Almost coming to that green box ;) A bounce from here and retest 16228sats Patience is the key.
Note that we are having a truncated fifth wave, which means the correction can reach beyond 0.65fib lvl, which renders the next target around 10937sats, expect a bounce here to retest 0.65 lvl ( confluence with the weekly major trendline). My previous bullish count of target wave 3 at 50k sats is still accountable as long as the wave 2 never retraces 100%....
delicious rr ratio for long <3 enjoy the food.
I'm sorry for the bottom that I called (21000-23000) has been breached as I never expected upbit fud will happen (duh i'm not a prophet for this). So, back to the topic, from the daily timeframe, we can see gvt bounces at 20500-21000, which is kind of close to my bottom LOL, anyway I'm still wrong (500sats away). Thus, 20000sats is a very strong support zone for...
Not in a position with Nano but the RR is looking tasty right now.
I strongly believe we are almost reaching the bottom (21000-23000ish). Let's just see how it plays out in a few days time.
Description is in the graph. Up to the time I chart this, the retracement for wave 1 is still pretty healthy IMO. A break below 22000 indicates uptrend failure. Note this.
GVT bounces right at the trendline and let's see if it could make a double bottom from here. Wait for confirmation when it breaks out of the falling wedge. If it breaks down from the falling wedge, the next support zone would be 23000-23200. Based on the increasing RSI, I'm more biased that it will break out of the falling wedge instead of going down.
From chart pattern perspective, on a daily timeframe, two hanging man have formed and this indicates the bull is losing strength, RSI shows overbought as well, i strongly believe a correction is coming. From elliott wave perspective, wave 5 has done and now entering ABC correction. (A BREAK OUT OF THE BULL FLAG/FALLING WEDGE WILL INVALIDATE MY WAVE...
I has come up with this possible second scenario. Charting is about find every single possible scenario before it happens, so we can act with anticipation. For this second scenario, which is quite bullish compared to the previous one, we are in a falling wedge (duh obviously) and we are nearly done with correction, in wave 5 of C wave, down to the green box...
Has been very busy these few days and never have the time to really look into charts. The chart is solely based on elliott wave, I'm a new beginner on EW, so don't take my target seriously. So from what i has charted, we are now in correction and almost done with wave A correction, we could see a short term uptrend back to 26600-27500ish target and then correct...
On a 2 hour chart, a hanging man has formed with its wick hit on the resistance and a doji with high volume have formed, RSI is overbought as well, it indicates the bull has lost its steam. So, a temporary correction is due. The previous 25700 strong resistance has now become a strong support, expect a bounce from there. Again, it is not financial advice and...
Wave 3 has reached 1:1 fib extension which is around 27100, RSI indicates overbought and also bearish divergence, so a correction is imminent (volume is decreasing as well). Based on the 0.618 retracement of wave 2, we can assume wave 4 retracement will be less than that, and also wave 4 cant enter wave 1 territory, so the correction target would be 25700 at most...
In a daily timeframe, it is still hovering around the golden zone(0.618-0.65 fib retracement lvl), wave 4 is still valid based on elliott wave. We can see wave 3 has reach 1.618 fib extension, so we can assume wave 5 can reach 2.618 fib extension(64000-65000sats). My previous target which is around 50000sats. 50000sats is more of a conservative target and this is...
As expected from my prev chart, the volume is not convincing and it did retrace to retest the breakout zone of the triangle. From a chart patterN point of view, a bull flag is forming, a break out of this flag might signal the next target which is around 27000-27500, according to the length of the pole and also the major resistance. From the elliott wave point...