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Elliottwaveretracement

Bitcoin (BTCUSD) bears ruleBitcoin, the world's number 1 cryptocurrency closed at ~$19,210 on Dec. 16, 2018 and has been in a downtrend ever since. Price close on Dec. 16,2018 has been identified as the termination point of Primary wave ((3)) and the current downtrend or correction is Primary wave ((4)). Based on guidelines, it is quite possible for Primary wave ((4)) of Bitcoin to terminate in the region of the 4th wave of the previous degree i.e. Primary wave ((3)), which this analysis identifies as the region of $4,367 The correction from $19,210 has been identified as a possible wedge (leading diagonal). If this holds true, then the entire correction can be anticipated to be an Elliot wave zigzag (5-3-5) structure. Currently, price action appears to be completing in a Minute ((1)) of Minor wave 5. Completion of Minor wave 5 should see Bitcoin close below at least $6,946.60 (price close on Feb. 5, 2018). Any bullish momentum from a close of Minor wave 5 should see price possibly terminate in the region of Minor wave 4 which is approximately around $11,433.50.
BITFINEX:BTCUSD
by Coin_Analyst
#NEOBTC - close to the demand zone, upward rally possible?After the end of the C-wave rise cycle at the level of 0.015, the NEOBTC is in the upward trend corrective cycle, which has now taken the shape of a complex correction WXYXZ. The price is approaching the 50% Fibo level of the previous swing up, which is right in the middle of the demand zone between 0.0076 - 0.0090. If the correction cycle is over, then in this zone there should be at least a momentary reflection towards local resistance at 0.0094 and 0.01030. It is possible that the reflection may be stronger and reach even 0.01111 or a little higher, straight into the pink zone of supply.
Long
by sebastian.seliga.7
3
Bitcoin #BTCUSD - correction about to complete?Let's take a look at the Bitcoin technical picture at the H4 time frame. The market is about hit the projected target zone for the wave (c) of the wave (2) and now it should bounce form it in order to test the local technical resistance at the level of $9,434. The market conditions are now oversold, so it should help to bounce in the short-term. Nevertheless, if the zone between the levels of $8,184- $7,703 is broken, then the next technical support is seen at the level of $7,464. Green scenario - wave 3 to the upside progression. Red scenario - decline to the swing low development.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
10
Ethereum classic: Patience required: Short (4hr) tf analysisThe price swing for Ethereum classic (ETCUSD) from a price low of $14.00 (Feb. 6, 2018) to a high of $42.85 (Feb. 20, 2018) has been identified as a 3 wave zigzag Elliott wave structure. This corrective move is part of the sell off that began on Feb. 14, 2018 at ~$45.30. The implication of the above is that the entire structure when complete should be a regular flat and the minimum target for the end of the move is $14.00. ETCUSD is currently in the last leg of the regular flat (an intermediate wave Y),where it appears to be tracing a 5 wave move. Minor wave 3 is possibly not yet complete and still requires a wave ((iv)) and wave ((v)) after which Minor w 4 is expected to resume which could possibly also terminate in the region of the 4th wave of the previous degree i.e. w((iv)) of Minor wave 3. Minor wave 5 is then expected to complete downwards. The arrows on the chart are used to show the possible trajectory for ETCUSD. Using the price projection for a regular flat, other possible termination points for Minor wave 5 are $10 and $4 before a bullish move can be sustained. The other alternative scenario to the analysis above is that is quite possible that ETCUSD completed a 5 wave move from price low of $14.00 (Feb. 6, 2018) to a high of $42.85 (Feb. 20, 2018). This 5 wave move is most visible on the Daily tf of ETCUSD (not shown here). The implication of this is that ETCUSD will complete a zigzag move upwards and price should at least target the previous high of ~$42.85 of Feb. 20, 2018. Target area as shown on the chart is between $28.49 and $27.05. For this analysis to be valid, the POI (point of invalidation) = $32 P.S.The use of a "price swing" in the comments above is used by the author to indicate the overall movement in price in a particular direction."Price swing" as used above connects a price low to a price high or vice versa. It does not imply or is the same thing as an Elliot wave structure.
BITFINEX:ETCUSD
by Coin_Analyst
3
Bitcoin #BTCUSD - end of the correction?The market has dropped to the level of $9,434, so the green impulsive scenario was invalidated as wave 2 went into the territory of wave 1. The current scenario assumes a top of the wave 1/A at the level of $11,714 and a rather extended in time and price correction in the wave 2/B in form of an ABC Regular Flat pattern. The nearest technical resistance is seen at the level of $10,111 and it the count is correct, the market should now start to develop wave 3/C to the upside.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
4
Litecoin #LTCUSD - last leg of correction and up we go?The price of the LTCUSD cryptocurrency pair hit the gold trend line impulsively and made a new local peak at $ 251.90. From there, the first correctional wave A was made, followed by the formation of the triangle B. Therefore, it was left to wait for the next, probably the last inheritance wave C, which should also develop in an impulsive way. The target level for the C wave is 61% Fibo at $ 160.65. The next big wave rise wave is the C wave, for which the range is set at the level of $ 300 - $ 304. After reaching this level, a large B wave correction cycle will be terminated.
COINBASE:LTCUSDShort
by sebastian.seliga.7
2
GameCredits #GAMEBTC - heading down towards next FiboCryptocurrency GameCredits GAMEBTC is heading in the next level of Fibonacci, i.e. the level of 78% lifting the wave 1 impulse. This level is located at 18028, just above technical support. This decrease takes place on a significantly reduced volume than the last wave of growth, so there is still a chance for a dynamic wave (3), which with its range can easily break the peaks from 201932. Please remember that this is a very optimistic scenario, but it does not mean that it is impossible. Growth scenario is invalidated when the support level is knocked out at 10301.
Long
by sebastian.seliga.7
6
BCHUSD Bullish Scenario BCHUSD Bullish Scenario BCH Market: Bullish Max Price: ~$5000 Min Price: ~$4000 I would like to start off saying that this is my primary count for BCH, but that does not mean the only path. A good technical analyst is open to changing to alternate or new paths as more data comes into play. I would also like to say not to pay attention to the time frame. My goal is not to project a time frame but rather a potential pathway. I have chosen this as my primary pathway because BTC is currently reaching highs that it has not seen in a while. If this is to change, then my BCHUSD pathway will switch to an alternate. The slanted head and and shoulders forming is very bullish. It shows that sellers are running out of ammo, and that buyers can soon push the price up. Currently, the end of the right shoulder is in play, and forming an ascending right triangle (bullish). If the head and shoulders completes above the neckline, we can see a minimum of ~2300 before a correction. This is determined by drawing a line from the neckline to the head, then placing the line at the top of the right shoulder. Looking at our indicators we see that the MACD is forming a bull flag, and the RSI is increasing, giving a greater degree of confidence of the potential explosion upwards. The price of $4000-$5000 is projected through a Fibonacci retracement. In terms of elliot waves, we retrace the first initial wave that we believe is in. In this case, I believe our 3rd wave can be explosive upwards, towards the 3.618 level. From there I look at support levels near key retracement levels, and lay a line out and read a price. I then take the height of the first wave, and place it on top of the 3rd wave to reach a final price of ~$5000. This fits well into the possible cup handle formation that may be in play. The 4th correctional wave would help produce the end of the handle and get us to the $5000 range, forming a new all time high, which would correlate nicely if BTC forms new all time highs. It would also nicely "fill" the cup that could be playing out. A cup and handle pattern is a bullish pattern that is found commonly in cryptos. Perhaps it represents a sentiment pattern that we feel towards the cryptospace. It allows an analyst to have a greater degree of confidence when spotted, as it can be justified for a greater probability of price moving upwards. In terms of elliot waves, the 3rd wave can never be the shortest. Another possible scenario is the 3rd wave is larger then the first wave, but the 5th wave is the most extended, so it is something to think about in terms of trading frequently. If you are a HODLer of BCH, exciting times may be ahead. If BTCUSD pair forms new highs, expect to see it in BCH as well. Wishing you a kuhlateral disruption of fat profits. ~Happy Trading
COINBASE:BCHUSD
by kuhlateraldisruption
5
Ethereum #ETHUSD - still in wave B correction, patience neededThe price of ETHUSD is still trading inside of a corrective zone below the golden trend line. There is still wave B to the downside missing and wave C to the upside missing as well. The first projected target for wave B of a higher degree cycle is at the level of $1,000 - $1,100, but this wave progression might evolve into more complex and time-consuming cycle. Please notice, the overall ABC corrective cycle of the higher degree hasn't been finished yet as there is still wave C to the downside missing. The target for the wave C is still hard to project, but it should take out the low of the wave A at $564 with ease.
BITTREX:ETHUSD
by sebastian.seliga.7
5
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.
LLong
by sebastian.seliga.7
1
BTC Still correcting, short lived bull runBull flag only half complete? Moving towards point 3 of giant Wolfe wave? Also we have not retraced back yet to 50-62% for a corrective wave. I suspect a short lived bull run back towards the historic resitance trend line then back down to $8000-9000 I traded the corrective wave to have a (5-3-5) ABC (5-3-5) pattern and we seem to be in the ABC pattern now of the corrective wave / bull flag Estimates Target entry $8000-$8800 beginning of March Target profit $14500 March mid to late March First image shows in violet what i hope will be the path of a Wolfe wave leading us to a reversal into wave 2 of a larget Elliot wave Lets add a little head and shoulders maybe?
COINBASE:BTCUSDLong
by KondrackiKarl
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.
L
by sebastian.seliga.7
1
DAMMIT ETHEREUM - On Elliot Wave-failures!Dear Friends! A lot of you people out there have requested a chart on Ethereum and Elliot Waves. And therefore you shall of course have it! But first, for those of you, who don't know about Elliot Wave Theory, I will encourage you to take a look at this chart. A quick recap of the basic rules: • Wave 2 can’t retrace more than the beginning of wave 1 • Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5 • Wave 4 does not overlap with the price territory of wave 1 • Wave 5 needs to end with momentum divergence Before we begin, let me start saying, that there are ton of different opinions about this theory. A lot of people find it useful, and others don't. Some follow all the rules to the letter, others choose not to. We also have some rules about Fibonacci Ratio Relationship. E.g. Wave 2 has to retrace 50 % or more. And Wave 4 are NEVER allowed to retrace more than 50 %. Again: Many people including D4 self, has chosen to accept e.g. a 38,2 % retracement on the wave 2, but then we also want more than a 50 % retracement on Wave 4, but we are still NOT allowed to go into the price territory of wave 1. This is up to interpretation, and what you find useful. Before it becomes too complex, let us start to take a look, at the 4h ETHUSD Chart. And let us start looking at the 1st Elliot Wave Cycle 1-5 and ABC(Big Yellow Circle ). As you can see, we follow all the rules. Wave 2 is NOT retracing more than Wave 1. The 3rd wave is NOT the shortest. And Wave 4 is above wave 1. There after we have the ABC-correction. Let us then take a look, at the new Elliot Wave Cycle in red. The 2nd wave has NOT retraced more than the beginning of no. 1. Good. And the 3rd wave is longer than the 1st wave, so it will not be the shortest. GOOD. But then... We have a huge wave 4 Fibonacchi Retracement on 61,8 % AND the 4th wave is now UNDER the 1st. So it does not qualify.... We have a failure! D4rkEnergY is everywhere! <3 Ps. Please give D4 a LIKE, and follow him for more exiting crypto-TA. Thanks in advance, dear friends!
BITFINEX:ETHUSD
by D4rkEnergY
15