In the previous thread, the divergence effectively signaled the end of the upside (blue wave 5). We´re now in full pullback mode, and I expect price to reach the yellow box. A reaction from this zone could be a bullish indicator, but let´s wait for clear price action before any moves.
We had a false breakout above green resistance, which was quickly brought down by bears. Strong support at 5.70-5.80 is holding the price for the time being, and this is crucial for bullish hopes. There are several wave scenarios that could be applied to this, but for now I'm keeping my previous count, with an adjustment for blue wave 2/B. Invalidates below 5.150.
In mid-March I posted my primary count for Bitcoin, which is bearish, considering that we are in an expanded flat which would take us down to the 15k level or lower. We even have a classic false breakout above massive 29k resistance, to catch some late FOMOers. So what´s next? First of all, remember that Elliott Waves are not magic predictions, and they must be...
Following up on my last ATOM post, the yellow zone is serving as solid support. Price has broken the top channel trendline and has just retested it. If we get a bullish follow-through, we may see an impulsive wave all the way to $20.
We had a very solid upside movement, as expected (see related post), and have been in correction mode for the last couple of days. Despite the selloff we had in the last 24 hours, the bullish wave count is still valid. I'll only reconsider the count if the break below 316.8 (green wave 1).
I´m looking at a leveraged trade opportunity on HBAR upon break of recent top. First partial profit target would be 0.07243, but there is potential for further gains. My plan is to take 1/3 profit at this level and decide further targets based on price action.
In my primary count, I´m considering that last November´s low at 0.094 to be this token´s bottom. We would currently be in the final stages of black wave 3, and considering that we are in oversold territory, I´ll wait for a pullback before taking a trade (ideally black wave 4).
Even though I'm keeping my bearish wave count for now, I expect short term bullishness for a test of 2295, confluence of: 100% Extension (light blue) Previous support, now resistance (gray zone) 61.8% pullback
Price broke and retested 0.233 resistance, and we're now looking at the following upside targets: 100% extension at 0.02677 Gray resistance around 0.028 161.8% extension at 0.03189
So far, price action as followed very predictable levels. As expected, we had a bullish movement that broke 2.40 resistance, now support. This level, together the bottom of the rising channel, should keep price away from new lows. Note that the middle of the channel is acting as resistance, but its more likely that it will eventually be broken and the top of...
A solid bullish candle has ripped through 0.64 resistance, and I expect a new higher high above 0.8427. My invalidation point (or SL if you plan to trade this) is 0.5440. I'll take a trade if we get a pullback back to gray zone, former resistance, now support.
This is my view on Bitcoin for the 4H timeframe. This is why I still expect another leg up above 31k.
ICX's price drop did not reach the previous all-time low from 2020, and we could be in the first wave of a new uptrend. My primary count considers that we are currently in blue wave 5 of black wave 3. Therefore, I expect a text of 0.50 before another pullback (which would be black wave 4).
If you're into technical analysis, you should master trading wedges, because they are pretty trustworthy patterns. In TrueFi's case, the descending wedge went on for a few more days, and we finally got a breakout, above the wedge's top trendline and above gray resistance. I'm short term bullish on TRU, and expect initially a test of blue resistance at 0.0821. ...
SOL Broke the trendline to the upside and is gaining bullish momentum. Next step in my playbook is a test of gray 26.80 resistance. Considering this is a strong resistance, and the stop loss for a long trade would be below 19.50, I don't see a trade right now. I'll wait for further price action for a setup that gives me a better risk reward ration. If gray...
We have broken out from what I'm considering to be waves 1-2. First upside target is the 100% extension at 20.37. If the current count persists, the upside could be much stronger, targeting 30.00 initially. But... let's take it one step at a time and see what price action tells us.
Price continued its upswing as expected, and we're breaking the orange resistance zone. First upside target is the 100% extension at 0.4793. Second target is the pink resistance eat 0.5200.
Expecting a swing to the upside Limit Entry @ 0.8521 SL 0.8044 TP1 0.8999 TP2 0.9473 TP3 1.000