Stellar, Up or Down? Are you ready?
Chart Legend:
A,B,C,D,E = Elliot correction wave
Horizontal Black line = Support/Resistance
Blue Trendline = Current/Major Trendline
Yellow Trendline = Possible Trendline if this occurs
Analysis:
Major trendline= Up
As we can see in this chart, I measured the patterns and they have a deviation of ~5%, in all ups and downs, so I projected the next move.
In the first Elliot wave, point (E) to $0.637 resistance line, it's ~45 %, and in the second Elliot wave, according to the deviation, it will be ~40%, which by coincidence, it's also the 38.2 retracement line. Quick Profit here of 40%.
If we look at the date, in the second point (E), it's 12/02/2018, and the move is until 17/02/2018, which is also according to bitcoin charts, the same time period that starts to recover.
After this move, you may take the profit, or go for Target 2 = $0.63
The Yellow prediction Trendline will only be up for a short time period, and the market will soon return to the major trendline!
Feel free to ask me anything in the comments down below!
Disclaimer: I'm not a financial adviser, I'm not responsible for any losses due to following my chart analysis!
A,B,C,D,E = Elliot correction wave
Horizontal Black line = Support/Resistance
Blue Trendline = Current/Major Trendline
Yellow Trendline = Possible Trendline if this occurs
Analysis:
Major trendline= Up
As we can see in this chart, I measured the patterns and they have a deviation of ~5%, in all ups and downs, so I projected the next move.
In the first Elliot wave, point (E) to $0.637 resistance line, it's ~45 %, and in the second Elliot wave, according to the deviation, it will be ~40%, which by coincidence, it's also the 38.2 retracement line. Quick Profit here of 40%.
If we look at the date, in the second point (E), it's 12/02/2018, and the move is until 17/02/2018, which is also according to bitcoin charts, the same time period that starts to recover.
After this move, you may take the profit, or go for Target 2 = $0.63
The Yellow prediction Trendline will only be up for a short time period, and the market will soon return to the major trendline!
Feel free to ask me anything in the comments down below!
Disclaimer: I'm not a financial adviser, I'm not responsible for any losses due to following my chart analysis!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.