OgiK

OgiK

Ascending Broadening Wedge, usually this pattern indicates a break below. If support fails, I'll be short with a target of $3774. IF bulls maintain momentum and break through resistance, we take a long with a target of $4194-4200, using the 200% fib as guidance. Happy trading!

OgiK

Currently, we are trying to complete the impulsive wave 5 which will complete the overall corrective cycle of leg C. Based on fibs, we can either pullback to the 100% or further extension to the 161.8% retrace. Bitcoin has failed to break above the major bearish trend line and is continuing the slow and steady sell-off in this final impulse wave. Personally, I...

OgiK

There are two variations we can formulate using Elliot Waves to predict the next wave cycle on bitcoin. This is a long-term prediction and will ONLY be valid if we can hold the $11,200 mark and clearly breakout above this bearish trend line. Our next target would be around $13,000 which would complete wave 5. IF and WHEN this does occur, we can safely assume that...

OgiK

Elliot Wave 5 still needs to form down to the 161.8% retrace around the $4500 area.I see major resistance and not enough volume to indicate a true reversal. You could make a strong counter argument but I think we have to let the cycle complete before speculating any trend reversals.

OgiK

Watch for bounce at lower channel here. We might get a sharp spike through support but a quick buy up and a bullish move towards the upper channel line.

OgiK

Buy areas for BTC. Assuming we dont get any negative news surrounding bitcoin, we should be witnessing $5,000+ very soon.

OgiK

We can observe CL is still in that bearish channel but the price has now created what I believe a highly bullish wedge. Price targets marked as per fib retracements. If we do get a break to the downside, please watch 43.50's area as a buy opportunity.

OgiK Updated 

Classic gold when breaking down in a bearish channel . We'll see a nice slide downwards in to the heavy "demand" zone continued with an absorption and then expect a bullish channel formation with a nice move upwards. Rinse and repeat with gold. Of course there is always the chance these support levels dont hold (paired with bearish news) and we get a nasty...

OgiK

Classic gold when breaking down in a bearish channel. We'll see a nice slide downwards in to the heavy "demand" zone continued with an absorption and then expect a bullish channel formation with a nice move upwards. Rinse and repeat with gold. Of course there is always the chance these support levels dont hold (paired with bearish news) and we get a nasty...