Pretty much all the information is written within the chart itself.
To sum it up, from June to October 2018 there was a pattern that had developed after NFLX reached its high. There was a 7 wave move to the downside that made 4 consecutive lower lows while forming divergence on the RSI + MACD. Followed by the breakout, price hit some sort of resistance and formed...
Just had a quick look at the 4hr Bitcoin chart and noticed that the last 2 price swings have looked very similar. A large, quick run up in price followed by a lengthy consolidation in a tight range (flag pattern). Then price breaks out and has another large, quick run up in price followed by another consolidation in a triangular formation (pennant pattern)....
This morning as I was looking at some charts, I came across an older chart I posted about that had Dec 17 2017 pinpointed. December 17th was the date we hit the ATH of the infamous bull-run. I thought to myself, December 17th is coming up and things are looking more bullish to me than before. What if make a yearly low right around the same time a year ago when we...
USD/CAD showing bearish signs on the weekly chart
Double bear flag scenario looks to be in play
Measured moves for both bear flags co-inside with each other to create a good amount of confluence
Major Confluence Zone = Green Box
1) Larger bear flag measured move meets the
move of smaller bear flag and 61.8% fib level
2) Smaller bear flag measured move meets...
Here is what i see the BTC -3.89% chart to be as of today (06/13/18)
Using elliott wave , median lines, pitchforks , supports/resistances i have been able to come up with a valid zone for Bitcoin -3.89% to bounce and perform a reversal.
Many valid confluences have been found within the chart:
1) Pitchfork Median line lines up perfectly with the 2 support...
One of my possible counts for BTC
This is my bullish count where BTC has 3 potential plays:
- If $8818 holds we will see W2 (pink) completed as a deep retracement
- If $8818 doesnt hold we may see a 1:1 Extension from A-B (green) which would turn out to be a double bottom
- If $8818 doesnt hold we may see the price bounce between the $8500 - $8760 region...
There have been many different counts for BTC within the past week or so.
I believe it to be an ABC correction still. Noting back to my previous chart i posted, the length of that ABC after the 5th wave was just too short to be a full correction in my opinion.
Here we are with my full count and final wave of the ABC! I believe that we are on the C wave and the...
Bitcoin Update for Wave 2 on the 30 minute chart
Looks like BTC is on the last leg of the correction (C wave)
Here is my analysis using previous time length, fibonacci retracement + extension & elliott wave
- Only 21.5 hours from wave 5 to correction low(previous waves 2 and 4 corrections have taken roughly 2 days and a half
- B wave hit between 0.5-0.61...
This is a potential bullish count if the bottom has already been established at $109.
Some indications as to why this may be the correct count:
- We have completed a WXY correction from the all time high (wave 1) and it retraced to the 78% fib level which is normal
- RSI levels have broken the downtrend resistance and now have created an uptrend...
This could be the subwave 2 on the larger W3 for Bitcoin if it holds above the $6000 level.
I am seeing a WXY correction currently in this subwave 2.
The specific rules + guidelines for ABC and WXY corrections provide confluence to holding the support at $6000
If we get a deeper retracement than 38-50% for subwave B it's a bullish indicator + could see a bounce...
LTC/USD setup as of now
Falling Wedge - With the wedge at the 78% fib level,
we could see a bounce around that region. Also, the support
trend line happens to be in this area as well which provides
more confluence to this possible bounce.
RSI - Showing a series of higher lows, could be indicating a
trend reversal. Also, an example of...
Here is my bullish view on Litecoin.
This looks to be the bottom of the ABC correction for LTC/USD
If the price breaks below $103, we will resume correction and end up with a WXY count where W1 would be a failure (X)
If this indeed is the bottom of W2, my predictions are noted in the chart text
Let me know what you think!
This is how i feel about Bitcoin:
We are currently in an ABC correction of the previous 5 wave structure.
We have confirmed the bearish count as we
have a clear B wave
Currently on C wave (looking for our 5 subwaves)
Using fib extension from AB and subwaves,
my prediction for C wave is roughly $6200-$6500
My prediction of C wave (SW 5) also has confluence:
Here is what i believe to be the 2 scenarios for BTC
Read the yellow text in the chart for explanation on the 2 counts
Bullish Scenario is Green (Impulse) + Yellow (Correction)
Bearish Scenario is Red (Impulse) + Pink (Correction)
Cardano #ADA has been in a long correction. Is this the bottom?
Many indications point to yes but we never really know with Crypto.
- ABCDE Correction formed a falling wedge, usually after E wave we will break the triangle
- Total correction has reached 78% Fib Level, there is not much more support under this range and will fall right down to the 100%...
Based off my last post there were 2 scenarios i had talked about. I did not mention the possible truncated 5th wave scenario. I believe this has become the case where the 5th sub wave in C wave ends off in a truncated position (above W4). We can look at this as a bullish indicator as the bears failed to push it below the 4th sub wave position.
What we are looking...
LTC/USD Bullish and Bearish Scenarios
Bullish Scenario (Green): ABC Correction is done completing W2 on the larger scale Elliott wave. W3 is confirmed after we pass the $214 level (sub wave 1 resistance)
Bearish Scenario (Pink): ABC Correction isn't done completing. C wave still needs the 5th sub wave (extending to the 161% level) creating a double bottom ABC...