2024-04-22 Bitcoin in April The infamous nonevent halving has passed as expected. All this wasted energy and anxiety about pre- and post-halving crashes, volatility, wherever they said, it was all nonsense of course. There has never been a statistical or logical argument for any of it. All bullshit. Like Q-Anon. April did bring some trading anxiety, however, as...
2024-04-22 Shiba BUDZ / Wrapped ETH in USD on Uniswap V3 Shiba BUDZ is touted as a rival to the popular Shiba Inu meme token, but with more functionality , such as gaming and DeFi. On April 19, 2024, Shiba BUDZ concluded its presale at the token price of 0.04745536 USD, with the initial stage price of $0.007. The following day (4/20) at 10:36 UTC, the token was...
Bitcoin’s 200-period four-hour SMA has been a major support in the bull run of BTC since the lows of 2022. Only during the largest corrections has the price traded below this indicator. With the latest correction from the fifth wave, the support failed and it has since acted as a resistance. In the last day, the line has prevented further gains past 67,200...
Based on the market behavior today, April 10, 2024, I have finally settled on a new structure model of this entire market top. The bullish wave yesterday had all the punch of a D-wave in an Elliott triangle, but then stopped unexpectedly and turned south for a deep retracement. I commented in another topic that this was a leading diagonal, but that structure is...
2024-04-18 $SLERF—The first Elliott Waves This meme coin is being hyped as one of the big money makers in the near future. I don’t know about that, but certainly the large draw down since launch appears to be over. A wave has formed above the down trend that is now challenging the first line of resistance, so far stalled though. Should it break through, it indeed...
Cardano has been expected to do well this crypto cycle, but even the one dollar mark has been elusive despite a strong bitcoin market as the driver for all of the crypto space. However, its chart exhibits a very nice Elliott wave structure resulting in a clear five-wave ascend into the 80 to 90 cent range. Along with bitcoin’s correction, ADA experienced a sharp...
Much speculation has circulated in the crypto press recently about Polygon’s prospects for a one-dollar valuation of its token MATIC. Can it perhaps even reclaim its all-time high of $3.00? While the first question has been answered by the market already—the renewed bullishness of Bitcoin and cryptocurrencies in general, has sparked a new rally—the second answer...
The price range around the 2021 high, then the ATH, of around 69000 has been the battle field for an entire month. It certainly has been worth it, for it brought a new all-time high even before the bitcoin halving for the first time in BTC’s history, and it will be marked in the market cycle as a significant milestone to provide a strong base of support. But...
2024-04-02 BTCUSD Corrections occur after the market has finished waves one, three, and five of an uptrend. There are no other reasons for corrections, save for black-swan events which happen outside the rhythm of the market and usually cause crashes. On March 4, 2024 the bitcoin market completed a sequence of five waves from the end of the January correction at...
This is an Elliott wave analysis of the March 14, 2024, market top and new all-time high of Bitcoin. On January 23, Bitcoin ended a two-week correction after briefly breaking the 0.618 Fibonacci retracement level from the 2022 bear market, and marking the price of 38524 dollars as the end point, using the Bitcoin INDEX data. From that point Bitcoin proceeded...
2024-03-17 On St. Patrick’s day this pair looks greener once again after the Bitcoin mood turned negative this weekend and erased about a third of WIF’s gains in prior weeks. Since trading began in December, the pair experienced an Elliott triangle correction into the last week of February, when it finally took off in a clearly structured impulse wave that took it...
The time is 57 days before the 2024 bitcoin halving. Give or take a day or so. The bitcoin price is $52000. Give or take a few hundred dollars. The Elliott Wave Principle is the most accurate and meaningful description of market dynamics. Elliott called it “Nature’s Law.” The bitcoin market has unambiguously completed two waves, wave one and wave two, in an...
2024-03-30 WIF is running loose without leash, still got its hat on though. Fun to watch out in the open price discovery.
Chart tells more than thousand words. See my complete Elliott Wave analysis in the prior posting.
This has been an interesting week. A lot of screaming about corrections, crashes, dumping, bitcoin halving precursors, even conspiracies about gigantic billion dollar trades gone sour. All of this for a normal intra-rally correction after a fifth wave finish in Minute degree, that simply needed a correction, because the market goes up in five waves, and retraces...
The Dot is the token of the Polkadot network platform, one of the older generation of crypto currencies. It is touted for Web3 interoperability with cross-blockchain transferability. It has a fairly robust trading history since 2020 with an 2021 all-time high of about USD 56. In the subsequent bear market, it traded down to about $3.50 in the Fall of 2023. It has...
The meme coin Shiba Inu is on the rise again early in 2024 with bullish waves developing.
2024-03-11 Starknet STRK Starknet is a coin that has been on major exchanges for only a few weeks. Some analysts speak highly of it, as potential multiplier of our funds. After some struggles getting a footing, it appears ready for a breakout for 2x gain.