Mycomorel35

Mycomorel35 Updated 

It would appear we have completed a wave 1 leading diagonal. The real question is how much of a retrace will we get here... BTC has a history of shallow wave 2's so at the most I would think that 40k level would be the last chance to get tickets to the moon.

Mycomorel35 Updated 

That was a very nice pivot off the .5 retrace yesterday for the completion of wave 4 of 3. Looking strong this morning and will likely push to the 2200-2300 level, but by the end of the week I would be looking toward ETH's current level around the 1700 for a wave 4 of 5 completion before pushing above 3k into March.

Mycomorel35 Updated 

This is a continuation of last weeks TA posts, Hold your breath. Now that we are closing in on a reversal. Lets look and see what this weekend is going to offer. So far this structure hasn't formed exactly how I imagined it would and has raised some concerns for a much larger move down but we're not there yet and I'm always hopeful, that is the part I'm wrong...

Mycomorel35 Updated 

Chart shows a ending diagonal 5th. That's not a good sign. Unlikely that it's a begging diagonal of wave 5. I'm expecting a short term bounce from the 1100 area but it's likely that this bull move for ethereum is over for now. I would expect a correction toward the 700 area over the next few weeks. For all you Mooners out there don't fret to much if I'm...

Mycomorel35 Updated 

Good afternoon everyone if this is your first BTC run you're probably starting to worry but as every BTC veteran can tell you BIG reversals are normal and are a great OPPORTUNITY. So lets look to see what the charts tell us. As you can see from the main chart I see an ABC correction is in progress. If you view the ETH cart you can also clearly see that the move...

Mycomorel35

Good morning everyone. As you can see from the chart ETH bearish move is still contained in the pitchfork I've had on my chart for the last few months. It would appear we are seeing the completion of the Y wave in a WXY correction. Showing clear reaction to pitchfork Expecting one more wave down

Mycomorel35 Updated 

Alright looks like it's time to get long on this market. The first real reversal candle I've seen in a while. Didn't reach my target of 370 and was stopped out of my short at 433 (19.1% profit). Looks like ETH is testing the local downtrend line and will likely consolidate before a move up. I will be looking for a long entry at 438 ( .618 retrace if I can...

Mycomorel35

Good afternoon everyone. I've been going over possible counts this afternoon and found something interesting. I've been expecting a reversal off this previous low but that reversal may not happen. The good news would be if this is the proper count then this correction will be over shortly. Okay so what is the target for a Bullish reversal and the end of this...

Mycomorel35

I haven't posted a bullish idea in a while and thought now would be the time. My primary count is still a Bearish ABC but I was re-qualify my count this morning and found something that changed my view. But here is where things get a little sticky. If I'm changing my count from a WXYXZ (which to this point has been very profitable for me), then I have to take...

Mycomorel35 Updated 

So far ETH is still following the path I laid out two weeks ago. It would appear ETH has just completed an ABC correction and should start to fall from this level toward the 350-400 level. We can see ETH has just been rejected from the downtrend line and appears to still be moving within the pitchfork of the downtrend channel Okay so what about a bullish count...

Mycomorel35 Updated 

It would appear that ETH has bounced of the low at 450 as expected (went past my target at 461). I am expecting an ABC pattern to form here before we see price push down toward 350 but great thing about this trade it doesn't matter bearish or bullish this should be a profitable trade. Simple EW theory wave 2 and B waves normally retrace between .5 & .618 of wave...

Mycomorel35 Updated 

Good afternoon everyone. Looks like ETH has failed to make an impulsive wave and we have an X wave failure that should dump into tonight. These are the clues I'm seeing It has the appearance of an ABC correction off the low at 508. So if that's the case where is ETH heading It would appear we should expect targets between 470 and 500 for an A wave...

Mycomorel35

Good evening everyone. Had someone ask for me to take a look at Litecoin so here you go. For starters this whole structure looks extremely bearish. As you can see from the chart above we can see a clear ABC correction with good subdivision that has come down in 5 waves. Yesterdays move down is a very clean 5 wave structure that doesn't leave much room for it to...

Mycomorel35 Updated 

Good morning everyone, hope everyone is enjoying a wonderful spring. I have been watching ETH for the last few weeks and have been impressed with the bullish nature of this coin. It's made me hesitant to trade this wave count as I feel it could push up from this level, although it seems unlikely. Currently it would appear we are seeing the 2nd of the 3rd wave...

Mycomorel35 Updated 

Good morning everyone. It would appear ETH is completing it's 3rd wave. We should see a retracement start by tonight. I will be laddering out of my long position and be looking for a short entry between 650-670, with a buy target between 575-595. It would appear we are seeing an ABCDE triangle that has gone impulsive. There is a possibility that this is the...

Mycomorel35 Updated 

Good morning everyone. Hope everyone is doing well, April is here and spring will be upon us soon. From the looks of the charts it looks like BTC may have seen it's shadow and we have a few more weeks of winter in front of us. As you look at the chart I have highlighted my wave count of what appears to clearly be a WXY correction. I will be playing this trade...

Mycomorel35 Updated 

Good evening everyone, Hope everyone is enjoying their holiday weekend. If you're like me you've probably been wondering is this it or will there be more red. I have been re-evaluating my count and looking at other counts and it looks like we have one more wave down before we can see a substantial move upwards. I have looked at these charts and waves for hours...

Mycomorel35 Updated 

Good afternoon everyone. Hope the market is treating you well today. Today we saw BTC do something we all hoped would never happen but all kinda new was coming. BTC broke through a trend line that had not been broken in over a year and it did it with conviction. It appears we are sitting in a 4th of 5th EW on our descent from $9,000. Unfortunately it would...