dRends35

dRends35 Updated 

Elliott wave and Wyckoff support and resistance: The "collapsing structure" break-down from the wedged top gives a clue that the trend may be coming to an end. Price trickled down to the Wyckoff support region to have a soft bounce just shy of support, then a hard bounce after tagging support. The 2 bounces appear to have formed an expanded ABC with the C...

dRends35 Updated 

ETH has been a big bouncer here and having printed large bullish candles, looks like it will get to the 0.618 at 3K and perhaps will tag distribution resistance. Once BTC is done floundering I think ETH will be heading down again, so could be a good short from resistance area.. Good chance ETH is in a B wave of an ABC to take ETH lower. Not advice

dRends35 Updated 

As per request YFII has been ranging since February, topping with punctuation similar to Bitcoin. There are a lot of bearish candlesticks here showing the overall trend is down and this domed shape will likely be a continuation pattern to the downside. Is there a chart you'd like to see?

dRends35

Amended count for Bitcoin. It is similar to the previous count in direction and target, but different nomenclature. Higher degree ABC finds a 1:1 target of $18K which is also where the next support block is - essentially the same as the previous count. How long it will take is very difficult to gauge. Although there may be another collapse, price has showed a...

dRends35 Updated 

As requested EGLD has had quite a bounce today and has broken out into impulsive wave up. It looks like this will be at least a 1:1 C wave to take price up to around $135 - $140 area where it will also find the 0.618 fib retracement from the top to bottom. Not advice.

dRends35 Updated 

Lets have a look at the two charts on top of each other. While Bitcoin trend was strong it broke above the pitchfork. Generally this is bearish in the short term at least because it will often become a blow off top as can be seen here. While Bitcoin was trending BTC.D moved up - showing strength in BTC against ALTS. But once price moved back into the...

dRends35 Updated 

VET has bounced out of a descending wedge and has printed quite a few bullish candles in a row. Price has also been printing some impulse minutiae as can be seen with this tidy looking impulse out of a contracting triangle. I am bearish on crypto overall but there could be a good bounce here. And there is the possibility that this could be THE BOTTOM ...

dRends35 Updated 

As requested Its a good moment to look at TOTAL. Price broke up from the Supply Trendline which is the perimeter of the re-distribution downtrend. And we wondered if there might be an ALT rally. But unfortunately price has rejected from some important landmarks: Price pierced a fast shooting star through distribution area resistance. Price faked...

dRends35

You heard it here first - Bitcoin heading straight to $-8000 as head and shoulders pattern reveals!!! ... Well - maybe not. However price is now in an area of heavy resistance from the left shoulder and also SOW that marks the perimeter of the distribution area. If price does back down in this area (and I think it will) then a standard measured objective will...

dRends35 Updated 

With BTC having a a bounce out of the blue and currently holding $40K, its time to look more seriously at the bullish case. In favour of continued bullish price action: - Buy volume increased during the uptrend for the first time in this correction - Price has not capitulated following the recent bounce. - This bounce could potentially be the start of Wyckoff...

dRends35 Updated 

ETH just like BTC having a Wyckoff Distribution top. Slightly different as 3 tops meant price reached UTAD schematic 1. Price should not exceed R3.

dRends35 Updated 

In crypto there is wave structure that doesn't exist in standard elliott wave literature and AXS is a chart useful to show this. Crypto volatility is much higher than markets observed by Ralph Elliott, especially in Altcoins that can be much more volatile than Bitcoin. Higher volatility encourages different wave structure. And there is a wave that only exists...

dRends35 Updated 

BTC looks to be in a Wyckoff distribution top. The giveaway is the "initial collapsing structure." This shows the trend is probably changing. A strong trend should not collapse below previous high. Price probably won't get above resistance 2. Then back to the downtrend.

dRends35 Updated 

Now ETH has hit 0.786 - this is really a sumptuous short for anyone thats been patient or dismissive until now. Not advice.

dRends35 Updated 

Massive star fakeout and a great short right here. Not advice.

dRends35 Updated 

As per request SOL is approaching the capitulation spring-board here and I think price may bounce around $5. Short at current price to $6 area to avoid support bounce. Invalidation above previous top. Not advice. Let me know if there is a coin you want charted

dRends35 Updated 

Title says it all.

dRends35 Updated 

Bitcoin looks to be forming a wick through the 0.5 fib on the weekly candle - taken from the significant local high to low. These algos seem to be very orgnaised within the various timeframes and the close is often a juncture for reversal. Very probable this bounce is done in the 0.5 fib area and price will be back to dribbling downward next week. Not advice.