LISK #LSKUSD - possible rally ahead?The price of LSKUSD is about to complete the three waves corrective cycle around the level of $18 and then an impulsive rebound is expected. The impulsive scenario is valid as long as the supply zone between the levels of $12-$16 is not clearly violated.
The projected level for up waves are:
- wave 3 - the level of $34
- wave 5 - the level of $40.
Please notice, that the market is trying hard to break out below the projected Fibo cluster at the level of $18.31, but so far no avail. This is very important clue regarding the further wave progression.
On the higher time frames, the uptrend prevails, but it is not developing in an impulsive fashion.
Elliottwavecorrection
Bitcoin #BTCUSD - about to explode higher?The price of BTCUSD has just made five impulsive waves up to the level of $10,900 and now is developing an internal, short-term correction. This corrective cycle should not move below $10,000 zone and after the correction is completed, the market might easily explode upwards towards the level of $12,030, and then towards the level of $13,400.
Please notice, the correction might not be as simple as ABC in the mentioned wave 2, but might evolve into more complex and time-consuming correction. Nevertheless, the overall structure should not go below the support at the level of $9,875.
Bitcoin #BTCUSD - two possible scenariosDue to the fact that the current downward correction on BTCUSD is quite extensive in time and in the price, I decided to present two potential wave scenarios:
Scenario 1 (main):
The growth impulse from the level of $ 5,930 ended with three waves and the current correction is a wave 4 of the entire growth impulse. The maximum range of this adjustment is 50% Fibo at $ 8,850, below this level the adjustment will be invalidated as too deep.
Wave B (pink) correction may have already ended or it will end around $ 10,953 and only then there will be a drop in the C wave (pink). Wave 5 (pink) is still expected.
Scenario 2 (alternative):
The growth impulse from the level of $ 5,930 ended completely and wave 1 of this impulse was the Leading Diagonal. The current correction is wave 2, which can reach even $ 8,158 with its range.
After the completion of the wave 2 correction, a dynamic increase in the price in wave 3 is expected, which will easily break the level of $ 12,030.
LISK #LSKUSD after rebranding, now what?The highly anticipated LISK rebranding event has passed away and the question remains: to hodl, to sell, or do nothing?
According to the Elliott Wave Principle, the current situation is still in favor of another wave higher, but first, the correction must complete. The first level for the corrective leg dow might have been reached at the level of $23,55 which is a 1:1 correction of waves (a) and (c). Nevertheless, the drop might extend towards the level of $23.03 and then $21.07. In the extreme situation, the last target projection is a zone between the levels of $18.31 - $17.08. This is where the first upwards wave might start to unfold.
Please notice the corrective cycle might get more complex and time-consuming than a simple (a)(b)(c) correction.
Bitcoin #BTCUSD - impulsive gains towards $12k ahead?The attempt to insert an impulsive scenario ended with a hyper bullish growth count.
Sequence of 1-2, (1) - (2), (i) - (ii) is a typical, impulsive, strongly upward wave progression, which assumes very rapid increases in wave 3. If this count is correct, then the price should grow very fast in the direction of $ 12,000, and even higher, without making deep corrections.
On the other hand, the alternative count assumes a complex wave correction labeled as wave (B) in the form of the Triple Three WXYXXZ, the top of which should fall in the area of just $ 10,800 - $ 11,200. From there, the price should start to fall sharply, breaking levels of $ 10.297, $ 10,000 and $ 9.707, respectively.
ETH Current Wave 4 Correction and Possible ScenariosETH is currently undergoing wave 4 (correction) that was expected in my previous post. Following this correction, there is a possibility for a 3rd actionary wave (impulse sub-wave 5), which might encounter heavy resistance from the long-term downtrend.
The correction is likely complete above the 910 support level (marked by the olive line, 0.5 fib), which is also the beginning of wave 1 territory. There is also a hard resistance line in yellow (0.786 fib), in which going below might yield greater odds of beginning a combo correction (WXY) or maybe cause a continuation of the larger degree downtrend. For now, it is unclear when this correction will be completed and whether or not it will be able to remain above these crucial levels.
Possibilities for the types of corrections include but not limited to the following:
Truncated ABC correction
Double bottom ABC correction
Zigzag ABC correction
Any horizontal correction pattern or combo corrections
BQX showing signs of reversal We are awaiting a break with volume of the noted trendline. RSI is diverging but until RSI starts an uptrend and price confirms the change, the bears are still in control. Price has retraced to the 78% level. An aggressive trader could enter here and set stop loss at the bottom of the small impulse wave. A conservative trader would wait for confirmation of a break of the trend line, RSI confirmation, and rising volume over several bars.
CND continues to correct In Elliot wave, corrections are often in a channel with multiple overlapping waves. The rule states that these waves will eventually be completely retraced and that price will eventually go above the previous impulse wave. Assuming this is a second wave correction, second waves often retrace atleast 61.8% of the previous impulse wave( wave 1). This is the case with CND right now. Price is in a channel correction.
How do we trade these corrections?
It has pierced the 50% retracement level so we are looking at price to at least go to the 61.8% retracement. Aggressive entry would be to ladder (buy) into a position at the 50% 61.8 and 78.6% levels.
A conservative approach would be to wait for confirmation of a reversal. The first sign is a small impulse wave in the opposite direction of the correction. Another sign is a strong break of channel with good volume. Another possible sign is a head and shoulders formation.
Each of these signs could be used as a reason to closely watch a pair, or could be used to enter into a trade.
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1. A perfect Elliot Wave 12345
2. A nice Elliot Wave Correction abc
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4. We just had a bullish MACD-cross
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BTC loosing momentum; potential bounce off 7750 | ABC CorrectionThe b wave (apart of the ABC correction in the white lines) appears to be topping near 9000 before either breaking through resistance or moving on to the c wave of the correction.
Following the c wave, we might see a bounce at around 7750, a support level formed earlier by the low from the impulse sub-wave iv. Failing to bounce before this level will expose lower levels and form a bearish trend.
Piggy-backing off philakonecrypto's idea here: steemit.com
Litecoin #LTCUSD - paradigm shift, more drops aheadThe change in the paradigm in the Litecoin cryptocurrency is dictated by the invalidation of the long-term impulsive scenario, according to which I made analysis at smaller time intervals.
Due to the overlap of many fundamental factors and the breaking of rules and guidelines subject to the Elliott wave theory (only three growth waves instead of five and a long-term downward correction cycle).
So what is left? Well, the best scenario currently is the ABC type meter, which indicates the end of a complex wave cycle in the wave A (from the peak at $ 421) at a level of approximately $ 34.71. The last inheritance wave-wave C was used to complete this cycle.
BTCUSD Possible H&S or Bull's flag formationThe price moved accurately like we predicted in the previous analysis. However, there is an opportunity to form H&S pattern as there wasn't sufficient volume to overcome the resistance of $9000. BTC is at a critical moment: right now the price can move in two scenarios with equal probabilities. It is below Ichimoku cloud and the red line is above the green line which means strong resistance, moreover Stoch RSI is about to reach overbought zone. It broke down the ascending channel. However it is currently on the way back to it. If it manages to return then three rising valley of Bull's flag will indicate the possibility of breaking through the resistance which will grant an opportunity to move higher and consolidate there. Also ABC correction wave which was observed after 5 Elliott Impulse waves has finished, this increase the possibility of the further growth.
In case of pessimistic scenario the price will grow to the $8500-$8600 zone and then will fall back to the $8000 which will complete H&S formation. Then the price will decrease till the next support zone around $7200.
In case of optimistic scenario the price will move out of Ichi cloud making it the strong support level and will go above $9000 which will complete Bull's flag pattern and will open the way to a higher level of trades.
We recommend to carefully track BTC price movements and put a stop loss in case of pessimistic scenario on all your trades. In case of optimistic scenario we will provide you with new good signals and trade opportunities. Currently all trades are very risky, the market hasn't recovered yet, be patient.
VIX Spike - Here we go! Stocks, Indexes, ES, NQ, YM Elliot RightPeople lot smarter than me saying this - this is what I see. Merrill lynch two Fridays ago said correction is on.
MONABTCOn the 1-hour chart we can see that 5 Elliott impulse waves were followed by ABC correction waves pattern. After this Cup & Handle pattern is forming. Right now the price is above Ichimoku cloud moreover the green line is above the red line right in the place of handle formation. Moving averages and Stoch RSI indicates oversold zone. Combining with a strong support we will have completion of the formation and the growth to the targets according to the Fib retracement levels. Buy only when it goes above Fib 0.382
Eur/Aud market makers....Go head, work it girl!!!!!! I'm still holding my buy and I'm cool with whatever, but do you see how and why these patterns form?? And keep in mind that running triangle can become a bigger one with one more little move down to break trend line. But I bet there's a lot of sells with there stop above the high it made..........
StellarLumens #XLMBTC - back to the correction?The correction is now evolving into more complex and time-consuming one, so it might take some time now to complete it. Nevertheless, the upward trend remains intact as long as the level of 0.2282 is violated.
BITCOIN #BTCUSD - end of the correction? New highs ahead?The current correction is the biggest in the entire Bitcoin history (arithmetic graph) and has already reached 71%.
On the other hand, the rate managed to rebound from the blue trend line just above the target level at $ 5,540. The $ 300 was missing so that the price hit the Fibo cluster.
From the Elliott wave theory perspective, the price tests the bottom trend line (gold) and tries to break above it. The $ 5,962 level is now the most important technical support, with the support of $ 7,213 remaining. The next resistance tested is $ 8,160. Beating over this resistance can cause a gunfire towards very important levels at $ 9,222 - $ 9,515. Only breaking above these levels opens the way for further growth.
VIBE #VIBEBTC - wedge breakout might give 150% gain!ELLIOTT WAVE ANALYSIS:
The bounce from 0.00007490 has the characteristics of an impulsive wave with a high 0.00012865. After this rally, the price falls in the ABC three-phase straight correction to the level of 61% Fibo at the level of 0.00008180. In addition, the price at the end of the downward wave draws a clear wedge, which is expected give an impulsive breakout.
Target levels for the impulsive breakout are 0.00012237 and in the case of extension level 0.00020225. Assuming such a scenario, with SL under 0.00000749, the risk-to-risk ratio is 5: 1, which is why it is a pretty decent trading setup.
Breaking the 0.000007490 level invalidates the impulsive upward scenario.
TREND and IMPORTANT LEVELS:
Main trend: DOWN
Intermediate trend: DOWN
Daily trend: DOWN (possibility of a breakout from the wedge after correction and reversing the trend)
KEY LEVELS:
- for further increases - level 0.00012865
- for continuing correction - level 0.00009098
- for continuation of decreases - 0.00008180
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PPS: The next analysis of the next cryptocurrency will be published, if this post receives a min. 100 likes. :)
GOLEM #GNTBTC - rising wedge pattern will bring 100% profit?ELLIOTT WAVE TECHNICAL ANALYSIS:
At a weekly interval, including larger cycles, it is difficult to distinguish pulse waves. Therefore, the current counter is based on wave increases (A), with a high at 29629 and a complex wave correction in the wave (B), with a low at 1604.
Starting from this low, five impulse growth waves with a high at the level of 9,000 can be determined, followed by a complex downward correction WXYXZ, which lifted 61% of the growth impulse. The level of 61% Fibo at 4574 is an important level of support, because the corrective cycle in the wave (2)might soon end near this region. Not only that, the whole downward descent has a clear wedge character, and the breaking out from this wedge can bring, among others, 100% profit (if the local peak is hit at 9,000).
It is worth to observe this cryptocurrency and wait for the potential knock out of the wedge.
TREND and IMPORTANT LEVELS:
Main trend: DOWN
Intermediate trend: DOWN
Daily trend: UP / NEUTRAL (correction after the end of the growth cycle and possible breakout from the wedge after correction)
KEY LEVELS:
- for further increases - level 5247
- for the continuation of the correction - level 4374
- for the continuation of the decrease - level 4374
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Bitcoin #BTCUSD - correction finally done?FUNDAMENTAL BRIEF:
The Government of India, although often not very positive about Bitcoin and other cryptocurrencies, such activities have not helped to curb their popularity. In his annual speech, Finance Minister Arun Jaitley again explained that the government intends to stop the use of digital currencies in India, claiming that the South Asian country does not recognize Bitcoin and other coins as legal tender: "The government does not recognize Bitcoin or other cryptocurrencies as a legal tender and will take all measures to limit their use in financing illegal activities or any part of payment systems."
However, Jaitley did not say anything about the ban on trade. In fact, he claims that the government will instead encourage the use of Blockchain technology in traditional payment systems, showing that the Indian government does indeed see the value of cryptocurrencies, but only as legal tender. Most likely, Indian exchanges will be legal and citizens will have no problem buying and selling cryptocurrencies, nevertheless, their decision might be behind the reason of the recent drop in BTCUSD
ELLIOTT WAVE ANALYSIS:
The market violated the 161% Fibo extension of the wave A at the level of $8,600 and currently is testing the lower trendline dynamic support around the level of $8,000. If this level will not make Bitcoin to bounce towards the level of $9,100 then the next projected target is seen at the level of $6,742. The overall complex corrective cycle looks completed anyway or is very close to termination.
When is the huge drastic blasting effect? #BTC/USDTAs you can see in the chart, i think that the third correction wave has not completed yet. So the blasting effect of bitcoin (as well as the market cap) can be delayed to the summer.
Nevertheless, when we tested the bottom, we will make a little trip with a nice and cute plane between red (support) and yellow (resistance) lines.
After that we will reach the bright sun of the summer.
Charts Never Lie.I have been following BTC for roughly a year and have witnessed and personally held multiple positions during it's boom and even briefly held around the ATH at 18.3k before selling. When it comes to Tech Analysis I'm new and not seasoned like many of the other pros you will find around here, but despite this, I want to share my idea, hear out any criticism and learn from it. I believe what we are seeing is a possible elliot wave formation / correction to 7k, after which BTC will stabilize and stop falling.
As you can see from chart, my trends are taken from previous trends that could have happened during the BTC breakout over the last 6 months. I also take into account the H&S pattern and along with the EMA overhead resistance to account for the likely down trend.
1) The other bounces back up are based on a straight projection line from the beginning of the H&S formation and move through the beginning of all the recent trends upwards before failing to pass the heavy resistance overhead.
2) The 7K range because all trend lines line up nicely pointing to this area as the likely scenario if BTC had continued along any of the other growth trends.
3) According to the FIB Levels, Support zone at around 5.8K, and if the true BTC trend is any of the other trends within the last 6 months, then 7k should be it.
I just want to condone that this is not financial advise in anyway and purely for my entertainment. I also invite everyone to please comment and discuss any flaws you may have found or anything that reinforces what I had posted.
Thank you everyone,
I apologize in advance if I had made an mistakes in presenting or drawing my analysis.
