MATIC has almost completed its bearish correction. We are now on the final 5th wave (subdivided into 5 waves) There is still a chance to get in on the final shorts with hard stops above the blue structure. The bigger trade will be getting in on the bullrun. Expecting price to go below the recent lows to fulfil the wave 5 criteria. Trade idea: - Watch for 5...
Following on from our last post, we are now seeing the final bearish wave lower. This wave consists of 5 subwaves. We are currently on the 3rd subwave, which is made up of 5 minor waves. Expecting price to stay below below the dark blue trendline for this subwave. Once we complete the 5 minor waves for subwave 3, we're expecting a subwave 4 ABC correction. This...
Bitcoin is in an ABC flat correction, consisting of 3-3-5 (ABC) waves. We are currently in wave C, which is made up of 5 waves. In our last analysis, we identified the 4th wave and anticipated a breakdown for the final 5th wave. We are now in the 5th and final wave, which is broken down into 5 subwaves. We require price to go below 17.6k in order for wave 5 to...
Ethereum is in a bigger ABC correction and we are now on wave C, which is made up of 5 waves. We are finally in the 5th wave and this is where the madness begins. Where is the bottom? Do I buy now? Should I short once more? There will be crypto sceptics shorting Eth believing this is the end of Ethereum and on the opposite side, loads of bargain hunters...
Similarly to Bitcoin, we were anticipating the 5th subwave drop but the 4th subwave has turned into an extended ABC correction. Watching the recent highs and the parallel correction resistance for bearish price action. Trade Idea: - Watch for bearish price action around one of the areas of interests mentioned above - Draw a trendline and watch for a break for a...
Ripple is now moving towards its final lows for this bearish correction. We are anticipating price to reverse around the 0.12 - 0.13 level but we'll see how price action is once we're near the bottom. Right now we can capitalise on the final shorts! Trade Idea: - Possible entry now with stops at 0.40 - Targets: 28, 20, 15 Goodluck and as always, trade safe!
In Elliott Wave, the C wave usually has 5 waves which follow the impulse schematic, which is: Wave 1 = 5 waves Wave 2 = 3 waves Wave 3 = 5 waves Wave 4 = 5 waves Wave 5 = 5 waves We can see that we're on the 5th wave now. The 5th wave is also subdivided into 5 subwaves and we are currently seeing subwave 4. Expecting one final move down (subwave 5) to complete...
What is Divergence? Divergence indicates to us that a trend is losing momentum and could be ready for a reversal or a deeper correction soon. When we see divergence, we should be cautious when trading in the direction of the trend and look for countertrend/reversal trades. How to identify Divergence? When price is making lower lows, MACD (or RSI ) will show...
Following on from our last post, we indicated that there's a final bearish wave left. We are now on the verge of breaking down for the final time. Once this bearish leg is completed, we will be looking for bullish price action for the next bull run. Shorting Bitcoin here will be a bit risky with limited gains to be made. The bigger and better trade would be to...
Atom has almost finished its corrective phase. We are anticipating one more drop before we take off. SHORT Trade Idea: - sell entries now with stops above 9.5 - Targets: 5, 4, 2.5 LONG Trade Idea: - Once price moves lower once more, look for bullish price action - Enter with stops below the lows - Targets: 20, 40, HODL the rest Goodluck and as always, trade safe!
In one of our previous analysis, we showed a short setup from $23 with targets of $10. We achieved that target and made raw gains of over 50%! We blew past our short targets and now we are approaching the final legs of the bearish wave. We are expecting bulls to jump in as soon as this final bear leg is over. On lower timeframe we can see that we're making our...
AVAX is following the Elliott Wave Impulse schematic. Wave 1 has given us a 5 wave impulse. Wave 2 is showing us a 3 wave ABC correction - We are currently on Wave C of the correction Wave 3 is the next wave we are expecting, which is often the biggest wave. Wave 2 - ABC A wave = 3 waves B wave = 3 waves C wave = Seeing a 5 wave move down (which follows the...
On the higher timeframe, Bitcoin is on the 4th wave, which is an ABC corrective wave. We've seen Waves A and B and now currently on Wave C which is a 5-3-5 zigzag. 5-3-5 ZIGZAG: W has 5 waves (follows impulsive schematic) X has 3 waves (follows corrective schematic) Y has 5 waves (follows impulsive schematic) For Wave W, the 5th wave had 5 subwaves and it...
Our last couple of Bitcoin analysis were short biased. We seemed to have blown past our short targets, which made us reassess the overall higher timeframe analysis. From a macro point of view, we can see that Bitcoin is still following the Elliot Wave Impulsive schematic. On the weekly timeframe, we can see that we're still in Wave 3. Wave 3 has 5 subwaves and...
In our last analysis, we were watching for the 5th and final wave down. We now have that move. Trade idea is pretty simple. On lower timeframe watch for bullish price action. This could be trendline breaks, BOS or any other methods to find reversals. Trade Idea: - When bullish reversal pattern appears on lower timeframe, enter with stops below the lows -...
After the massive impulse in the first half of 2021, we have been correcting ever since. We are approaching the bottom and price is making a really nice descending correction. We are watching for the first impulse to break the red trendline to confirm that the bullish reversal has begun. We can see that we've also got divergence at play indicating a reversal is...
Matic is approaching the third touch on the descending trendline support. We also have divergence in play there, indicating there's a bounce coming. To be on the safe side, we can wait for for a bounce and lower timeframe correction before entering. Trade Idea: - Watch for bounce off the trendline - Enter with stops below the lows - Targets: 2, 2.9, actively...
ICP has almost finished its bearish ABC corrective wave. Wave C consists of 5 waves and we are in the 5th wave now, which appears to be a descending wedge. A descending wedge is often a bullish reversal pattern. The confirmation required is a strong bullish impulse breaking the wedge. For entry we'd require a correction to follow where we can mark up clear...