I took some time to properly measure all the extensions of the motive waves and came to this wave count.
In the bigger picture I assume this is to be the final V wave of the super cycle which should start the major correction in the coming months.
Right now I am expecting price to move down and bounce on the green support zone and to make the final V wave up...
We are expecting sharp move down if this is the Running Flat correction. This correction leaves many people clueless because its B wave is bypassing the starting point of the correction. Once it touched 1.618 it confirmed to be possibly Running Flat . Once we start dropping, some may think its going to collapse. And bearish outlook will deepen. Move could be...
having this macro view of dollar index to decline heavily till next summer. That means probably serious wealth transformation.
I would consider block chain technology gaining ground and ofcours precious metals specially silver.
Here is my understanding of patterns and possible scenarios for coming weeks.
Besides of economic crisis markets are actually bullish for now and I do not see massive selloffs on the way yet, only this C wave is setting up for next and I am planning to profit from it!
So by the rules we are on the last leg of Butterfly pattern which has a completion...
This chart seems to have more bullishness in it. First targeting 73% and then potentially 83%. That means holding BTC at the moment is more profitable. That being said I am expecting bitcoin to outperform Alts.
It looks to me that one market cycle is at its completion and sellers are going to return. I am expecting one more push up to reach that 786 level. This gives me butterfly alert in the future which takes us new all time highs.
This up trend looks like 5 wave move so expecting 3 wave move down.
I started from scratch and did some measuring once again. It is probable that we have completed 1st wave for now and starting ABC correction against it. I have labeled those main corrections and waves on my chart. Even tho I have more bullish counts considered, this one is supported by good sell volume.
7200 is 50% retracement which is the most probable...
I recently posted two different views on Bitcoin and I said that we might be in for extended 3rd wave in the 1st wave of larger 3rd wave. (Elliot is not that complex if you learn the rules and ratios)
Even tho I believed that this is less likely to be the case, market proved me wrong. By the end of this week I measured the end for this 3rd extended wave and i...
This is my more bullish view. What if we are in the extended sub waves and on the way to 11k. Ether way I am overall more bullish and expecting higher prices in the near future. This is my second probable count. Still believe testing 6K more likely to happen.
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Trade with care!
This is a little bearish idea expecting price to move into C wave and retest that 6k level. We have resistance level and completed butterfly pattern. Nice level to short but be aware!! There is more Bullish case and I will post it in my next one!
Oil price is in Bear territory and despite manipulation of war acts we can expect it to fall in the upcoming years. I am a little concerned of what will they come up with, after bears are finished, to turn the trend around. Military actions are likely.
As of now I am looking to progress in B wave down and then C wave up that will complete 2nd...
Its been a while since I have posted anything. I am very interested in Major correction in stock indexes since I believe that the blockchain is here to change the game. Current chart in my opinion is representing the final 5th wave of the bull market. I am using fibs and Elliot rules to navigate in the price action.
1. I find we have 4th wave in the making...
As traders we are getting constantly new data and we have to reset our analysis.
As far as I see we have reached almost the bottom but have possibility of going bit lower to finish C move of that year long correction. I think we are in the 4th wave of this five wave move. Since the 2nd wave was more complex ABCDE pattern then I am expecting 4th to be...
I have identified potential trend continuation pattern. It looks like market has completed ABCD with 1.27 extension to complete 38.2 pullback. We have also edge for stop loss and if market gives second test without higher close on 1h its planned to short and take on risk reward ratio 1/5.
Not an investment advice!
All the best!
I used my fib skills and measured bitcoin form zero to ATH. Now we have levels and 78.6% has nice confluence with 1.13 extension of first leg of pullback. This is also where the 4th wave of the big impulse up is located and it is very likely that we shall see that 4200 level approached. I believe thats gonna be the bottom.
All the best!
I find that most of the crypto charts are in second wave correction and we are on a half way. So there might be another sell coming before the bull ride can begin.
Thats my current view on ETH