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[10/26] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis At 22:30 yesterday, Nasdaq showed a strong rise just before the opening, and Ethereum and Bitcoin also rose Ethereum, in particular, rose very strongly, leading Bitcoin. It's accompanied by transaction volume, and Bitcoin has formed a 20.4k high, and it's moving up and down the current section From 18.2k digits, the length of A (18.2k to 19.9k) and C (18.6k to 20.4k) are equal in a 1:1 ratio. (meaning the increase is the same) Usually, in ABC waves, a falling wave starts after being hit by a resistance in a 1:1 position. Therefore, if the trading volume of the decline is quite close here and falls without exceeding the 20.4k high, it will be advantageous for the time being. If the C wave appears as an impulse wave rather than abc, it seems that it will be possible to increase one more wave after convergence in the current section. (Renew 20.4k high.) It's still moving near the high point, so it's an ambiguous situation, but you can predict the next movement by looking at the movement from this high point. We will continue to brief you in real time in the Kakao Talk room, so let's watch the movement and respond! Responding to this position is important.
by BeastTrading_Sehyun
1
GBPUSD bullish scenario (just an idea)One can count 5 waves in the ascending triangle which shows that we should be breaking out to the top of the ascending triangle. (Breakout to the other side, than the 5th wave has closed). We have already broken out of the triangle and are testing another resistance line at 1.1478 right now. If we can clearly get over that resistance the triangle breakout is probably not a fake out and we can aim for the height of the triangle entry. Still there is another resistance at 1.2285 that we have tested in the past.
Long
by Yannick_Viewer
2
[10/25] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis Last night, a drop occurred and left the rising parallel channel, which is currently located at the bottom of the channel without being raised up. The most likely view at this point is the convergence view. The transaction volume conditions (the transaction volume must gradually decrease within convergence) are also met, and the internal sofa movement seems to fall neatly to abc except for a wave among convergence abcde. If convergence is correct, it is expected that the D-c drop will occur in the current section, where D-b has hit a 0.5 return of D-a, and if it goes to the bottom line of convergence, D-a and D-c will fall neatly at a 1:1 ratio. The bottom line of convergence is likely to be about 18.9k, and the long profit and loss ratio looks quite good. It would be good to set the break to 18.8k, which is judged to have broken the bottom line of convergence. *The blue scenario in yesterday's analysis has not yet been scrapped, so you can just go up from where you are. Therefore, it is not recommended for those who do not have a short position to force themselves to catch up.
Long
by BeastTrading_Sehyun
6
Bitcoin hanging onto Lower Warning Line of Key Pitchfork!!Since the low of $18125 price action has remained quite corrective and consolidative and has adhered strongly to this pivotal Schiff Pitchfork; using the genesis of wave W, the end of wave W and the end of Wave X as the 3 pivots. Price has constantly adhered to the Schiff Pitchfork and price is holding onto the lower warning line, having tested the lower warning line many times without any strong indication of buying strength with a likely breakout to the downside to occur. This comes in line with previous Macro Elliot Wave analysis accounting for a move building to the downside, where impulsive subwave strucutres are evident of a possible larger Macro 5th wave to the downside from a 5 wave move down from the ATH at ~$68000. A break of the lower warning line as well as key support strucutures at current levels is likely to trigger a sharp impulsive sell off; with preliminary targets of $16200, $14800, $13500 and $10800 as some key levels of support for an ultimate completion of 5 waves from ATH. Additionally, MACD is beginning to converge bearishly with a bearish cross likely showing downside momentum could be imminent. If you would like to check out previous analysis on BTC, it can be found linked below. Like for more ideas and Advanced Elliot Wave application and have a good day!
Short
by NICKVASS10
1
[10/24] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis It hit a low of 18650 on the 21st, and rose to around 197 with a rebound this morning. We see three directions on the Elliott wave, and I'll start with the first red perspective. Red - less than C I think ABC started from 18.1k. From 18.1k to 19.8k, the A wave, and after the B wave fell, the C wave rose by nearly 0.618 (61.8%) of the A wave We are also considering this view because the buying trend is weaker than other zigzag waves, so the C wave may have been shorter. From this point of view, strong downward fluctuations can begin, starting with the 19.7k high. *When this view is discarded - If it exceeds 19.7k again, this view is abolished! Standard ABC Zigzag 18.1k ~ 19.8k : A 19.8k ~ 18.6k : B (abc) C-wave rise is underway from 18.6k. In this case, we will go to pierce 19.7k, the high point formed at dawn, and it seems that it can rise to 20.4k, where the ratio of A to C is 1:1. *When this view is discarded - 18650 When it is breached, it is discarded! Convergence - abcde triangle It's a view that it's converging from 18.1k. It is moving within a triangular convergence, meeting the trading volume conditions of the triangular convergence (the trading volume must gradually decrease). So far, a, b, c have appeared, and the direction is likely to come out after d, e waves. If you can't break through 19.7k and rebound around 19k, the convergence perspective is likely. *When this view is discarded - Peggy if one of the top and bottom of convergence is pierced immediately without support or resistance + The 19k to 19.2k section is the selling point that has been formed for the past few days. Currently, it is located above the sales floor, so I think that seat will be the support section.
by BeastTrading_Sehyun
2
Possible Downside to Bitcoinhello traders Bitcoin is still inside the wall of sellers and it is possible that we will get another bearish impulse wave, so we are now looking to sell, but there are conditions for executing a sell trade First, the level of 19858.98 is not broken Breaking the last wall of buyers, and the reaction of buyers after the break is corrective, and sellers also overcome it If these conditions are met, a sell trade will be executed to target the level 18568.12
Short
by ARABTRADERX45
9