I try not to post quantity but quality here! So, don't think I've disappeared if I don't post for a few days or even weeks. It's just that I haven't found any good setups or simply because I'm lazy... So go on my Telegram channel in that case or send DM
NIO - Made 5 waves up but it looks like this could actually be a wave C !
Therefore be very careful if you want to buy the pullback.
If price goes down to the orange zone in corrective fashion and we can distinguish a corrective pattern, we can look to buy the reversal out of that zone and even add on a new high.
BUT if that's not the case and we see...
S&P500 - As I said on my last post, it's very likely we're in an Ending Diagonal wave 5 here and should therefore not initiate any longs just because we saw price make a new high.
The ED is invalidated if price is to go above 4344.
We can look for support at the noted orange zones at first.
If the Blue impulsive count is correct, we can expect wave 4 to be...
Ethereum - ETHUSD -
Price missed the 161.8% Fib level by a bit...
Now we have to look for potential support at the blue zones 1900-1700.
Below that I think it's less likely to be red wave iv, I would then rather look at it as potentially higher degree blue wave 4.
There's really no big change since my last post (see below)
Bitcoin - BTCUSD - Count #1 :
We could see price stall around the 30k-35k zone in case this count is correct since there's potential support from the 38.2% Fib retracement level, the 1.618%-200% Fib projection level of wave (a) and that simple trend line from the wave 2 low.
For now, price made a...
If price can go above 130 without dropping below the 78.6% Fib level at 113 and of course the invalidation level at 100, it has a high chance of making a new high.
Above 130 I would look for a move above 143-ish before going for 178 then 200
ZM - This wave 4 correction I talked about a few months ago turned into a combination it seems and reached equality of wave W vs Y.
Price also bounced off the anchored VWAP from the wave 2 low.
But I don't recommend blindly buying right now, unless using tight stops of course, but rather wait for a confirmation that price really wants to turn first.
EOS - I'm not necessarily convinced by the wave counts here but what I do like is the fact that it's outperforming BTC.
Looking at Fib levels, I think if price can go and remain above ~13$ it could easily reach 23$ at which point I would also look for the 1.272 Fib level at ~50$ .
That's simply because when price tends to break above the 78.6% Fib retracement...
Price has been pretty easy to ready up to now as you can see an impulsive move up where wave (iv) is a clean Zigzag correction with a Triangle for orange wave b.
This indicates that this move down is counter and not establishing a new down trend.
Therefore we can expect price to go higher once more to finish blue wave (v).
As you can see there's a nice Fib...
YEARN FINANCE - YFIUSD
We have a nice big base here and the wave count suggests a potential Leading Diagonal with a very shallow wave 2 which indicates lots of underlying strength here.
Otherwise, we might be in a Flat correction meaning we'll see price go below 37600-ish soon.
Personally I favor the bullish view because of how RSI has been always staying...
We got a clean impulsive wave up and now seems to be correcting.
I will be looking for price to make a corrective pattern while going down to the noted Fib levels, where the 61.8% level would be ideal support.
So, give it a few days to consolidate before buying.
DOTBUSD - Looks like it finished a Flat correction. Notice how price stopped at the 127.2% Fib projection of wave a which is a usual termination point for wave C of a Flat correction.
Price is now at the VWAP from the high which could act as temporary resistance but as long as price remains above 26.6 I think it's going to go higher.
Since I don't know exactly...
We are in a wave 4 correction unfolding as a triangle.
Resistance is at 565/575 after which we could see a pullback down to 477 or even 450-ish before hopefully rallying higher above 638.
The triangle pattern is invalidated if price goes now above 613.5 or below 429.
I have 2 counts for Bitcoin at current level.
First one you can see higher and the alternate one is here below.
Count 1 :
suggests we finished red wave 3 and are now consolidation for red wave 4.
Seen how shallow the wave 2 retracement is, we can expect something similar and not too much out of proportions for wave 4.
After this wave 4 pullback we could then...
The usual target zone of blue wave 3 (161.8% to 200% projection) has been exceeded.
In such cases price has a tendency to then go for the 261.8% Fib level which in this case is at 4467.
But because we have a few important Fib levels forming a potential resistance cluster around the 3300/3600 zone, I recommend going for that at first.
Only if that zone is broken...
Looks like price is still in blue wave (iv) correction.
Support might be found around the blue box.
FIY, waves 4 have a tendency to go a bit outside the channel so, don't freak out if that happens.
Remember Horizontal support/resistance > Diagonal support/resistance !