Will we see an attempt of reach $66 ? It's all depends on BTC.
Buy area 2450-3200 would be my accumulation area if the head and shoulder formed.
BTCUSD future by fib ext
So far, the trendline is holding, 4100 seems is a wall is not that easy to break. Along with rising wedge bearish pattern forming, expecting it drops to fib levels.
I am expecting it to drop - 3 targets if you short. See chart.
I know it looks ugly and not balance comparing one wing to another, but it does meet the criteria of Cypher pattern. Looking to take a small long position at the right corner bottom where fib 0.786 is at, and ride it up for a .382 retracement for a few hundred bucks.
This the worst case scenario - we will see 1500 in this bear market. We have just finished 12345 uptrend Elliot Wave. If we were to - 1. Complete ABCDE correction 2. touch the longterm trendline on log chart 3. hit fib retracement at 0.786
ETHUSD - weekly log chart - $95 does not look far off, it is right at .786 fib level and will complete double top pattern. tutorials.topstockresearch.com
Have you heard of this book "Ask and it's given"? It's fun to read. Now we've hit .618 fib retracement, it's time to go up. When ETH and BTC doing dead cat bounce, LTC might make a new high like 3 months ago. Bullish flag pattern is forming, whales made this pattern in purpose maybe.
I bet a lot of traders craving for some actions. Maybe, it is here. ETHUSD has always been always a nice swing trade pair. In a short 24-48 hours, your gain could be 30-40% if you catch the knife just right on time. The chart maps out my plan. Yellow circle entries are according to the fib level, along with consolidation area in the past, plus the "character" of...
Litecoin is extremely hot right now, it might not be going to touch the lower channel If we are lucky, it will bounce from the middle dotted line. I would buy right under the dotted yellow line around 62-68 area and expect it tries for ATH. (I am using purple circle for long entries on this one) yellow circle area where it touches the lower channel is always my...
Not sure if BTC breaks ATH will help ETHUSD, this is forming a bearish rising wedge on the daily chart. If it breaks down the wedge, it might go to 0.382 fib level around 290-300 price range. Just get ready.
Wait to get in at the level where fib level at 0.78 on 15-min chart. The trend line is expected to hold there and bounce up.
The picture is worth thousand words :) It's a waiting game.
Let's hope the 5 waves to complete and to hit 350. I think I should go to sleep now. Pass my bedtime for too long. Happy trading everyone.
Today's new high is pathetic. Is it time for a correction for a .618 retracement? I am just mapping out possible movement according to the historical chart. If that happens, normally BTC will perform two or three "dead cat bounce" before reaching the final support. If we were to see a 40% drop in a period of 36 days, it will almost reach long term trend line and...
Th yellow area would be my re-entry point. Be patient and wait to see if it will form like I expected. This should also depend on how Bitcoin behave.
For the love of a bright future regarding LTC, I would be ready to collect coins while it is still affordable. Will not open huge position, but enough to ride it up till 67 :)