Bullish Shark Bearish Shark AC 1.13 - 1.618 AC 1.13 - 1.618 XB 0.382 - 0.618 XB 0.382 - 0.618 BD 1.618 - 2.24 BD 1.618 - 2.24 XD 0.886 - 1.13 XD 0.886 - 1.13
ETH hourly is begging for this HNS pattern formation. Will be interesting to see if it plays out. Same pattern on RSI
Drives 2 and 3 should be 127.2% or 161.8% extensions of the A and C retracements
bullish alt bat requirements A-C 0.382 -> 0.886 X-B 0.382 B-D 2.0 -> 3.618 X-D 1.13 Now wouldn't that be bang on the 78.6 fib level?
Just playing my harmonic checking out possibilities to train my eye for some bearish deep crab X D 1.618 X B 0.886 B D 2.0 - 3.618 A C 0.382 - 0.886
LTC contracting/symmetrical triangle (top declining, bottom rising)
Ignoring the volatility of that dip you see a nice descending corrective wave triangle (Top declining, bottom flat) with many consistent touches. Now that most are calling another bottom in fear I think ETH is actually preparing for that breakout of this descending triangle. We'll see. GL
Bullish Shark A-C 1.13 - 1.618 X-B 0.382 - 0.618 B-D 1.618 - 2.24 X-D 0.886 - 1.13
BTC vs ETH ETH is leading the pack. You can see that ETH on the right has pretty much been sold out dry on the daily where as BTC has some more left to squeeze juice out off. ETH to me is clearly going to lead here to sculpture that perfect inverse head and schoulder for us. Maybe a little more down but in no way I'd recommend going short here on ETH. ETH seems to...
AB=CD pattern possibility coming up. RSI also diverging
trying to apply harmonics in the past to learn from real scenarios
I believe this is what people like to call megaphones in the chat. We would need confirmation here of buying volume and breaking that upper trendline Descending Broadening Wedges tend to breakout upwards. Swing traders can trade the pattern from top to bottom and from bottom to top. After the trendlines are formed, as soon as price touches the upper trendline...
Looking at the charts you can see ETH always follows BTC.. except right now! My best guess is that a lot of new people started shorting ETH where as BTC market is more resilient. Either way BTC is going up and ETH fake selling pressure will pop as BTC keeps going up. Instead of a new eth high you got an eth lower high. So imo this is a great long position with BTC...
Well looks like we got that wave 4 correction. So I think we are off to battle our way through some prior resistance levels
Starting the wave count outside the volatile dip wave 3 is now converging with wave 5 inside of wave 3. Also on the 15 mins chart there is a triple top. The RSI on 4H chart is also asking for a retracement being at 94.
as you can see we have been hoovering in the ichimoku cloud for a couple of days which was a good sign it would bust out of it. I've drawn an elliot wave projection to get an idea of where it might take us. Keep it safe
An analysis with a pinch of sarcasm ;-) Either way the 1 hour doesn't support much upside and this remains a bear flag so be careful out there
Looks like we formed a nice upward channel here BTC 8.57% bounced of the rainbow support line just now. My russian roulette prediction is we're going up from here