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Fomonacci

Bull Trap Ahead!! Max pain incoming...In trading, a bull trap is a situation where a trader (beginner) buys an asset believing its price will continue to rise, only to see it fall sharply soon after. If you inspect the SPX chart by yourself, you'll see: 1- lack of increasing volume 2- absence of momentum 3- lack of definite/sufficient trend break 4- retesting of resistance level (Major downward trendline) 5- sus bullish candlesticks 6- last but not the least, the VIX is at the zone where the market always reverse to the downside. This is just a prime short entry in my opinion. Overall, the macro market conditions still didn't improve that much. Ofc there is a chance it breaks up, however, the odds of this being a bull trap is wayyy more likely. Don't FOMO into anything and have a bi-directional outlook on the chart; inverting the chart might help. Protect your capital and lessen your position sizes until further confirmation. Take care
TVC:VIXShort
by Cough5yrup
1
Before $100K Bitcoin Looks to Establish Support Below $30K!I've bumped my head against the monitor for the past 1 1/2 weeks, trying to find a valid, good looking Elliott Wave count for Bitcoin. I'm happy to say that I've established an outlook that's very much fitting, according to historical price action and proper Elliott Wave count. In times past, nobody has believed in the Big Crypto Reset more than I but as of now, I'll be the loudest to say that $20K will not break again (at least for the next 5-10 years). Assuming we're in Wave 4 of the 5th Wave of the Big 3rd Wave, a revisit to low $20Ks is soon to come in an Extended Flat correction. Wave 5 of the 3rd Wave will take us beyond $120K. *The drop to $20K can be considered invalid if we see $60K before then. *The pump to $100K may be inaccurate if $20K breaks on the next drop. See here for my analysis of the current position...
BITFINEX:BTCUSD
by DigitalSurfTrading
14
Keep Hope Alive: BTC Bears Look for a Major Return to Sub $10KBitcoin may be in the process of completing the biggest, most extended Wave 3 in the history of all assets, literally jumping from $3K to $50K+ in one, single, pump! Quite unimaginable actually but it sort of makes sense if you think about it (of course its easy to say this in hindsight, lol). The 4/3 was a massively tricky one to catch, which I surely failed to do. Now that Wave 5/3 has come earlier than anticipated, the count shows that we're likely in Wave 4/5 of 3. I'm expecting that we will retrace back to the $50K range and pump to nearly $60K or more, but not much more. Typically at the end of a 5/4 Wave, price retraces to the previous Wave 4 level to find more support. The previous Wave 4 level for Bitcoin lies around $4000. RSI levels are still extremely hot for Daily, Weekly, and Monthly charts. This kinda drop is also nearly unimaginable and foresight isn't quite as convenient as hindsight :)
BITFINEX:BTCUSD
by DigitalSurfTrading
14
The Infamous BTC Bulls Prepare to Test Bear's Strength @ $41.9KSmall charts under 1D have been extremely choppy which has made for a ton of liquidations on both sides of the market. I myself included. Thank heavens for risk management and stop losses. Zooming out to the 1D chart, we can see a much clear picture and pattern at play. The previous Leading Diagonal formation which I was expecting to play out, unfortunately has already occurred without my notice. Being that Wave 4/1 jumped into the area of Wave 1/1's price zone. Now that we're beyond the completion of Wave 5, we can expect the price to retest the very tip-top of Wave 1/1 (near $41.9K) This is essentially do or die for Bitcoin Bears (and Bulls alike; without $42K - the great reset is still possible). The current zig zag levels also point toward the $41.7K price tag. With A = $9641 in price, we can expect corrective Wave C to be near equality. Looking forward to seeing how this pans out. Still confident in the Big Bear :)
BITFINEX:BTCUSDShort
by DigitalSurfTrading
Ripple Prepares for Massive ShreddingI usually pay no mind to XRP but since BTC was so terribly slow today, I found myself with a little free time, so here we are. This is a long term outlook based solely on Elliott Wave theory. After Ripple’s March 2020 swing low near $0.10, the market delivered a Leading Diagonal formation which produced a super deep Wave 2 correction. Leading Diagonals (not including internal Zig Zag diagonals) give us the signal of directional change. With Leading Diagonals we can also expect a strong, possibly extended Wave 3. Considering the relationship between Waves 2 and 4, with W2 being supremely deep, we can expect W4 to be much more shallow (and less frightening. Granted, this is a long term outlook - all rules remain the same. Maybe it’ll be late 2021, maybe it’ll be early 2022 but Ripple looks to plant an All Time High near $10, in due time. Currently under $0.40, this may sound like an absurd prediction. Elliott Fiinacci don’t lie though 😊. Before Ripple takes off for the sky, the ABC correction for Wave 2 of 3rd must be completed. It also looks to be a very deep correction (expecting sub $0.30). See my prediction for this correction below. Trade wisely. Play it safe or play it smart.
BITFINEX:XRPUSDLong
by DigitalSurfTrading
3
BTC 2200 in 2020?I don't like it when I have to get creative with the chart to find a reason to stay bullish. To me all of the targets around the 2200 dollar area look like a big magnet for BTC to come down: - The bottom of the downwards parallel channel - The bottom of the Shiff Pitchfork wich seems to have strong significance - The 1:1 extension of the 3000 dollar low to the recent high - The 0.236 Fib ratio of the entire structure All of the above forms a nice cluster around the spring next year
BITSTAMP:BTCUSDLong
by Fomonacci