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BTC 6k Elliot Wave TheoryI see a 5 wave Elliot Wave Theory completed at 5k with an A-B-C retracement that took us down to 3k. This is when Dimon and friends called bear and started buying. It looks like we completed the retracement and are now in the middle of another 5 wave bull. Using fibonacci levels extended from our old ATH of 5k to our low on this retracement of 2950, the 1.68 puts us right around 6k for the top of this wave. For waves 4 and 5 on my chart, I literally copied and pasted wave 4 and 5 from our run to 5k, to get a similar size and feel for the length and duration of the waves, and it also lined us up at around 6k. Sorry for the short analysis but I would put stop losses around 4750-4900 and start taking profit above 5750-5900. Happy Trading and Good Luck!
BITFINEX:BTCUSDLong
by Meteorite777
Bullish consolidation for LTCUSD pairing, retest of ATH?Bull flag in the form of an ascending triangle. Entry point is placed just above current resistance at ~$82.50. Looks like bulls want retest the $100 mark, so profit targets are set at key resistance levels as they correspond to the Fibonacci retracement (78.6% and 100% respectively) from the most recent all-time high (GDAX: $98.28). The $77 price point correlates to the 38.2% retracement level, and has served as solid floor of support for a few days. Stop losses should be place just below this support, as a drop below here will break two short-term uptrend lines - and could signal a retest of lower levels of support (key support at $64). Stop: $77.00 Entry: $83.00 PT1: $90.00 PT2: $98.00
COINBASE:LTCUSDLong
by tl93
2
BTCUSD Perspective And Levels: Wave 3 Of 5. Where Is Wave 4?BTCUSD Update: Continuing to push all time highs now almost a week after the hard fork. There are no resistance levels except for psychological whole numbers like 3500. As strong as it is, nothing goes up in a straight line, it will retrace. When exactly? There is no way to tell, but we can get an idea as to where it can retrace to. The closest support level is the minor support at 3076 (.382 of 2617 low) which would be the first place to look for a retrace to. If this level is taken out, that would signal further weakness and possibly lead to a broader retracement or consolidation. Just below that level is the 3003 previous all time high which should now act as a support. A retrace to this level is more likely to produce a bullish reversal and a level I intend to watch closely. A break below that will open the possibility to a deeper retrace back to the trend support at 2792 (.382 of recent bullish swing). If that level is broken, that would signal a broader consolidation is in play and call for more conservative strategies. These support levels fit very well into the Elliot Wave landscape which clearly indicates that we are in a larger degree Wave 5. Within this Wave 5, a subdegree Wave 3 is upon completion which increases the probability of a subdegree Wave 4. In terms of price structure, a subdegree Wave 4 completion makes sense at the 3076 or 3003 support levels. At that point it would be reasonable to expect a subwave 5 to complete the broader Wave 5. Some less experienced participants don't seem to understand that these evaluations are not predictions. They explain possible scenarios to be prepared for IF they happen. This is how professionals are able to anticipate because they already have a plan if the proposed scenario appears. While the inexperienced trader has no plan, and relies on emotion to guide their decision making. BTC may never pull back to 3003, but if it does, we know what to do, and if the level breaks, we know what to do also. In summary, the BTC market has more upside potential, but is likely to retrace to the minor support levels before continuing to new all time highs. Once the subdegree wave 4 completes, the next Wave 5 can take this market beyond 4000 in my opinion which implies strength for all the altcoins as well. Keep in mind risk is something we must always manage as traders, and that is why I do not blindly buy into new highs. Buying opportunities will materialize, it is all a matter of patience. Comments and questions welcome.
BITFINEX:BTCUSD
by MarcPMarkets
19
SHS + High Volume + BTC FUD = New LTC ATHsShort term short opportunity has presented itself in the form of a SHS pattern, which formed as a result of the recent upswing in price and volatility. Neckline to peak measurement suggests we could retest $42.29 (.236 fib level). However, I believe that support at the $44 level will hold, and serve as a base to continue the climb upward. Based on LTC's past trading patterns, we could see a new trading channel forming between $45 and $55. My overall sentiment for this market is bullish, and I suspect a retest of the ATH by week's end. Disclaimer: Do not base your investments off of my TA alone, do your due diligence and make your own decision. LTC tip jar: LWVxqWdJsKPSriBjqTjWieKH3fZPd12oiC BTC tip jar: 16QTC3Z6R8BsRqSL5GKEeiXNjjgn1yYQjJ ETH tip jar: 0xf6EDd54095c656d38Ae1cF7D579926845B6307ed
COINBASE:LTCUSD
by tl93
2
Inside bar without any resistanceAs we all know, inside bars suggests a continuation of the trend or a reversal of it when forming on notable resistances/supports, USTEC has continued its journey to the moon after the recent huge decline. Buying a stock after reaching an all-time high, after retracements, is alright. I've been holding two long positions for the past weeks with an open TP, and I will hold so. //Jim Cramer is one of CNBC’s top stocks analysts and a former hedge fund manager. In an edition of Mad Money, Cramer explained that he is often inclined to buy stocks that have reached fresh all-time highs, providing they have been rising consistently, and have pulled back since reaching their latest high point: "When I'm ready to establish a position, I wait for a pullback to come that's at least 5 percent down," Cramer said. //
TVC:NDQLong
by bearvsbullmarket
1
VRC BTC POLONIEX 4H All Time Market Cap HighsA congratulations are in order for the Vericoin Blockchain, which has now reached an all time three year High of 9.01 Million dollars. Heavier than normal volume today pushed the price up to and past the current trending channel, yet pulled back dramatically as volatility and intra-day trading opportunities become more fruitful. It seems as if the bulls and the bears on this pair are slugging it out on the charts for some intense price action. I still do expect a consolidation period, and after todays break to the up-side I expect the consolidation to test channel lows with force. When though is the question. Things with Vericoin are surely heating up as the chains value inches above all time Market Cap Highs. If you are more interested in Vericoin and would like to find out more, below are some resourceful links. Homepage: www.vericoin.info Slack: vericoinandveriuminvite.herokuapp.com Twitter: twitter.com GIT: github.com Roadmap English: www.vericoin.info Roadmap Spanish: www.vericoin.info Roadmap Chinese: www.vericoin.info My Twitter: twitter.com If this has helped you in any way & you are inclined to do so, a small thank you can be sent below every little bit helps us small timers. BTC: 1um3313w6fJhrfirj9mXz7y2GAm761Tqq VRC: VHqBcdAjkXVbaxZ7EsXsBzy2LLNyicgzDT
V
by BTCFailWhale
BTC USD heading for at least 2250 USD?Mega Cup and Handle formation could be indicating a big move to at least 2250 USD (with a few bumps in the road along the way). Plenty of FOMO news articles surfacing in the mainstream. Segwit as well. Previous cup and handle projections extended further than the forecasted magnitude, however the target zone ended up as future support once the correction started. 100 day moving average reached new highs a couple months back. RSI has room to run, especially when compared to the relative strength of the previous moves, relatively speaking!
BITFINEX:BTCUSDLong
by FOMONOMO