After the huge bullrun from less than $1 to over $5 the corrective contracting triangle seems well defined.
We can expect the upper tendance to resume and to broke the ATH.
I would advice to place buy order around $4.40 with stoploss just below $4.
Any thoughts from EW analysts ?
What an epic bullrun in 2017 !
I wanted to zoom out a bit cause it's easy be seized by price ticker nowadays.
Opened some weekly chart I tried to update my Elliott Waves counting.
Third (impulse) wave could be over some days ago, around 11200 dollars.
If that's the case : we are down in short term, correction to 7000 or less.
Then would come the end of the...
Here's a simple chart to see that last weeks may have pushed to an important milestone, in normal-scale (I usually use log.scale).
> In blue you can see the all-time support trendline
> in green/red the falling wedge, correction from ATH
IMO excluding less than 24 days spikes to draw TRENDlines is to be done, so you got my green and red bold lines.
Here is a quick try to EW count after the big drop which occured early January.
To me this drop marked the end of ABC correction for 2014 falling wedge.
We still need to break the big resistance trendline (big blue line in my chart if you zoom out) to be able to tell whether or not bear market has ended.
Pretty clear impulse waves are defined. Feel free to...
We saw some big drops occuring in thoses first days of 2015.
The bleeding touched at 255 (April 2013 old ATH) and we pretty quickly came back to 275 which is very important price.
275 being at the same time : long-time support for 2014 end, 2014 lowest price, first fib. retracement if we consider $4->$1165 being Wave 3.
Check my previous charts to have...
This is an update of a chart I made 10 days ago (check linked ideas). I've added some inner waves and some corrections.
Yesterday's drop to $276 could have ended the (5) wave of C. You can zoom a bit to see the decomposition between (4) and potential (5). Long-term support, lowest-point after burst ($275), first level of fibonacci retracement are all pointing to...
I've became interested in Elliott Waves lately and I tried many counts.
Here is my try for a large time scaled EW and finding the end of 2014 bear market.
Feel free to criticize it, even more welcomed if you got some experience in EW.
A pretty obvious pattern is the corrective triangle, correcting the Dec. 2013 burst.
In classical technical analysis I used to...
I was checking a chart I don't use very often : the normal-scaled one.
As you can see we'll have a breakout in the next 2-3 days.
This could be a good indication (direction) for what's going to happen soon (in the next weeks) on the log. scale.
Check the linked chart (showing the next log. breakout).
Also, we can remark this :
- if breakout happen to the...
Next weeks will be interesting.
We are approaching :
- the log trendline, resistance from ATH (red). (Check what happened last time we crossed it in my linked chart)
- 2 supports : first one being the 1year support (orange), second one an all-time support (green)
In the mean time we are hovering @383, the 23.6 fibonacci level (both recent and also 1-year...
A quick chart to show a well defined symmetrical triangle is about to end.
Price was hovering around the 650$ level as expected.
We had a double top and double bottom with some volume. I don't really know which side will be prefered (indicators defers depending on scale/timings).
With the fundamentals about Apple re-allowing btc-apps, CEO of eBay/Paypal about...
We already broke the 6 months resistance on linear chart, and we are really close to see if log. one is to be broken or not.
So here is my all-time chart, where log. scale is to be used.
I tried to look how the pre-bubble periods materialized on previous bubbles.
You'll find in green the differents bubbles - timings ATH to next ATH.
In red I display the main...
Some days ago I published about the 5 months downtrend main trendline being broken and looking for it to be new support line.
We are currently testing it for the 2nd time and with decent volume (mostly due to PBOC warning 3rd party processors to deal with Bitcoin exchanges).
Just Zoom around the end of April to get a clear view.
Also I remarked the Fibonacci...
A long downtrend started mi-december and is shown in the main triangle.
A breakout occured some days ago (15-16 April 2014).
It will be interesting to see if the 4 months resistance will behave like a new support or if the breakout was just flash. To prove the possible current uptrend a break of 530$ level would be a nice start.
My first chart here, so I'm open to suggestions and maybe there's better tools to show my thoughts here.
Still : with MACD possibly going above 0, flags mostly ending between 60% - 80% and a downtrend leading to a (strong?) support I would go for a reversal.