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Wolfe-wave

BTC - possible end of the major correction (H4/Daily)Hello All! What looked like an almost free fall at certain point today for BTC is currently halted. The price re-tested Dec 2017 lows and bounced back being supported by really high stopping volume at point 5 of the grand Wolfe-wave. However, it is hard to say if this is really the long-awaited end of correction or just a dead cat bounce - in the last case, BTC is likely to re-test strong demand zone at 9k which had already provided the base for the previous major move before (purple WW in the bottom left corner).
BITSTAMP:BTCUSDLong
by OceanBlue
2
Bitcoin in a Wolfe Wave pattern - Elliott Wave & beyondBTC in a possible WW pattern. Market eyes line 1-4. Technicals of WW: 1 - Points 1-2 should be FARTHER apart than points 3-4 2 - Point4 should exist WITHIN the range of Points 1 and 2 3 - The lines defined by these points should be referred to as Line 2-4 and Line 1-3 4 - Line 2-4 and Line 1-3 should CONVERGE always 5 - IF Lines 2-4 and 1-3 converge DOWNWARD (as in this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BULLISH WW 6 - IF Lines 2-4 and 1-3 converge UPWARD (opposite to this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BEARISH WW 7 - A NEW line should be defined, connecting Point-1 and Point-4. a) Points 1-2 are connected by a zig-zag ( a simple a-b-c pattern in this case) and points 3-4 are connected by a flat 3-3-5 INDICATORS confirmation: 4hr MACD bullish divergence WW Model eyes line 1-4.
BITFINEX:BTCUSDLong
by IamCryptoWolf
6
XRP bullish setup (m30/H1)After tremendous bullish run, Ripple entered correction phase and formed another Wolfe-wave. Really high stopping volume at points 3 and 5 are confirming the validity of the pattern. It is possible that the price will retest the recent low and will form double point 5 or even get to the indicated support line. If this is the case, it'll form another wave which is still bullish in nature. If not, the price will stay within indicated blue pattern and will continue the already established uptrend.
Long
by OceanBlue
THE IMPORTANCE OF VOLUME ANALYSIS: Part IIThe wave is currently finalized and is working as planned: I ended the previous post pointing at the lack of the volume required to confirm trend reversal at supposed point 5. And in fact, for quite a while the price kept slowly drifting up and down without substantial moves in any direction. This situation lasted until bearish volume spike on 07/11 that initiated real trend reversal. It is also necessary to point out that though that spike was only medium in nature, but the change in its volume compared to previous data was sudden and drastic. Later the volume changes were driving the price accordingly up and down, but most importantly the local bearish trend was established and continued successfully. Currently, the price is close to the crossing of the line 2-4 at which volume dynamics should be carefully monitored as this may provide a good tip if this is really the end of the analyzed downtrend. If you have any questions, feel free to ask in comments or PM me.
OANDA:UK100GBPEducation
by OceanBlue