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Abccorrection

aELF - Target 1 reached ... can we go to Target 2??Hello All, Here's an update on aELF. So those who followed my call last night would have woken up to a 15% profit this morning. BTC is expected to make a pullback and could very well be doing that now (this appears to be wave b of an abc correction up). Once wave b is complete, BTC could start moving up in wave c and that could propel ELF through resistance. IF wave a of the ELF correction is over (it might not be), that would make wave a $0.25 long ... and assuming wave c does the same ... this could bring us to the next target level of 1.55. For those who bought low, perhaps take partial profit, but it may be worth the gamble to see if we can get to 1.55. Personally I'm holding, as I don't see a huge BTC drop coming in yet. I have raised my stops though so I do protect some profit. I'm willing to give it a shot, given generally most believe BTC will continue to 8600 - 8800 level ... there could be some good profits to be made on ELF! Remember only a fool relies on one potential outcome. Do not make financial decisions using this info. For educational purposes only. If you wish to make a donation, based on profit you made on my ideas ... it would be greatly appreciated. BTC address 14i2Xit5pH7Sz5TMegDn8vDT6VcoN85f42 ETH address 0x8a62eE1B2628297EA51aD08dadFFCed3F73e6eed LTC address LXoyzmL85HvED1LyHkJtGygUPbBUZd
E
by MAGICMARK
1
BTC update ... still in the corrective wave upHello traders. So some of you would have seen my previous ideas, showing both a bullish and bearish scenario for BTC. After what could be one very long A wave down (see the GOLD line from 10k to 7.9k) we are possibly now in a corrective WAVE B up. This wave B will likely be made up of an abc wave. We are clearly trading in the channel shown, and only once we leave the channel will we know that this wave a of the smaller abc is over. Assuming that happens soon (I have no indication of this other than BTC is having a tough time breaking 8250), wave a could very well have peaked at 8277 from 7925, so we picked up 350 points, depending on how low the small b wave goes (I don't think much lower than 8k) we will have an estimate for the end point of wave c ... if we assume it's similar in length to wave a. I don't like guessing, but I'd say one possibility is wave a is ending, wave b goes down to around 8050 where we have a fibo level, and then up 350 points to 8400. I would call this a pretty lame ABC correction ... but it is 500 points so maybe. Personally I'm expecting the ABC to go up to around the 8600 mark where we would have a decent retracement before we kick off the next round of drops (or continue the rally to much higher levels ... the lower probability scenario). Remember, only a fool relies on one potential outcome. Do not make financial decisions using this info. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
BTC, Back to the Drawing Board!OK, I've been reading up a little, trying to make sense of the downtrend since Dec 2017, as well as the recent rally. I admit I sold out to early, getting excited about 40% profits, and thinking a reverse is around the corner. I guess it's better to be safe than sorry, but I could have made another 30% on some alts ... oh well, no point looking in the rear view mirror. I've decided to revisit the grand scheme, and simplify things a bit. Here's what I think. Based on Elliot wave theory, two grand schemes make sense right now, if we are to observe the rules! The first is we had a running flat ABC correction that ended at 6500, and now we begin another impulse up (and we are in wave 1 of the impulse), see RED wave. The second is we are in the D wave of a triangle wave, see ORANGE wave. I just cannot see us ignoring this current uptrend and averaging it into wave C of an ABC correction. So although I remain bearish in the short term, I do think that would mean we are in a triangle wave and 6700ish is the bottom. Look, obviously, no guarantees, but I'm slowly letting go of a 5k or 5.4k possibility. Maybe 6k is my worst case bottom right now, but 6700 is the highest probability. BTC 0.92%has been trying to crack 9177 many times over the past few days, and failed. Surprisingly, it hasn't reverse yet. At some stage, whether this is wave 1 of an impulse up, or wave D of a triangle wave ... it has to reverse. 9177 seems to be giving BTC 0.92%some trouble, so I'm still planning on a reversal with a 6700ish bottom. Either way ... we have to be prepared. If we do go above 9177, still no guarantees, but it starts to drop the probability that this is a triangle wave, and that we are likely in an impulse up. The question then is, how far up will wave 1 go ... again it has to reverse at some point ... so how the heck can we play this? The one way I know how to play this is to wait, and have confirmation. We need to see the reversal, and see the bottom of that reversal. That in both of the scenarios I have discussed (triangle or impulse wave) will be the likely lowest prices we see for some time. No doubt more potential investors are now looking more closely at BTC 0.92%, and some asking is it time to long ... it's easy to get a sense that the market is changing. I know some are still waiting for 4k (or lower), and by no means am I dismissing that. But again, right now, based on what I see, the odds are low. So here's my game ... by in ALTS if it goes above 9200, and make sure I put in tight stop losses in case it reverses. In fact I'll probably put in a trailing stop to try and time the sell off. If it fails here, look for an opportunity to short, with a view to take profits starting at 7200, 7000 then all out at 6800 (in case it reverses early). Then buy into ALTS at lower prices ... when I have some confirmation we have reached bottom. Start staggering bids at 6700ish, with tight stops, in case things go more south than I expect. Remember only a fool relies on one possible outcome. Do not rely on this information for investment decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
7
TRON Is Ready to Break Out - And YOU Might Make $$$ (TRXBTC)Dear Friends! <3 D4rkEnergY is back with an analysis on TRON - the coin you either love or hate. But forget about that for a second. Because at this very moment, you might be able to make some money on TRXBTC! As you can see we have had a normal 1-5 Elliott Wave Structure followed by a combination corrective pattern (ABC-zig-zag and Triangle ABCDE). At this very moment we have restarted a new Elliott Wave structure. We are on the 3rd Primary Wave (in blue) AND the 3rd sub-wave (in pink), which are the most powerful waves. RSI and MACD look good, and an we will soon see a bullish MACD-Cross. Even though BTC dopped 200 dollars not long time ago, Tron showed its strength, and manage to fare as good as BTC. Monitor this chart, my friends! We are about to break out from the ascending bullish triangle and kick start that 3rd Wave - You might make some good money here :) D4 Loves You <3 Please LIKE this chart - You know, that it makes me so HAPPY :)
Long
by D4rkEnergY
64
Elliott Wave Analysis | Possible BottomsThis EW count suggests a possible sub-wave iv bounce before possibly heading down on sub-wave v to complete the 5-3-5 ABC correction of the larger degree. As long as we stay above the wave (1) low, there may be an uptrend following this correction. However, if we retrace below this level then this would signal the continuation of the bearish trend. Fibonacci retracement levels for sub-wave iv are shown in green. If we manage to break above the wave i territory, then this would be a bullish signal. Fibonacci extension levels for wave (C) are shown in the light red. Fibonacci retracement levels for the larger degree ABC correction are shown in red, which could also be the low for wave (C). A retracement past the 100% level would signal the continuation of the bearish trend, as mentioned above. This is just an idea and not financial advice.
BITFINEX:BTCUSD
by madwarrior
Good Bad Ugly ! - 3 Plan Of BTCHello to all my dear friends In the previous section, we reviewed this chart ... We are currently starting the third wave Due to the large amount of investment at this point, probability will be among the best support lines for our future Well, we have three options Probability of Plan A: From 11400 we start to climb and go up to 12,000 and retreat This plan is 70% likely to run The probability of Plan B: We'll be investing between 10800 and 11,600 for a short time and then back to the 13400 support line. The plan is 25% likely to run And but ... The last chance The probable occurrence of Plan C In this plan, we can not cross the resistance line of 11600 correctly If this happens, we have 10800 strong support, which is very likely to fail This plan is 5% likely to run ... Finally, if you're the one who believes Bitcoin falls to $ 3,000, I'd have to say that it's likely that this incident is 0%. Reason: The market is growing at a very low level of capital If we had a lot of capital and we were going to decline, this might have happened, not in these circumstances ... Comment: Immediate refueling will be done at a very high speed, and we will easily reject the 12,000 border ... This post will be updated at any time So follow us to get the latest news Thanks to all the loved ones who supported me Good luck
BITFINEX:BTCUSD
by SRNOSTRADAMUS
23
ADA/BTC bearish continuation or possible trend reversal? After a massive bull run, ADA is doing a ABC correction. Also we see a falling wedge, if ADA falls through support (yellow circle), I expect bearish continuation. The 0.786 fib line (2250sats) could be a perfect buy zone. Buy orders should be placed within the red box. If ADA hold support at this level 3000sats, then I expect upward movement. The RSI is oversold, this triggers people to buy. When we hit the upper line (resistance) and volume kicks ADA could breakout, This indicates a trend reversal, possibility for another bull run. This is not financial advice. If you have any feedback or remarks, please feel free to comment below. Peace and trade safe!
by paultje
BTC loosing momentum; potential bounce off 7750 | ABC CorrectionThe b wave (apart of the ABC correction in the white lines) appears to be topping near 9000 before either breaking through resistance or moving on to the c wave of the correction. Following the c wave, we might see a bounce at around 7750, a support level formed earlier by the low from the impulse sub-wave iv. Failing to bounce before this level will expose lower levels and form a bearish trend. Piggy-backing off philakonecrypto's idea here: steemit.com
KRAKEN:BTCUSD
by madwarrior