A little-known but extremely powerful piece of Elliot Wave Theory is that very often the 2nd wave terminates in the price area of the 4th wave of the lower degree. Looking at the subwave count, it is abundantly clear that this will most likely happen for LIT/USDT and price will bounce at or a little above the low of wave 4. The correction may be either sharp or...
If you draw the log scale channel, you can tell that price is at a very important point because it's testing a level that has never been broken before after having already extended wave 5 on the smaller degree to the upside several times. As such, I marked this as short because I think AXS will retrace some but after that I expect it to have one move even higher.
Be cautious. This token has no max supply and partially as a result of that has mad wicks meaning a stop loss may not be ideal. That said, we can still make a nice profit on it potentially. My past 4 predictions for this pair have been correct so this one likely is also.
This trade is based on the idea that Bitcoin will take a huge dump over the next few days, as well as the assumption that (5) has completed. It is a pretty safe trade since we will only enter a short once the triangle has broken out to the downside. (regardless of if it breaks to the upside, we are not interested in going long in the current market)
REN is in a great position to spike up to resistance and then fall down and probably break through support. This assumes that (5) has completed. It is worth noting this is a pretty aggressive and risky reversal trade since there is a triangle that broke out to the upside and there may also be an inverted head and shoulders forming.
There is clearly a triangle forming on the hourly chart for QTUM/USDT. I think it will breakout to the upside soon here but we should wait for high volume as well as 3 hourly candles closing in a breakout to get into any positions. This is to avoid being trapped in a head-fake situation where it dips right back in again.
AXS will retest the ATH before either breaking out and transcending into a new realm of existence or dropping back down again. There is a cup and handle that further validates the wave analysis as well. Invalidation price: below 1.40 Take profit: 2.37 (previous ATH) Please comment your ideas and like if you agree
My last idea is going well. I spotted a big cup and handle pattern along with another small cup and handle pattern that gives us a good risk:reward trade here. The stop loss is below the big cup and handle, not the small one. Note this is extra likely to work because it aligns with my Elliot Wave analysis as well as the pattern. You can also hold for a while...
Bitcoin is going to have to drop a little more because it's in a zigzag corrective pattern. It will be fast and painful as usual. After that completes there will be a nice big bounce to the upside as the trend resumes.
The major pump has either completed or has around 15% left to go. With that in mind, would you really be buying now? I think only buy now if you can take profits on the top but really it's a high-risk low reward trade.
Wave 5 completed awhile back so we are in a major correction in the form of a zigzag pattern. The correction is most likely targeting a 1.618 extension of wave a to the downside. Entry at the high of wave (ii).
I think this one is self-explanatory. I plan to sell half the position just below 2 and the rest at 2.40.
ETH has already basically done its dip. Now we will likely have at least a few months of relatively stable corrective motion that is not able to push much if any lower than we have already seen. At times like this, it's great to zoom out and look at the daily or even weekly chart. This correction likely isn't going to be nearly as long or as deep as the last one...
Our previous idea that AXS would break out of the triangle worked well for those that took shorts after the breakout. The new idea is to buy at this level and try to sell when wave 5 completes which should have at least 100% profitability. The risk is low because the lowest AXS can now go while maintaining this structure is 0.85 which quite notably is also the...
We don't know which way it will break out but that is irrelevant. Just wait for it to break out and be confirmed with high volume and then short if it broke down or long if it broke up :). Like if you agree!
Front has broken out to the downside of a triangle and is still working towards meeting the measured move. Since this is a newly pumping token I hardly think it could cut below the 0.786 retracement. This is a great area to buy and there is a potential for more than 650% upside! The idea invalidates if price somehow manages to push low enough to retrace all of wave 1.
There will be a breakout in the next few hours of this pair. AXS is extremely bullish but that doesn't matter right now. We will take an opportunity on either side whether it be long or short. To play conservatively wait for 3 candles closing outside for confirmation plus the high volume on the breakout. If it breaks to the upside, look to start dollar-cost...
Wave 2 has most likely completed here meaning that we will see a lot of upside over the next few days. There is also a small chance that we can go as low as the 0.786 retracement. Invalidation (stop loss) a little below wave 1 as usual. Take profit to be announced in a few days.