Crypto Market Cap, BTC/USD, ETH/USD, USDT/USD, XRP/USD, Bitcoin
Apple, Advanced Micro Devices Inc, Amazon Com Inc, TESLA INC, NETFLIX INC, Facebook Inc
S&P 500, Nasdaq 100, Dow 30, Russell 2000, U.S. Dollar Index, Bitcoin Index
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
IDEA 1 Wave 1 - Extended (50% of rally) Wave 2 - Shallow (0.236%) Wave 3 - 100% Wave 4 - 50% Wave 5 - 0.618% ABC - 50% IDEA 2 Wave 1 - Impulse (0.382% of rally) Wave 2 - Shallow (0.236%) Wave 3 - 1.618% - Extended Wave 4 - 50% Wave 5 - 0.618% ABC - 50%
Longer term forecast with 2 possible (OVERALL BULLISH) routes heading into the coming months.
OVERALL BIAS = BULL 1. UP TO 1.97-1.98 2. UP TO 1.95 (FAVE) 3. DOWN TO 1.89 4. DOWN TO 1.865
If some bearish divergence shows up on the daily chart we could see some downside to 30k where I'm sure a LOT of interest will be waiting. ================== Please take it with a pinch of salt as we all know that ANYTHING CAN HAPPEN.
Looking for shorts today, pushing deep down to 1.85.
Two possible routes for Intraday shorts during 6th Jan 2021
ABC correction down to Weekly Demand area. Confluence with 0.618 Fib, ABCD 1.0 and 1.23 handle
ABC correction down to Monthly Demand area (navy). Convergence of 61.8Fib, 1.618 ABCD and 1.10 handle to firm up area further.
As per the previous Idea (link below). Looking for ABC completion down to 50% of previous 5 waves up on DAILY. We have made it about halfway down so far.
Expecting a retracement into Weekly Demand coming from a very strong Monthly Supply Zone
Even though there could be further upside on the Gold this week (a possible pump to 1800), it's hit all the Fibonacci numbers and it is a healthy way into a Monthly Supply zone (blue shaded area) so an ABC down could be on the cards. (See diagram)
Could be a pullback to Demand area before continuing up to Wave 5
Some short-term trades to watch out for. A possible move up to the fresh 4 Hour Supply 1 zone, pushing it back down through the tired looking Demand 1 zone (Good place to take some off) onto Demand 2.
Heavy Supply and Demand zones. Bit of ping pong with price.
With the price hitting a huge weekly Supply Zone, it's feasable to see a push down to find some liquidity