Elliottwaveanalyis
BTC Elliott Wave countBITCOIN COUNT UPDATE
Bitcoin is moving fast up and down, we have a high volatility moment because is a big fight between bulls and bears but let's see how I am digesting this using Elliott wave count.
I am still counting this correction that starts from 12 may as 4th wave from a bigger impulse to the downside as BTC will stay below 0.5 fib retracement of the 3rd wave (price 34161 usd) we have a valid 4th wave in play.
This 4th wave is a wxy pattern formed also by 3 wxy patterns.
The rally from the moment that I am publishing this analyze I think is only the first a that is forming y wave from the 3rd wxy pattern and I think it will end somewhere at 0.618(price 31906 usd) or 0.786 (price 32652 usd) fib extension .
On the long term I am still bearish on BTC even it will climb a little bit.
I will update Bitcoin count at least twice per week so subscribe to watch my future counts.
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EURGBP - Elliott Wave forecast45 angle describes the corrective nature of the pattern.EURGBP has started forming impulsive wave C's sub-wave 3.
It has broken down the correction channel of wave B.
If EURGBP breaks down low of wave X at 0.84819 , then the price will complete its impulse wave C. It is also a support level of 200 EMA. Or it will start marching upward.
Targets: 0.84500 - 0.84421 - 0.84340 and more.
Thank you!
@Money_Dictators
APEUSDT WAVE A TARGETI think the APEUSDT may do a thing like this, After finishing the main ZIGZAG (A/1), Now it is in making (B/2) and currently building wave "a" in (B/2).
The first Target is around 12.86$, Second Target is 10.7$ (I bias myself it will go to 10.7$, but anything can happen)
BINANCE:APEUSDT
Let's comment on this analysis, I'm new to Elliott wave/Neo wave, and Have fun with trading :D :D :D
BTC Near TermBTC is currently in the red subminutte wave iv and is expected to retrace anywhere from 38.2 to 61.8 or from 32,210 to 36,441 just below the blue minutte wave (i). There is a clear micro a at 31335, and micro b at 28621 in-between subminutte iii and iv. Subminutte c targets can be found at the 61.8 or 32458, 100 at 34831 or 123.6 at 36296.
XME - ETF - LongThe Fund seeks to replicate the performance of an index derived from the metals and mining segment of a U.S. total market composite index.
We expect a short term correction that can take prices higher to 57.00. We believe that there is an opportunity to go long at market and add position at 45.00
MSFT: Bears Have Taken Control Over BullsMSFT has accomplished the corrective wave (b) and started falling for wave (c) of wave (4).
Traders can expect the following targets: 289 - 272 - 265 for wave (c).
Here, 273 is the Fibonacci level of 50% of the wave. This level will act as a crucial level.
An uptrend is only possible after the breakout of the parallel channel . As per the wave principle, a new trend can unfold above/below wave B of the previous correction.
$AAPL ObservationJust an observation...
This is an overlay of Apples stock price during the 1998-2000 bull run and subsequent crash resulting in a ~80% loss in value.
I find it striking how similar they are, and how the end result will adhere remarkably well to, Elliott Wave, Wyckoff and Gann theories.
Given the financial status of America, and the current lack luster of Apple's products, it wouldn't surprise me if Apple do see a significant reduction in market cap.
Bitcoin - What if I told you something like this is possible?There is an expanding symmetrical triangle (megaphone pattern) in Elliott Wave Theory. I'm not saying this is definitely happening, but if we see an impulsive reversal after dropping a bit lower, below wave ((a)) support, then it becomes a possibility.
This is the same fourth wave pattern we saw in the Dow where the March 2020 drop was wave E of the triangle. It's always good to know and understand the possibilities.
As I have mentioned numerous times before, it's also possible that wave 5 ended at the ATH. It's also possible that the ATH is only wave 3 and the current three wave pullback is wave 4. This is just one possible pattern that could play out. There are often multiple possibilities when price prints a range.
BTC/USD Triangle in play? variation #2As I've mentioned on my stream, a breakdown below the current wave C low at 32933.33 just invalidates that particular triangle. There is the possibility that another triangle could be printing in that scenario as shown in this chart. Wave C could still be in progress. However, it would need to reverse prior to the wave A support at 28800. Breaking down below that level will invalidate all the triangle scenarios.
This only becomes possible if price breaks down below 32933.33.
POTENTIAL REVERSAL TO THE UPSIDEAs the week kicked in on Monday and Tuesday with a continuation to the downside from 93.312 to 90.435 levels of which the whole move was again corrected by the market from Wednesday to Thursday from 90.435 to 92.943 with the peak being at 3.515 before the market closed Bearish again on Friday at 91.548.
My view on the pair long-term is that we still have a large potential for the pair to continue it's move to the downside, but short-term I'll be anticipating to see a one more move to the upside finishing the sub-wave C of wave B.
It is after this that I will observe to see if the market will give any reversal signal to go/continue with shorts again.
BTC potential bottom?Is the BTC manipulating at support killing retail traders be over?
Could BTC make a upward move after the diagonal pattern spotted with RSI at oversold territory?
With a potential C wave up?
Do be aware that monthly candle seems like closing bearish.
Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.