Altcoin Season 2025Crytocurrency alternatives are lining up for a deep descent in 2024, however, the timeline for 2025 points to serious altcoin run in the makings.
Simply posting for tracking and public historical reference.
Elliottwavescience
$NVDA - Majorly Bearish Macro StructureMy previous NVDA previous came in massively early. I think the stock made a 100% increase in value since the time of my original post, shown below. Despite this fact and the recent split, the overall macro formation of the chart has not changed. Although, I was earlier than I would have liked to have been, I fully believe the general sentiment and drastic nature of my prediction to be spot on.
NVDA has legs to climb up to $150-$200 possibly, but the tumble will be tremendous, over time. With 5 waves up, my fellow Elliotticians, we all know what follows.
Do I think NVDA is a crappy company? No.
Do I seriously think $2 will come? Yes
Bitcoin Seeks More Buyers Near $60KWith what started as a questionable move in the current fractal has finally given enough hints for me to come up with what I believe is a solid prediction. Starting from $15K, BItcoin printed an impulsive Wave 1, a flat correction for Wave 2, an impulsive Wave 3, a zig-zag for Wave 4 and we're not sitting in Wave 5.
Though not always, when Wave 4 is a zig-zag, Wave 5 is generally a diagonal wave. Predicting a diagonal wave to come right now is a bit premature, but lets error on the side of the general guidelines. I will update this idea should the need arise.
Gold's Goal: New All-Time High / $2K+ in 2024My expectations for Gold are coming along just as expected for the most part, barring a few micro level invalidations.
Last Fall, I expected Gold to dip below the level of $1680 before finding support on its run to a new all-time high. Even during this time, I predicted as can be seen at the top of the following chart (if you drag it down) that the new all-time high would land near $2415 . That drop has been accomplished and the pump is very well underway .
My most recent macro prediction suggested that Gold would retest the lows of $1700 before pushing up towards $2415 . Due to the height of Wave 3 extending more than expected, I am sharing this updated markup, though the target range has only slightly been adjusted (by less than $40).
Analysis is not always a set and forget it type of task. As good analysts, we have to balance being both proactive and reactive. When the proactive output finds invalidation, this is when we adjust and fine tune our expectations. The principles of Elliott Wave Theory makes this a repeatable and very logical process but only when applied correctly. Many have given up on discovering validity in this theory. I have not and am determined to master it at the highest level(s).
Thanks to all naysayers and doubters of what I do. You have absolutely 0 chance to penetrate my judgement and you only drive me to become the best. I sincerely appreciate you! For all others, be sure to hit the 🚀 button and leave your comments below. More importantly, stay safe and don't drown!
Gold Searches for Support Near $1700While Gold has bounced from the lows of the Fall, the upside move hasn't come in an Impulsive Wave which signals alternative options from my perspective. Based on the rules and guidelines of the science, its probable that XAUUSD slips and retests the support level below $1700 in the weeks ahead.
Bitcoin's Incredible Potential for a $350,000 Price TagBased on long term, consistent Elliott Wave fractal analysis, I believe there is tremendous chance for Bitcoin to reach $350,000 in the next few years. Investors must pay attention to the massive RSI divergence however. In the most elementary of lessons regarding price action and technical analysis, we should also know that an uptrend + an ascending wedge is a bearish indicator. Surf well, don't drown.
Bitcoin From 2010 to 2025: Not An Impulsive Wave (edited)A follow-up to my pervious invalidated long term idea of BItcoin reaching $3,000,000 within the next decade..
(to state it explicitly, this idea has largely been invalidated by further review of Bitcoin's macro price action).
This idea will be largely contrary to my previous. Based on a number of subtle signals discovered through Bitcoin's price action review, I feel at liberty to say that there's is no way that BTCUSD is structured in an Impulsive Wave format. Its expeditious growth has not once made a sizeable enough correction to satisfy a Wave 2 requirement - not one time. Generally, we expect Wave 2 to retrace at least to the 50% fib level, the most we've seen for Bitcoin (on the fib scale is 38%). Corrections to the 38% fib level are very commonly seen within Wave B (or Wave X) in certain cases. Whether it be Wave B or Wave X, such labeling only comes within corrective wave forms . Zig-Zags (the most common corrective wave type) notoriously travel much faster than Impulsive waves as well. At its current price level, Bitcoin has grown 1969928%, in a matter of 13 years. We could easily classify this as a much faster pump than we've typically seen outside of the OTC Market (and we know what follows these outrageous pumps in a lot of cases...)
Seemingly in a Bullish Double Zig-Zag wave, I believe Bitcoin has enough gas left to reach a range between $120,417.33 - $329,945.48. I suspect this target range could be reach between November 2024 and March 2025 (see the " Numbers and Levels to Consider " section below for reasoning).
Numbers and Levels to Consider:
1st Zig-Zag wave -- [ shown in light green ]
Bitcoin's initial 5 wave move (Wave A) grew by 313543% from ATL.
313543% x 1.618 (common length for Wave C when compared to Wave A) = 506,166%
From the bottom of Wave B in light green, C wave grew by 537084% (a bit more than 506,166% but quite close).
Considering this 1st zig-zag wave to have ended near $1201 , a 1.618 target from here points to $1,490,778.00 . 1.618 is a common extension level for where the 2nd zig-zag could terminate).
2nd Zig-Zag wave -- shown in light blue
Bitcoin's initial 5 wave move (Wave A) of this apparent zig-zag grew by 10576% .
Wave C (yet to fully develop) has two common termination points:
1) equals to 100% the size of Wave A (10576%). With Wave B ending slightly below $3,000, this would give Wave C at termination target near $329945.48 .
2) equals to a 1.618 extension compared the size of Wave A ; giving Wave C another possible target of $296716.57
Wave C within the 2nd Zig-Zag wave -- shown in white
Knowing that Wave C is a 5 wave move and considering the vertical range of Wave 4 (shown as a flat correction in yellow), common targets for the 5th wave are between 1.38 and 1.618 on fibonacci scales. With 1.38 pointing to an extension of $120,417.33 and the 1.618 extension pointing to $172181.44 , there are also levels worth keeping in mind.
In total, Elliott Wave rules and guidelines present us with 5 potential target levels for the potentially last upside swing in this form, being:
$120,417.33
$172181.44
$296716.57
$329945.48
$1,490,778.00 (this number seems like more of the anomaly here. Doubtful its reached.)
Beyond this phase Bitcoin should/could be due for another (more drastic) Crypto Winter. Based on the rules and guidelines of Elliott Wave Theory, I believe the downside target could very well drop below $10. At worst case, it becomes the next Luna-Bomber! Permabulls, Diamond Hand(ers) and HODLers should mentally condition themselves to protect capital and to remain loyal to the same. The main points to take away from this idea are:
1) Bitcoin is 1000% NOT in an Impulsive Wave structure.
2) In the traditional sense of price action, Bitcoin has not built any horizontal base.
3) Bullish corrective waves typically retrace 61.8%-89% on average .
**Current upside and downside targets are based on the idea that $15,501 will continue to hold as the regional low. If this low is broken, further analytical assessments must be made. Bitcoin's structure will not suddenly become impulsive in any regard. Surf well and avoid all major, time consuming drawdowns.
Bitcoin From 2010 to 2025: A Bullish Corrective WaveA follow-up to my pervious invalidated long term idea of BItcoin reaching $3,000,000 within the next decade..
(to state it explicitly, this idea has largely been invalidated by further review of Bitcoin's macro price action).
This idea will be largely contrary to my previous. Based on a number of subtle signals discovered through Bitcoin's price action review, I feel at liberty to say that there's is no way that BTCUSD is structured in an Impulsive Wave format. Its expeditious growth has not once made a sizeable enough correction to satisfy a Wave 2 requirement - not one time. Generally, we expect Wave 2 to retrace at least to the 50% fib level, the most we've seen for Bitcoin (on the fib scale is 38%).
Corrections to the 38% fib level are very commonly seen within Wave B (or Wave X) in certain cases. Whether it be Wave B or Wave X, these fractals only come within corrective wave forms. Zig-Zags (the most common corrective wave type) notoriously travel much faster than Impulsive waves as well. At its current price level, BItcoin has grown 1969928%, in a matter of 13 years. We could easily classify this as a 'much faster' pump than we've seen outside of the OTC Market.
Not to drag this write-up out too long as all of my notes and thoughts are shared on the chart but let this be the main point(s):
1) Bitcoin is 1000% not in an Impulsive Wave structure.
2) In the traditional sense of price action, Bitcoin has not built any horizontal base.
3) Bullish corrective waves typically retrace 61.8%-89% on average.
Seemingly in a Bullish Double Zig-Zag wave, I believe Bitcoin has enough gas left to reach towards $174,017.93 to $329,945.48. I suspect this target range could be reach between November 2024 and March 2025 however, beyond this phase Bitcoin should/could be due for another (more drastic) Crypto Winter. Based on the rules and guidelines of Elliott Wave Theory, I believe the downside target could very well drop below $10. At worst case, it becomes the next Luna-Bomber! Permabulls, Diamond Hand(ers) and HODLers should mentally condition themselves to protect capital and to remain loyal to the same.
*Current upside and downside targets are based on the idea that $15,501 will continue to hold as the regional low. If this low is broken, the idea of a new-ATH is invalidated and bottom targets could come much quicker but, its impossible for the longstanding structure of Bitcoin's chart to be changed. This should be my last post on TradingVIew for Bitcoin. Surf well!
NVDA STOCK BEGINS MAJOR DRAWDOWN - ELLIOTT WAVE SCIENCEThroughout the past 2 decades (22 years), NVIDIA has made impressive runs, increasing its share value by 822% over that timeframe. With 5 overlapping and continually extending waves being complete, the beginning of the 3 wave breakdown is already underway. From November 2021 until October 2022, this major market player experienced a 69% ($242) drawdown for what will likely prove to be Wave A of the 3 wave correction (3 wave corrections are labeled as ABC in Elliott Wave Science).
With A wave trending downwards, we can expect B wave to go against the direction of A wave, usually by 38-79% (in the form of another smaller, 3 wave move). This B wave corrective move is in motion at this very moment. (Knowing that B wave is a 3 swing move), considering the strength of its first (A) wave, it seems unlikely that a 38% retracement will satisfy the need for this form. Buyers are still adamant that the stock can see a higher price in the months ahead. The true test of this sentiment may come near $221 or $272.
Should the bulls fail to ascend above $221 and/or $272 and convert it into a supportive zone, price action suggests that the share value of this company will plummet. Within a 3 wave correction, specifically a 5-3-5 zig-zag type wave, we can expect the length of Wave's A and C to lean towards equality, its also fairly common for C wave to become slightly longer the length of Wave (by 1.618%). The main catalyst for NVDIA's market structure (being the 5 wave overlapping diagonal move seen in orange) suggests that its highly common for the correctional move/retracement to return down to the 0.618 fib level. The fibonacci tool shows that this level would equate to roughly $5.06.
The timing of Wave A within Wave 2 took approximately 11 months. We can expect a similar timeframe or slightly longer for the completion of Wave C. Wave C should be at least $242 in length but indications are that it will likely be longer.
There is good chance that NVDA drops below $10/share before/during the 2025 calendar year. This timing depends on how long the B wave correction takes to reach the final upside battle-zone.
