Here we are approaching the macro downtrend line and you can see we've breached it on the linear chart.
I believe momentum will slow here until we establish a break and hold above the logarithmic chart downtrend line.
Once we break these lines and hold above I believe Bitcoin may start ranging and ideally alt coins will start to flourish.
I expect to see a...
Two calls in one!
Accumulate between 157-167 if possible with a stop loss of 147 for targets of 241 and 275.
Or trade the breakout at 190 for same targets, use stop loss of 174 in this case.
(R/R 3.93, 11% stop loss, use up to 10% of stack for this call but be gentle on this low cap coin)
Just realized I hadn't updated this in a while. I flip flopped back and forth between two theories I had before our recent ~40% correction, I was right the first time and then after talking with some people, my mind was changed. The thing about Elliott Theory is it's very hard to agree on wave counts, but in the end it doesn't matter. Just find the waves and trade...
$ARDRBTC #Ardor Advance Call
We finally hit Wave 5 resistance, now we start downtrend.
Accumulate between 67-91 for Targets of 184-287, Stop loss 55.
(R/R 3.99, 30% stop loss, scale in 3.3% or 6.6% of stack)
Happy trading :)
I've spent a lot of time on this as I continue my studies of Elliott Wave over the past couple of days.
Here is what I believe to be the most accurate depiction of this theory I've done yet.
It sets the stage for me, I can't seem to trade properly without having a proper projection of Bitcoin.
As we continue we can see how eventually we can reach $100k with...
Third time's the charm, right?
Wave 5 fibs were wrong in my previous BTC charts.
Wave 5 should be extended, in this case we take the measure of Waves 1-3 and Wave 5 targets are now $5513, $7077, and $9607.
When price hits the top of Elliott Channel.
Seeing lots of interaction at the top so I decided to reevaluate the scene with a composite chart...
I played the Elliott Analysis very conservative here. The measure for the targets is as shown. I used a value of $680 before because I could plot sub-waves that followed rules and most guidelines within Wave 1 as shown here...
Also check out my BTC Market Cap...
Thanks to fingerex (www.tradingview.com), he noted I got one point wrong and it all makes much more sense now.
Heinzz (www.tradingview.com) also asked "Can you make another chart projecting the parabolic channel into the future to where they meet?" - So I've extended the lines to show just that.
You can find Peter's post here: twitter.com
I've recreated it almost perfectly I believe.
Just thought I'd share.
I like the comments made in the Twitter thread:
@cyberamine12 - "What happens when the lines meet?"
@PeterLBrandt - "Bull market is over or market blows through the top in a final display of...
I believe this is what will fuel the fire all the way up to the Wave 5 Target 3 of $9426.
Measured moves up shown here.
If you haven't already, check out my Elliot Wave Analysis linked in Related Ideas.
$DGBBTC $DGB $BTC - Investor call (The call I should have shared from the beginning) - Accumulate between 100-130, Targets 240, 412. Current price is 119. No stop loss! (Absolute bottom is calculated at 70 ie. BTC shoots past $10k and $DGBUSD hits all time low)
DGB has held up well over the past 6 months. Will be a good hedge in the short term.