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BTCUSD, 5th Wave not completed yet!My EW count seems to differ of opinion and that the cycle is not completed. Wave 3 must extend to at least 1.618 which only the last low had done. In addition we need divergence between wave 3 and 5. There is none, there will only be once the new low had been completed. What is happening here right now is that we are going to make a flag for the final push down or just a deeper up correction (fake out) to complete the 4th wave before the final push down. For the 5th wave to be valid it must break the low of the 4th and some therefore $5k area is still on the cards, this cycle is not completed so dont get too excited yet, only once we break the last last can we even consider the cycle completed.
BITSTAMP:BTCUSDShort
by joe2411
2
Bitcoin detailed Elliott Wave Analysis - 4 scenariosbased on Elliott Wave analysis of a drop from 20K I can see 4 possible scenarios: all long term trend targets are not accurate - they are just for the illustration purposes. blue lines are major resistance levels that need to be broken up for the up trend to succeed in the long term. 1. WXYXZ complex correction (blue, high probability) short term = long mid term = short long term = long 2nd X is a failed impulse, consists of 5 waves. (ABC) correction to Z follows ending with an up trend (there will be no 3rd failed X). Target1 = 10750-11000 (end of wave v in wave 3) Target2 (end of 2nd X) = 11600-12200 (end of wave 5) 2. WXY + 12345 up trend (green, mid probability) short term = long mid term = short long term = long 2nd X changes to wave 1, a valid impulse, consists of 5 waves. ABC correction follows ending with an up trend Target1 = 10750-11000 (end of wave v in wave 3) Target2 (end of X) = 11600-12200 (end of wave 5) is invalidated when price will go below ATL 6000 (wave 2 retraces below wave 1 (currently Y) = up trend is broken) is confirmed when price break out of 11600 in wave 3 of a new up trend, after ABC correction 3. WXY, where subwave (C) of Y = ABCDE is a giant ending wedge (red, low probability and it's likely not a wedge) short term = short mid term = short is invalidated when price will go above the red down trend lines - wedge's upper boundary 4. WXY => changes to 12345 down trend (red, low probability) short term = short mid term = short long term = short is invalidated when price will go above the red horizontal line at 10750 (wave 4 goes into wave 1 territory = down trend is broken) Good Luck!
BITFINEX:BTCUSD
by RagingRocketBull
2
What to expect from Bitcoin over the next weekLooking for one more new high above 4470 then a pullback, possibly to the trendline or the 3760 area. This would make the current movement from the 2975 low, a 12 point count spread out over 3 waves. 12 is a valid endpoint according to M4, the counting method I'm using (not using EWP here)... After this pullback, which may be roughly the size of the Sept. 19 move, we should see new highs near or above 5000. I think BTCUSD will well exceed the 5k level over the next few months.
COINBASE:BTCUSD
by trendlab2
ICO trading - SANUSD Part 1 - Buy alertRecently listed tokens can make good trading candidates. Everything you need to know is printing on the daily charts. A low was formed and two previous days were counted backwards to enable green line to be drawn to the right hand side. This is count back line analysis being used to identify a buy signal. A buy signal is a close of the daily candle above the green line. At the moment SAN is on my watchlist. Awaiting confirmation of an uptrend forming. Higher lows printing daily candles is encouraging. SAN has recently been listed on Bitfinex exchange. I found this interesting as they have so few pairs listed for trading. Bitfinex have this week announced devlepoment of a new exchange for trading ETH and ERC20 compliant tokens. So I now expect the next announcement to be that this exchange with partner with SANTIMENT. That could see the charts pop! Stay tuned for part 2.
SLong
by deanbyronbay
USDJPY - What's the big picture?Look at this chart of the USDJPY with weekly candles. It would make sense to at least surmise that there is a temporary top in place. Should we be looking to go long? or short? Below 116.00 should confirm the top for now. The price action from Feb 2nd is twice the average daily range. There are many possible Elliott Wave counts on this. 3 in particular that all seem to fit. 1 suggest a top, 1 suggest a shorter term pull back and renewed upside and another still, suggests a very long term top. With the daily range being so high and rejection of 121.75 to the downside... what do you expect?
by peterdcharlebois