Abcpattern
BTCUSDTAnother BITCOIN counting wave could be this way. The price is probably at the end of the "abc" correction wave. The pattern, price and time indicate the end of the correction wave, and we also see a divergence in the RSI indicator. According to this wave count, I expect wave C or 3, and this wave usually advances at least as much as 100% of the expanded Fibonacci wave 1 or A.
ETH/USD: Elliot Wave Analysis IIIn this 2nd section, I enfocous to talk about in weekly timeframe and to recall. this it's a study of Elliot Wave Analysis to know what happen in the macrotrend.
We forming in this range 2 times of ABC patten. And that point it's consolidation of the market. So, we would need to know if this zone it's distribution that we could to begin the bear market if Ethereum doesn't support above $1,800 USD. At the moment, what I know it's that Ethereum it's leading to the $1,800 USD price, in that weekly demand zone. And more interesting it's that in the RSI we forming a bearish divergence as the buying force it's weakness in this bullish trend.
FB - Meta Is Showing What Is About To Come In The Stock MarketIn case you've been living under the rock, on 3rd of Feb. at the market close FB has fallen instantaniously for 20% and is since then continued to drop. I am not gonna focus on the news even though they did play a role here. Something had to happen somewhere between those large market cap stock and it looks like FB is leading the crash.
Just so you know i don't believe the entire stock market is bearish yet, just some of the large market caps as this is where long term investors start to take profits first or rotate the money into still undervalued stocks like F (ford) or PTON for example, that haven't had their true bull run yet.
Trying to count elliott waves i think we are close to the bottom which should come somewhere in the upper middle of the 2017-2020 trading range ($180-210). After that a expect typical ABC retracement of some sort back to the 70% of the initial fall to $320 price area (.702 fib. retr. lvl.) before continuing the bearish journey.
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
NASDAQ:FB
BTCUSDT : potential bearish pattern Hello everyone
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BTCUSDT :
Bitcoin is printing a bearish ABC pattern, at the same time, the price reaches the upper line of the potential parallel channel.
I determine the most probable price and time reversal zone.
I used the time projection of wave A to estimate the end of wave C. Also, I used Fibonacci projection of wave A to determine the probable price reversal zone.
Let's look at USDT dominance chart to find out investors inclination to change their coins to USDT, and vice versa.
the price reaches a very important support zone, at the same time, it reaches the lower line of the potential channel.
Conclusion:
Bitcoin reaches a very important situation. These reasons produce higher level of risk for buyers. we have more evidence for bearish wave of BTC price.
ATOMUSDT ABC structure on weekly chart? I'm looking at 2 scenarios, if the bullmarket will continue, we might drop to prices around 20$ and it could look like ABC structure and we should be going to new ATH's. Imo BTC is going somewhere below 30k (28-30k bottom) which means blood on ALT's if BTC-D goes up.
this is not financial advice ;)
ABC completed with an SFP into a daily level, expecting new ATHC finally reached the 0.382 and made an sfp on 4hr TF taking the A low and all the stops under it touching perfectly that daily level in brown (last untouched daily of the range, significant), on 1hr TF we had a bounce on the 0.705 (typical institutional bounce), confluence here
and stochastic rsi bottomed on high TF, ideal condition for a bounce