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Elliottwaveprojection

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).
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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
TU | Wave Projection | Bullish Dragon Pattern +25%Price action and chart pattern trading setup: > A bullish dragon pattern with an uptrend ABC wave currently making a pullback to the rising channel support at the volume profile point of control > The price is below key dynamic support SMA200 and SMA50 which is considered a downtrend movement or could just be a false break dump and pump > Entry @ SMA50 and SMA200 breakout zone once the price recovered > Stoploss @ B wave position -7% downside > Target @ 1- 1.618 extension dragon head & shoulder zone Always trade with affordable risk and respect your stoploss
SET:TULong
by dukeposh
#BTC #BITCOIN #ELLIOTTWAVE $BTC FUD. Potential Wave 3.I see Fear Uncertainty And Doubt being spread everywhere either by rate hikes or exchange manipulations and hacks!.. Just like I saw etf at 69k and hope for 100k.. I wasn't a permabull or permabear.. I just trade charts and I regret to this day why I didn't trust my work and... Anyways.. I choose to be rebellious this time. That's why.. This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck. I don't trade news. I trust charts.. We have huge weekly divergence retest of weekly horizontal and trend support with low extremely low volume retest and have a potential diagonal as wave 1 of smaller count.. Whatever after that may be the correction and the sharp recent fall we saw today may be wave c which is steep indeed! Thank you for time.
BITSTAMP:BTCUSDLong
by alibadshah88
2