futures this resistance is sitting at $3977 ( potentially already breaking ).
If we can get...
Another weekly look at potential EW count of LTC's current downtrend.
In this iteration, I label the major points W-X-Y as opposed to A-B-C in my previous post.
The major count re-labeling is negligible here, and merely up to interpretation of the analyst.
Importantly, we observe LTC quickly approaching its 200 Day EMA - price action in this area should allow us...
As prices have achieved new highs we have the grounds to declare a possible intermediate top.
Divergences continue on RSI and EWO - note the clear divs between 3 of (3) and 5 of (3), and again between (3) of 3 circle and (5) of 3 circle.
Change in direction of volume adds evidence to intermediate top as we see volume increase through (3) and steadily decline as...
Continued divergence on RSI and additional divergence forming on EWO signaling the end of wave.
Look for downward break of wedge for confirmation.
Box highlights possible price targets. May go lower based on extreme price action of late.
Based on the size and strength of recent price movement it seems that we have completed a wave three of some degree. Additionally, a bear divergence has formed on the RSI signaling the end of a move; the width of the EWO tells us it was most likely a three. Here it has been labeled using (3).
Price requirements for (4) have been met, but there is a good chance to...
"Nesting occurs when a market produces a series of five wave impulse moves in the direction of the trend, but the waves clearly overlap.This certainly fails to comply with normal Elliott Wave requirements. However, instead of considering the action a failure or part of another correction, the proper count would be a series of 1-2-1-2's. Eventually, a powerful...
LTC has been a weird one chart wise up through this time.
Bollinger Band analysis seems to provide the clearest insight into a potential pop.
Head fake - Bearish candles hit bottom BB and found support to bounce from (Pink Box)
BBW is at a lower extreme (Blue Box) - the tightening of the bands should open up and give way to upward movement
Look for weekly...
BTC has been wild lately.
Here we have a possible continuation pattern - pretty straight forward.
Breakout will be above point (D) at ~5273.33CNY / Confirmation above (B) at ~5378.22CNY
The pattern will be invalidated with a break below (C) ~5060.37CNY