volkergu

volkergu Updated 

Finally came up with an idea explaining this whole correction; if we assume that we are correcting from wave 1, then a 0.5 and 0.618 retracement has the highest probability; so far we haven't been reaching a 0.5 retracement; now ; if we had a double zigzag that would work; on the first abc, the c wave is a perfect 1:1 extension of wave a; if I apply the same to...

volkergu

a couple of days ago it looked like that the bottom was reached; apparently it did not; now we have reached the golden area of 0.65/0.618 retracement, we are in a falling wedge; a nice candle appeared and the RSI shows a divergence on the 1hour and 4 hour chart; the only question is, if ETC is actually the same opinion

volkergu Updated 

easy EW count; probably close to bottom and then wave 3 starts

volkergu

I am just waiting for the upbreak on the RSI and wave 3 can start; finally

volkergu Updated 

Well I see a good elliott count and it appears to be that the correction of wave 1 in wave 3 is in progress; so far the correction has a low elliott retracement but a possible count; next 2 candles will give a clue; if the shooting star completes then the correction will take us further down; if not wave 3 of 3; either way it will just be a time mater till wave 3...

volkergu

I wish it would make its mind up; either correction wave 2 is complete or H&S pattern will complete (+ the bear flag) and we are moving down under the 10000 again

volkergu

First Elliot impulse did a text book 0.618 retracement and it looks like the 3rd wave will push through the 50 EMA and the major resistance; finally; my coins have already spider webs on them

volkergu

If my count is halfway correct, then we should retrace to the 0.65 level. The bear flag gives a similar target. I don't like the relatively low retracement of wave 2 and 4, but for this scenario I cannot find a better fit than the extended 3rd wave. RSI still downtrending. Obviously this is one of the bull scenarios. There is still the main bear scenario that we...

volkergu

It hit the 0.65 retracement level and a clear divergence on the one hour RSI; this is obviously short term; but similar picture on the 4hour TRXBTC and if that reverses then the chance that it breaks the strong resistance line is good as we are literally in the corner there; the next 48 hours something significant will happen (in my humble opinion)....

volkergu

Looks like other predictions of a drop to under 0.6 USD were not overstated

volkergu

that does not look good

volkergu Updated 

Let's see if I got a better handle on elliot; RSI seems to reverse; a reverse hammer candle; all other charts I looked at are just saying, down

volkergu

if correct then we see a significant upward move

volkergu

according to the literature, next stop around USD2.2

volkergu

looks like a perfect cup pattern; anybody care to confirm?

volkergu

Price - downward trend; confirmed by RSI and MACD; support line at about 285; next support at 240; if it breaks out of the triangle downwards ....

volkergu Updated 

at which point can one start identifying with more confidence an elliott wave; my example here is most likely far to early; are there any other rules for elliot waves I have broken?? havnt worked with it a lot and trying to get a better idea; any help and corrections welcome

volkergu

looks to me - on various time scales like double bottom; any opinions?