BTC has either completed, or is nearing completion of a correction. (Possibly one more blip down) **Observations to note: - RSI has begun trending upward after touching oversold territory - We see confirmation on the oscillator, as StochRSI has also begun trending upwards on a breakout of oversold territory - Support @ 4H 200 EMA - **Looking to break back...
Possible inverse H&S on the 1H to take us back over 680. Not a definite - cautiously watching this one.
Here is a perspective to consider using Bollinger Bands as an indicator. Areas of importance: - Notice the massive weekly hidden bull divergence between price and BB width (green line) - Hidden divergence is a signaling of trend continuation; in this case, up. - Last time the BB Width broke over 0 line we made a strong bullish move (orange box) - BB...
Back to original count (see linked) . Price broke back over 200 EMA, and looks like it may be a larger 2 of the overall count. Looks to be within a C of A-B-C. Absolutely no interest in longing; I am admiring the opportunity to add more shorts this high. *Notes: - Move could be complete, but possible PO is highlighted. - Red horizontal ray is invalidation of...
If this is indeed the midst of a larger impulse... We are within 3 of 3 to some degree where 2 had been a double combination correction. This was mimicked nicely on lower TF's into current move. (See linked chart) Target as pictured - could easily over extend. *Note: -12/26 EMA unable to penetrate downard.
Sitting at 0.618 retrace of prior move. Daily StochRSI is surging and there is a 12/26 bullish cross developing on daily EMA.
See last post for detailed explanation of combination. (Linked) May have completed (D) of the triangle. Watch for (E) wave push to finish. Triangle may break early. *Note: - As stated in previous post, wave (E) can overthrow and retain its validity.
It is highly possible that we have entered our first impulse wave of a five-wave structure composing Wave C down. I am expecting the completed wave to take a run at the 4H 200 EMA, and possibly confirm a break. *Note: - Thick blue trend line follows price from .~.015 area - The 12/26 EMA cross near the ~.034 top (strong bearish signal) - (4) and (5) are rough...
Another rare double combination. More likely than not, this won't play out quite right. But we are in a corrective pattern of some nature, and I'm bored, so here's my brainstorm. *Note: Wave (E) of triangle Y is allowed to overthrow and hold its validity.
Got the 4H bull div I was looking for on RSI, but chart looks like it may want to make one more knock downward before finishing this corrective move completely.
EW aside, we have a 4H 12/26 EMA cross. Very Bearish. Looks like price may go for 200 EMA.
Red and green a separate counts (Green = Bull || Red = Bear) We could be in a (4) right now for another push higher before down (Green). Or we could be beginning a nasty path downward. Both look viable to my at the moment. Typically looking for a ~38.2% retrace on a w4, but this looks like it may end deeper. Obv possible, but lends skepticism, at least imo....
If we did complete our correction here, see everyone @ 500. If not, more bore.
Not even gonna count this ish. LTC is in love with the BB midline. UP, Down, Down, UP...oh wait... back to midline BB?! Not to mention, that stochRSI should be enough to petrify bears if they look directly at it. @_@