Coin_Analyst

Coin_Analyst

My original post for a possible sell off in Cardano can be found here I have updated that particular post as it was based on Elliott wave analysis. I decided to look at the trendline in Cardano in this post and also look at where support is to investigate what current price action offers in terms of risk to reward. The current sell off in Cardano which started...

Coin_Analyst Updated 

Cardano made a high of 0.00009180 BTC on Jan 4 2018 and has been selling off since then. Wave W of an Elliot wave cycle is believed to have finished and is labelled wave w(in red).So far, the sell off in Cardano is shaping up as a WXY Elliot Wave structure, and we are in Wave Y of the WXY structure. Also shown on this chart is the long term trendline of Cardano...

Coin_Analyst

The sell off in XRPUSD (Ripple) after it reached a high of ~$3.30 on Jan. 4, 2018 is captured in the chart by the bearish trendline. The curved light blue line on the chart is used to show the bottoming action in the price of Ripple. This indicates that the price of Ripple will resume a bullish trend or price swing upwards albeit temporarily. If Ripple fails to...

Coin_Analyst

You can see the original post I made for Ethereum here: Price action in Ethereum appears to be trapped in a channel ever since it made its high of ~$1424.00 on Jan. 13,2018. Ethereum bullish price swing from the bottom of the channel at ~$569.49 should have tested the top of the channel at ~$1027.01, but failed to do so. This is a sign of weakness by the...

Coin_Analyst

The original link I posted for the EURUSD can be found below: I have decided to use the Elliott wave principle in this post to analyze the EURUSD. Price action above can be described by a 3 wave move in what seems to be shaping up as an expanded flat (3-3-5) Elliott wave structure. We are currently finishing intermediate wave C which implies that the sell off...

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Tron (TRX) made a high of 0.00002047 on Jan 5, 2018 and has been in a downtrend since then. A massive descending triangle is drawn on the 4hr tf. Support area for TRX is marked with green lines (between 0.00000261 and 0.00000207) should TRX break to the downside of the descending triangle. A potential breakout above the descending triangle should see TRX...

Coin_Analyst

NEOUSD hit a high of ~$198.20 on Jan. 15, 2018 after which it sold off. Price action from the high at $198.20 to ~$63.62 (on Feb. 6, 2018) is a 3 wave (A-B-C) move. This implies price recovering or resuming from the low on Feb. 6 as an impulse move upwards or at least another 3w move upwards. The uptrend in price after the low on Feb, 6 2018 is rather another 3w...

Coin_Analyst

Etherium made a high of $1417.96 on January 13 2018 and hit a lot of $565.53 on Feb 6, 2018. Price action for Etherium can be described as operating in a bear channel for now. The main trend line (over price highs) is drawn with its parallel used to connect price lows to form the channel. Price action currently is close to a resistance area for the channel. The...

Coin_Analyst

The EURUSD has being in a bullish trend since December 25 2016 (based on the Weekly tf) and the trend should resume albeit the temporary sell off as shown on the 4hr tf. For the 4hr tf, I have shown the evolution of the trendline for price action with Trendline 1 being the major trendline, while Trendline 2 is a more recent and steeper trendline. Trendline 1 is...

Coin_Analyst

The downtrend in Ripple (XRP) that started on Jan. 4 2017 at a price high of $3.31 to $0.59 on Feb 6 2017 can be described as a 3 wave (WXY) Elliott wave pattern. This implies that a move back up from the end of wave x (in red color) will either be a 3 wave move back up or the start of an impulsive move (pointing to an uptrend). Either way, both scenarios argue...

Coin_Analyst

XRP made a high of $3.31 on Jan 4 2018 after which it sold off with price appearing to bottom on Feb 6 2018 at a price of $0.59. The downtrend line is marked on the chart to show the bear move between the prices mentioned above. A curve has been used on this chart as well to show the bottom action of price in Ripple (XRP). It appears to be a complex, inverted...

Coin_Analyst

The downtrend line in IOTA that started from price high of $5.80 made on Dec. 19, 2017 to a price low of $1.20 (Feb. 6 2018) is shown on the chart. Currently, price action has successfully broken the downtrend line and managed to stay above it. This argues for a bullish bias in IOTA. Besides, I have also used a curve on the chart to show the bottom action of...

Coin_Analyst

The 3wave move in IOTA from a price high of $5.80 made on Dec. 19, 2017 to a price low of $1.20 (Feb. 6 2018) can be described as a WXY Elliott wave structure. IOTA will possibly move back up as a 3w move or an impulse move. Either scenario calls for a bull move in IOTA. I have indicated on the chart my price target area which is $1.85. POI = Point at which this...

Coin_Analyst

Monero move sold off from a high of $477 on Dec. 20, 2017 to a low of $151.54 on Feb. 6 2018 in what can be described as a WXY Elliot wave structure. This 3 wave move should be followed by another 3 wave move upwards or the start of an impulsive move upwards that can see Monero move past its old price high of $477. POI = Point of invalidation at which price...

Coin_Analyst

Etherium classic seems to have moved sold off from its previous high of $47.249 made on December 14 2017. The sell off shaped up as a WXY Elliot wave structure. The move back in Etherium classic signifies either a resumption of a trend (bull) in Etherium classic or a 3w move back up. This implies a move back up in the price of Etherium classic. POI = Point of...

Coin_Analyst Updated 

XAUUSD made a high of $1365.95 on Jan. 25 2018 and has been selling off ever since then. The Elliott wave interpretation is for a primary wave B (italicized letter B in black on the chart) to have terminated at the high on Jan. 25 2018. This implies that the current move is part of a primary wave C (an italicized letter C in black when the move is done). Primary...

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Bitcoins finished with a high of $19,187.78 and has been in a downtrend ever since then. The current correction is a W-X-Y structure with price action currently in a descending wedge for the wave Y. It appears that there is one more leg downwards i.e. w5 before any bull move can be sustained. POI = Point of invalidation. Even though it is a wedge and w4 is...

Coin_Analyst

EOS made a high of $18.67 on Jan. 13,2018, after which it began to sell off. EOS is currently completing a W-X-Y structure with the wave Y not yet complete. POI marked on the chart = Point of invalidation (i.e. w2 is red color is not allowed to retrace more than 100% of w1 or close above it). EOSUSD completed an Elliott wave cycle (i.e. wave A labelled in red)....