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Elliott Wave

Coinbase (COIN): Strong push ahead after Bitcoin surge!After our last analysis on NASDAQ:COIN two months ago, we saw another leg down into the golden pocket and the imbalances we were watching. These got partially filled, reaching around 50%, which provided the necessary strength for a push higher. This recent jump is largely due to Bitcoin's rise over the past weeks, as Coinbase, being a major holder of Bitcoin, has directly benefited from this positive development. This surge was strong enough to invalidate the bearish trend on the higher time frame, confirming that a bullish sequence is now in play. The biggest and closest resistance ahead is the VAH (Volume Area High) traded since November 2023. With the RSI currently overbought and showing a bearish divergence, a pullback could be on the horizon. However, we aren't too concerned about this unless the price drops below $160.50. The bullish outlook will only be invalidated if it dips under $145. One thing to note about NASDAQ:COIN is its heavy correlation with Bitcoin, which introduces more volatility. The crypto market is also playing a key role in the U.S. elections, with both Trump and Harris addressing the sector. This could provide some tailwinds for Coinbase in the future. In terms of the broader outlook, the potential wave ((iii)) could see a rise toward $263-$323, though this will take time to unfold. Given the market dynamics, it's better to remain cautious, but the setup looks promising. Overall, we continue to monitor NASDAQ:COIN closely, but we are more inclined to invest in Bitcoin itself due to the inherent correlation and volatility with the stock.
NASDAQ:COINLong
by freeguy_by_wmc
GOLD → Who pressed the accelerator? Is the RALLY still going on?FX:XAUUSD continues its bull run. Prices are rising and so are the risks (before the news). What influences the growth and what to expect from the metal that surprises speculators? Gold continues to rise despite a rising dollar, which is rising mainly on economic data and the growing likelihood of Trump winning the US presidential election. Escalating geopolitical tensions between Iran and Israel, renewed talks on de-dollarization ( There has been speculation about the creation of a gold-backed currency in the wake of the three-day BRICS summit) are supporting the metal. Gold is technically at highs, which increases the risks of an unpredictable correction due to the approaching news from the US. Also the focus on China markets and the BRICS summit... Resistance levels: 2758 Support levels: 2749, 2737, 2728 The upside may continue from the local support areas as we are trading in a strong bull market. The focus is on 2749-2737-2728-2713. The market may form another flat or consolidation before the growth... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
11
EURUSD → Is a 300 pips drop not the limit? What's next?FX:EURUSD reaches an important target. As part of the realization, the price passes 300 pips. The fundamental background for further rate cuts is generally favorable The strengthening economy in the U.S. combined with a growing dollar (extreme rally of the index), the rate of interest rate cuts in Europe are doing their job. The fundamental background for the currency pair is weak, accordingly, in relation to this situation, in the medium term it is worth considering the continuation of the decline. The price reaches 1.078 - the liquidity zone. The pool of liquidity below this zone can push the price away, forming a correction to the imbalance zone, or to the local maximum, from which we can further consider the continuation of the fall. Resistance levels: 1.085, 1.087 Support levels: 1.078, 1.067 The last time the level was tested in early August. This fact in tandem with an aggressive fall of 3% may form a rebound due to the lack of technical potential to break the support level. Consolidation or correction may allow the market to accumulate strength... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
9
Bitcoin Market Outlook Elliot Wave Theory (W43/2024) // AlgoFyreThe market is expected to stay within a tight range leading up to the election, with the potential for both bullish and bearish outcomes. A bullish scenario may lead to a significant rise, while a bearish scenario could result in a correction. Both possibilities are on the table. 🟢 Short-Term Outlook (Next Few Weeks to Months) - Bullish Scenario 🔸 Leading Diagonal (Green) Complete : It’s October 22nd, 2024. Based on the 8-hour chart, we are likely correcting or staying in a tighter range until the election. Assuming results are available on election night, that’s a key point to watch. 🔸 Corrective Phase (Red ABC) : The price may drop, correct back up, and then decline again. After that, it could go either way—bullish with a potential one-two sequence signaling a strong upward move, or bearish if it completes a three-wave ABC pattern, preparing for a drop. 🔸 Timing Around the US Election : Both bullish and bearish outcomes are valid. The price may push up to take out the high, especially if this is a wave four, forming either a WXY or a leading diagonal. If it’s a leading diagonal and the high remains intact, we could see a decline. 🔸 Bullish Impulse (Wave 3) : The wave structure suggests either a bullish move or further consolidation. RSI shows hidden bearish potential on shorter timeframes, but it’s unclear if this move has more room to the downside before continuing upward. The current five-wave formation is almost textbook in appearance. 🔸 Bullish Summary (TLDR): An initial wave up, followed by a drop, is likely. The move appears to be too clean to ignore. We may see further upside with volume peaking at the top of the current wave. A complex correction could follow, potentially stalling the move until after the election. Price action could remain range-bound, giving time for the election to pass before a more decisive trend emerges. In the next two weeks, we’ll see how this plays out. Up today, then potentially down later, remains the best guess for now. 🔴 Short-Term Outlook (Next Few Weeks to Months) - Bearish Scenario 🔸 Bigger ABC Correction : It’s October 22nd, 2024. The chart shows a corrective phase, likely to remain range-bound until the election. If the election results trigger a move, we’ll see a clearer direction. 🔸 Flat Pattern for B-Wave : Expect a drop, correction, then another move down. A one-two sequence could signal a bullish breakout, but if it’s an ABC pattern, we may be preparing for a drop. 🔸 C-Wave to 52K Area : Both bullish and bearish outcomes are possible. The price may retest highs but could fall if it forms a leading diagonal. As long as the high remains untouched, a downside move is expected. 🔸 Larger C-Wave Up : The wave structure indicates a potential move down after the current five-wave sequence. RSI suggests bearish pressure on short timeframes, but the exact timing is uncertain. 🔸 Major Downtrend Next Year : The market may consolidate, form a complex correction, and then begin impulsing downward. The overall trend could remain bearish after the election. 🔸 Bearish Summary (TLDR): A move up followed by a correction could take time to fully develop. The market may stay range-bound leading up to the election. The next two weeks will be critical in determining the longer-term direction. 🔶 Key Takeaway The market is expected to remain in a tight range until the election, with potential for both bullish and bearish outcomes. A significant rise is possible under a bullish scenario, while a bearish scenario could lead to a correction. Both scenarios are valid.
by AlgoFyre
USDJPY → Attempting a trend change. Retest 149.0FX:USDJPY is testing range resistance in the rally phase caused by Friday's news - strong NFP report. The fundamental backdrop within the short-to-medium term is set... From the opening of the session a small correction is forming, the aim of which may be a retest of the support or imbalance zone and consolidation of energy before a further breakout. The market structure is locally bullish on the background of the dollar growth. The Japanese authorities are still silent about their actions to strengthen the national currency (either they think about it or don't think about it :) ), so traders are increasing JPY sales in order to buy USD. The first retest of the resistance at 149.4 failed (bounce). Emphasis on 0.5 fibo or 147.2 support from which the growth may resume... Resistance levels: 147.38 Support levels: 147.5, 147.2, 146.15 On the chart there are preconditions for the change of the local trend to a bullish one, the fundamental background is favorable for this. If the bulls will keep the defense above the support and continue to test the resistance with a breakdown target, then in the short-term-senior perspective we can catch the forging of the impulse to 152.0. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Long
by RLinda
8
NVDA Bearish Elliott Wave AnalysisDisclaimer: I did this analysis with a strong bias that the market is overrun and purposely look for a bearish case for NVDA since it seems to be the one stock that is forcefully pulling the indices up. All other usual way of analyzing waves will give NVDA a target above $153. In this analysis, I gave the following points: 1. On the weekly chart, we can see a clear downtrend in volume (can be seen on daily too). 2. RSI divergence on the daily. 3. An irregular correction W-X-Y-X-Z. 4. Fibonacci Target of the last wave. Please use this with caution and only as a reference on how a bearish case for NVDA could be.
NASDAQ:NVDAShort
by yuchaosng
8
Bitcoin: The Final Move Before a Crash to $3000It seems that Bitcoin has started forming an ending diagonal, which serves as the final impulsive waves in Elliott Wave Theory but has a corrective 3-3-3-3-3 structure, also known as a rising wedge. This wave will likely mark the end of a cycle pattern that began with Bitcoin’s inception, correcting all the growth achieved so far. A correction of this magnitude has no strict limit, but it will likely end at the lower-degree fourth wave, around $3000 per Bitcoin. This is also where the power line lies according to the volume profile. This scenario will gain more weight if, in the coming days, instead of heading to new highs, we drop below $66,500 again. In that case, I expect a correction to the $59-60K range, followed by the last upward three-wave move toward $80K. From there, at the first signs of a reversal, I believe it will be prudent to focus exclusively on short positions, targeting extremely low levels below $10,000 per Bitcoin.
Short
by myteam
55
GOLD → Consolidation at bullrun. Shall we update ATH?FX:XAUUSD is forming the lower boundary of consolidation within the local correction. False breakdown of MA-50 and support at 2713 activate buying. Bulls are aggressively buying gold at every opportunity Uncertainty around the US presidential election, market caution ahead of key US earnings reports are reviving demand for traditional safe-haven gold. In terms of the upcoming interest rate cut, the market has probably already resigned itself to the most likely 0.25% cut. Also, we continue to monitor the difficult economic environment in the markets of China... The Middle East conflict is still at the same level, with no signs of escalation or de-escalation, but it should not be overlooked. The metal is forming a sideways range of 2739 - 2713 - consolidation. A primary retest of resistance could trigger a correction to 2728, or deeper, but with a high probability, gold could continue to rise Resistance levels: 2739, 2750 Support Levels: 2728, 2713 Price may test the ATH in the near term. If the bulls break the resistance and hold the defense above 2739, gold may continue to rise. If a bounce or false breakout is formed, the price may test the nearest support. Next, we need to watch for a reaction. If gold will return to retest 2739, then the chances of a breakout and further growth will grow! Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
12
BTCUSD afternoon updateBull and bear counts for BTCUSD. Kind of busy chart, I apologize. From 64802 to 69487, it looks like price has formed a contracting diagonal. Today's low tagged .618 fib drawn from 69487 to 64802. Bearish count (red) has an ending diagonal, completing wave c of (y). Neutral count (and probably least likely, in yellow) has price looking for a wave ((5)). Bullish count (green) has leading diagonal (1), wave (2) complete, wave (3) looking north of 74139, and lots of room/extensions to run. If diagonal ends up being correct analysis, bulls must stay above 64802 and get above key resistance of 69487. Break below 64802 opens up bearish scenario. Line in sand key support 58867, break below which would likely be impulsive and confirm bearish count.
BITSTAMP:BTCUSD
by discobiscuit
Symbotic pumping (86%)#SYM bullish signs! Hot AI-stock to watch. In near future price could pull back a bit. =>this should be the right time to get into the market. The short-timeframe isnt clear enough for me to call out the specific ElliottWave structure yet (probaly forming a diagonal 1st wave). But im expecting price to dance around the blue-band. Then meet the the green-line and find shortterm resistance. When sustainably breaking out of the green-line, price could explode.
NASDAQ:SYMLong
by PF_Analysis
First Neiro(NEIRO) Ready to Fall==>> -15%_-20%!!! Today I want to analyze the First Neiro ( BINANCE:NEIROUSDT ) has recently gained significant attention in the cryptocurrency market, with a remarkable +87% increase in price over the past week . The First Neiro(NEIRO) is Memcoin and operates on the Ethereum Blockchain . The First Neiro( BITGET:NEIROCTOUSDT ) has reacted well to Andrews' Pitchfork lines , so we use these lines as Support and Resistance lines . The First Neiro(NEIRO) attacked the Potential Reversal Zone(PRZ ) three times(In each attack, the volume is reduced ), but failed to break this area . According to the theory of Elliott waves , it seems that NEIRO has succeeded in completing 5 impulsive waves and we should wait for a correction . I expect First Neiro(NEIRO) to drop at least -15%, and if the Support zone($0.00156-$0.00148) breaks, we should expect a further drop (-20%) . First Neiro Analyze (NEIROUSDT), 4-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
10
Dont Buy Silver Here; Watch Gold/Silver RatioSilver has been mostly sideways since 2021 and till 2024, when metal clearly formed a corrective price action because of choppy and overlapping moves. Ideally, that was a very big triangle that sent prices sharply higher this year as shown on weekly chart below. We have seen some nice turn up, due to inflation hedge, CB easing and geopolitical tensions. In fact, we can see some volatility in last few weeks with sharp move out of a big contracting range; its an impulsive reaction since price broke above $25, but notice that price now trades $34-37 area as expected; marked as potential resistance zone identified by swing highs from 2012, 2013, and Fibonacci levels. The reason why we should be aware of a resistance on silver and also gold, is gold/silver ratio (XAUSD/XAGUSD ), which is pointing higher after an A-B-C corrective setback. Based on past correlations, bullish gold/silver ratio is usually bearish for metals, so if ratio start moving higher, then watch out for a limited upside on silver. From an Elliott wave perspective this push higher on XAUSD/XAGUSD chart would deffinitely not be a surprise because of bullish pattern. If someone wants to join uptrends on gold and silver, then due to the reasons described above, it may not be a bad idea to wait on some pullback first. $30 can be an interesting levels in such case.
COMEX:SI1!
by ew-forecast