8K CRACKED TODAY!
We are ABOVE Target1 and looking at Target2@10k for MINIMUM REACTION on this move while monitoring HSI and AmpRSI out of the PRZ.
Please review prior post as this POTENTIAL REVERSAL ZONE (PRZ) is the 2nd Bullish Bat on the weekly.
ALTS ARE ROCKIN' TOO!
This is not to be ignored!
HODLers Class 2018 are about to get their money back...
Followup from last post: Looking for retracement patterns like XRPUSD in the past would usually provide reactive opportunities against critical pivot points but clearly in the environment we are dealing with this is not business as usual. Let's look at the failed PRZ. We had/have 4hr Bullish Bat @HOP with HSI (Green Arrow) = a setup I look for in every PRZ. HOP...
Yes, SNAP has SNAPPED.
SNAP broke out yesterday and has confirmed the MAJOR AB=CD support.
I have posted a series on the company t hat has pinpointed its journey down to under 15 to the BIG BULLISH REVERSAL now in full mode.
Now, PRZ is confirmed, 1st stop 19 then bk to 25.
Stay long and get ready to ride.
Several months ago, I posted a 30-week cycle projection that targeted 545 by January 31st. The price target was obliterated and the trend is now accelerating to a MINIMUM 3.14 extension at 1130. The recent breakout has triggered the move which has the support of EXPANDING RSI on the Daily and Weekly timeframes. The 30-week time projection is still valid but the...
My last post a month ago on LTCUSD outlined the targets hit above 150 that represent harmonic extremes. The price doubled from there but has consolidated to setup a continuation within the framework of harmonic pattern structures. Much like BTCUSD , LTCUSD has triggered a harmonic pattern that targets a MINIMUM RETEST OF THE PRIOR HIGHS. Meanwhile, the RSI...
I took a break from posting on crypto to focus on the trading action during the MASSIVE EXPLOSION during December that took prices above and beyond all extreme harmonic targets. Now, BTCUSD has paused for a few weeks since peaking shy of 20k AND IT IS NOW READY TO RESUME THE UPTREND . I am still sticking to harmonic pattern framework, assessing immediate...
Ethereum ETHUSD has finally caught up with the Crypto rallies but it has retested critical harmonic resistance.
I posted two patterns a few months ago.
1. The Bearish Bat yielded a 30% correction on the initial TYPE-I test and it has now retested the Bat PRZ now sitting above the 400 level.
2. The larger Bearish AB=CD outlined in prior posts defines the upside...
Harmonic patterns serve as a framework to assess trends and price action.
I introduced the concept of "signposts of future price action" that patterns espouse in my first book, "The Harmonic Trader." This means that patterns can define targets for primary trends as well as serve as countertrend reversal zones. Over the past several months, I outlined the...
Harmonics are working incredibly well with these movements and LTCUSD is the best pattern structure available!
As a derivative of BTCUSD, Litecoin is simply riding the main Cryptowave.The current situation since the last post is now fully confirmed! We now have a Butterfly structure @ 133.
THESE ARE MINIMUM TARGETS!
I posted several days ago to reenter LTCUSD...
As I posted previously, I bailed on my Cryptos 2 days ago.
BTCUSD @ 8300: still here. Watching but it wants 10k.
ETHUSD TypeII 88.6@380: now +80 Higher = The Education (look for reentry via ETCUSD?)
LTCUSD = Sell @ 72 now 4 points higher ...The Lesson: Learn from ETHUSD
One thing about harmonic patterns - it doesn't take too many examples to see...
Over the past few weeks, I have outlined the rise to 8k as an important upside harmonic target.
I even suggested in my prior post that a 30-50% correction was likely before moving higher.
The price dropped 29% from the peak immediately after the AB=CD@7880 completed only to rebound 30%!
As difficult as the hype can distort expectations, I have outlined the TYPE-II...
I outlined the harmonic resistance in the 8k area. The AB=CD completed at 7600 while the Bearish Three Drives at 8250. The market topped last week just shy of 8k - 7880 exactly. Despite the fact that the Bearish Three Drives fell just shy, this recent peak IS an important inflection point that will lead to a larger correction. As I said in my prior post, a...
The 8k Target I posted about 16 days ago is now within reach.
What to do?
8k is the target with slightly higher objectives (8300-9k) - unload at or just above here.
If you are a trader, you know it's time to take profits.
If you are a hoper/holder, prepare for a 30-50% haircut before going higher.
This is how EXPONENTIAL MOVES correct.
No matter what, BTCUSD , ETHUSD , LTCUSD and other Crypto markets will go through many 30-50% corrections as these entities grow. I have focused on only a few markets in my TradingView posts to feature particularly distinct harmonic behavior, i.e. SNAP , SPY, other FX. I have outlined both long and short harmonic opportunities in these markets but I have found...