Herewith counter argument for a bullish move;
1. 'BTC' in the final wave of an ABC correction, presently completing a WAVE C diagonal.
2. DAILY Incicators: RSI close to 30; MACD printing divergence and a "W".
Three bullish exit points are marked with green arrows. The most likely being the 1.236 fib level, if we assume the descending diagonal and...
Although it is entirely possible that a short lived bounce may happen at the lower bound of this symmetrical wedge , please rest assured that once this bound has been breached - a rabid selloff will ensue.
I've set my sights on a final target of about $3500.
Please consider long and short positions as a guide to market sentiment:...
Ladies and Gents,
We appear to be in the process of completing wave 5 in the form of an ending diagonal.
This structure is set out as a complex corrective pattern, commonly known as a TRIPLE THREE.
Once completed, BTC should be ready for a bull run!
Let's see how it plays out ...
I offer a hypothesis.
1. An impulse wave sequence completed ending with (5) marked on my chart.
2. This also forms part of a symmetrical triangle where the last high (D) has been reached and BTC is presumably headed downwards to point (E)
3. Within the symmetrical triangle close to (D) and highlighted in yellow, BTC has formed an ascending...
I believe BTC has just completed sub-wave 3 of wave 5. The next target should be about the vicinity of $ 9450. Final target @ $ 10 600 region.
Not sure yet if there will be an extension.
Let's see what happens ..
Happy Trading !
I wish to take a moment and applaud my fellow TV authors for posting analysis in a market which has become increasingly difficult to interpret. Your ideas teach us. We learn, explore and think of our own innovative ideas all because of the groundwork laid by you over the years. Pay no attention to haters and keep up the good work. The TV community...
I present to you the daily and with it, my suggestion for the next major price moves.
I've been calling a drop for some time and like most other analysts, my targets have not been accurate. However, it's encouraging to see the cloud of confusion slowly lifting with many prominent TA's starting to share my viewpoint.
Momentum indicators are clearly...
Like many of you, I follow the top analysts on TV. Right now, everyone is getting it wrong!
First they say up, then down or both! .. and we all think ... are you long or short? Pick already!
The truth is that it's very difficult to analyze faster charts at the moment. Everyone is trying their best and pretty much waiting for a clear signal to...
I invite you to compare this idea with my previous post (BEARISH PLAYBOOK). Link provided below.
It is apparent that chart geography intends support for the A-B-C correction waves, where WAVE C is presently underway.
I expect this wave to be divided into 5 waves . Accordingly, I will update targets as we go.
Let's see if it all works out ...
I've made the bold assumption that we've entered an A-B-C corrective wave, which is likely to retrace at the 76.4% (WAVE A) level. The impulse wave which should follow the correction, could serve to constrain BTC in a broadening wedge pattern.
Let's see how the play unfolds.
PS: If the price closes above $9700, this idea is dead !
Happy Trading !
I'm going to take a wild gander at this one. I know it might be too early to tell.
We appear to have an Elliot flat wave structure unfolding from a descending triangle. If wave C completes as an extended wave, BTC would also complete a head and shoulders pattern visible on the daily. This in turn would prompt a likely move to the lower channel bound...
We have embarked upon the ascent of wave 5, which will run its course to the region of $ 10 500. I've marked out speculative targets on the chart, which I will update as necessary.
Once this target is reached, I think we will have a further move upwards to $ 11 500 where price will meet overhead resistance of the main channel trend line and cause...
The broadening ascending wedge (megaphone pattern) worked perfectly. It has ushered in the 4th wave of the Elliot impulse wave set. We have yet another bear flag forming, which will take us to the wave extension marked as 4.
If the price does not reverse upwards at the end of wave 4 and declines further, it will render the wave set invalid and we are...
I note an ascending broadening wedge on the hourly, still within the bounds of a large ascending wedge (dashes) which I have been tracking from $6400. The ascending broadening wedge has an 84% probability of breaking downwards, which would cause it to close below the lower bound of the large ascending wedge (dashes) to point "E" and thereby, initiate...
Although i am super bearish in the short term, I do see BTC heading for the moon in the longer term. A great many of us share this viewpoint.
My previous ideas have hinted that we are in for a drastic move downwards, but as an alternative to where we bottom at $ 3500, I would like to tackle the analysis from a bullish vantage point which does seem...
It's been a frustrating time in the wacky world of (often incorrect) TA. Almost nothing works as it should right now. Many pro's are sitting on the bleachers, eating popcorn and watching the FOMO frenzy as the general public hurl their life savings into the crypto markets.
It's a gamble which may or may not pay off.
Many of us feel that a...