1BigPapi

1BigPapi

Interesting tracker to see if you've regained value post-correction from the February to March correction.

1BigPapi

Not TA, just a quick visual reference. Around 15 February BTC was ranging at the same price point as today (05 March). How have ALTs performed in that time? Most of them dumped in correlation with BTC dumps, but didn't regain ground as quickly. Newer coins like DOT and ADA aren't correlating to BTC and have climbed in short term, partially influenced (possibly) by...

1BigPapi Updated 

No meaningful TA here. Just an overview on the angle trends, price growth/loss during the past two quarters. General observation is that volatility grows each wave up, with the last correction volatility was highest, and the correction was significantly shorter than earlier corrections, though well within the range of correction, about halfway between the %...

1BigPapi

In mid February (15 February to be exact), Bitcoin hovered around the same price range as today (04 March). It looks like a double whammy, the spike up to 58k for BTC pulled value from alts and then the miners dumped soon after and we know what happened after. BTC has taken much less of a hit (as is to be expected). Some alts took it extremely hard like BCH which...

1BigPapi Updated 

Measuring the average uptrend angle since correction on 23 February is around 57 degrees. Adjusting for the 72 hour timeframe and current uptrend angle we arrive at 47 degrees uptrend. Factoring in the range of growth on each swing, we arrive at 3 possible price targets on this current movement. If BTC continues up along this current channel, we will retest...

1BigPapi

We see a falling wedge forming on BTC on the day chart. If BTC falls to around ~41k overlapping wave 2 in this wedge, it will be indicative of an extended corrective wave and continue down for 5-10 days more before resuming uptrend. This would put us around 16 days total correction which falls in line with the durations we saw in the previous corrections during...

1BigPapi

Given 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...

1BigPapi

While I think larger sentiments and data indicate a continued bull run long term, we can't dismiss continued short term correction and bearish sentiments. Possible 3 wave correction breaking out of falling wedge within ~48 hours. If we fall South of the wedge that would invalidate this forecast and we'll retest 43k with additional strong support between 40k and...

1BigPapi Updated 

We are in a slight ascending triangle at 9 degrees on the hourly chart. Volatility drops by about 25% each swing indicating short term consolidation prior to breakout later today. VFI indicates short term bearish trend but long term sentiment is still bullish, the breakout may retest 44k but can't rule out break north and retesting 47 and 48k. Would watch...

1BigPapi

Applying historical angle trends to current market. Historical: 2017 ATH closed that month on the same angle trend the FIB retracement posted to the ATH , when overlayed against the start of the trend versus lowest low. Current/2021: applying that logic to the current trend we arrive at 1530 for the monthly close. Note: I am still relatively new at TA so...

1BigPapi Updated 

Referencing 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...

1BigPapi Updated 

Testing elliot waves in a downward channel. Strong support tested with a double bottom around 30k yesterday. Probably signaling reversal and trend to continue up and test highs around 32.5-33k next. Feedback very welcome.

1BigPapi

Practicing my elliot waves. Feedback welcome.

1BigPapi

Caution: I am a novice trader, mostly practicing, but welcome any feedback. Thanks! I expect it to test support in the low 30s, if it breaks below support at ~30k, expect it to drop to 28.7k, then 25k.