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What Are You Doing Ripple? BUY XRPUSDOkay we know its just a matter of time before ripple takes off, so the longer it stays in this consolidation zone the bigger the impending move will be so if you still have your ripple position, just be patient and wait a little longer. At the moment, structure tells us that we might get a slight dip back into the previous structure before can see another attempt at a potential bullish impulse and if we can break out of the consolidation then it might turn out to be the move we've all been waiting for.
BITFINEX:XRPUSDLong
by Joseph_Yabwa
1
The BITCOIN Correction You May Not Have Seen (Wave B is 29-58k)Hi Everyone, I just wanted to shed light on an Elliot/Neo Wave count that I have theorised since finding support at the 43k USD level. Now hear me out, as this does sound bizarre, however keep in mind that if this wave count is true, it projects an influx of major yet to be seen growth to BTC and is more incredibly bullish with massive upside potential than what price action we have already seen unfold to date. Lets cut to the chase... My observations are as follows, We may have just finished the Wave 4 correction at 43k USD. This correction may not have started at the 58k high though as many are portraying on the charts (I say we have actually completed it). I do believe at this point of time that wave 4 correction may have started at the peak of 42k USD (8th Jan 2021) and has just finished at 43k USD (1st March 2021). This means that the rally that unfolded from 29k to 58k was the 'B' correction wave and if this is the case this indicates extremely bullish future price movement yet to be observed on BTC. It is my personal opinion that there was a lack of impulsivity during the run from 29k to 58k (yes we did see upward price action however this unfolded with corrective nature in the middle of what should be rapid growth). In the direct dead centre of this 'supposedly impulse' move. We noticed a stretched channel of sideways price movement which has differed to the same corrective behaviour as seen in previous fractal corrections. I see corrective nature unfolding in the dead centre of this wave that majority may turn a blind eye and expected the mass psychology of extreme growth through a wave 3 when making new ATH's. WE DID NOT SEE THIS... The large green candle at the start of wave B was beyond normal price growth as Elon Musk updated his twitter bio to #Bitcoin as we know and caused rapid growth immediately. also the large green candle the following day was when Elon announced an investment of 1.5bn USD in BTC. It's also highly important to note that the sideways price movement of the depicted wave B this was sideways price movement was noticeable prior to the psychological 50K USD price mark. I have tried to negate this idea and find a logical, clean and a somewhat semi-expected 5 wave count from 29k to 58k however the corrections within this time period do not show the rapid sell off corrections we have seen previously throughout this bull run. The only place we see it occur is in the middle of an impulse wave? We know history doesn't repeat but in BTC's Bull runs we do see a lot of rhyming when bullish price action unfolds and to me this is evident during this period of price action that it shows corrective nature Invalidation of this idea is if price falls below 43k USD. If this idea is respected, I do expect within very very near future we target the ATH and exponentially grow from there as the large wave B of wave 4 is evidence of 'future price indication' of bullish price movement to come within the next impulse wave (Wave 5) that we may have just commenced and potentially targeting fib levels anywhere from 1.618 ($94'800 USD) through to the 4.236 ($178'000 USD). We will just have to wait and count the fractal waves of BTC as we move along if we do indeed progress higher. FUN FACT: These hyper bullish corrections are not uncommon and are apart of Glen Neely's Findings when he accurately projected the DOW JONES to grow from what many were expecting a depression or violent correction to occur as there was rapid price growth from August 1987 to Feb 1994 where the DOW grew from 1616 to 3985 points however this was indeed proven to be the large cycle corrective wave when many thought it was an impulse wave. By the Way, BTC 2017 Bull run had a hyper bullish wave 4 correction very similar to this prior to hitting 20k USD... Lets watch price action unfold. Thanks, Husky
Long
by Husky2795
1
Bitcoin Wave 5 Forming - Possible Uptrend to 65k-70kGiven these assumptions about wave 5, all three possibilities arrive between 65k and 70k as final target. "The three ways to forecast wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% of wave 1-3' This assumes the correction is completed, but it was significantly quicker/shorter correction than the previous two found in this current bull run (reference below, this one is about 50% shorter duration but does land firmly in the median of the others). This is invalidated if BTC breaks from its channel to resume further corrections.
COINBASE:BTCUSDLong
by 1BigPapi
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