someone514

someone514 Updated 

Elliot wave wise 5 wave down is completed from 76xx - techinical: 1 hr -0.98% bullish divergence - dogi formation on 6hr - bounce off fib .786 level and supporting trendline . SL is below previous low and a break below trendline .

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All count is on the chart. - Blue fib tool is the retracement of the whole leading wedge. - Red fib tool is the fib ext of wave A-B (As labelled, B is .618 ret of A) - The lower black trendline is the lower supporting trendline established since Nov 2017 If anything, I'm confused with how wave ii should be drawn. Share your thoughts.

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- A is a 5 wave impulse to the down side, that I am confident. - It seems like wave B is a triangle corrective pattern that corrects wave A. I have listed the price swing (in %) of wave A, B, C, and D. - In the black text, I calculated the golden ratio of wave A and B to compare them to the actual price swing of C and D respectively. - The target of wave E is...

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Setup as shown. SL is above previous high, giving a high r/r.

someone514 Updated 

we have bearish divergence on macd and rsi on both 1 and 2 hr chart. The price is at .382 ret of the previous bear swing. Take care if you're long as we might see another leg down.

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While it may be extremely profitable to trade counter trend as volatility is still present, we must not lose perspective of price action in longer time frames. Overall, the market is still bearish and the king BTC is still holding its $7200-7300 support, yet with minimal volume and is showing low momentum and chipchop price action. Indicator wise, the RSI is...

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A break below the recent bull swing will invalidate the wave count (that is, we are preparing for wave 3 of 3). Close all longs should the price drop below and look for reversals between 20-30RSI on longer TF.

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We are still missing one leg down, as it does not look like a 3 wave structure developing. 3-4 ext at 0.618 gives confluence to previous low at $7300. This support needs to hold, or else we will go for another free fall.

someone514 Updated 

The market bounced from .786 ret of recent bull swing but there lacks volume and hard conviction. I see an ending 5th wave diagonal, in confluence with the RSI failing to break 65 after multiple attempts, I would be cautious with holding any long position as of short term.

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We just closed a 15 mins candle below the trendline established since May 12th. The point of which a complete corrective pattern could be drawn. Wait to see how longer TF close below or above this line, it should give permission to open either a long or short position, targeting clear structural resistance levels & fibonacci targets.

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Assuming that bull swing from early april is, in fact, an abc correction to the upside within a larger correction to the downside. We now have a complete 5 wave structure to the downside since we failed to break 10K resistance in early may. I anticipate a zig zag corrective pattern forming, and that we are now in wave b, before one last leg down to the target...

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This is a 15 mins chart, this trade will be an intraday short position. First target is trendline support. Signal: - Close below lower trendline of ascending wedge. Anticipate down trend to continue. - RSI hovering in bearish range, do not expect to break ~55~65

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Hello, I am here to present a scenario - a possible WXY correction on the longer TF for bitcoin. I understand how people may find this analysis ridonculous, but I am going to spit it out anyways. Thoughts: - W is composed of a 5-3-5 zig zag, marked in black (A); (B); (C). - Subwave (B) is a 3-3-5- expanded flat, its subwaves are marked in red a; b; c. - I...

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- This is a valid way of drawing it but not the only way. A completed WXYXZ corrective pattern. - Forming a falling wedge - The preceding trend is bullish, breakout to the upside is highly possible - SL is below the start of the previous bull swing Good luck:)

someone514

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Hi all, This idea is based on moving average and chart pattern. EMA50 has now crossed MA50 on 4 hr 0.04% chart, and 6 hour chart should catch up soon, too. Because of small market cap, ETP -0.44% usually has high fluctuations when it rallies. It is also highly correlated with BTC 1.41% , so with the whole market being bullish , ETP -0.44% is a phenomenal buy...

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The impulse is not the prettiest, but both wave 2 & 4 retraces slightly. These slight retracements show positive market sentiments of OMG, and it should be reflected in future price action. In my opinion, it will be extremely bullish. Wave 2 often retraces to .618, but looking at wave A, it does not seem like it will be the case for OMG. Watch out for price...

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premise: assume the previous leg up is an impulse and not a correction to the upside in a downtrend. Entry signal: - RSI bullish divergence 4hr & 6hr - WXY corrective pattern completed - You can also buy the breakout at appx. $140. Only do so if it happens with volume and conviction. - MACD on higher TF also supports movement to the upside - SL must be placed...