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Elliottwaveprojection

GBPUSD Selling opportunityHello traders, Today we want to share our view of the GBPUSD. The long-term cycle is bearish and we believe there will be at least one more swing low or, in other words, another bearish cycle. This idea has the target of taking profit from this bearish cycle, There are two potential paths as we showed in the graph 1- Our forecast is that GBPUSD will have to make another high before reaching the green area (which is the expected target the corrective structure WXY should reach before turning down) and then, we will sell GBPUSD 2- Alternative path- The price will not reach the area and GBPUSD has already ended 4 and it will start this last bearish cycle before reaching the green area In both cases, in the medium term, we expect GBPUSD to go down. Therefore, we can prepare in shorting the GBPUSD soon. TRS team
Short
by TradingtheRightSide
CRYPTOS: Time to go towards 0 OR $1m?While Crypto’s reputation has been undermined in the past, the speeches for their lifetime, their real value, and eventually their price, give investors enough ‘food’ for estimating where they could go under the recent circumstances after the collapse of FTX. There are many opinions heard from distinguished economists to big investors who say that Cryptos can go to zero or even $1m (particularly for Bitcoin). The founder and CEO of the investment company ARK Invest, Cathie Wood, impressed with her prediction for Bitcoin. As she said, the leading cryptocurrency will reach seven-figure levels by 2030. In particular, in response to a question during an interview with Bloomberg about whether she stands by her prediction that Bitcoin will reach $1 million in eight years, said she is. Of course, despite stating that Bitcoin will come out of the recession “smelling like a rose,” Wood said investors will feel more comfortable putting money into Bitcoin as well as Ethereum (ETH) once they better understand what’s going on. Technology has bypassed this entire crisis. Bitcoin’s hash rate is at an all-time high, and this is a true indication of the network’s security. In Ethereum, the total value staking is $24 billion. This is an all-time high. So, the infrastructure is working nicely, noted. Billionaire Tim Draper spectacularly revises his prediction for Bitcoin (BTC) to reach levels above $250,000 – a meteoric rise of more than 1,400% from the cryptocurrency king’s current levels, which will make it new gold. As for whether, amid this difficult period for the market, Bitcoin could reach these levels, Draper reveals what he believes would be the catalyst that would fuel a rally to $250,000. And the reason is that at some point you’re going to be buying food, clothes, and shelter in Bitcoin. Therefore, the real power is women. Women control 80% of retail, food, clothing, and shelter spending. In the past, one in 14 women had a Bitcoin wallet in the US, while now the ratio is one in six. And when women realize they can get a discount by paying in Bitcoin, when retailers realize they can double their profits by accepting Bitcoin, the currency will move pretty quickly to new highs. Even if the value of Bitcoin doesn’t go to zero, there is a serious possibility that the cryptocurrency industry will start heading towards oblivion, says Paul Krugman in an article in the New York Times. Cryptos reached the height of its popularity last year when Matt Damon’s ‘Fortune favors the brave’ commercial – sponsored by Singapore-based exchange Crypto.com – first aired. At the time, Bitcoin was the most famous cryptocurrency worth over $60,000. Bitcoin is now trading below $17,000. So, people who bought after seeing Damon’s ad lost more than 70% of their investment. In fact, since those who bought Bitcoin did so when its price was high, most investors in the currency — about three-quarters of them, according to a new analysis by the Bank for International Settlements — have lost money so far. On the other hand, the Economist’s analysis concludes that although fewer people will use crypto as a result of FTX’s collapse, it’s very hard to imagine that number will be small enough to nullify its value. Also, If only everyone would stop using it the cryptocurrency market will be zeroed out. But what would have to happen for everyone to give up? Pulling the rug out from all this edifice is extremely difficult, and the current high value of bitcoin and Ether makes it even more difficult. To attack a blockchain and shut it down, it is required to gain control of 51% of the computing power or the value of tokens staked to verify transactions. The more valuable the tokens, the more energy it takes to attack a proof-of-work chain like Bitcoin, and the more money it takes to attack a proof-of-stake chain like Ethereum. The security of these chains (blockchains) – as measured by the amount someone would have to spend to attack them – currently ranges between 5 and 10 billion dollars. It would take either a government or an extremely wealthy individual to carry out such an attack. And even if Elon Musk was in such a mood, he seems to be a bit busy at the moment. If one takes a closer look at the system, one will notice that most of them, except for Terra-Luna, are in the “on top of” category and not on-chain technology. DeFi exchanges and lending protocols continued to flounder even as businesses that looked more like normal businesses collapsed one after another. But the collapse of these businesses could compromise the underlying technology, removing chunks of its value, making blockchains more exposed to would-be attackers, and prompting miners or stakers to disable their machines. The value of on-chain activity and tokens is self-reinforcing. The more people use Defi, the more valuable Ethereum becomes. The higher the price of Ether, the higher the barrier to attacking the blockchain and the more confidence people will have that these chains will endure. This works the other way around too. The more people avoid encryption out of fear, the less secure it becomes. The total market capitalization of cryptocurrencies today stands at $820 billion. That’s 70% below the peak a year ago, but still high compared to most of crypto history. It’s higher than early last year, for example, and any point before that, including the peak of the 2017 bull market. From Elliott wave perspective, we are observing two different interpretations for the Crypto total market cap chart, however, both counts suggest that support can be near, at least temporary one. On the first count, we are tracking an A-B-C correction, where final wave C can be now in play, sitting at important 2017 highs and equal wave length A=C. In the secondary count, there’s a chance for a five-wave drop into first leg A of a bigger and deeper A-B-C correction, but even this count indicates for a corrective rally in wave B, as we see it trading in final stages of wave (5) of A. Ideally, we will see a reversal in 2023, but support for a fifth wave based on Fibs can be at around 400B. That's still far away, so be carefully with these assets. It’s still a bear market after-all.
CRYPTOCAP:TOTAL
by ew-forecast
3
ADAUSD | Wave Analysis | Giant Bull Flag Ending Diagonal +60%Price action and chart pattern trading > A possible ending diagonal minor 5-wave with a bull flag pattern as well as RSI bullish divergence > An upcoming reversal supported by a strong harmonic pattern - bullish deep crab squeezed below EMA20D - Entry point zone > Target TP1 @ Upper bull flag resistance zone +30% and TP2 @ X2 of Bull Flag EMA200D zone +60% > Stop Zone @ lower support of bull flag -10-15% > Risk reward ratio: 2:1 and 3:1 for short-medium term trade Always trade with affordable risk and respect your stoploss, nothing 100%
COINBASE:ADAUSDLong
by dukeposh
4
SPX- surprise Rally aheadThe 5 th wave fall on 3rd Nov'22 had not moved down the index significantly. hence we must recall the wave count that ,the correction (5 wave downfall ) is completed in the form of a neutral triangle abcde. Provided the low of 3rd Nov'22 (3698) respected(should not break). If this is so, until 11th Nov, all 5 waves of Expanding triangle A,B,C,D,E has been completed, and a new recovery wave ABC (3 waves)will start. This may begin with a santa claus rally from 14th Nov'22
SP:SPXLong
by selvamB
3
AAPL | 4-Wave Triangle Analysis | 5-wave Projection +50%Price action and chart pattern trading signal > A bullish scenario 4-wave triangle with a local bullish pennant breakout in triangle formation - D-wave uptrend > price bullish momentum SMA20 X SMA50 and MACD X baseline > Target 5 wave @ bullish pennant pattern = 1.618 extension of current 4-wave +50++% from expected E-wave support line. > Stoploss @ C or A wave position -10% > Risk reward ratio: 5:1 Always trade with affordable risk and respect your stoploss, nothing 100%.
NASDAQ:AAPLLong
by dukeposh
GBTC versus BTCUSD (Bitcoin)(1) 🔬 Dividing the GBTC price by the BTCUSD price, we have this chart in a downtrend. This indicates that GBTC has underperformed Bitcoin. 🟢 The price spent most of the time in the green rectangle, threatening to break out several times. In March 2021, GBTC broke out of this rectangle. 🟣 Projecting this rectangle downwards, in a new purple rectangle, we have a possible target, which culminates exactly in Fibonacci prediction 2. Price is currently in the middle of the rectangle, testing the 1.516 forecast. 🐂 For a bullish reversal to materialize, price needs to break out of the exponential 55-period Bollinger Bands' bear channel: (2) 🆚 Bitcoin's MarketCap vs GBTC's MarketCap 📈 MarketCap of Bitcoin: 📈 MarketCap of GBTC: 🧮 If we divide the GBTC marketcap by the Bitcoin marketcap, we have a percentage of 1.95%. 🤔 Question: In the worst case scenario, if GBTC and Genesis go bankrupt, and if Grayscale sells all the Bitcoins it claims to have, what would be the impact on the price of Bitcoin? (3) 📈 GBTC price On the diagonal Fibonacci channel, the price touched the -0.5 retracement. ❓ Question 1: On the vertical Fibonacci retracement, will price test the 0.618 retracement at $7.06, stretching wave 5? ❓ Question 2: Or will the price go even deeper, hitting the 0.5 retracement at $3.68? 🐻‍❄️ If this happens, the DMI SMI oscillator could indicate a key moment rarely reached (see green circles).
G
by andre_007
KBANK | Wave Analysis | Bearish Projection Diagonal 4-wavePrice action and chart pattern trading > A 2 conflicting pattern with a bearish move from the larger Head & Shoulders pattern and a bullish one with current bull pennant. > The larger HS pattern could be overshadowing the smaller pennant pushing the price lower - SMA20 dead crossed SMA50. > A strong symmetrical resistance; upper volume profile, price resistance, and SMA200. > This 4-wave diagonal projection is based on the unsuccessful breakout scenario with an upcoming C leg downtrend extension 0.786 - 1.0 approximately - 10 - 15% downside. > A bullish scenario is based on the successful breakout of bull pennant and SMA200 targeting the previous 3-wave high with a +20% upside. > Indicator: bearish MACD signal crossing below the signal and baseline Always trade with affordable risk and respect your stoploss!
SET:KBANK
by dukeposh
PTT | Wave Projection | Bullish Flag - Bullish Divergence Price action and chart pattern trading: > A possible upcoming short term rebound B-wave of mega bullish flag 2-wave ABCDE triangle correction > The price made LL last week from 34 baht support, assuming minor 5-wave of A leg to 32.75 baht then a strong buy back signal with bullish engulfing candlestick. > Entry signal @ breakout recent resistance 33.75 baht > Stop @ the current low 32.75 baht -3% > Target 0.618 - 0.786 retracement 36-37 baht +8-10% > RRR: 2.5:1
SET:PTTLong
by dukeposh
1
BTCUSDT | Wave Analysis | Mega Bull Flag Formation +80%Price action and chart pattern trading > A possible downtrend continuation for C-leg with the current bearish PENNANT pattern > The downtrend TP @ 1.618 extension zone at 13K USD price - same target with the previous bearish INVERTED CUP pattern > An upcoming mega bull flag formation with target reversal +80% upside @ 28K USD price. > Close short position once a divergence signal presented. Always trade with affordable risk and respect your stoploss!
by dukeposh
5
Apple W X Y Correction Apple seems to be in a complex W X Y correction at the moment based on the Elliott waves. We saw the current top of Apple stock on Dec 13, 2021 at $181. Since then, we have been in a correction that has reached almost -30% at its lowest point. But is that it for Apple or does it go even further south? The top so far was the end of wave (3) in the Intermidiate Cycle. We are probably not at the end of a wave 1, as the correction has been rather sideways, so the market emotion seems to be mostly still positive at Apple. Theoretically, wave (4) could have already found its low at $129 and we have been in an upward movement again since then. However, since Apple shows some weaknesses again at the end of this movement and the bears still have a strong presence in the market, the approach of another low is quite likely. If we are really in a W X Y correction, it is quite possible and likely that the extension of 1.618 or 1.786 is approached. For Apple, this would be a trend reversal area between $126.57 and $121.07. However, if the low above the 129$ holds, we are now already in the 3 of the wave (v) of the III and prices of over 211$ are possible in the medium term. How can I tell which path will occur? If Apple sustainably exceeds $157.76, a bullish move is quite likely. We will have a final confirmation at the resistance of 176.20$. In the long term, values of 275$ are quite possible before the next major correction. So a price range of almost 60% starting from the current price. Long term view:
NASDAQ:AAPL
by DavidJankowski
DOGEUSDT | ABC Correction Uptrend B-Wave Projection +40%Price action and chart pattern trading setup: > This TF4H wave projection is indicating that after 5 wave correction forming A-wave now possible making a B-wave rising triangle pattern for uptrend correction. > Target @ R1 is the rising triangle target +20% upside and R2 is the bullish flag target +40%, both are the potential B-wave correction target at 0.5 and 0.618 fibonanci retracement. > Entry @ rising triangle breakout confirmation or between S1-S2 pullback zone > Stoploss @ slightly below S2 position -15% > Risk reward ratio: 1.5:1 for R1 and 2:1 for R2 Always trade with affordable risk and respect your stoploss, nothing 100%
Long
by dukeposh
XRPUSDT | Downtrend Channel Wave Projection TP -30% and -50%> ABC correction with the major C leg downtrend ending diagonal pattern - possible final 5-wave at 0.5 fibonanci extension level -30% and 0.618 level -50% if break below the current key support. > The price is currently trading below SMA50 and SMA200 and RSI TFW bearish signal broke below MA line below 50. > An upcoming RSI bullish divergence in TFW could be possible - stay in wait and see mode for price confirmation. Always trade with affordable risk and respect your stoploss, nothing 100%
by dukeposh