Just a visual on how correlated these two tickers are. Pivots line up eerily close, though price reacts at different degrees of magnitude. More up dates in my other locations. Cheers
This chart has a couple things going for it. Some support resistance flipping, some old school looking patterns on there and even some decent looking Elliott wave. Watching to see if this move up can, complete as an impulse or ZZ as well as break above the 14.50 mark and flip that area to support. But it looks like volume is drying up atm.
Some Elliott wave possible counts im eyeing up. There is a key invalidation level near by so interested to see if it is penetrated and invalidates some possible counts.
Been posting mostly in other places... but on the smaller time frame watching these possibilities to play out... Im looking for clarity here. So if it follows one of these paths, I will set up a plan to trade them accordingly.
Bullish scenario from last chart played out pretty good. Looks like there was a pivot put in at that point. But will it hold? So a couple things of note for me when I look at this PA stand alone in a bubble. Currently the PA is nearing an Invalidation area, once it crosses 56.60. But I still think there is a chance that a motive wave, expanding Diagonal, could...
Going to be keeping a couple variants on the same chart until there is some, IMO, more clarity. Its similar to Bitcoin, in the way that there is a large corrective structure as the the 2/B. Being such a large, in time, structure, I would be looking for something of similar degree. This could be obtained by a sharp deep correction in price, or a sideway...
You can tell a lot about an Elliott Wave structure based on the type of corrections follow each other. Based off of the current Price action in BTC from the last major pivot at 33k. These are the possible Counts I am looking out for. Let me know if you are interested in learning more!
Right now the Price Action is hitting many markers for an impulse move from the High. All of the notes are for the bearish impulse down, but time is running out for this sideways Wave 4 move, its getting a bit big in relation to the Wave 2. A break above 4478 would have me a bit suspicious if it is still a valid impulse, though 4572 is the official invalidation....
Got the move down I was looking for, and now it reacted to 45$ a couple times here with some interesting Elliott Wave patterns at the end there. BUT I am waiting for a break of the range here with at retest, throw back here.
Lower lows and Lower Highs, the definition of a down trend. Looking for a trend change here. So far nothing convincing that the trend have began moving back up yet. May be a triangle/pennant here so if it gets a lower low on the price action and a high low on the rsi, bull divergance, it may point to a potential turning point. Again, waiting for a trend change,...
Some Elliott Wave thoughts on Binance. At a support area atm just hit 1:1 in time 2:4 Did not breach High Double top Possible flat Or other sideways trend line acting as resistance EWO fitting PF is acting as temp channel and caught the top with some recations on the .5
Here is a chart with some Elliott wave guideline i am seeing for the current bitcoin count. Does this mean this is THE count? No. But some of the studies and teaching of Elliott wave to offer some tendencies of the market, of which some are in play here.
Bear interpretation Posted first else where. Using the impulse variant, W3 has a nice impulse so anchoring around that the cleanest impulsive finish, IMO would be 1 more Low. Gotta go soon! Hoping for clarity of count either way. Circle is a bit sus so meditating on that. Clue locations labeled.
Posted a shorter time frame analysis else where but, so far the short term bullish played out pretty good. So from here thinking OMLU possible, not exiting all my longs, but from here will be watching for a possible retrace or lower low depending on the context of the move, if down from this area. Flipped resistance into support Hit some markers for an impulse up...
Had This option back at the pivot. Looks like its playing out pretty good. Could be done and bounced out of the GZ, but would want to wait for at least the .36 to get flipped back to support, or if it breaks down below .28607 the POC and the low of the consolidation.
One Elliott Wave count im keeping an eye on. TLDR: Want to see these previous resistance lines be breached and flipped into support before getting too excited for a bounce up. But have been short from the top so may be a bit biased. The Elliott Wave pattern just doesnt look complete. But I am fickle and can be swayed easily by the PA. And AXS can always do AXS...
Shared with the fam last night and caught the pivot at 42605. Looking for it to get to at least the algo first target and the Pitch fork median line. If it pops higher than that, fantastic! BUT there are some structural resistances over head its going to have to blast through so watching those areas!
Since the last post, Doge has invalidated the Elliott Wave Contracting Ending Diagonal and has bounce back above a strong support. But its hard not to see this Elliott Wave pattern. To invalidate it, a nice shot up would help or a correction down to the previous support and a rocket up. Watching how this develops.