It has been since October 2019, #Algo is in accumulation mode and it is now testing the upper level of its range.
I think there are 2 possibilities:
a) Successfully passes above the resistance, retest and continue
b) Failures and continue to accumulation.
In the end, after the accumulation, there is a big upside potential for #Algo.
Based on the Wyckoffian Method and principals, the first accumulation period ended and it looks like the price is testing the resistance level, which can be the next support level.
If the price can stay above around $2 in the next days, it will be quite positive.
Besides, if you follow the news, #Swipe has upcoming projects, i.e. a #Defi, is called #SwipeFi, on...
What a headline, right? :)
I am sort of serious actually about EOS.
The price move since 2019 till now looks like a part of a correction (red ABC). This correction possibly wants to test the most untested region of > $9, with a psychological level of $10.
From a higher level, with green ABC, if the price reaches $10, then a further correction and a stop-hunt...
Below 88 would be a good stop hunt level.
It still looks like an ABC type of correction BUT I - for now - preferred impulse (12345).
Though, my feeling is that it is a correction and Dollar index will eventually hit 121.
However, till the upcoming election, depreciation will continue.
Is this the end for S&P 500?
I think it is not yet the end. We may have one more year. I do not know where this will end but at least SPX will go above 3400 one more time.
There are all based on EW price and time analysis.
Based on Wyckoffian analysis, #silver is in Phase D. We had the bullish confirmation in Phase C.
A price move through $20 will show us the sign of strength (sos).
If silver can pass above $20, then the next target will be $30, which is the golden zone of the previous higher level downtrend.
The price action of July 2019-Dec 2019 had a "perfect" correction look and it was probably a triple zigzag.
But, the problem is the first accumulation period at around $6k-$7k was quite rapid and gave no time for proper accumulation. (check the accumulation zone)
Moreover, the wave structure from $6.5k to $10k looks like another multi-zigzag, in this case it is...
The correction period started in mid 2008 and euro has been falling since then.
In my opinion, the correction is a triple zigzag.
Z will be the last leg of the correction and will end around 0.95.
This level is also 0.786 of higher degree impulsive pattern.
The invalidation level is, which is above 1.618 of Z vs Y, at 0.84.
This is a long term EW prediction,...
I think the bitcoin price downtrend, which began last June-July ended. The price uptrend started from $6.4k in mid December 2019 was the first wave of an ABC correction.
From a wider point of view, the price can reach up to $11k in the next months, which is the golden ratio of June-2019/December 2019 price move.
But, the price first needs to hit $9.2k and then...
#BTC has been falling for a long and everyone expect further fall but markets do not work with this way. There is always a correction.
The trend since 25 June 2019 is a correction move and the pattern looks like (for the moment) a triple combo.
The price dipped around $7.7k recently and this move upside can be the X wave, which can end up to...
As you all know, Trump wants a cheaper US dollar. It looks like he will get what he wants. In my opinion, 93 is a critical level and the red-dashed line is important. I expect a break below the red line, the depreciation of the US dollar.
Please check the cup and handle formations. There are two of them. One is at smaller scale and the other one at larger scale.
For the very short run, we are in a 4th wave and I expect the price can fall $7.5k range and complete the waves at $8.5k.
Later, $7.2k and $6.5k can be the next buy targets, based on the market sentiment.
For the next 1-2 months, we can...