davidperkins1

davidperkins1

Price has come down and looks to have another leg down to complete this wave. Is it possible that it gets to the 38.2% retracement line?

davidperkins1

Based on Friday's strong, impulsive wave down, it appears that a trend change has occurred and that wave 1 down of 5 may have completed at the up arrow on the chart. If so, then we need some corrective waves for complete wave 2 up. Ir is also possible that wave 1 down is not yet complete. I have place two left arrows where I (not you and not trading advice)...

davidperkins1

I wanted to show an example of how I use my FOMO prescription (Keep my average price under the 23.6% Fibonacci Retracement Level) in a real time example. Note: I drew the Fibonnaci Retracement range from 0.00 to the All Time High to maximize the range and not have to move it should price move past the last low...Can't move past ZERO! Back in May, I decided to dip...

davidperkins1

I've just added another 2,500 ACH to bring my total to 15,000 with an average price of $0.0273, way under the 23.6% Fibonacci Retracement level which is at $0.056. Note: The Fibonacci Range is from 0.00 to the All Time High. Price broke out of a descending triangle and has now fallen to retest the upper boundary. After trading sideways for a while now, price...

davidperkins1

FET is in a declining triangle but with strong bullish divergence on RSI. I decided to add to my position today with price at $0.0882 to bring my average cost under the 23.6% Fibonacci Retracement level. (I forgot to change the date though). I have also drawn the Fibonacci Retacement from $0.00 to the All Time High to get the maximum range. Now...I am in my...

davidperkins1

I'm starting a new series today to help those that suffer from the FOMO Disease. That's right....FOMO is a DISEASE. Just like many other ailments that we suffer from, we have to learn how to TREAT the disease...as I'm afaid there IS NO CURE! I hear people say "Just control your emotions". Easy said...but hard to do. In my years trading, I know I suffer from FOMO...

davidperkins1 Updated 

I've been watching Cartesi - CTSI for a while now looking to start a position as close to the end of what I believe is the end of Wave 2 Down as possible, so that I am positioned to take the best advantage of what should be Wave 3 Up to come next. (Wave 3s are commonly the most explosive, highest wave of an Impulsive Wave 5 in Elliott Waves). Price has just made...

davidperkins1 Updated 

With time,,,,everything becomes clearer. I must admit that these bottoming patterns can be awfully taxing on the nerves...something even the charts can't help with. There are times that price can break in either direction and there are Elliot Wave patterns that could substantiate both. It's not until you see more price action that one may become more confident in...

davidperkins1

I've updated the chart and zoomed in on the 4 hour chart. I added a new down channel in GREEN lines from the last top. Trading looks like it is in an ABC correction with A and B possibly over with C Down starting. The most BULLISH scenario would be if price fell back to the 38.6% Retracement line to complete C Down of 4 Down with wave 5 Up to come next. The most...

davidperkins1

I zoomed in on this 15 min chart as price has moved into a zone that once it moves out of, will help clarify which Wave Count is correct. It can move either way at this point, although the bias is down in the short term...maybe to stay within the triangle that is closing in fast. There is significant BEARISH BIAS in RSI, coupled with running against multiple...

davidperkins1

From the last low @ .00001700, waves 1 & 2 may be over, and price may be in wave 3 Up, that is happening in 5 waves. It is possible that wave 3 of 3 of 5 may be complete and that wave 4 down may be complete. I've drawn in a 5-wave impulsive wave count just for wave 3 Up. It is possible that wave 5 Up will sub-divide into a 5-wave impulsive wave and that we are...

davidperkins1

Price fell out of the channel, which gives a new channel with sub channels in the middle. It is possible that a new low is in and a trend change has occurred. Check back often and click the right arrow to see the progress from this point. If price falls down or to the right of the bottom channel line, something else is going on.

davidperkins1

I've been watching this one for a possible bottoming pattern. One that I just identified is a new possible up channel in aqua. These channels have been working well off these lows...maybe it will work here too. Check back and click on the right arrow on the chart to check on progress.

davidperkins1

Notes from the chart: Possibly the low is in at the last low to end Wave C Down. Possible ABC may be completing as extended Wave 4 Up. Coming up on BIG RESISTANCE line and 200MA line. Will take a lot to breach and hold above. This last push up may be to complete C of 4 Up at the1st touch of BIG RESISTANCE dotted line. Well above bottom red dashed up channel line,...

davidperkins1 Updated 

Most everywhere I listen I keep hearing people stating that this latest rise in Bitcoin is a "Bull Fake". I've seen them...been a victim of them...and I don't know that I could ever be right trying to predict one in advance. All I can do is look at the indicators that "reveal" things to me...that's really why I post these...to share them with you. Comments are...

davidperkins1

I wanted to post the 4 Hour chart with this last surge up before I started making changes. The BIG take away is that this last series of waves pushed up to exceed the range where price might top at the 0% FRL that I put in based on where a BULLISH retrace might come to around the 200ma line on the 4 hour chart at 38.6%. It also pierced the Orange line and fell...

davidperkins1 Updated 

We gotten a very nice pop off the lower channel line and have risen above the last pivot high. I've drawn in a new set of dividing lines (can serve as support or resistance) where price is currently nudging above the top one. It is possible that price could hit the upper channel line where price may reverse back into the main channel. I'm going to move the...

davidperkins1

On the 4 hour chart, the 2nd candle has now closed above the 200ma. I zoomed in on the relevant section so you could see the action more clearly. Some look at this as confirmation that the 200ma will now serve as resistance, but while this is an initial indicator, the 200ma has served as significant resistance in the past. Another positive trend is that trading is...