I don't know the coin nor it's fundamentals.
It looks like we might be right on the brink of the corrective wave (2).
Yes, minor wave 4 overlaps minor wave 1. It is acceptable in leveraged markets by wick or so.
Potential 200% from the bottom of the RED up to the bottom of the GREEN
RED - 0.5 fib retr. / 0.618 fib retr.
BLUE - 1:1 fib...
I don't know the coin nor any fundamentals behind it.
However, it look like a quite decent setup for short term trade.
I believe we just finished Wave 4 (ABCDE) as it reached 0.5 fib level.
Moreover, E leg landed on the Wave 1 resistance.
As we all know wave 4 cannot overlap into wave 1 territory (In leveraged markets it can by wick or so).
We might be just on...
I believe we're about to finish Wave IV correction. We still need another leg down (E).
Usually Wave IV retraces to 0.382 fib.
However, as we look at the falling wedge structure it might go lower. (down to the wedge support)
-GREEN ( 1:1 Wave 1 extension)
Heads up lads.
I believe we just finished Wave II correction (red arrow), as we touched 0.618 fib retracement and then bounced off of it.
Now it seems like we've started
- the Major Wave III
- the wave (1)
- minor wave 1 and minor wave 2 which I believe is also done correcting nad now we are heading towards minor wave 3.
Targets for the minor wave 3:
1. Blue -...
- III Cycle Wave (purple)
- (2) Intermediate Wave (blue)
- C minor leg (red)
In my humble opinion, we might be right in the ABC correction.
Next buy zone - red rectangle.
However, to validate this count we need to break through 2 support lines before it gets there.
On the bottom - major support line (it coveres with 0.786 level - very bottom of...
IOTA/BTC 4H - BEARISH FLAG
This scenario, in my humble opinion is most likely to happen.
Then we would have clear ABC correction to 0.5 fib levels.
This actually might happen if BTC make any sudden rupture moves.
For now I would stay away for the trade and if I were to enter IOTA/BTC I'd ladder my buy order in the red rectangle zone. Perhaps even in the golden...
Just a trading idea.
I see 2 possible ways.
1. Retest of the support of the channel and then the bounce to break the channel
Entry - blue rectangle
2. Breking the resistance of the channel
Entry - red rectangle
Either way the target is in the green rectngle zone.
WANBTC 1D Elliot Wave count.
Looks like we just finished Wave 2 correction.
Targets for the Wave 3 (green rectangles) depending on the extension it will take.
As a rule of a thumb Wave 3 often reached 1 : 1.618 ext.
Red rectangle is a Target for a corrective 4th Wave.:
1. 2nd Wave retraced shallowly. Hence, wave 4 is expected to retrace steeply.
2. Even if Wave...
ZIL/BTC 4H Elliot Wave count.
1. I believe we are now in the middle of wave 3 - target 1.
2. Then correction to the buy zone.
Based on the fib. retracement plus the daily trendlines this zone should be a perfect trampoline for the wave 5.
3. Then the wave 5 - target 2
Levels - as on the attached picture.