Bitcoin Dec 2017 to March 2018.
My current wave count isn't as gloomy as I believe most other TA's are.
I see the possibility that we are now on a wave-2 correction of a large 5-wave impulse going upward.
Please feel free to analyze my count and point out any flaws.
Please do note that I am not at this point "Highly Confident" we are going to shoot upward very...
$BTC just had a bit of a run up.
However, I noticed since earlier today this channel forming.
Until we break upward out of this channel, I'll take some profits for now.
Why it concerns me that this could be a Symetrical Triangle of a larger Bearish Pennant, is that I can find an ABC subwave in each wave of this ABCDE, making it a valid count.
IF we happen to...
I see some possibility of XVG / Verge having some rebound around this point.
It is a volatile market at this time, so this is still risky to play.
Please note it has a lot of FUD right now also.
(As Verge has been so popular in the past few days, I thought I'd take a look)
What I see that has happened to BTC over the past day was a 5th wave failure (other counts don't add up).
SEE this screenshot for a more clear picture:
I know that most TA ignore fundamentals/news, however, this is my view:
I see 5 impulse waves forming as expected, then at exactly the same time of Binance FUD...
This chart appears to be a possible and valid wave count.
Wave-1 and wave-4 doesn't overlap.
Wave-3 is a 1:1 extension of wave-1.
Wave-4 retraced to the 0.65 Fibb of wave-3.
Still, be super cautious because of the FUD news circulating today.
Binance ordered to be shut down (shown as rumor/false) and others.
A wave count for consideration.
I see (zoomed out, starting from the bottom) we just ended what looks like 5 subwaves (starting possibly wave-2 of a larger wave-C) after an ABC correction.
If correct. We could get one small wave up, then down, then another Bull run upward.
Bitcoin showing positive signs so far.
A "Double Bottom" is a Bullish reversal chart pattern that is found at end of a downtrend.
We still need to observe the next hours of price action.
Looking for a breakout at the neckline.
Possible quick play up to 7930.
A rare structure known as an "A-B Base" (A-B Transition / A-B Reversal) which can appear after a major market decline ended on a satisfactory wave count, signals the commencement of the new Bull Market.
(My main TA chart):
My current Technical Analysis trend and wave count.
The market is very confusing with lots of manipulation at...
I called the bottom price of ZClassic yesterday ($7) while most others were saying it would get down to $1-2.
No one else called for the bottom and reversal until well after I did.
Just called out this incoming breakout 40 mins ago,
ZClassic /$ZCL - Elliot-5-wave of Bearish cycle may now completed (or near to complete).
(Regardless of "Manipulation", Whales and Bots DO mostly trade within Technical Analysis parameters).
After the massive (expected) dump which happened after the Bitcoin-Private Snapshot and Fork, ZClassic may finally be finding a bottom.
(Still, because of how volatile this...
Right now, Bitcoin is attempting for the 3rd time to breach a major resistance level (orange dashed line) at the 0.78 Fibonacci level.
We are exiting an Inverse Head And Shoulders (bullish indicator) pattern at this moment (the yellow triangles), successful exit should see us into further upward movement.
Also, we see the price line almost about to cross over...
#Bitcoin $BTC - My current stance
As mentioned in my last post:
"Direction still unclear. Because of the latest events, which appear to be strong market manipulation, it is difficult to determine the current path."
Any analyst to strongly suggesting a position either way (Long or Short) isn't giving safe advice.
However I understand that some still seek advice...
I recommend waiting until this time before making any further major action (unless you are a skilled trader who can play the 1-2% swings).
You'll notice some bounces along the way, but it's not wise to jump into the market right now.
There IS a chance of reversal, if we can rebound strongly off of that orange line/channel, however analytically, it is not likely,...