illuminiF0x

illuminiF0x

It’s the first week of March, let’s take a look at the Bitcoin chart to see what price action we might expect in the near term. Let’s start Big Picture on the Weekly Time Frame. Taking the Primary trend from the December 2018 low to the recent Nov 2021 high, we can clearly see a 5 wave structure which meets the Elliott Wave definition of an Impulsive move. Note...

illuminiF0x Updated 

Adding a DOGE long here. Initial target break of the top 0.0193.

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Looking for a breakout to $2034 for ETH on the Daily. Similar to the previous pattern highlighted, a retrace to the 0.618 fib, with a sideways accumulation on high volume. Lower prices rejected forming a Spring.

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Looking at BTCUSD here we see momentum dying out on this grind up as noted by the divergence in both MACD and RSI on the 4hr. I personally don’t think this move is over, as we didn’t see a retest of the May breakdown at 25374, and have yet to see climatic volume and price action that would normally indicate the last hurrah. Also looking on the Daily (see below),...

illuminiF0x Updated 

I'm looking to add to QNTUSD at the 110 - 113 level for a possible short term bounce. The lower time frames are now looking very oversold (1hr - 4hr). The Daily (see below) still looks like it has further to go on the downside. A bounce at 110-113 could see a restest of the breakdown at 120. I can see the downside resuming to the 98-100 area bigger picture.

illuminiF0x Updated 

Looking for XRP to breakout to the upside from this sideways consolidation.

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Looking at the volume profile, the resistance area and the MACD divergence I seethe down move as nearly exhausted and we can expect either a reversal or a large correction. Watching for a breakout of the Trend Line and confirmation.

illuminiF0x Updated 

The low has been broken forming an ABC, with price rejected on high volume. We can expect a reversal here.

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XRP bounces off the 200MA and looks to be breakout to the upside. Immediate targets 1.40 & 2.00.

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QNT continues to consolidate in this range, but looking oversold in the short term. We can look for a BUY setup back to 300 - 320 than see. Maybe it breaks (1) out or a further retest of 255 (2).

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Looking at the previous consolidation for what might happen next in QNT. A retest of the lows and previous high volume area 280 - 320 before continuing up.

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Looking for LUNA to test the high volume area around 35.00 for a BUY and the larger move back up.

illuminiF0x Updated 

We continue to wait patiently for XRP to break this small consolidation back to the larger trendline at the 1.2456 area. No MACD divergence on Waves A & C, which could indicate one more retest of the 1.05 area. We would like to see a solid close above this immediate trendline on good volume.

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MBOX is very oversold at these levels and between the 618 & 786 FIbs we can look for a reversal back up.

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Waiting for a break of the trendline and a rally to the 0.618 or top of the range for TLM.

illuminiF0x Updated 

On the Daily we can see momentum dying off on both the RSI and MACD. Even if this move was to continue, we could still expect a 30 - 50% correction to around 42000 - 40000. Looking closer on the 4HR we can see a clearly defined 5 wave structure. We have divergence on both the MACD and RSI, although the Price Action isn’t behaving as if this move is done...

illuminiF0x Updated 

In the short term we can expect a bounce back to the 618 Fib from here. From the volume profile 1) we can see selling decreasing. Momentum shows to be turning from the MACD divergence 3) and the RSI starting to curve up near the lows 2). The medium term picture still seems to suggest more selling to come. On the daily, we have ultra high volume bars near the...

illuminiF0x

I am looking at two possibilities here for XRP. Option A) we see a retracement to the .38 area before resuming the uptrend B) we fall through the structure and see a retest on the .28 area before the next sharp move higher. Both options see short term weakness followed by a sharp move higher. We can see BTC here for context, which would seem to confirm a...