dRends35

dRends35 Updated 

MA's show price is falling down a mountain, or perhaps a waterfall. No stable ground. Regressive all the way. When I shorted back at $4.1K I gave a price target of $500 and nothing has changed - it should easily get there, perhaps go quite a bit lower and one day be a great long. We'll see.

dRends35 Updated 

Ok so this may be the umpteenth re-distribution / accumulation you've seen by now and perhaps gritting your teeth at the sight of another, but having compared BTC with some re-distribution charts, it seems to fit best and perhaps more useful then EW counts - we'll see. Essentially the formation seems to have 2 distinct areas with "ICE" the separation, where in...

dRends35 Updated 

This is the elliott wave count I'm working with currently - a complex WXYZ with two contracting triangles. But take a glance at the two dotted lines and what do you see? For all its complexity this has been nothing but a long contracting triangle wave 4. Where does it end exactly? - I don't know. Price has moved passed the fib time target. However tightening...

dRends35

Following a strong motive rally with huge blow off top, SNDL has corrected to 0.618 Fibonacci retacement to bounce too 200Dma and is now holding approximately at 0.618 retracement again above the 200ma. Price could fall more of course, but sideways drift suggests correction is either done or nearly done. This is another WEED name with A LOT of trapped buyers above...

dRends35 Updated 

A nice little setup happening here. ETHBTC is topping and has retraced back to 0.618 of the previous sell off. In addition there is an ABC 1:1 price confluence also hitting the same area at 0.618. Could price go higher? - of course anything can happen, but there is plenty to make a case that price reverses right here right now. In addition: 1) BTC appears to be...

dRends35 Updated 

DXY has tagged the upper trenline of a contracting triangle and LTF movements look weak now. That said the circled candle reveals where price wants to go: The fastest move dicated the dominant trend. This HTF reversal will take some more x axis action first though with maybe another touch on the lower trendline which could be good for stocks. Not advice.

dRends35

VIAC having run up a mountain to fall off a cliff is finding long term support on the 50ma and trending just under the 200ma. Its almost as if the mountain didn't happen, and price could well continue on up and find a rally down the road. That recent little impulsive pop through the 200ma shows where price wants to go I think. Not advice.

dRends35 Updated 

The tide looks to be turning long term for Fiber, but it looks to be forming a wedge here near the boundary of a longer term contracting triangle. Good chance it bounces soon I think and will allow a better entry for a long term hold to the downside. Not advice.

dRends35 Updated 

XOM trend breaking down here. Having tagged long term resistance price appears to have formed an initial collapsing structure that could signal the start of a bearish trend . Volume decreasing and bearish divergence also. Might open a little short on this if price bounces to recent 0.618 / 0.786 of the local sell off for good RR. Looking for an easy no heroics...

dRends35 Updated 

This is definitely my most bearish thread against the grain so let me explain. I've been working on a method using elliott wave with fibonacci price and time projections. I'm sure this is not unique but I don't know anyone using the trend based time method I am using and I have backtested it, also with GOLD and it is accurate. I like to be the early bird and get...

dRends35 Updated 

Guys, my shorting options have disappeared for crypto so I'm going to take a little break, but I'll be back soon enough making more crypto charts and probably some calls in other markets. There are a few stocks coming into bloom that I'd like to cover. For Bitcoin, as much as the bulls are pounding the table for accumulation, B waves up to 40 - 50K etc, for me...

dRends35 Updated 

After a very large and sudden 7% drop, GOLD has not bounced at all and has become trapped within a tightening price band suggestin bearish continuation. 4 hour MACD is curling over towards the centre point suggesting a reversal may be coming soon , perhaps as DXY makes its next move. If price is in an ABC then next target is not $1.6K area. If its a wave 3 then...

dRends35 Updated 

COIN has had a little bounce following BTC bounce and has hit 0.618 from the top of this corrective structure and also an ABC 1:1 from the local low. Should provide a good short entry here to hold long term. Not advice.

dRends35 Updated 

Bouncy bouncy down and down. These little upthrusts get crypto Humpty Dumpty excited but they really mean nothing unless a sustained move out of the channel comes with impulse and it doesn't look likely. If/when price reaches the horizontal channel I expect it may act like SOW + AR channel in the previous Wyckoff distribution top and will open the gates to a...

dRends35

ETH is deep in trend whilst Bitcoin is brushing up against the 4hr 50ma. My thesis is that that trend is (quietly) on, moving out of the long consolidation and it will start to accelerate downward into the next capitulation soon enough. I'm short right here and may add as the plot thickens. If BTC suddenly looks very impulsive I will exit, but it doesn't look...

dRends35 Updated 

...the 4hr 50ma. And if it does it won't be by much. That's my throw at the board. BTC is in a downtrend. No more bouncy castle. Not advice.

dRends35 Updated 

BTC looks to be locked in a downtrend for now. It has had a 0.618 bounce and could be a suitable short entry. It could of course bounce on a higher degree passed this point, but bringing SL to breakeven will solve this issue for those that like tight control. Invalidation is above fib:1 Not advice.

dRends35 Updated 

ETH looks to be locked in a downtrend for now. It has had a 0.618 bounce and could be a suitable short entry. It could of course bounce on a higher degree passed this point, but bringing SL to breakeven will solve this issue for those that like tight control. Invalidation is above fib:1 Not advice.