I am seeing less selling occur on Finex with the Volume Profile, and i think a 4HR close of a green candle will signal the party to continue.
Noted is a correlation of a fractal of the previous run to the 3rd Wave of this Elliot.
We can see through Volume Profile(Which is fucking amazing btw), that as we are approaching these key levels of resistance the sell pressure is immense.
Also noted on oneyearbitcoin the one year investors are down 63% of their money, which is a huge blow to confidence.
63% is above the 61.8% level, which is the golden ratio. This is problematic as it triggers...
1 Month candle still red in Heiken Ashi
Resistance from 475 to 342 not broken
Downward wedge still present
Still many lower levels to be tested of former holders
Long standing downtrend from 1M is still intact.
We have just completed our Elliot Cycle from 340 to 391 and now are experiencing a retrace in progress from this peak(5 up), expecting 3 down, a dip to 370, bounce to 380, then ultimately 360 which is 38.2% and very critical to keep the momentum going.
We are currently on a trend to beat our Resistances in 1W and 1M. Our first big obstacle is 390. 38x has been pierced and we will sit nicely in this particular channel for a bit. Once 390 is blown through we are looking good for our previous targets of 420/440 and the entire Downtrend breaker of 460.
Within the macro trend we may see falls that may look bleak, but i think the current 11 bar cycles as referenced by a friend(and now verified a second time by me) show that for the next 2 months we will be in a long term uptrend.
Credit to RomanoRNR for bringing this pattern to my attention earlier.
I believe we are in the process of correcting from our traversal up an Elliot Wave, 5 levels, and are now coming down, 3 levels in a Major Correction.
Currently C is undefined as we are still in a pronounced downtrend. I'm a firm believer in the "danger zones" of 23.6% and under, and believe for a stock to succeed it must not breach this zone, or rather, if it...