MAGICMARK

MAGICMARK Updated 

Hello team! So, something I've watched for a while ... ETH, and I have a hypothesis. It does a great job telling us when a BTC drop is incoming. Check out this chart. I'd say in all instances except maybe one, the drops defined gave us advanced warning. The purple dashed lines mark the start of the ETH drop and compare that to when BTC drops. There is a definite...

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Dear team! Another trick I'm sharing ... Renko charts. For those that don't know renko plots bars differently to candles. Each bar represents like a fixed price drop, say $100. If you drop by $400, then it plots 4 red bars (4 x $100), and if it increases by $500 it plots 5 green bars (5 x $100). This supposedly takes out all the noise in the system (or at least...

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Well, I'm getting a bit excited about this coin. aELF is one of those coins that really impressed me when it was first added to Bitfinex. It had great volume for a token, and seemed to always have great support with some excellent rallies. A few weeks ago it rallied well, based I believe on a listing on Bithumb. Since then, it's been in profit taking mode, and...

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Hey everyone. I actually was going to make an update on ETH and how the H&S vs. IHS was playing out. When I went to the hourly chart, I was like ... huh, that pattern looks familiar. So, let me explain that one first. Starting at the peak and saying it is analogous to 20k BTC, check out the labels ... doesn't it look strikingly similar to what BTC has gone...

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Hello traders. So some of you would have seen my previous ideas, showing both a bullish and bearish scenario for BTC. After what could be one very long A wave down (see the GOLD line from 10k to 7.9k) we are possibly now in a corrective WAVE B up. This wave B will likely be made up of an abc wave. We are clearly trading in the channel shown, and only once we...

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One thing I've been studying and practicing over the past few weeks is the use of Ichi clouds. And one thing I've picked up on is cloud twists. For those of you that don't know, a cloud twist is where the cloud gets really thin and turns from a green cloud to a red cloud or vice-versa. Not always, but on many occasions, especially at higher time frames, a cloud...

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One thing I get asked a lot is when do we know one elliott wave has stopped and another has started? My answer is, I look first for a departure of the channel ... when we leave the channel ... and I'm not talking about a spike above the channel, but a steady support outside of it. The second I look at is the levels we reach, and whether it confirms a reversal ......

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Hello all, so who here wishes they got into EOS when it was $6. I was in at that level. I then waited for the fork and sold off at the top. I waited for that pullback after the fork, but I was almost convinced BTC would drop at the same time and tank EOS to like $6 .... what a nice suprise it held up much better, only to rebound to over $20!! Well here we are now...

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I'm sure some of you have seen the massive head and shoulder forming for ETH on the higher time frames. Last week I posted a possible IHS forming on ETH (see black line). ETH has been generally holding up fine as BTC weathers down (compared to other alts), so I'm not totally switching off of it yet. Here's what i'm thinking ... I got in close to the neckline ......

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Dear TV friends. Most of those following me will know I have been showing this path for over 1 month. I've adjusted here and there, but the perspective remains the same. For those new followers, please go and look at my previous ideas and please don't forget to like the idea, if you agree! I'm going to stick my neck out and say waves do not fail, at least not...

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Well, those of you who got into ETH down below should be happy. But there might be more, as long as BTC doesn't mess this up (and I have a feeling it will)... There are some nice jumps to be made with ETH between heavy resistance. Alts are fairly coupled with BTC and if bitcoin gives them that little push they need to get over resistance, then we have...

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The two roads people ... the fork in the road. Always decisions in life. Left or right, on or off, go or no go, right or wrong, up or down? How do you decide when to buy or sell? Do you gamble, listen to others' guidance, or your own TA, identifying possibilities, key decision points and then execute a strategy for min loss/max gain, to improve chance of...

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Folks, I came to the realization last night and this morning of two things. Firstly we have formed the predicted head and shoulders and we now have a 1000 point potential drop from the neck line which is around 9k ... so 8k for this next wave. Second is, the waves from 9.99k down to 8.98k and the back up to 9.4k just confused me. I don't want to bore you with...

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Colleagues. So, I doubt there are many people left who would say BTC is not in a correction after tapping out at 9.99k. Bitcoin has broken the ascending channel from 6.5k and this confirms, it is correcting. This simplifies things a little. On the grand scale ... look at the daily chart, and refer to my previous ideas. Red Line you see on this chart assumes BTC...

MAGICMARK Updated 

I've simplified this chart to show two very different scenarios. One paints a bullish picture (blue line) and the other a bearish (red line). Let's also distinguish that BTC has NOT left the uptrend channel from 6.5k. It hit the bottom parallel, yes, but it has not yet left it. So technically it is still forming the main wave up from 6.5k. Until it breaks the...

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OK people, I've decided to lay down many possible scenarios. Let me summarize, don't have much time! BLUE WAVE: Assumes we completed a running flat correction to 6.5k, and now we are in an ABC correction up, or possibly an impulse. Based on the consensus of some traders I respect, it's possible we form a double top (9.7k or maybe go to 10.2kish) before we go back...

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There you go folks. We all knew it had to come back at some stage! My chart the last few days called for a potential reversal at 9800 (one of a few key levels). Now we know where it turned (one peg in the ground). The next key thing that I see which needs to play out is whether this wave is Wave 2 of an impulse up or Wave E of a Triangle Wave. Let me explain. ...

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Well, well ... the bulls are sure having a good time. 9400, wow! And it seems that it's holding up. I've displayed two potential scenarios unfolding, as per my chart published yesterday. The big difference is that I am guessing the probability that this is an impulse being higher now, rather than a triangle wave. The red wave shown is a running flat ABC...