In the previous idea we were looking for safe buy opportunities. The breakout long trigger had been attached to the trendline, and the price broke it @ 8200. Then it took some time for a classic bottoming pattern to emerge (H&S). This breakout trade was best exploited in TRON: Currently, the standard H&S target is 9018. Short-term trend is now 'Sideways' and is...
A nice breakout setup is brewing in TRON/USD. In most cases, this kind of Triangles resolve to the downside. So, this is the preferred scenario. Still, at this point we cannot confirm this Triangle as a 5-point pattern yet, so I'm also preparing orders for a bullish scenario. All keys levels are drawn on the chart, we're setting for a ride.
In the latest update I defined two support levels aka bears' targets at 8020 & 7780. The first was hit overnight: Overall, since early May there were no safe entries for buyers. Now we are looking for one in the 7800 area. Important levels are drawn on the chart. If the price doesn't drop down there or should this zone be breached, the safest entry is to trade...
In the previous idea I identified the optimal buy zone in the 8150 area and a minor long triger at 8535. The latter gave boost to the bulls, which triggered some bullish H&S patterns in altcoins (ETH, XRPBTC, QTMUSD): In the latest update I warned against being agressive in this environment: "One should be very careful trading this patterns, as forming a major...
In the previous ideas I specified two target zones for the bears: 8620 & 8210. "Currently, I have little doubt that the price will drop below 8650 within a week or two, so the question is where to go short": The main target of 8210 was reached yesterday, and now the price is coiling to form a Triangle just above this level. Conditions for at least a short-term...
The price of Bitcoin hasn't changed much since my previous idea: I still expect it to reach 9600+ before reversing for a deeper correction. This time, though, I would like to present you with my wave count for the short-term trend. The 5--wave nature of the bullish advance is pretty much obvious, and should be followed by a 3--wave correction. Its first leg began...
The previous update: The assumed Triangle wave pattern failed, giving another boost to the bulls. The way to 10k seems to be open The price did hit the box, and then retraced sharply. Given the clear bearish divergence pattern on H4 and Daily charts, I expect the correction to continue to the specified targets zones. But before the price is likely to test the...
Bitcoin followed the script yesterday rising to Wave D target zone near 9300: Wave Pattern At the moment Wave D top has either been formed, or is close to completion within 9400 range . So, I suggest buying the dip in the 9000-9050 zone (projected Wave E bottom). Trend & Volatility Trend indicators are clearly in flat mode. Volatility pattern is very...
After many days of rangebound activity, the wave pattern has been clarified: we are dealing with a Triangle. In the previous update, I identified the break from a Diagonal triangle ( in fact, this is a simple wave C ), which of course is a clear bullish signal: Currently, the price is heading towards wave d target zone near 9300. Volatility has been steadily...
Assuming Bitcoin completes the Triangle and breaks out, we have a couple of lucrative setups in alts. According to NewsBTC, EOS's market valuation has surpassed that of SpaceX, which means this rocket flies higher. Indeed, its recent surge is terrific, and I'm looking for new trading opportunities here. Inverse H&S pattern is developing, so we have a buy zone...
In the previous idea I wrote that I'm willing to take short position only if price breaks out of the channel. It did break when H&S developed, and the setup allowed to take intraday profit. Currently, the wave pattern remains unclear. Two most probable scenarios are presented on the chart. The first implies the development of bullish Triangle. The trigger...
From the standpoint of technical indicators, the trend is clearly bullish (MAs, RSI). So, I'm willing to take short position only if price breaks out of the channel. I would like to pay your attention to this fractal: The only difference between these two is that they developed on different stages of the trend: the first pattern initiated the bullish trend, and...
Yesterday we didn't expect Bitcoin to go much higher than 9350-9500 ("reversal zone"). The trigger for going short was placed at 9015. Price has indeed stuck in this range without triggering any action. Currently there is no confirmation that a top has been formed as a break above 9550 will suggest higher prices. Still, I'm moving the intraday sell stop order to...
Even though the previous idea was banned for some kind of rules violation, it was successful. The setup was the following: Currently, all five waves of the pattern are in place, so I don't expect Bitcoin to go much higher than 9350 or 9500 (second resistance cluster). My trigger for going short is 9015. I will update it according to price action.
Bitcoin has been trending upwards since April 12. Under my Elliott wave model price is bound to finish wave (5) either in 8600+ area ( main scenario ) or just above 9000. I will update the chart as soon as there is a reversal signal.