CryptoPummel

CryptoPummel

I was asked to update this idea. I actually did some new analysis now that i re-study the chart again. Every time I look at it, I see new things (or maybe less...). I will also upload a new one for EGLDUSD that complements what is suggested here. My suggestion here relies on Fibonacci levels and in different repeated phases i am seeing according specially to...

CryptoPummel Updated 

It will be probably different but it will be. Are you ready? Elrond against BTC. 16 of November we have the farming in Maiar Exchange...

CryptoPummel

The previous linked Wyckoff idea was invalidated today after having a lower low. The traditional one can still take place.

CryptoPummel

A more positive idea, seeing the bullish divergence playing out. If EGLD is able to keep the recent low volume of sellers and make a relevant higher low... Quoting some parts of the original article where they suggest this Wyckoff schematic of Gradient of Rising Bottoms at the very end of it: "Richard D. Wyckoff and his Associates time and again pointed out...

CryptoPummel

Just an idea, not saying it will happen: If BTC is not able to keep the diagonal 0.618 of the schiff pitchfork and the H&S pattern and/or the bear flag occurs, then we will be probably re-testing for the first time the lower darkblue line of the schiff for BTC. It need at least to close the day and week above 49500, and this can definitely happen.

CryptoPummel Updated 

This is the first step to get out of the ascending channel and look for my target of 1250$ that i explained in the other chart. In one week we are out, going to be massive.

CryptoPummel

Very clearly, when in the past the ADX directional trend strength indicator crossed up the level 20, we have a bullish run for ELROND. The green directional DI indicator needs also to be above that 20 level. The only one time that was a down trend for ADX above 20 was when the green DI indicator was showing a downtrend. Have a look at ADX, an interesting...

CryptoPummel

Chart is self-explanatory. After long consolidation, we formed the descending handle and at any moment we go to the target, which is also 1.618

CryptoPummel

In my previous idea about schiff pitchforks i estimated 1150$ using FIB retracements. This idea uses FIB extensions in logarithmic fashion, as well as axis. In this way, no more 6.618 madness shows there. I added 0.886 which represents the price level derived from the golden ratio (0.618 x 0.618=0.786, 0.786 x 0.786 = 0.886). You can see that was the target in...

CryptoPummel Updated 

I had a look this time at lines that could be there. Now that Maiar DEX is coming out in November, i think the blue trend is the one that should hold, but let see.

CryptoPummel Updated 

These are the two options i am seing in the short term, looking at possible fractals (see my other posts) 1) we go sideways for about 10d, then we continue up. 2) We are rejected in 0.618 of the last retracement (where we currently are) and we go down to around 155 usd.

CryptoPummel

We need to be also ready for this, if it happens. EGLD forming a ascending wedge, that is usually bearish. If BTC tops soon after the long rally, it could happen. Be prepared for all chances...

CryptoPummel

Nobody knows the path, this is a possibility mixing FIB extensions and Schiff.

CryptoPummel Updated 

We have learned that BTC usually touches the top monthly CPR every month. This could be a scenario playing out very soon that will take BTC down 12-15% in the next few hours.

CryptoPummel Updated 

If we try to use Schiff Forks on the previous run and current one looking for confluences, and we do the same with FIB retracements, this is what we see in the logarithmic scale. It is good to be prepared if it can happen, so don't sell all your EGLD at 200$ :)

CryptoPummel

Following suggestion in my previous idea, let see the fractal when we change to logarithmic scale the y axis. 400 usd in a week? Not that i can even believe it ... but, volume profile main resistance has been surpassed. Now what?

CryptoPummel

I think nobody believes what's going to happen to Elrond if we surpass that 0.618 extension level. The untold music festival where EGLD will be used for buying tickets coincides with the top, the fibonacci horizontal next point in time coincides with the next bottom (which is aligned with previous resistance). It looks crazy, but be ready, in case it happens.

CryptoPummel

Everybody is drawing the channel using the previous support trend as starting point... and the we have broken the channel. If we draw it using the resistance left side of the channel, and try to see also the midline of the channel as effective S/R, I think we are still on the (new) channel :D We can go down as much as 0.786 (45,350), but also probably stay...