whoisthelorax

whoisthelorax

Images coming in the comments basically btc is in a WXY we are in wave C of the Y wave 5, completed subwave 1. (if this count is correct)

whoisthelorax

this count suggests we are near the end. i have more bearish ones but i like this one the based with fib ratios. although the 4th macro wave only retraced .236, coincidencing with very bearish outlook. would prefer to see that one retraced a bit more but oh well.

whoisthelorax Updated 

TLDR -truncated 5th in A wave makes sense, takes care of the problem that the entire push down to $6k cannot be an A wave (due to significant 1/4 overlap) -we are NOT correcting the entire move from the 2015 bottom, but the elliott wave cycle started in 2017 (see michaelvandepoppe full EW count in 2017 as completed 1 and 3 waves)

whoisthelorax

The idea is simple. look for key moment in a chart where large consolidation is coming to a head. most recently we had this occur. multi month triangle coming to a head. bulls... thinking we would break out of the consolidating triangle and ignite a new bull run. 3 apparent higher lows on the daily. fundamentals getting stronger every day institutional...

whoisthelorax

bard garlinghouse took to the media circuit to predict that altcoins would break the btc correlation soon, "when markets become more rational". Chances are xrp has realized btc will dump to new lows and their USD chart would almost certainly break the high of 40ish cents from wave 1. i'd recommend shorting btc or eth or ltc or anything them. but if you wanted a...

whoisthelorax Updated 

even steve puri bears must admit this is the most bullish chart in crypto. above all key moving averages massive ascending triangle tons of consolidation on macd and RSI, room for massive move upside blue sky breakout could be 5x-10x IF BTC BREAKS BEARISH weak pump above .02, BNB <$25 IF BTC breaks bullish easily $100+ BNB, possibly $200

whoisthelorax

Looking good so far...

whoisthelorax

i think the head and shoulders formation would be glorious as it would pit the bears and the bulls against each other more than they already are..which should create some volume.

whoisthelorax

Truncated C wave here would be quite bullish. More like we dump down to 5.8k area. look for this consolidation pattern to stay intact.

whoisthelorax

I'm thinking the bear count makes more sense right now, but thinking of alternatives...

whoisthelorax Updated 

just observation. no fractal is perfect but this is quite close.

whoisthelorax

So qtum's biggest move of 2017 came when the RSI absolutely hit rock bottom. An abysmal low 13 on the 4 hour and 16 on the daily. Ouch. Fortune favors the brave, however, and QTUM rocketed to new highs. what can we learn from this? 1) don't buy until it REALLY hits bottom. i don't care if you haven't seen a daily RSI below 18 before. get ready to see one. 2)...

whoisthelorax

If bullish, we bounce near 50 MA. if bearish, we end up down at 100 MA. I'm leaning bullish...50 MA plus trend line support plus log chart bull flag. even still, I'm expecting at least 2 months of range trading between 13k and 7k, some of which has already begun. please keep in mind at these time frames you can pierce right through these averages, as evidenced...

whoisthelorax Updated 

We all know market makers and whales are playing with us during these low volume plays. The Market Manipulation if they are planning to go bullish Purposefully ambiguous wave 1. Virtually no standard pullbacks. Make people wonder is this corrective or impulsive? -this ambiguity leads to people incorrectly thinking the fall from 11.6k to 9.3k was a wave 4...

whoisthelorax Updated 

BTC is holding everyone back. Once the Stoch RSI gets moving towards the other side, there is no guarantee it makes it. But follow the consistency across the top cryptos. We are close. XMRUSD LTCUSD predictably leading the pack ETHUSD The weakest for sure... XEMUSD ZEC, BCH excluded because they have short histories that don't apply well for...

whoisthelorax

Not saying I'm short. just saying it's as big as I've ever seen on the daily TF. watching.

whoisthelorax

Symmetrical triangle, continuation pattern. It allows things like the daily and weekly moving averages set up new floors for the price. This will be MUCH better, IMO, than us just rocketing off beyond 20k in the next month. since we can see the 200 day MA creeping up rather quickly at 8600 currently, and we know for a bullish situation we need to be above the...

whoisthelorax Updated 

Everything is tied to bitcoin, so after we consider the two options, we will consider the likely scenario of how these could play out. Option 1: EW preserved, we never close a daily candle below 3000 satoshi. wave 5 can take off when FA gives it a boost. (Fairx ?) Now, the 3 likely BTC scenarios 1) btc crashes to make LL that $6k. risk assessment:...