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Wave-5

Update on Bitcoin IdeaJust a slight update to my previous BTC idea that is tracking well. I expect a weekly close above this fib resistance, and then a small rally to get people FOMOing in. Price should then take another dump to the trendline to get people scared. If this happens, I will be looking for a wick to the trendline, and a weekly close on the support line from the previous ATH at around $42,000. Alternatively, we dump straight to that trendline in the next 2 days and close the week on support at $42k. If neither of these happen in the next 2 days, this idea is invalidated. But it's been working almost perfectly so far, so I'm sticking with it.
by dontdaytrade
BTC Forecast 60k Sustained by Week 1/2 March 2021Referencing YTD channel volatility and direction, forecast wave 5 sustaining ~60k USD by end of Week 1/early Week 2 March. Accounting for the Elon factor here, the Tesla news triggered an overbought divergence north of channel within range of historical volatility (~13%). Correction this past week within historical volatility below channel (~13%) to resume current uptrend around 19 degrees, placing potential 60k sustained in 1st or 2nd week of March, not accounting for more Elon tweets. I am an amateur (less than a year dabbling in TA) so feedback is very, very welcome. Thanks.
COINBASE:BTCUSDLong
by 1BigPapi
SOS - Retrace may be completeThe initial move up is very messy here as you can see in the chart. There's a lot of spotty price action making it difficult to get a great count, but what I can say is from the bottom in December 2020 to where we are today, I see a potential for a 5 wave structure on a smaller degree that has wave 4 nearing completion. We are close to the 50% retracement on my measurement of wave 2 to wave 3. I'm willing to bet that we see a bounce from here. What I do not know is if this is the bounce that will take us to the target or if this is a dead cat bounce and we may find ourselves right back where we are today. I'd be willing to take a play around here with a tight stop loss and maybe cutting part of the position near that gap fill at the 23.6% fib retracement level (around $9.69), and loading back up on that other potential pullback. Here's the deal with this chart. Wave 2 took several days, and wave 4 usually takes a little bit longer than wave 2. In this case, I don't think we're done correcting yet, so this may be a suckers rally that we are going into. Careful for the fade. Trade carefully friends!
NYSE:SOSLong
by bitdoctor
6
Time for the Interest Rates Shock to go Away!People were shocked about interest rates, and I get it. I too was shocked and not happy with what was going on. However, for a week that was a bit on the redder side for the market, I hope instead of panic selling, everybody bought dips or took advantage of the swings. Whenever you have a high growth stock in the red during a red day, panicking is usually the worst you can do. That said, invest at your own risk. Do your own due diligence. Everything I say is on an opinion based basis.
NASDAQ:NDAQLong
by gamer456148
1
Bitcoin in for a large correction. Where to next?My previous idea seemed correct when it dipped, but BTC ended up going much higher. However it still needs to retest the upper red trendline to confirm it as support. If it does, we have just completed the first Elliott Wave of this bull run. This also allows us to see what the next levels will be with Fib extensions, assuming it keeps going up after this correction. The next levels according to the Fib extension are approximately 91000, 144000, 196000, and 229000
Short
by dontdaytrade
EURAUD - Keep move in the rising price channel (1W)!Overview: - 1W frame: The uptrend started in late July 2012 and shows no signs of stopping. The current price is hitting the support of this bullish channel - 1.57$ - 1D frame: The downtrend started in mid-March 2020 and is accumulating at the bottom of the channel. Divergence signals appear when the price goes against the direction of the MACD line (3 peaks confirmed). I anticipate this pair to rise in price this year and next. Target: 1.85$ Above is my personal opinion, I do not encourage anyone to follow suit, please manage your money, Good luck! Xin Liar
Long
by XinLiarBaby
1
ETHEREUM Bullish Correction (Neo Wave Analysis) Learn NEO WAVESHi Again Everyone, Anyone familiar with the modern Elliot Wave Theory. Its called Neo Wave and involves a reflection of the market data that better reflects todays modern markets rather then the 80's stock markets which better fit with Ralph Nelson Elliot's Elliot Wave Theory. It adds a more scientific approach to market price movements. Have you noticed the wave counts in todays time are harder to decipher when compared to charts from say 20-40 years ago? This above picture I have wave counted for ETH/USDT applies some concepts that Glenn Neely (Founder of Neo Wave) depicts in the modern day markets where wave B exceeds the commencing price point of wave A. Typically this can be seen as the "impulsive" strength of the larger fractal. Indicating that we are about to see an incredibly bullish impulse from ETH once the correction is complete. This potential wave count will give the trader the best chance of catching the bottom of a correction if your homework has been completed correctly. This to me looks valid and waiting for confirmation to take an entry on verifying Wave C completion. I have just witnessed this and executed a trade in EOS/USDTPERP which netted me a 150% gain with leverage in just 3 hours. Take a look at EOS/USDT and I urge you to take a look at the correction that occurred before the most recent bullish move upwards to the $5.40 USD (14/02/2021) and see how modern day corrections are changing the way we treat Elliot Wave Theory. Wave C even finishes above the start of Wave A on EOS/USDT. That's how Bullish EOS is at the moment. Please note this is not Financial Advice and DYOR as usual. Thanks, Husky
Long
by Husky2795