CastAwayTrader

CastAwayTrader

Yesterday I noted that TSLA had a good long setup to rally after several cycles simultaneously bottomed and turned up. Today we are getting a follow through

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This morning three cycles simultaneously bottomed and turned up. Their combined power is what produced that strong rally

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TSLA is at an important bottom formed by many down cycles

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According to principle of synchronicity proposed by JM Hurst, from time to time several distinctive cycles reach their respective bottoms simultaneously. In other words, cycles get aligned at bottoms or troughs. However, cycles reach their peaks in asynchronous way! This is why when we deal with a big cycle topping normally it creates a string of multiple peaks....

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According to JM Hurst, the founder of Cycle theory, several cycles tend to bottom simultaneously. Those points should be aligned with important lows on stock price charts. You can see that every time three cycles (x3 supp) or four cycles bottom (x4 supp) price turns up strongly. That happens because when a cycle reaches its bottom it immediately turns up and...

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Now got an a-b-c down structure that looks like a micro corrective wave iv down Bulls have a setup to push Bitcoin higher to 51,300

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Bitcoin looks like a completed textbook Leading Diagonal structure. We can count five waves each of them is subdivided into a-b-c but they are very overlapped. That means the underlying bullish momentum has been weak. Leading Diagonals normally get resolved with a strong and deep pullback that erase substantial part of the preceding rally If you are long BTC or...

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I noted that recently Bitcoin had made several swings making lower highs and higher lows. That is a solid sign of some consolidation. Bitcoin has been accumulating energy and is nearing a point where it will release that energy with a strong directional move as a squeezed spring. I can count that consolidation as subwave (b) down shaped as an a-b-c-d-e triangle...

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This rally has been driven by 240 min up cycle since Feb 4th. The Cycle Trader Indicator has just detected signs of topping. The indicator printed a new cyclical resistance on 240 min chart at 4,603. Bulls may try to test it tomorrow. Failure at that resistance would confirm completion of an up cycle and start of a new down cycle.

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That wedge screams come-n-short me!l I think the first spike down will get immediately bought out pushing price back into the lower trendline Re-testing the broken wedge from below

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Ob Feb 3 we got a new cyclical support on 240 min charts of ES and NQ. On Feb 4 bears tested it two times and failed to break under it. Then price turned back up strongly and has been pushing price higher. Overnight both indices broke over 60 min resistance, jumped over resistance but then came back down and retested the broken-resistance-turned-support from...

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Silver turned up off a new cyclical support and started a new Up cycle on Daily

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RTY - One 30 min cycle has been driving that rally on Tuesday

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Bulls is about to break over resistance 42,800 That would confirm completion of a large corrective pullback and start of a new rally

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BTC made a lower low and tagged 66.7% retracement fib. Now subwave -c- of wave -ii- down looks perfectly completed. Note that bulls have already made an achievement, they managed to push BTC to a higher high over the previous high made by micro wave iv up yesterday. One more push higher over 42,800 would make this move up look like five micro wave up move, sign of...

CastAwayTrader

As we expected, Bitcoin dropped into the Green Demand zone. I count that decline as subwave -c- of wave -ii- down. Now bulls have a complete looking -i- up, -ii- down long setup that can produce a big rally topping into mid summer. The first target is 45,000 - 46,000

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Bitcoin has approached the target for that first a-b-c move up of the early January low. That Red Target box is drawn at confluence of: - two Anchored Weighted Moving Averages - downward sloped red trend line, - 100%, and 138.2% ext of wave -a- up. After completion of that rally we can see another pullback in wave -ii- down to re-test the breakout resistance...

CastAwayTrader

Bitcoin has made a lower low overnight and doing that made enough waves to complete a micro structure of a corrective wave B of 5. That is a decent setup for a large rally targeting new all time high by end of summer