What do we know so far?
Wave 3 extended to x4.62 (8400). Wave 4 was pretty violent and it ended up bottoming at 6400 and did not take the traditional ABC path of wave 4's, which has made counting for wave 5 much more difficult. Volume has calmed down somewhat compared to the wave 3 highs.
What is BITCOIN currently up to?
Momentarily, after hitting the bottom of...
Can safely say that bitcoin completed Wave 3 (4.62 extension-8400), consequently based on the RSI divergence on 4 hours, we can currently expect a Wave 4.
2 variations for Wave 4 based on Elliott wave consolidation: 7200 (0.236 consolidation level) and 6450 (0.382). Personally I am more inclined towards 7200. Additional structural support levels are 7450 and...
On it's way to C(6650). This support might hold, in which case we might have a breakout on D. That will start the wave 5.
Other potential supports for BTC are 6500 and 6430.
If it doesn't hold above these supports tomorrow, by extension this will lead up to 5950. However by the current structure. This is highly unlikely.
It's quite an obvious analysis at this...
These are some of the variations that bitcoin may choose to follow. So far it has chosen the most bullish path. There are 2-3 additional targets for wave 3:
1. x3.62 *Wave 1: 7250-7450
2. x4.25 *Wave 1: 8000 (also a psychological resistance)
3. x4.62 *Wave 1: 8350-8450
Since the intermediate wave 5 is maximally extended to 2.62, this means that most likely the...
1. 10 flat rate might be psychological resistance
2. 2 Possible bullish targets at the 1.272 and 1.62 * Wave 1.
2. Things are heating up in the States, we will see how long it will last.
3. Global growth rate slowdown (particularly the EU(Italy, Spain, France) Turkey, China, Canada, Australia) will catch up onto the States in the near term. There's a good chance...
1. Rsi Divergence
2. On wave 5 (3000,3200, 3450 possible extensions)- 2.62 very veeeery unlikely
3. Watch out on Macroeconomic factors + trade negotiations(china+ EU+ US factors)
4. Last presidential election 2016, market started going down for the period: July 2015-February 2016=> Expecting Market volatility increase starting the summer of 2019- Ending Spring...
Part of an update on the previous chart that hit it's targets for wave 4.(just had to be posted)
To some extent disappointing that wave 4 did not hit the higher variation(6800 0.382), but nevertheless it's time to start labeling wave 5 and it's variations.
There's typically 2 variations:
1. 1.62x Wave 1(Target 5450+/-)
2. 2.62x Wave 1(Target 4800+/-)
Bitcoin currently resting on the 0.88% Fibonacci ret. support, forming a bullish fractal. Technically the end target here(E) would be around 5800, although more than enough times we've seen a breakout on D(Hence given the 65% probability).
Furthermore, after completing wave 4(ABC), I wouldn't say that the market would be confident enough to start a...
Short and simple(the graph might be harder to read as there are some elements overlapping, but I'll explain them here).
By this point almost everyone knows what's going on.
Just today EURO/USD hit one of the wave 5 landing zones(1.62x wave 1) around 1.1432 , and immediately bounced back.
This is supported from the chart as the 100+200 week MA's, are around the...
Hate being repetitive, this is just a midnight, somewhat of a short update.
Getting directly to the point:
a) GOLD , fell out of an upward wedge and was falling down for the major part of today(stopped around the psychological support of 1240*whole number), until it reached the 1.62 ret support of the falling wedge. Short term prospects from this wedge would be...
This was an easy one for me, congrats to everyone that went long this time on bitcoin, but what's next?
Well, I'd honestly not enter in @ any position, only and only until I see:
1. A bullish breakout out of the rising wedge/fractal whatever you want to call it(market on the graph). In that case I would enter a careful position, and seek look for a target sell...
Starting of with the correction, from the top to the bottom.
Well expected- EOS compared to most of the coins in the top 10-15, during the last bull run, by far had the highest gains, from bottom 3.9$ to the top of 23$. Currently it can easily be said that an ABC correctional wave down to about 7-8$/0.786 ret line has been completed.
What can be said for the...
How confusing ETH/the whole crypto market can be these days?
Personally imo*, and by the way it looks for now, this is highly likely to be a falling wedge(I repeat HIGHLY likely!). This would be a good long shot at ETH, with a possible stop-loss, if and only if the bottom channel of the Falling wedge is decisively broken(Great risk/reward shot here). Why would...
Currently expecting a medium pullback on the BTCUSDLONGS as they are very very overbought, but under a very steep angle.(Positive-bullish effect on the price)
When it comes to the BTCUSDSHORTS ,it's quite the opposite. The 4hr chart is very oversold, and a pull up anytime soon could happen.
What can be seen as the biggest outtake from this analysis...
Key factor for any breakout- Volume.
Ever since breaking bellow 6000, we saw some volume spikes here and there, which can indicate that bitcoin may not stay bellow/around 6000 for long.
The next 4 hours would be crucial for a breakout on D, if btc can hold above the daily opening 6070(green candle). We could see a breakout happening tomorrow.
However, 5400 isn't...
Just a short midnight update.
There isn't much to be said. Fairly oversold, it just entered the 0.78 ret support zone and bounced back.
5 wave correction complete, stop loss 420 for now looking good. Forming a reversal pattern of a falling wedge, expecting some liquidity to enter the market this week or the next one. The same goes for bitcoin.
Now, obviously, gold as every other asset is affected by the all the kind of news that the media discloses. But looking in the 3-5 year span, it's impossible to predict what sort of news will be around, so we'll just assume for now, that it would be a zero-sum game(no gain or loss from news).
However, I'll just mention the current strong trends happening with...