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ABC

BTC/USD Correction/Bear ScenarioThis is how i feel about Bitcoin: We are currently in an ABC correction of the previous 5 wave structure. We have confirmed the bearish count as we have a clear B wave Currently on C wave (looking for our 5 subwaves) Using fib extension from AB and subwaves, my prediction for C wave is roughly $6200-$6500 My prediction of C wave (SW 5) also has confluence: 1) An extension of 100% from Waves A+B for C 2) An extension of 261% from Subwaves 1+2 for 5 C SUBWAVES: W3 looking to bounce around the 161% level W4 looking to hit around the 38-50% range W5 looking to hit roughly the 261% level
BITSTAMP:BTCUSDShort
by nickd534
GBP/CHF sell updateThis is the idea on Gchf. I just want to point out the amount of divergence coming in on the 4hr. Check out the 1hr. I believe it came down from top in a leading diagonal indicating further downside. I think it will either drop from here or make a small wave 4 and go up to .618. This is about a huge swing and trying to catch an entry on wave 3 that I can hold. It made a small ending diagonal on 1 hr and went sideways, pending breakout at trend line. It could be on wave 3 of the smaller 5 wave, but may have been 5. Keep in mind, I have explained this pair many times on my weekly outlooks and such, I suggest you follow the videos on my link if you trade with me. This was a long corrective pattern which finished with a huge ending diagonal and double top. I am definitely looking for more downside and if it was to drop from right here, the 1.618 fib extension takes you straight down to the 1.22600 level at the major supply zone. Also keep in mind I understand more modern forms of wave theory and that the market does not always follow a basic elliot type count, but that is how I see this within this smaller structure. That would make this an expanded flat as of now. Also keep in mind this is a Chiffy pair and may test your patience and risk management skills, plus this A-B-C can just be part of a more complex "B" wave, possibly pushing up to even the .786, but definitely needing at least one more push down even if only corrective, in my opinion, however this pair has the potential to even fall out the bottom and break the low of structure being a wave 5 down on weekly.... eh, out of breathe.
Short
by thillygoosth
Shocking, Secret Facts. Part IISee the purple circles, history repeating itself, Cash Is King. Here we see a classic ABC pattern formed where we have seen trend advance down, we pulled back, now we shall continue. We have seen this last time nothing has changed. You will see below part 1 of this post where we had an analysis on $6000 and showed the last drop to this drop, this is still in play. I believe what we have formed here is just a simple ABC pattern it has pulled back to test the level and the .618 fib now we will break the 200EMA and be back on track with my initial post part 1. I am yet to have the chart tell me anything other then this scenario, we don't have volume pouring in it's falling out. In 50% of break outs whether it's downward or upward you will see the ABC pattern it will always pull back and retest the level then continue in the same direction. This is great if you are shorting as we were headed down and if you missed your short here is another opportunity to take it. Sell as soon as we cross that 200EMA. I am going to find an alt to trade for you all tonight and let's pull some profit, not big profits but let's make it a stable profit that's low risk. Cash Is King, All aboard the money train. Part 1 attached below, this scenario is still in play and still stands.
BITFINEX:BTCUSDShort
by Cash-is-King
8
BTC HEADED TO 6K! GET READY FOR THE CARNAGE!!!Hey guys, in my last idea I posted that I would post a new idea with an alternate wave count since the last idea was invalided due to price action. Here is the new idea. There are quite a few other reasons besides the wave count that make me very confident in this idea, but this idea will mainly focus on the wave count. I may post updates highlighting some of the other reasons I believe we see a sharp drop if I get the time. As always, this idea is for educational purposes only and should not be taken as financial advice. NEVER trade solely based on someone else's opinion. Use these ideas to validate your own! On the chart here we can see a 5 wave impulse followed by a sharp drop which I believe to be a Wave 2 retracement of our first impulse up. Note this wave count assumes the correction from 20k ENDED at the 6k lows we reached and that this is the start of a fresh bull cycle with 5 large impulse waves (that will take us to new ATH's). Currently, I believe we are at the peak of our B wave in this simple ABC correction. Note that the pink trendline is coming from our ATH and second highest peak, so it is a very strong resistance level that we are testing at the moment. The first red horizontal line is our conservative target which would give our Wave C (of the ABC down) a length equal to 61.8% of Wave A. The second target gives our Wave C a length equivalent to 100% of Wave A. NOTE the third target IS NOT POSSIBLE WITH THIS WAVE COUNT, but I have placed it there because if we do go below the last low of around 6k, it means the correction from 20k has not ended and the 3k level target comes into play. As always, feel free to ask questions in the comments and give this idea a LIKE if you think it was useful!
COINBASE:BTCUSDShort
by CredibleCrypto
2
Classic Set up! $$ Makes Sense! Hey Followers I love these technical little trades, I think so many people miss them. On ETC/BTC, we have a double bottom formed (Circled in Blue) and a rally up through Resistance and the 50 EMA, price is now pulling back (turning resistance to support @0.00265. If we get a pullback to the level 0.00265 or the 38.2 Fibonacci retracement I will look to enter. The aggressive entry is to buy at the level, and I am likely to take that one. The conservative entry is looking for a bounce off the level and a Bullish Decisive bar on a shorter Time Frame (Maybe down to a 15 Minute chart), and then buy the break of the high of the bar. Aggressive entry, bottom of pullback at .00265 level (or above) Conservative entry close of bar over .00271 (so can buy above this price) Stop loss for either trade 0.00263 Targets are just before the blue lines on my chart at 0.00275 Target 1 0.00295 Target 2 0.00316 Target 3 You will need to get into this one quickly when the chance arrives. There is also the airdrop for this coin in around 24 hours so unless you want to take part in the airdrop (not my thing) i suggest we DO NOT hold this trade too long get in get out bank profit.
Long
by DollarsAndSense
NANO/BTC ready for another bull run and breakout!Hello traders! I have taken a look in Nano/Btc since this really popular right now! This looks like a triangle where the ABC correction has been present and we are now already in 1-5 elliot impulse bullish trend. we are now at the second point and at the perfect buying area if u like some risk in here since it has bullish signs! The other point will be just after the breakout from the triangle and more secure way! Note:rsi is turning around too
NLong
by Cidoguy
Bitcoin Completed his Correction or still Correcting?Hey Everyone! I am back with another Idea/chart. This time looking again at Bitcoin. On chart you can see clear Elliott wawe in uptrend with a ABC correction. It seems like the wawe is completed although the C could be A its a 50/50. You can also see 3 Elliott wawes with ABC correction that just confirms the whole Wawe. The last 5 Wawe is confirmed even with a Head and Shoulders pattern, thanks Bitcoin! The whole wawe was really bullish which has confirmed the RSI, even MACD has heavily shown you the down trend end. Okay, so right now BTC has 2 options of correcting in ABC. 1 - We have already corrected looking for an Impulsive wawe to start another Elliott Wawe. 2 - We are still correcting looking for a lower price. Keep an Eye on RSI, Volume and most importantly on MACD if its gonna cross or not. My buy would be at 9015. Hope you liked my Idea, leave a comment down bellow with your opinion, I am responding to all of them! I will keep you updated! Thanks, likes are appreciated.
BITFINEX:BTCUSD
by TiborVrbovsky
1
BTC To Bounce at 9.2k For FINAL Push UP! Then...LOOK OUT BELOW!Based on my EW count we are nearing the end of the 4th Wave down of this 5 Wave impulse (Blue Lines). Wave C is coming to an end and we are looking for it to end at approximately $9160. Ending here would make Wave C (of the ABC correction that Wave 4 is made up of) .618 the length of Wave A, and we know that Wave C and Wave A tend to relate to each other with a fib ratio (such as .618). Furthermore, if we look within our Wave C and count the subwaves (Pink Lines) we can see that this Wave C is also made up of another smaller ABC correction, and ending at $9160 would also make this smaller Wave C .618 of the smaller Wave A (both drawn with Pink Lines). For educational purposes only, entering a trade here would give us a very good risk to reward ratio. We would place a stop-loss at $9050 (going below about $9090 would invalidate this count as our Wave 4 would overlap Wave 1 high point) and enter long between now ($9300) and $9160. Upside is huge as our Wave 5 is likely to be extended since our Wave 1 and Wave 3 were not extended. This extension can take us to 13k or higher levels giving us a 1:10 (or higher) risk to reward ratio. Wave 5 targets will be determined once Wave 4 ends (unless of course the idea is invalidated). Finally, after this Wave 5 ends we can expect a larger correction that takes us to sub 9k levels (Hence the "LOOK OUT BELOW!" part). Ideally we want to exit the trade as close to the end of Wave 5 as we can and re-enter at sub 9k levels. ***PLEASE NOTE, THIS IDEA IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH***
COINBASE:BTCUSDLong
by CredibleCrypto
USDWTI (Oil)First we got a pretty good resistance with a double top, which means we have a possible 2618 trade: - double top - measure impulse - wait for retracement at 0.618 Double top + 0.618 = 2618 technique I measured bearish impulse so I could confirm areas with some Support & Resistance and we can see how each pattern or consolidation was formed around those areas, even fibonacci retracements respect those areas. Also used some Support & Resistance on MACD to confirm divergence. BAT PATTERN -Left Leg At first there's an ABCs formation right at where bearish Bat Pattern began, we can see how it went bearish forming an Elliott Impulse with 5 clear points and each consolidation that was formed respected fibonacci retracements. -Right Leg After an Elliott Impulse there's always some type of consolidation, which is exactly what we got with that double floor at the bottom, right after that retest it formed a pullback that I measured with Trend-Based Fib Extension, we can se how 1.618 - 1.414 area is exactly around bearish area. We got 0.886 -0.786 area from Bat Pattern, 1.618 - 1.414 area from Trend-Based Fib Extension and 0.618 from 2618 technique all at the same area!!! Good Trading. -1h Chart
FX_IDC:USDWTI
by DanielParra99
11
LTC HEADED TO 300+! THE BULL RUN HAS BEGUN!!!Here we can see LTC starting the first 5-wave impulse up after completing a very long correction. As we know, LTC was the first of the major cryptos to bottom out (at approximately $100) and then quickly rally to over $200 within a matter of days. We know that reversals tend to be swift once a correction is over so this quick drive up indicates we are seeing the first impulse wave up (and the start of a new bull run) of a larger 5-wave impulse to new all time highs. The chart shows that we have completed the first impulse wave up (wave 1) and are now smack dab in the middle of a corrective wave (wave 2). The second wave in a 5 wave impulse is a corrective wave and works against the prevailing trend. It can take the shape of a zig-zag, flat, or triangle but we normally don't see triangles in 2nd waves. This particular corrective wave seems to be an ABC zig-zag. I have also shown the sub-waves of a lesser degree within waves 1 and 2 for your reference. Note that wave 1 has 5 subwaves (12345) and wave 2 has three subwaves (ABC). Targets are marked with green horizontal lines. The first is the .50 fib retracement of wave 1 and the second target is the .681 fib retracement of wave 1. Wave 2 CAN retrace up to 99% of wave 1, but because of the very bullish sentiment we are seeing I find that to be highly unlikely. Wave C of the ABC also tends to equal wave A in length, which makes the .50 retracement the most likely target (right around $200). Furthermore, wave 3 is often the longest and most powerful impulse wave up (out of waves 1,3 and 5) and I want to make sure we catch the train before it leaves so I will settle for the more conservative target of the .50 retracement rather than aiming for the .681 and possibly missing the next leg up. Feel free to ask any questions in the comments and I will also update this idea regularly. ***THIS IDEA IS JUST MY OPINION AND SHOULD NOT BE TREATED AS FINANCIAL ADVICE***
COINBASE:LTCUSDLong
by CredibleCrypto
6