We are near the 120D point in this thesis, just wanted to revisit and share an update. Keep in mind, this is a developing pattern and there is nothing that says it "must" complete. It's just a thesis. I have moved the cup rim target out to 12/19 because we are still in the bottom of the cup @ around 19k. This date lines up with 1/3 of the time being spent in the...
1. (Orange) Falling Wedge from the 7th has a TP of about 19,840 2. (Green) Bullish Harmonic from 10/2 to 10/7 has 786 FIB tgt of 20,142 and 1.0 FIB tgt of 20,398. 3. (Yellow) Diamond from about 9/17 to 10/7 has a tgt of about 21,620. All of this could transpire within the larger (Orange) Diamond that has still not finished printing and these targets should take...
I will post other charts breaking this down, but here is everything bullish about BTC right now... 1. Falling wedge from 30k-ish, that has a 60% rise TGT of about 28,900. (YELLOW LINES) 2. A&E bottom with a possible C&H forming...both have the same TP of about 1.618 FIB at 28,300. (YELLOW DOTS) 3. Diamond bottom that should take us up to the rim of our cup for...
C&H 1.618 TP = 111.57 Flag 1.618 TP = same Range high = 111.97 Lows Diamond SH = 109.5 Range low & C&H rim= 108.7 Dbl bttm / flg bttm= 107.8 DXY up = Crypto down
We've all heard talk of this, but now it looks like we are finally here! I think this is the beginning of ETH decoupling from BTC and beginning to take the dominance lead! Maybe that billionaire ass-hat Pena will be right after all and maybe BTC will crap to "ZERO!!!" Time will tell, & I'm certainly not making any predictions from this, but this definitely looks...
1. Falling Wedge from 8/16 could give us as much as 1870 TP, but i expect to get stopped about 1780 on this one from the main TL. 2. on the H1, we have a possible C&H developing. It's incomplete so keep an eye on it. 3. Overall H4/D1 of the 2 wedges combined looks like a complex H&S thsat could take us back to around 1315. 4. Maintaining above 1276 would keep our...
Falling wedge setup @ support. Wait for the breakout before entering.
Here's a bear flag ABCD pattern view that will prolly complete over the weekend. Healthy pullback from this would be to around 1300.
The 21D EMA is about 1709 and lines up with a volume resistance level. We also have a rising wedge that has formed over the past few days. Continuation upward over the next few days is unlikely, IMO. The bullish idea I just posted for ATOM will most likely either take longer to play out or get invalidated.
In case you werent already bullish on ATOM, looks like we have a C&H with a TP @ 16.65 at the bottom of a bullish harmonic and on top of the Jul 19, 2021 low...and we just entered an LVA. $19ish looks to be the next resistance level.
Looks like we have a C&H that has formed and should propel us into the next range higher. TP on this is 1677 but I think we should make the HVN about 1700 before any major resistance.
GRT has a nice C&H that has formed and looks to have a solid TP of 0.1171
CHZ has a C&H that has formed above the 21D EMA. CHZ has a C&H that has formed above the 21D EMA.
The BTC double bottom has the potential to do some BARR action through the LVA to test 24k again. We could also see a 3rd bottom form depending on how low we swing before getting there. Although less likely than holding 21,500, the 3rd bottom is possible.
There you go, I'm sticking my neck out & calling the bottom. Sure, we could always go lower (fukn Pena always says "ZERO!") but we "need" to hold above 13,870 because that's the SH from 2019. The double bottom could become a falling wedge, but I'm leaning towards not. If it did, i would still expect to pivot higher than 13,870 (no overlapping wicks). Different...
Mapped out what seems to be the weekly EW counts since 2017 and noticed a few things that I hadn't before: Orange is RVWAP Yellow is WMA 1. Consolidation ends (bottoms) above the previous wave #1 high. (purple) 2. Final drive to the bottom is from the RVWAP to the WMA. (red) 3. Tacos are tasty! 4. I'm looking for a double bottom in the green box before...
Taking a closer look from the last chart: 1. LVA's are low volume areas and prices will typically travel faster through these 2. CME GAPs were made on the way down and are likely to be filled on the way back up. 3. 63D from bottom of last comparable bear flag to top suggests comparable time frame for this flag. 4. Last drop distance measured gives us a...
Just a quick look where we are currently. 14,200 looks to be the max pain # from an EW perspective, so I would expect the bear flag we are in currently to conclude with a double bottom about 18,500 or another type bottoming pattern with LL above 14,200.