BTC still has potential for further upside with Long positions down significantly over the past couple of days. Looking at Bitfinex Longs/Shorts, lots of potential for long positions to be opened again sending forth another rally. Shorts are still near to all time high regions with less potential. Look for buying opportunities on the long zones. Sell at the green...
Getting ready for Diamond top breakdown in Wave 4 of 3. Descending Wedge to start Wave 5 of 3. Red box at top = Resistance.
IF Diamond Top Breaks to downside:
Diamond Target 1 = Not Accurate yet as we have to Apply this ON the breakout but still charting it at the moment as an example.
Diamond Target 2 = Probably won't get hit if this formation continues as it is...
IF BTC has finished correcting, we can see the first Motive Impulse wave has already began. Here is a rough price target guide for what the coming elliot waves may look like. I have been trying to learn Elliott waves so by no means take this as if from a proffessional. Any advice/criticism/thoughts & ideas appreciated.
The chart explains itself really, with the RSI repeating patterns and consistently hitting 0.618 Fib levels. NEM has a lot ahead of it this year - Catapult in May, Many projects being built on top of the platform, and many companies testing the blockchain behind the scenes.
If XEM Follows previous patterns, this is what we can expect to see on the weekly RSI. If it follows the same, now is a VERY good time to get in indeed. NEM Foundation has also behind the scenes been working with numerous companies that have been testing their blockchain. With the release of catapult rumoured to release in May and additional projects being built...
Well, our targets were hit and broken! price broke well under the 0.786 Fib level due to some volatile BTC price action over the past 24 hours. Lots of panic selling ensued and price dropped further than predicted.
Have now amended wave 3 targets based on wave 2 floor price.
Wave 3 is never the shortest thus I predict it will take a little while for the price to...
ABC correction seems to have finished and first impulse wave has now been completed. Based on first impulse wave we can now get some targets going for waves 2/3. Based on these targets waves 4/5 can be roughly estimated also.
To get Resistance support levels (purple lines) : Used Fib retracement from previous rally up to ATH
To get Elliot wave wave targets: Used...
Here we see an Ascending triangle on the small timeframe of 1hr. If there is a breakout on the horizontal trendline with high volume, $10,800 is the target. If breakout is rejected, alternative scenarios based on resistance lines and fib retracement lines are outlined by yellow and red arrows. Any opinions appreciated.
RSI = Bullish divergence
MACD = bullish divergence
Bullish Falling wedge
Elliot wave = Looks like SALT may have finished its' ABC correction and ready for a new impulse wave?
Looks like could be a good time to buy. Any opinions appreciated.
Copy pasted the previous bearish Fractal. Have inverted it to make it bullish, as the market sentiment is gaining confidence again. It seems to line up quite well with resistances, may be worth keeping an eye on.