I decided to take a peek at silver after the recent flurry of Bitcoin gains,
and thought that this pattern looked interesting.
I would guesstimate a potentially sizable break out or a break down by November 2020.
All things considered, I'm gonna go with a a nice break out to the upside.
That's if the pattern rules. If manipulation rules... It's anybodies...
Been hung up for a bit with some resistance from a trend line (green) after another nice little move.
Seems if it can break and hold above the green line, we could be seeing a nice wave 3, after a classic ABC wave 2,
and yesterdays lovely 20% wave 1.
Lets see how it plays out.
Hey Crypto Knights. In this current phase of calls for 5k, 3k, 2k... and some full beartards saying crypto dead...
I'll just put this out there as a way we might begin to climb a ladder out of the full on bargain basement, via ascending right triangle.
Do they always launch? No. But there are indicators along the way. Here's a little info from Investopedia...
Oh wow man.
I'd tell you to eat my shorts, but I can't remember where they are.
Got any chips?
Oh yeah. And some Ice Cream?
And if your head is full of dark forebodings too...
I'll see you on the Dark Side of The Moon.
Hi all. Okay, so as I understand it, price action can go either way out of a rising or ascending wedge...
but historically tends to fall out of the wedge. But it CAN break to the upside also. I've seen both in different charts at different times.
Here you can see rising wedge 1 broke down, but rising wedge 2 broke upwards with some gusto.
Now here we are moving up...
So the last time it went sideways for a while between these 0.65 and 0.618 fibs... "the golden pocket"...
you can see what happened.
Only 17 hours in the pocket this time... but lets see what happens.
That last green candle was moving pretty good.
This is really interesting to me. Trend lines change position depending on whether you are in log or linear scale.
The trend line from the All Time High hits in a different place then the linear version.
Anyway, I picked a spot (a dip) right about Aug 24th, 2015 as a starting point for that white trend line.
Even though it wanders sometimes above and sometimes...
What up crypto hawks!
Ok... so this original count can work on several levels. I've added some subwaves for reference purposes.
I'm seeing more gloom and doom projections, like down to 4k or 3.5k... but I'm gonna stay basically bull here.
No matter HOW you want to count the elliot waves (many don't believe in them but I do) like for instance whether or not...
Whoop! There it is.
So... due to the intersection of a larger trend 0.5 fib, and that old major resistance line coming down from the all time high,
I'm calling the end of Wave 2 @ $8,800. That's my bear call.
It could come up shorter then that, at approx. $9,300, which puts it right at the wick end of wave A,
and in the territory of the previous subwave 4 of...
Ahoy rodeo riders.
So, compared to one of the sub-waves in wave 3 of ONE,
this drop inside of a potential sub-wave 5 of ONE, makes it not out off the table for 5 to NOT be completed yet.
So far it's bounced twice off of an 0.5 fib line in my 4 hour chart here.
Not like I'm horribly attached to it completing my projected 5...
just curious and trying to sharpen my...
This came up today in my constant search for crypto understanding, and I decided to put it out there as an update to my (and others) recent wave counts.
Credit to Philakone for this notion.
I can go with this, mostly because of the sluggishness of what I was counting as a Wave 3.
It just seemed a bit lackluster for a Wave 3, and particularly for what should now be...
Here's a bullish scenario.
Yes I can see a bearish correction continuing, with my Wave 2 just being the A of an upcoming ABC that will comprise the "real" Wave 2.
I admit wave 2 looks a bit short here.
But if that WAS Wave 2 completed and we are on a Wave 3 now...
Yeeeeeeeee Hawwwwww! It's a bull ride.
Sure as heck is a Rodeo in general, eh?
What do you think?
Ok... so this is more about my deep love for Nano then it is about this chart.
I'm still a novice with Elliot Wave projections and/or Elliot Waves in general...
and this is prolly way off from what is to come, but what the heck.
Don't taze me bro!
I think NANO is the Jerry Garcia of cryptos. You can never count it out. Like Jerry who might seem to be having a bad...