imkeshav

imkeshav Updated 

We are assuming a major ABC move up (blue) with C having 5 waves (green). We appear to be done with the 3rd wave and need to correct for the 4th wave before going up. Since wave 2 had a shallow correction (0.236 Fib), I'm expecting deeper correction of wave 4 (0.618 Fib). Note that we may get support at 100 Day EMA or 0.382 Fib around $140+ For a bearish view, C...

imkeshav Updated 

We have a yellow channel in the Weekly whose top is coinciding with a support line that is acting as resistance now, if this pattern plays out, the target appears to be the previous bottom where there is support. RSI is also reaching the midway mark where it was rejected previously However, breaking above this zone would be very bullish

imkeshav Updated 

The 200 Weekly EMA (pink) has rejected the price multiple times (red arrows) and will offer stiff resistance now. On the other hand, price crossing it (Bullish) will easily take us to 5k target. I have 2 green lines for support and resistance in RSI with arrows showing where price in 2014 took support and later found resistance after a short spike and made the...

imkeshav Updated 

This chart was posted in twitter (15th) expecting a push up to be stopped by the 50 DAY EMA (red box), and it did reject the price. Now in terms of the waves, we appear to be done with the ABC (green) move up and an assumption was that C wave can have 5 sub-waves (yellow). It is clear that wave (3) was very extended, so sometimes wave (5) will fizzle out early at...

imkeshav Updated 

The white arrows represent the lowest points or close to low points for BTCUSDSHORTS in Bitfinex and as per the last 11 instances in the last few months, anybody going LONG there will be a bad trade. The shorts are once again close to the bottom, so I believe there is a higher chance of the price dropping This chart shows the BTCUSDSHORTS and I marked the 11...

imkeshav Updated 

Assuming the recent hike is impulsive, we can assume 5 waves (white) and we appear to be done with the 4th wave considering that we got support at 0.618 Fib region of wave 3 (white) + 4Hour 50 EMA acted as support, and also wave 4 did not go below wave 1 top of the candle (wick overlap in EW is ok) The final 5th wave can be broken down into 5 sub-waves again...

imkeshav Updated 

In my previous post, I expected a decent hike to 5k which marks the 4th wave (this can still happen and so the question mark). But after the 2 failed attempts to cross the 50 Day EMA, this rally is weakened. No wonder the median (dotted) line is now appearing to be resistance. SL - $4100 It is possible that 4th wave has not ended and this could be the sub-wave C...

imkeshav Updated 

In our recent post we hit our mark when we expected BCH will break down from the triangle and take support at 0.786 Fib, it did take support but however it just appeared to be the the 4th wave (yellow) of this downward movement. We now appear to be in the 5th sub-wave of the 5th wave So going above $120-126 (use stop loss) will invalidate this wave count as the...

imkeshav Updated 

Our previous post expected the triangle correction to breakout big in one direction and it broke down. However, this time the triangle consolidation is smaller so the move down maybe limited to $105-$115 considering that 0.786 Fib can offer support. This chart is a breakdown of the waves and patterns of the 1D/12H bullish chart which we just posted The high level...

imkeshav Updated 

Patience is indeed a virtue when the correction is extended like this, but then again, why should it not be extended after a 200% hike in price in less than a week timeframe. Is there a turnaround? A bull flag appears to have formed on the 1Day chart, confirmation is above $150 and $240 target is the length of the pole. However the 50 Day EMA (Orange) will offer...

imkeshav Updated 

We are in the last C wave of the red ABC and I expect there will be 5 sub-waves, so the 4th and 5th waves are yet to play and I expect he retrace to go till 3500 to 3400 (0.786 Fib) I'm still expecting a move to 5k after this correction . see linked post Stay Safe

imkeshav Updated 

We have a triangle consolidation and the way it looks, it can break in either direction. A breakout above $170 will create an upward spike to the 1st Target@$200 (50 Day EMA resistance). Similarly a breakout below $150 will confirm a further correction to $130 (0.618 Fib Support) or lower Interestingly, you can take both long / short trades at the same time now...

imkeshav Updated 

The ratio got grounded to the dust after the fork to its lowest ever at 0.25. The recent rally was an indication of how undervalued it was. After a move like that, 1) its normal to have bounce to 0.5-0.618 Fib level of the entire drop 2) ABC waves are normal in a recovery during an downtrend. A & B appear to be done 3) Bull flag can be seen with a target flag...

imkeshav Updated 

The correction appears to be over at $140 and also because the recent move kept the price above that level. So I'm marking that as end of Wave 2 (orange). This puts us at the beginning of Wave 3. The target is between 200-210, considering that 50 Day EMA is at $212 offering lot of resistance. Also note the Bull flag that formed with its target at "C" i.e above...

imkeshav Updated 

It is quite clear that we had a bottom because of the recent bullish uptrend. Now the question was it THE bottom of 2018 or not. This chart assumes that it is not THE bottom. Here is the fun part, as per Elliott Waves , the uptrend can be 1) 1-5 waves: We bottomed out and started a fresh new cycle (Super bullish ) 2) 3 ABC waves: We had a temp bottom and will...

imkeshav Updated 

It is quite clear that we had a bottom because of the recent bullish uptrend. Now the question was it THE bottom of 2018 or not. This chart assumes that it is not THE bottom. Here is the fun part, as per Elliott Waves, the uptrend can be 1) 1-5 waves: We bottomed out and started a fresh new cycle (Super bullish) 2) 3 ABC waves: We had a temp bottom and will have...

imkeshav Updated 

This chart assumes that there is one more wave that has to play out. I've mentioned in my previous chart that 0.382 Fib could be a turn around if we are still bullish, and this chart is inline with that theory. However the 200 EMA (Pink) is offering resistance and we need to overcome that Here, wave 2 retraced 0.618 Fib (deeper) and wave 4 retraced 0.382 Fib...

imkeshav Updated 

One of the observations we were looking out was if there will be a turn around at 0.382 Fib (see previous chart). This chard is based on that assumption and the fact that on the $ hour chart 200 EMA is offering support and we just broke above $200 But the 50 Day EMA and previous top ($230) must be breached for the final confirmation I'm taking a trade with Stop...