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Elliott Wave

Why is BTC down today?Stocks and crypto both down the last couple of days. BTC often levers the remainder of the cryptosphere up and down based on it's own direction. Very much like a teacher and a group of students. Most will do what they're told, but there will also sometimes be a couple of rogues that don't follow the pack. With regards to BTC, we could be looking at a head and shoulders top. We've seen a piercing of the neckline today, only to rebound back above it. I'd say that if we see a decisive open and close below the neckline on a 4HR timeframe (minimum) H&S will be confirmed and we'll be down to the long purple box where there lies good resistance. Fear not! This is normal, natural and if you're an investor don't go chopping and changing. Just enjoy your weel and look out for the next few posts where we could leverage a great buy back with some extra cash. So, if you're going to do anything - raise some capital to add in! Follow and share for more.
by cryptechcapital
1
GOLD → False or true resistance breakout?FX:XAUUSD is trying to consolidate above the previously broken boundary of the ascending channel and symmetrical triangle. The struggle that has not ended creates risks for both buyers and sellers. Economic problems in China and Trump's policy risk continue to support gold. Inflation expectations are rising amid rising oil prices and the outlook for trade policy in the US. Friday's NFP report showed strong employment growth, making it less likely that the Fed will significantly cut interest rates in 2025 Traders' attention is also focused on CPI data to be released on Wednesday and its impact on future Fed policy. Resistance levels: 2690, 2700 Support levels: 2685, 2678, 2665 At the moment, the price is in consolidation above previously broken resistance. If there is no bullish momentum and the price makes a false break of the channel resistance, in that case gold may go down to 2678 - 2665. BUT, a break of the local downside resistance could trigger buying and upside to targets: 2700 Regards R. Linda!
FX:XAUUSDShort
by RLinda
16
JP Morgan (JPM): Correction on the HorizonJP Morgan ( NYSE:JPM ) is back on our radar as the upcoming earnings season begins, with the banking sector leading the reports. We’ve analyzed JP Morgan before, and the current setup offers intriguing opportunities. Since 2023, the stock has maintained a steady upward trend that continues into 2024. Currently, NYSE:JPM appears to be in sub-wave ((iii)) within the larger wave (3) or possibly wave 5. However, we anticipate that sub-wave ((iv)) correction is yet to occur, aligning with the broader structural narrative of the chart. Presently, the stock is trading near a critical trendline originating from the top of sub-wave ((i)). This trendline, which has shifted from resistance to support after multiple touchpoints, now risks being broken. Should it fail, the price could fall from its current level of $243 into a range between $204 and $173. A drop to $173 would represent the maximum correction in our view, while a more realistic pullback would fall within the $204 to $188 range. On the bullish side, the wave 5 could push up to approximately $260, a modest increase from the current price. This scenario fits within the Elliott Wave framework, anticipating a wave ((iv)) correction before the final upward moves to complete wave 5 and the larger wave (3).
NYSE:JPM
by freeguy_by_wmc
Oil Elliott Wave AnalysisHello friends On the oil chart, we are witnessing the formation of a 5-wave bullish pattern, which indicates an increase in the value of oil. This 5-wave bullish wave has completed wave 5 of 5. Between waves 2 and 4, we also witness an alternation, and wave 3 has more microwaves or, so to speak, more complexity, and this is a confirmation of our analysis. This means that the price increase has reached its end. The possibility of an increase in the price of oil is very small, unless wave 5 forms more complex microwaves (such as wave 3, which has more microwaves). Now these 5 waves can be wave 1 or A, and the corrective wave after that is wave 2 or B, which I give a higher probability of forming 5 waves. In both cases, the price of oil must correct. This correction can continue to 50% ($ 76) or the downward trend line of the previous wave, which is the 76.8% Fibonacci range ($ 73). Be successful and profitable.
ICEEUR:BRN1!Short
by M_Gheysvandi
Kusama's Potential Profits Amidst CorrectionsHi All, 👋 🚀 After the arrival of Smart Money, the Kusama market saw an upward trend 📈, which is now undergoing a correction 🔄. Predicting the exact level at which the price will react or if it will surpass previous levels is challenging. It depends on the buying power and pressure of investors 🏦. However, there is potential for a movement yielding a 70-100% profit 💰. Despite the promising outlook, it's crucial to avoid gambling 🎲 and always invest or trade with a risk and capital management strategy 📊 🌐 Kusama and Polkadot are both independent blockchains, but they are closely related. Kusama serves as a "precursor" or test network for Polkadot, allowing developers to test projects in a lower-risk environment 🧪. They share a common infrastructure and work on "shared security" and "cross-chain communication" 🔗. Kusama offers a more experimental environment 🔍, resulting in a higher number of projects compared to Polkadot. Notable projects on Kusama include parachain networks and decentralized applications like Karura, a DeFi platform 💻 Good luck, everyone! 🍀✨ Happy Investing All, ❤️ Armin
Long
by ArminAcademy
2
Updated wave count shows wave D complete.So, I’ve updated my wave count to better align with what has happened, and discovered something I had missed in the process. What I thought was wave E is probably better explained as a part of wave D, and the recent breakout was the final leg of wave D. Wave D in a triangle often ends with a breakout attempt, and my anticipation in seeing it earlier but it not being there has now been resolved! In redrawing it has become clear that wave D has been trading inside a rising wedge, which is now ripe for wave E to drop out of the bottom of it. I had missed this, but price is consolidating at the bottom of the wedge now. Target for a rising wedge as a continuation pattern is the start of the lower boundary of the wedge, which puts it at $1.98. However, wave E more often undershoots expectations, as opposed to overshoots them. So my target remains $2.15 - $2.05. There is the observation of alternating wave characteristics, so if wave D is long and complex, wave E is likely to be short and simple. The arrow pointing up at the end is what I expect, but that is based on hope. It could be an arrow down and I’d have just as many reasons to explain why it’s pointing down. So, although the weekly looks as though it’s possibly targeting $1.90 as a weekly ABC, the actual structure of the correction remains a triangle and so wave E undershoot remains keen in my mind. Just keeping it real, not doing any fudding or owt.
by Indiroots
1
NAS100USDNow on my recent analysis for S&P500, we looking for bears, however here we may be having a bullish flag or compression continuation pattern. If my wave count is correct, then based on historical pullbacks on this chart, we may be correct with the continuation pattern which should pull back towards the 0.5 Fib area. Safer to still look for selling opportunities as currently we have a lowe new low, after breaking the price marked/indicated in blue on the chart/annotation.
OANDA:NAS100USDShort
by TheGreatestOne
Anticipating a Drop on Goldman. GSIt is looking like a start of Wave 3 or C, as per Elliott. We are inclined to believe that the drop will be impulsive, secondary to a short time in the correction post Wave 1 (or A), suggesting Wave 2 completion, rather than B. Technically, stochastics and volatility zones are about to flip, momentum down going. Also, there is a cross of both the Smoother by Ehlers and MIDAS curve. This is a highly suggestive bearish picture from and eagle's eye view. Aiming to reverse position in the event of contralateral MIDAS curve cross.
NYSE:GSShort
by Rykin_Capital
1
Bitcoin is Ready to Attack Heavy Support Zone!!!Today, January 10 , key U.S. employment data , including Average Hourly Earnings , Non-Farm Employment Change, and the Unemployment Rate , were released, influencing global markets, including Bitcoin ( BINANCE:BTCUSDT ). Stronger-than-expected employment figures suggest a robust economy, potentially leading the Federal Reserve to maintain or increase interest rates. Higher interest rates can strengthen the U.S. dollar ( TVC:DXY ), making Bitcoin and other cryptocurrencies less attractive as alternative investments , possibly exerting downward pressure on their prices. -------------------------------------------- Bitcoin started to pump from the Heavy Support zone($93,400-$90,000) , as I expected . ( Bitcoin allowed us to enter a long position two times .) Bitcoin is moving near the Resistance zone($96,800-$95,520) , the upper line of the Ascending Channel , and near the 50_SMA(Daily) . According to Elliott's wave theory , Bitcoin seems to complete wave C of Zigzag waves(ABC/5-3-5) . At best, wave C could rise to $99,000 (but unlikely). I expect Bitcoin to go down based on today's US employment data and the fact that the U.S. DoJ received court approval to sell 69,370 BTCs . Bitcoin will attack the Heavy Support zone($93,400-$90,000) again soon, and this attack may be able to break this zone . ⚠️Note: If Bitcoin goes above $99,000, we can expect more Pumps.⚠️. ⚠️Note: We should expect more dumps if Bitcoin touches $93,500 before reaching the Resistance zone($96,800-$95,520) again⚠️. 🙏Please respect each other's ideas and express them politely if you agree or disagree.🙏 Bitcoin Analyze (BTCUSDT), 15-minute 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
28
FBMKLCI hammer on daily timeframe may signal REVERSALminor wave is not the wave 2, need to recount the wave Looking at the FTSE Bursa Malaysia KLCI Index chart, here's my analysis: Current Price Action: - Trading at 1,585.52, down 1.05% - Currently testing key Fibonacci support levels - In a potential wave (ii) correction Elliott Wave Analysis: - Completed wave (i) at 1,682.48 - Currently in wave (ii) correction - Projecting waves (iii), (iv), and (v) ahead - Wave (iii) target around 1,720 - Final wave (v) target could reach 1,720-1,730 Key Technical Levels: 1. Support: - 1,587.66 (0.618 Fibonacci) - 1,605.77 (0.5 Fibonacci) - 1,561.89 (0.786 Fibonacci) 2. Resistance: - 1,623.87 (0.382 Fibonacci) - 1,682.48 (previous high) - 1,693.20 (major resistance) Technical Outlook: - Descending triangle pattern forming - Price near critical support level - Potential for bullish reversal if support holds - Volume needs to confirm any breakout Trading Considerations: - Watch for bounce off 0.618 Fibonacci level - Major resistance at previous wave (i) high - Stop loss could be placed below 1,561.89 - Wait for confirmation of trend reversal
FTSEMYX:FBMKLCILong
by pengamalgelombang