Elliott Wave
USDJPY Wave Analysis 23 December 2024
- USDJPY reversed from key support level 156.35
- Likely to rise to resistance level 158.00
USDJPY currency pair recently reversed up from the key support level 156.35 (former resistance from November, acting as she support after it was broken last week).
The upward reversal from the support level 156.35 continues the active minor impulse waves iii and 3 – both of which belong to the intermediate impulse wave (3) from the start of December.
USDJPY currency pair can be expected to rise to the next resistance level 158.00, the breakout of which can lead to further gains toward 160.00.
Comparing US10Y/DXY/US500/VIX, fundamental/technical analysisProposed technical/fundamental analysis for US10Y/DXY/US500/VIX.
Bank unrealized losses on available-for-sale and held to maturity securities was $364 billion in Q3 2024; this number will continue to increase as long-term treasure rates increase (www.fdic.gov).
US10Y yield chart looks for yield to go higher, north of 5%. If treasury rates continue to increase, there may be a bank run, as banks get more and more underwater with their unrealized losses. DXY will go up above 120, US500 will crater below October 2022 low of 3490.2, and VIX will pop towards 80.
ETHUSDT Perspective
It looks like ETHUSDT will start a rally from $3,000 to $12,000 by the end of 2025.
BTC : All Time High IN - OR Multimonth Playout?Bitcoin has begun a steep drop, and it's likely that the ATH is priced in. This fits my previous idea that the ATH would either be just over or just under 100k.
There is, ofcourse, another option as well - a continuation over the next few months. This is likely if the price of BTC follows a fractal of the previous cycle. It would become likely if we see a strong bounce around the 81-82K zone, pushing us up into the 90's.
But, at the moment, I'm leaning towards the idea that the ATH is in.
It would also makes sense for the ATH to be in, from an Elliot Wave Theory perspective, since we've made a perfect 5 waves. If this is indeed the case, we can look forward to a few more rallies in the altmarket.
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BINANCE:BTCUSDT
a clear title for my concise idea for bit Coinplease provide a meaningful and descriptive description of descriptors used to describe deez
usdt.d(based on NEowave)as I told you we are at the start of wave G so there is 2 ways that it need to confirm to starting drop.
one of them is diamond diametrical and the other is a triangle. so wait to confirm it.
support me and share these charts with your friends please,
thanks.
Long term fot ETH could look insaneLooking at the long-term for ETH and assuming that we're putting 5 waves of i, of the highest degree of trend, we could be on an orgasmic wave 5 that IF equal to 1, which is often the case, could reach highs which go past the moon, on to Jupiter and beyond. Keep an eye on it, and let's see if the minor degree of trend of subsequent waves gives us confirmation. Follow for more.
WIF SK Top Down AnalysisAnalysed on SK Australia's call 23/12/2024
- Brady said "no financial advise", but no not invest in WIF XD
LTC $600-$1600LTC followes Pitchfork very well. Fibs level indicates $600 and $1600 are imminent. For long-term, $6k is very easy.
GOLD → Correction before further declineFX:XAUUSD is testing the zones of interest within the counter-trend correction after it managed to break a rather strong level earlier. The fundamental background is not very good, there is bearish pressure on the market.
The negative impact on gold is built around the hawkish stance of the Fed (inflation, Trump's future policy and the economic data of the last two weeks). The cycle of interest rate cuts may slow to 2 rate cuts for 2025.
Friday's correction is mainly due to PCE data, but I don't think it will change the global picture.
Towards the end of the year, it is logical to reduce liquidity in the markets, which could increase mispriced volatility in the market. Be careful!
The gold market is still supported by the conflict in the Middle East and Eastern Europe.
Technically, price is forming a flag after a strong decline. At the moment the price is inside the pattern and for trading it is worth paying attention to the boundaries of the local channel.
Resistance levels: 2620, 2631, 2640
Support levels: 2606, 2560
Emphasis on 2620. If the bears break the level and keep the defense below the level, it can generally increase the pressure, which will provoke the price drop.
But I do not rule out an attempt to break the channel resistance and retest 2640-2650 before a further fall.
Regards R. Linda!
EURUSD → Consolidation in the selling zone. FX:EURUSD is coming out of a prolonged consolidation. As part of counter-trend correction, the price is testing the previously broken support and trying to consolidate in the selling zone.
The fundamental background has become sharply negative since last week, which generally determines the medium-term potential for the currency pair.
The rate cuts in the US have slowed down, but in Europe they are going to continue to cut rates. Trump's policy with his tariff system will also put negative pressure on the EURO.
Technically, against the background of a strong rallying dollar, the euro has almost no chance.
If the bears keep the defense below 1.0448 and focus on breaking the support, the currency pair may head towards 1.022 in the medium term.
Resistance levels: 1.0448, 1.053
Support levels: 1.033, 1.022
At the moment, the focus is on the two nearest resistances. It is possible to retest these zones and try to defend their borders from the buyer's side, but there are not many chances. A breakdown and fixing of the price in the selling zone will strengthen further decline.
Regards R. Linda!
XAUUSD 4H forecastexpecting a further collapse from price as a Zig-Zag correction.
note wave A and C are always motive waves
MI - sector TECHNOLOGY may be moving upExpect a deep wave 2 retracement, but for now seems like small retracement, rebound at MA 200
Current price shows MYR 2.24 (+3.23%) with key support at MYR 2.01 and resistance at MYR 2.67. The stock has formed a bullish trend since October 2024, showing higher lows and higher highs.
Technical indicators show:
Price trading above both short-term and long-term moving averages, indicating bullish momentum
Strong volume activity supporting recent price movements
Green momentum bars in the lower indicator suggesting positive sentiment
Upward trend channel formation with price respecting the lower trendline as support
Key levels to watch:
Immediate resistance: MYR 2.67
Current support: MYR 2.01
Price currently consolidating near MYR 2.24
The stock has recovered from its September 2024 lows and appears to be in a recovery phase with improving technical indicators. The presence of higher lows and sustained trading above moving averages suggests continued bullish sentiment in the near term.
Volume analysis indicates strong participation on upward moves, lending credibility to the current recovery. Traders should watch for a potential breakout above MYR 2.67 for further upside momentum.
CADJPY 1H forecastWe're in an a-b-c Zig-Zag correction wave A & C often equal and also both waves A & C are always 5 wave sequences.
Currently, on the last leg, we have an impulse pattern forming a 5th wave and we used Fibonacci multiple to set the target profit level.
XAUUSD 23.12.24OANDA:XAUUSD
Hello traders, we are currently in our wave (3) heading towards wave (4) within an ABC correction. Our wave B could either directly transition to wave C or form a 1, 2, 3, 4, 5 setup leading to wave C. We have a strong resistance zone at 2620. If we break through this level to the upside, I believe we could see a 1, 2, 3, 4, 5 setup. Otherwise, in the case of an ABC correction, we will most likely drop to around the 2300 level. This is both a Fibonacci zone of our (4) wave and the Fib extension take-profit level of our ABC wave.
XRP $7-$13Conservative targets based on Fib 4.236 of wave III of V and wave 2 of 5 lead to $7 and $13, respectively. These targets are part of wave 3 of 5 and the V wave.
$JASMY Uptrend Update
▶️The solid uptrend from early December have way to a deep correction.
▶️Nevertheless, the impulsive wave count is still valid, since green I high hasn't been breached.
▶️Therefore, I'm still bullish for JASMY, targeting 0.0600 for green V / blue 3.
End of the Bitcoin JourneyAfter not posting for a long time, I finally returned to analyzing the market, namely the Bitcoin market. From the chart here we can see the end of Eliotte, namely stage 5 in the 1 week time frame, which means what? That's right, we are at the end of the Bitcoin bullrun.
OK, I will explain a little about the chart that I made;
First, Bitcoin at the end of this year will reach its highest point at $109k-$119k then will fall slowly but still in the $100k area.
Second, Bitcoin will experience a fairly large decline to $60k- FWB:65K , why is that happening? as Bitcoin has a CME Bitcoin GAP in the $80k-$78k area.
Third, Bitcoin will experience a very large decline in March-April 2025, namely it will touch a price of $43k-$45k, why is that happening? because Bitcoin is currently forming a pattern, namely Head and Shoulders, with a low position between $43k-$48k.
What is next? OK, in my opinion, Bitcoin will hit $100k again in 2027, If;
1. Bitcoin support is strong in the $43k area
2. There is no Global Crisis.
If either happens then Bitcoin will hit $10k again. How is that possible? Yep, we forgot something, namely the CME Bitcoin GAP which is in the $9.8k area.
Maybe this is all I can say, and maybe I'll come back a few months from now.
If you find my explanation useful, don't forget to leave a donation in my Binance account with ID: 36103837 to support my idea. I'll just end it here and say thank you.
USDT.D(based on NEowave)I had to change the counting of it a little so now I think wave F is finished and we are at the start of wave G.
there is 2 ways of that which I think the red scenario will happen and we can see a beautiful altcoin season.
support and share it to publish more ideas.
1inch believe to growSo we should finish ABC coorection (if there will be ABC), and then we should start the 3rd wave of senior cycle to 1$.
It's only a Hypothesis, not an investment recommendation. Will see.
Crypto Market likely to create new low around ChrismasCrypto Market likely to create new low around Chrismas.
