Hey guys, Cryptos are recovery, but there can be some slow down on btcusd here at 58-60k area. Support is at 52-52k, while break below 50k is a trend changer; not only for BTCUSD but even others. I will also look at bch and dash. Enjoy. Grega
Hello traders and investors! In this article we want to update our previous CADJPY chart, where we mentioned and highlighted a completed W-X-Y correction and bullish reversal. As you can see, CADJPY is trading nicely and impulsively bullish as expected long time ago and the main reason is also a rally on Crude oil. We see room for more gains within an extended...
Cryptocurrencies are moving higher and it can have something to do with President Joe Biden who blamed Republicans for blocking efforts to raise the U.S. borrowing limit. Keep in mind that more USD, more printing, more US debt is what drives the value of the currency lower. The USD is losing power and as an alternative and speculation to the USD traders will turn...
USDJPY finally breaks out of a triangle as both SP and US yields rally. Keep in mind that higher Yields are positive for the currency, while risk-on means depreciation of JPY, especially now when BOJ is not ready to take any action on interest rates. Based on their recent statement, they will most likely maintain stimulus in the next few years. Technically I...
Hello traders! Today we will talk about NZDJPY pair, its price action from technical point of view and wave structure from Elliott wave perspective. As you can see NZDJPY is trading bullish, ideally within a five-wave impulse from the March 2020 lows, mainly because of current slow price action and corrective wave structure with perfect support at the 50% Fibo....
Hello traders! Cryptocurrencies are resuming it's weakness and starting to accelerate as stocks go to risk-off mode. Looks like there is room for 37-40k area, afterthat you have gap near 33k. Have a great day. GH
Hello traders and investors! Crypto market made sharp and impulsive decline from the highs after a completed 5th wave as we have been warning about in the last couple of months. So, we ideally see it as part of the first leg "a"/"i", which means that current rally should be as part of an (a)-(b)-(c) correction in wave "b"/"ii" that can find the resistance here...
Hello traders and investors! Today we will talk about Dow Jones Industrial, in which we see quite clear and very interesting formation. We are talking about an ending diagonal (wedge) pattern. Well, DJI is rising, but as you can see, it's very slow, so it's obviously running out of steam, which we see it as part of an ending diagonal (wedge) pattern as part of...
Hello traders and investors! Today we will talk about single stock ZOOM, in which we see pretty nice and clean pattern. As you can see, ZOOM made quite big decline since October 2020 till May 2021, lost more than 50%, but it looks like a three-wave a-b-c correction within a higher degree wave 4, especially if we consider recent strong and impulsive bounce from...
Hello traders! Today we will talk about Crude oil and its positive correlation with CADJPY currency pair. As you can see, Crude oil and CADJPY are in tight positive correlation and both made a complex W-X-Y corrective decline from the highs with nice and strong support from April/May. The main reason why they are correlated is because Canada has one of the...
Fed's Kaplan noted that they are watching Delta variant, and says he may need to adjust view regarding tapering. This is very important for speculators who were recently betting on the USD as this can limit the USD strenght if it proves correct. In such situation traders may turn back to gold where price recovered back to $1800 and even erased all of the...
Stocks are coming down, and if they will start accelerating then I think this can have a very bearish impact on cryptocurrency as well. "It's hard to hold an investment on very speculative and volatile coins if you are already panicking with much more "stable" investments." So at this stage and with this structure it's very hard for me to look for buying...
Hello traders! Today we will talk about DXY- US dollar Index, which we see it finishing five-wave cycle and approaching strong March highs resistance zone. Well, USD IS still strong, but it's now moving into some late stages of a higher degree structure. We are also in the mid of the week when flows can change, especially when you have the FED minutes. Keep in...
Hello Crypto traders! Today we decided to take a look on BTC Futures chart, mainly because of its open GAP in MAY, which can now act as a strong resistance area. Well, as you can see, BTC made five waves down from the highs, which in Elliott Wave theory indicates a change in the trend. After every five waves, a three-wave pullback follows and as you can see, BTC...
Hello traders and investors! Today we want to update our SP500 against GOLD, SPX/GOLD ratio chart, which we see it now breaking 2018 highs, clearly within an extended wave 5 of III, which means that we should be now aware of a pullback that can cause limited gains on SP500, while GOLD may become supportive. Notice that GOLD is currently trading at strong 2019...
Hello Crypto traders and investors! We have seen a bigger recovery in the Crypto market, but mostly due to BTC and ETH, while other ALTcoins remain quite slow and weak. The main reason is BTC.dominance which is kicking back in. Now that cryptocurrencies are in the mixed recovery, some stronger, some weaker, it's important to keep an eye on Crypto Total Market...
Hello Crypto traders! We just want to update previous BTCUSD intraday chart, where we see pretty nice intraday A-B-C irregular expanded flat correction within wave (B)/(2), from where we should be aware of another decline for wave (C) of a correction or wave (3) of an impulse. Watch out for another sell-off ahead of the weekend. Be humble and trade smart! If you...
Hello Crypto traders and investors! Today we will talk about Bitcoin, its price action from technical point of view and wave structure from Elliott Wave perspective. As you can see, BTCUSD has completed intraday five-wave cycle and after recent sharp decline + broken channel support line, seems like BTC is turning back to bearish mode, at least in three waves...