imkeshav

imkeshav Updated 

The last time the daily RSI was this oversold was in Aug12 after a 225 day downturn, the price then made a 50% jump, corrected and did 200% (green arrows). Its been 400+ days since then and 175 days since the local top and RSI is again at that level Also on the weekly RSI we are All Time Low (oversold) It is fair to assume we can see at least a 40% jump What...

imkeshav Updated 

We appear to be done with a ABC correction after the 5-wave (green) move up. Also the correction is limited to the red channel. In addition, RSI appears to have bottomed out. If we don't make lower low, there is decent 5:1 R:R trade Extended Target2 is the red box Invalidation: Losing the red channel and make a lower low

imkeshav Updated 

Similar to my recent posts on $ETC, $ETH, I see BCH on the last leg of this 6 month downtrend in the form of 5th wave of a leading diagonal. Expecting a drop to $160-$170 and then an easy 50-70% rally for the next few weeks (2 months?) However, leading diagonal signals the beginning a new bigger downtrend and I expect the price to eventually drop below $100...

imkeshav Updated 

This was request from a friend, so decided to update here Overall we appear to be posed for a decent hike, the correction has reached bottom of channel which also happened to be 0.618Fib of overall correction, a usual turning point for correction Bullish Bias: A large ABC correction is already done where A:C = 1:1 (Note the C?), ending near 0.618 and channel...

imkeshav Updated 

In many ETC looks like an indicator of what is to come for the alt coin market. At a macro scale, we are done with 5 waves (blue) by end of 2017. Most analysts believe the early 2019 rally to be the beginning of a new bull run But 1. 2019 rally appears to be corrective as 3-wave 2. Green C is 1.618x of A similar to Red C is 1.618x of red A 3. Recent drop went...

imkeshav Updated 

At a first glance on the weekly chart, it looks like ETH is done with its impulsive 5 waves bull rally of 1.1 million % growth starting from Aug 2015 and Ending in Jan 2018, with 2017 being parabolic which is congruent with an extended 5th wave Here is why I think this is a perfect textbook style 1st cycle of 5 waves 1. We can see clear 5 waves (in...

imkeshav

After the 5 wave til the top of Dec '17, we are in a correction. Unlike many, I believe the correction is still not over, I'm considering 2019 rally as a bull trap and a typical B wave in EW I expect the correction after a 5 wave to go till 50% retracement or 0.618 Fib. 50% retracement here also gives A:C = 1:1 which is textbook and also as the bottom of the red...

imkeshav Updated 

We have 5 waves (green) done and there is bearish divergence with RSI making lower low on the 8H timeframe. The 21 Weekly MA acted as resistance above $300 and rejected the price. Optimistic Scenario: This 5 wave is beginning of a new rally, and we correct to 0.5 Fib ($250) or 0.618 Fib ($230) before we make new highs (bove $310). The 50 WMA can also support at...

imkeshav Updated 

The 9k support which held for 3 months shattered, it will now act as resistance (red bar) We lost support from 21 weekly MA + 200DMA, next support is 50 MA Weekly RSI dropped below 50 after 6 months, should drop to 30 The next support area (green box) has confluence of - 50 WMA - 50% Fib (of 3k to 14k move) - Horizontal support in 2018 There should be...

imkeshav Updated 

We appear to be done (or almost to $13) for the correction. An ABC will mark the end of it, and a 1-3 (my bias) will only be a temp relief for wave 4 bounce. Either way, there should be a bounce of 15-25% Target1: Blue Box Target2: Red Box Our last chart 3 months ago to EXIT BNB hit our target at $17 (see linked post)

imkeshav Updated 

This bounce looks corrective and confined within the black channel aka bear flag represented by WXY and each of that can be decided by a 3 wave pattern ABC. The final ABC also looks done with A:C = 1:1 and price within the red channel, with 5 waves (blue) done in the C wave To be safe we wait for confirmation below the 4th wave at $182 The Fibs of WXY are...

imkeshav Updated 

We've been tracking this chart for 2 weeks and till now its going as per plan. Now the recent move down and bounce appear to be wave 1 & 2 of red wave (5). Note how we are getting resistance at 0.618, which is typical of wave2 confirmation is below wave1 Stop is beginning of wave1 Targeting 20-21 cents Previous plan

imkeshav Updated 

The bearFlag 2 breakdown will take us to $40+ and the golden zone (0.618) which is a good reversal area

imkeshav Updated 

This can be considered as a large WXY or a 1-5 waves. Either way there appears to be one more drop considering that we also have a bear flag Alternate count

imkeshav Updated 

The similarity of the fractals between 2017 and early 2018 triangle consolidation is obvious, 2019 saw a parabolic rise and it topped out at the end of June, since then we are in a descending triangle of consolidation. A repeat will cause the market cap drop by 50% from here RSI on the weekly is on the verge of breaking below 50 (red arrows) after a double top,...

imkeshav Updated 

We appear to be done with 5 wave impulse, which is usually followed by an ABC correction. I'm expecting min correction to 0.382 Fib (green box) or ideally to 0.5-0.618 Fib (C wave)

imkeshav Updated 

We have a large Head n Shoulders formed and the price is on the verge of breaking below the neckline. The volume also supports this possibility. In Elliott Wave, this is mapped with Wave3, Wave5, and WaveB as left shoulder, head and right shoulder respectively. From wave count as well, we appear to be in the beginning of a C wave down to complete the overall...

imkeshav Updated 

Any price movement that is confined within a channel is considered as a corrective 3-wave move in Elliott waves, and clearly this is an ABC move up, also A:C = 1:1. Also the preceding move down appears to be in 5 waves This means that this rally is a counter-trend move and the real trend is bearish long-term, where we are currently in the B wave of a larger ABC...