This bat appears on multiple exchanges and is accompanied by both regular and hidden bearish divergences from the 1m chart all the way up to the 1D chart. We are also starting to form a bearish divergent bar on the 4H chart and could possibly form one on the 1D before the close today. I believe that this is Wave-a of a flat because it has retraced further than...
It appears that we just completed an Irregular Failure Flat on the 12H chart. Since this is a running correction it implies very strong counter-trend power so I would expect that we go to at least 190 on this leg down, possibly even lower. This pattern should take 1-2 weeks to complete. It's a very nice, clean count. Perfect Impulsive move down followed by a...
It appears that drop to 165 on finex didn't give us the spring board bounce I was hoping for. What now seems more obvious to me is that we are in Wave C of the 2nd Zigzag on the Monthly timeframe. This means that once this final dump is complete there are only 2 options left: either we begin a major bull run on the monthly chart OR we get another x-wave and get...
Yesterday's candle was meant to signal the end of the downtrend on my daily chart. It seems like it did that and about 30 minutes before close BFX decided it wanted to test 165 real quick. Since that daily candle was meant to signal the end of the downtrend and now a new uptrend is starting with the new daily candle it kind of looks like how it did in 2013, before...
After Completing the Preliminary Retracement Identification Analysis on LTCBTC it appears that it may have just completed a Double Zigzag or Double Three correction. The Count I'm looking at has the peak in December 2013 as Wave v of 3. Down from there begins either a zigzag or a complex three correction, which is followed by an x wave and then another three....
As you can see, it appears that LTC is leading BTC. The setup on BTC is almost EXACTLY the same as LTC was right before it got its giant Wave iii and increased over 100%. BTC, unfortunately, is not as volatile, so it may only increase 50%, however, with 20x leverage the gains will be similar :) Now specifically, these are some of the reasons why I think BTC is...
In the attached chart you can see that we just formed a perfect bat on weekly futures on the lower time-frame. The Elliott Wave count also supports this being the end of the pattern by way of the terminal impulse in the Wave v inside of what I believe to be Wave (c). If this is correct it means that this big daily correction on bitcoin is not over, and that...
It looks like Bitcoin is preparing for a large impulsive wave up. This is either going to be Wave C or Wave 3, depending on how the market reacts towards the end of this wave. The bigger picture appears to be either a Complex correction or a Flat, which we are in the final wave of. (y or c respectively) On this chart, you can see that we have a nice impulsive...
Don't get too excited, but it looks like we're on the cusp of another huge dump. :) This up coming wave could bring us all the way down to 162 usd. The reason why I posted on Huobi and not on another exchange is because hooby has the nicest bat formation. The big wick makes a very nice top and will most likely not get broken. Other exchanges may make a...
This chart is constructed by taking the High+Low/2 of each daily candle to plot a single data point, which is then connected by the line. By doing this it helps eliminate the giant wicks, and also helps make waves easier to see. Since the price of the line is different than what you'd see on a candle or bar chart, you get different retracement targets and overall...
For ease of viewing I am going to include the other possible valid count below. However, currently I am favoring the above count. The reasons why will be listed below. Note that both of these counts are overwhelmingly bearish on a higher timeframe. Any bullishness is going to be quickly and violently stomped out. Being long at this point is very risky, and being...
EDIT 2: This chart was the obvious winner... Wave 2 are rarely triangles. This is the alternate count that I am currently favoring over the last chart I published (). Looking at the 3H and above there is a pretty big bullish divergence all the way up to the 12H. My original thinking, that I published in my other chart, was that since wave v (on the current...
Great place to start re-opening shorts with a tight stop-loss. Counts on the lower time-frames support the ending of Wave 5 of 5 of c of 2 of (3) There's also a big bearish momentum divergence on the AO at this time-frame and a 62% retracement of wave 1 of (3). Since this appears to be a Wave 3 of (3) on the horizon the next drop will be extremely strong. Bulls...
Looks like bitcoin is about to get another big wave down, this should bring us under $200 within the coming days. On this chart, you can see that we have a pretty nice bearish Gartley pattern (www.investopedia.com). Along with 2 Elliott Wave Ending Diagonals, one is Wave C of a flat (red lines) which I believe to be either part of Wave E or Wave 2, the other is...
As you can see the blue spiral is drawn from the beginning and end of Wave A, and on a 1:1 scale, hits the peak of Wave C perfectly. This spiral ended up being a very good resistance level in this position at this scale. So with that knowledge you could expect that it would continue to act as resistance and that Wave E will probably not go past it. Based on...
The best advice I could ever give anyone about the market is to "Want What the Market Wants." Do not want what you want , that will produce anxiety and doubt. Align your personal beliefs with that of the market and then trading will flow like a calm river of success. So that raises the question: What does the market want? On a weekly timeframe, the market has...
DISCLAIMER: My ideas change all the time and very suddenly, sometimes majorly sometimes very slightly, (which is why I don't normally publish charts) so take this chart with a grain of salt and check the comments for updates. I am trying to avoid becoming too attached to this idea because there is a good chance it is wrong. Anyway... LONGER-TERM VIEW: It appears...