It appears we are moving down in 3 waves, giving a possible Ending Diagonal for a bottom. I would expect a bottom near $0.10 with a thrust up to the beginning, around $0.79
Anything above around $0.43 would negate this outlook. The alt count in neon green (a Flat) would be in play, meaning still one more low.
We need to see overlap in green waves 1 and 4 ($0.0203), but this overlapping structure has the possibility of an Ending Diagonal with a thrust up. It appears we are moving down in three waves. This would also go hand in hand with the move up being the beginning of a Third Wave.
I found a new site, where (BTC) fear is at an extreme. If you follow Elliott Wave...
See my previous comments on other charts. This chart claims short, but there is a likely pattern that takes us to $11500 then much lower. Overall short to $4500-7800 but expecting $6600.
I am definitely watching BTCUSDSHORTS and extreme sentiment. Orange line is BTCUSDSHORTS
If you look at BTCUSDSHORTS (Orange) vs. price action, you will notice that at extreme levels, price action does the opposite. Note when we were approaching $20K, there were an extremely low number of shorts. This is in support of my red wave 2 Circle in this chart and previous ones. We still have more downside. Around when wave 2 Circle is nearing completion, I...
This is really just an update on the linked chart below...I really am surprised how long this has taken but I still think wave 1 Circle is in and maybe 2 Circle.
I'm not sure how this fits in with BTC...BTC MAY have seen a shallow correction, but I doubt it.
The target is around $0.25 for a "short-term" trade...then a major correction in wave (ii).
This is really just a follow-up on my previous BTCUSD chart....now looking at short opportunities.
The 50% is around $6600
0.618 is around $5500
0.764 is around $4500
If we hit $8K rather rapidly (days/week), I would expect a more complex correction.
The upward projections are using Log Fib extensions and are based on a low of $6600 for wave 2 Circle....which...
The two orange boxes are potential targets for waves (4) and (5). Once we complete 5 waves up (wave 1 Circle) from ~$3200, expect a sharp move down for wave 2 Circle. $5900 is the 0.382 Fib
Fifth waves are known for extreme extensions in BTC.
We need to see more overlapping, but this could be a sign that wave 1 Circle is nearly in and expect a significant immediate decline. I would suspect all other coins will follow. I am not short right now, but am watching for more signs. I would expect BTCUSDSHORTS to drop nearing the top of the Ending Diagonal, if that's what's playing out. This could take a...
Short-Term $1000 correction.
It appears we have nearly completed wave (3). As soon as this is complete, expect a ~$1000 correction for wave (4). Between $6000 and $7500 we are in risky territory of wave 1 Circle being complete and a deep correction for wave 2 Circle.
This is really just an update on the linked chart below, so nothing has...
Note gray primary wave 2 circle at bottom of chart (red arrow). Another way to see TRX is that we completed wave 2 primary and we are headed MUCH higher ($90 area for primary wave 3 circle) in the next 1-3 years.
The outlook has not changed...other than the placement of the converging lines and timeline. See previous post.
Whether this is an Ending Diagonal or not, this all looks like a corrective move down for wave 2 circle.
So far, we have been moving up and down in three waves. Outlined in green is another possibility, an Ending Diagonal for a C wave of a 2nd, with a thrust up on completion. So far, I don't see any impulsive moves to the downside. This all looks corrective to the last move up in wave 1 circle.
We could be on the verge of a 3rd of 3rd as outlined here. Once complete, "all" coins should have a significant rally....specifically the ones I follow....XVG/TRX
This move down best counts as a C wave for wave 2.
My levels/targets have not been calculated with any sense for accuracy and have just been eyeballed. This is just to show the general outlook.
Long term, not much has changed, other than the timeline, which I have extended to the right.
1. We have already completed 5 up and are now in a C-wave Ending Diagonal for the completion of wave 2.
2. We are within a Triangle for 4 of 5, THEN complete wave 1 circle.
Once BTC completes its 2nd wave retracement, I think we will see some serious action to the...