DarkPenciI

DarkPenciI

We broke down bearishly from the triangle we were forming but I believe all we are doing is putting in a final impulse down before starting another impulse up. There are definitely alternatives to this count to break the golden zone and count this as a 1-2 but I'm still leaning to a wave 4-5 count to accommodate the halving coming up as well as the Alt market that...

DarkPenciI

Is it possible that we are in a huge symmetrical triangle to finish this wave 4 of the macro look of BTC? I'm still leaning on us hitting a new high before the halving due to the hype and year end push, but the lack of excitement behind BAKT launch and slow bleed may show that we are in a more side way trade for another 6 month or so. This may also mean that Alts...

DarkPenciI

we broke the golden zone during this correction but seems like the low will hold and we are on our way to test the last highs. I see us pushing for $800 area within the next 5 months while BTC reach new highs and finally for $2500 area next year while BTC cools off and stays range bound.

DarkPenciI

Personally I believe the correction has ended and where it ended makes me more inclined to think that we just put in a wave 4 not a wave 2 and that we should be going into a wave 5 which I believe will be very extended considering the hype of the halving coming up as well as the holiday seasons that seemed to work well with the last extended 5th wave. This means a...

DarkPenciI

AMD has been performing well the past year but it is due for a little more correction after the last drop. I believe once we hit a big support around 24~26 dollar range it should be primed for one more big move up. If this move coincides with the crypto currency market coming back in, AMD should see a huge growth as well since it has been correlating pretty well...

DarkPenciI

With the recent Chinese Tariff issue and overall economic slow down the stock market has taken a hit and looks like we have more room to go further down. Overall I don't see a longer term recession kicking in for at least another 1~2 years but there should definitely be a slow down in the overall market and seems like we may be printing an ending diagonal to inch...

DarkPenciI

We are in middle of a complex correction. Currently it seems like it is a very complex WXY correction that is looking to double bottom around the $11000 area. This will be invalidated with a close below 11000 at least on a 4hr candle but seems like it will most likely hold. Now the question is if this is a 4 from last low or 4 from the previous low, or a B of a...

DarkPenciI

Going into the correction, I was expecting a deep 4 correction, but at this point it looks like a 2 and it might even be an A wave of the 2 that we are putting in, BUT by the looks of the ETH/BTC pair that is putting in a ascending triangle pattern, seems like we may be looking for a wave 3 off of the low we should be putting in, in the next 2~4 days. The golden...

DarkPenciI

I thought we would get a corrective pump for all alts but it seems like we are going to capitulate earlier than I thought and start a multi month alt season in the next few weeks and last until end of the year. With that in mind, I believe ETH is correcting VERY deep for its wave 4 and going to pump VERY hard for the wave 5 which is not the first time. I believe...

DarkPenciI

First trade taken. The parallel channel from the lows seems to be coinciding with this ABC move up and the golden pocket zone of the move down from the high to the local low. Targeting a final target at the .5 fib level of the entire 2019 bull move around 8500. Stop loss right above the golden zone. Risking less than 1% for 30% gain.

DarkPenciI

LTC has been leading the pack in this bull season. The LTCBTC pair has been acting almost like a guideline for the rest of the market, and I believe it will do that once more. Litecoin halving is to happen beginning of August, and some people say that LTC has already topped out and the news is already priced in, but if we are to look at the market as a whole and...

DarkPenciI

Using EW for Alt.D is probably pushing it a bit, but I think it fits the narrative of the market as a whole IF BTC price moves as I think. If we are to believe that BTC will hit blow past beyond previous ATH and way beyond before the halvening next May, it is hard and almost impossible to think that Alt/BTC pairs will do well once BTC gets out of current...

DarkPenciI

Learning to use more tools and trying not to force them into my ideas, but it is pretty cool when it fits almost too perfectly without forcing it. Trying out this fib time extension tool from our swing high to swing low and it seems to line up pretty on point for the reversal points and lines up with where I see price moving as we go along with targets. In...

DarkPenciI

Just for self reference. This is what I see and hope for BTC within a year. With halvening happening sometime next may I see a new ATH somewhere between 28~40k and a swift correction starting before the actual halvening for about half a year before a face melting wave 5 that I'm guessing around least 100k. I see maybe 2 mini alt seasons and one major one and...

DarkPenciI

Still too early to say how BTC will correct in what pattern, but from a fractal of BTC from the last bull move, an ascending triangle might be a good possibility after hitting the .500 fib level within the first 1~2months and a consolidation period before another big move up before the halving. This lines up with an alt season that is over due during this summer...

DarkPenciI

The target around .022BTC seems to line up with my $250 target for the usd pair before the halving. The LTC/BTC pair seems to be moving in a ABC movement in the longer term view. It is possible that we are just starting the wave 3 of a 5 wave up, but from previous moves, LTC/BTC pair does not move in normal EW movements and tends to move sporadically ahead of...

DarkPenciI Updated 

I believe we are near the top of this BTC bull run. I believe we are finishing up wave 5 of wave 5 in an ending diagonal pattern. We will be in a correction for the next few months and I believe we will see a triangle correction for the B wave of the ABC and give the Alts a chance to catch up before BTC finishes correction.

DarkPenciI

LTC has been leading the market this bull market and has seen some crazy move up in short span of times. The EW count is almost impossible to decipher in this final move up but with upper targets as a magnet, the price seems to be moving up step by step with correction and consolidations. The worrisome part is the fact the LTC/BTC pair has been on a straight free...