floring67

floring67 Updated 

I've noticed we had a "morning star" pattern on the 1h chart, combined with a bullish MACD cross. That would mean a bullish retracement of Elliot wave. However the volume is low, the RSI is still small (43 at this moment) and the momentum is small. I doubt it will succeed, still staying away.

floring67 Updated 

The H&S pattern was confirmed, but the way down was stopped on the support line at $6600. Let's see if it holds, I think it won't, given the size of the H&S. We will most likel build a bear flag and continue the way down. There will be another support zone around $6400, the only place where the way down could be stopped.

floring67 Updated 

Looks like a big head & shoulders pattern ls very likely to be formed (the shape of a corrective Elliott wave would suggest it too). If it will happen, we have big chances to hit $6200 or lower, since I didn't identify any important support until $6000.

floring67 Updated 

The 12345 Elliot wave is failing to push us towards $7700-7800 as it should have. There was a resistance line formed long time ago at ~$7360, which became very strong with the recent ups and downs, which no TA seemed to notice. Even the grey all times minima line, which became supportive when we crossed it above, seems not to be strong enough to prevent the H&S...

floring67 Updated 

This way I see the current Elliott waves until now: a big ABC wave targeting $5400, with a ABCDE subwave on the big A wave. I see many TA's trying to identify little waves and fit things that don't seem to fit trying to predict a bullish evolution, but in my eyes this fits better. The latest jumps were only pumps, they happened in the same time as some shorts and...