After successfully predicting trades for BTC the past 4 weeks, I now see a new development emerging.
There is the possibility of Bitcoin dropping further in price, back to 0% - total retracement. The volumes of sells are nuts.
Big investors are still shorting and the MACD is well and truly Bearish, EMAs are down.
In a correction phase as of now...
There may be a sell move for The Dollar Index, encountered resistance at 90.92
Clear 12345 Elliot Wave - Bearish Impulse followed by correction.
Will DXY maintain its strength?
EMAs levelling and maybe be in the process of converging and MACD showing signs of Divergence in the Daily.
Clear breakout of channel will be surefire confirmation.
Possible target of...
Dear Crypto lovers, traders and investors alike.
Studying the charts yet again, following up, I have worked out a clear channel in BTC. This is in my eyes a correction to the sharp Bearish impulse we had during the winter period.
So far encountered very heavy resistance at $11,700
3 Options, 01 impulse to .618 which is a nice approximation of $14,500.
I'm studying Cryptos quite a lot. They've taken a massive interest to me.
Following the little stock market crash a few days ago where we saw indexes like DAX, SPX and FTSE all drop by a good 3-5%. Which all now seem to be rising in value.
We've seen that most Cyrpto markets have been on a big bearish move.
Now the thing is, when Bitcoin drops in price. So do...
We saw that Bitcoin (BTCUSD) was in rapid decline recently. I predicted in one of my Instagram posts that it was gonna short.
To lows of approx. $12,000 and quite possibly even less.
I was correct, now looking at the charts, there appears to be a reversal. Large volumes of buys. Now that the news @coinmarketcap has died down.
There is no reason why it shouldn't...
Judging from the moves, we can see Ripple (XRP) is obeying Elliot's Wave Laws.
12345 Impulse (Giving us huge gains) followed by an ABC Corrective Wave. Or is it?
There is evidence to suggest that Ripple has held its support at around $2.4 (XRPUSD) but there is always the possibility of it pulling back even more (3-3-5 pattern).
Brad Garlinghouse has tweeted that...
Today my partner (www.tradingview.com) discussed in his webinar, the possibility of a continued uptrend of the NASDAQ Index.
I agreed and thought it was an interesting analysis so I'm sharing it.
I've outlaid a 12345 Elliot Wave Impulse. Waves 1 and 3 appear nearly identical in distance with an extended 5th Wave. (0.618 of Wave 1)
Strong possibility that XAGUSD will continue to fall.
We can see that there is a channel of ABC and 12345 waves which are quite consistent.
It's still very early as it may be ending its channel.
It's now important to look for a flag or a correction that confirms a BULLISH movement, the formation of an uptrend channel as it breaks out.
Signifying a reversal...
See my play on words? If not don't worry.
As we can see, there is a strong bullish movement.
Nice impulse formation 12345, with a good chance of extended 5th wave back to top resistance in channel.
Keep an eye for a reversal at that point. Could be a long way down!
Timeframe: 4H Chart
Duration: 70 Days
Looking at a 3-Wave Structure in the middle. Has formed what appears to be a Channel.
High probability of a buy setup for Gold. Currently looking at a Bullish impulse.
Will hopefully reach top resistance level (In Yellow). In which I then predict a short thereafter.
The worst is over I believe with gold. We've seen very sharp moves which could now indicate good positions to buy.
This would correlate to previous years where we have seen it reach its peak round about May.
Taking it back to 1300 or possibly even more.
If you were to buy, I would just say "be patient"
There is a strong possibility of a buy setup for XPTUSD
We could now be looking at a Bullish 12345 Motive Impulse, in which an ABC corrective wave could follow. Reaching a new high for platinum.
However there could be a chance for a sharp corrective move down some time during the second impulse.
Keep your eyes peeled.