Disclaimer: This is a random idea that I've been playing with. None of my previous ideas have been on target so this one probably the same.
Silver like everything else is either gonna go up or down. Silver's bear trend may have finished and all blue sky above, maybe. If we are considering an Elliot 5-Wave in this bear trend, one could argue that there is one...
Looking less and less likely to see drop before halving although not outta the woods yet. Will need to reassess Elliot Wave 2 if no major drop.
With the increase of interest and support in BTC in the halving in a few days, we could see a BTC confluence of both the major and minor APF resistance at $11400 on 10 May.
Looking for projected intersections of Andrews Pitchforks (APF) together with support from Elliot Waves, larger timeframe RSI's and trend channels to see if a valid trading strategy using these methods can be developed.
This TA uses the following indicators
i) Andrews Pitchfork (AP)
ii) Elliot Wave
iii) Projection tool
Look for interesting intersection points from the two smaller bullish and bearish APs within the larger bearish AP.
Our first interest is the smaller bullish mid-point intersecting the smaller bearish Resistance on 2020-05-18 @ approx price 8200
Btc nearing support at 6000
If it bounces off support and breaks up thru resistance channel
then that augers well for the start of the third wave of an Elliot 5-Wave uptrend.
Bouncing off the 6000 support rather than breaking down thru it
will confirm the completion of the Elliot ABC correction wave
Wave C provided the 6000 support and start of Wave...
Hey, need a TIP (Targeted Intersection Points)?
SHORT to 6985 nxt 10 days - extended line intersects pitchfork at channel support/fibo 32, then LONG to 7899 Jan 2017 - Standard pitchfork and Schiff pitchfork top inner intersects channel resistance