EuroMotif

EuroMotif Mod

Just a quick EW check

EuroMotif Mod

IF the bottom is in, then a .618 retrace should be expected. $7200 also happens to be Monthly Support 1 pivot. Should be good for a bounce for sure, whether it sustains will depend on Monday and US mood.

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Overly optimistic, I am sure, BUT: The Elliot Wave puzzle has finally fit into a viable picture for me. The last impulse down fit all EW rules (12345 bing 5-3-5-3-5 subwaves, etc). And based on the positive sentiment from US Senate Hearings, I think we have bottomed. Lets see how this plays out.

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If we drop below 8k, then 7k should be a good stopping point. Would be 382 extension for wave 5. Plus Monthly S1 support pivot, which was the low for January. So I am looking for 7k dip, then rise to Monthly Central Pivot at $12k.

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Just to throw this out there and see how it plays out.

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ETH has been following EW and Fibs very accurately. Waiting to see if current resistance is broken, or causes a pullback. That might determine with IV and V waves play out

EuroMotif Mod Updated 

ETH following near perfect EW paths for commodities. (w5 is longest) to 4.0 ext of 1-2 fib. If it does it again, it might hit 1170 on this impulse.

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1.265 has fib confluences, would be textbook end of wave 5. Assuming fundamentals start changing the next month or so, this looks viable.

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If I clone the last 12345 down wave, and assume the small ABC retrace is over, I end up at 9800. Notice the eerie bounce points predicted by the cloned 12345 . I did not reshape the cloned 12345 at all, but it fits almost exactly into established S/R zones

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Bounce from bottom was a near perfect 12345 impulse wave, fitting fibs perfectly. This impulse could be larger scale wave 1. Expecting an ABC correction to .618 of the 12345 impulse wave. 618 retrace by the ABC would make for a larger scale wave 2. Lets see how it goes.

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BTC has been bouncing between fibs. Light blue are fibs from top to bottom of crash. Purple are fibs of recent climb. $15,500 - 15,750 is the area I am watching

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Looks like a wave 3 rigth now. Expecting a quick but shallow pullback for wave 4. Then wave 5 to push above $19k.

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ETH has proven it can fight in the 4-digit weight class. It needs a healthy pullback to allow profit taking and encourage new bulls. $750.00 would be a nice psych number to hit, from where it should rocket. After a healthy pullback and climb past $1k again, I doubt it will ever come back to 3-digits. Lets see how this goes.

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My EW analysis shows a perfect 50fib to 50fib extension for the w345 portion. If we are to get a proportional 123 retrace, with 618 fib activity, the C ends up right around $2.00. Personally not a huge fan of XRP, do have a little bit, but for those interested $2.00 might be a nice psych number to buy or add.

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Just a quick experiment to see if this turns out even close or not

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Three different time frame fib numbers line up at that price point. There will be a lot of traders from different time frames watching that range. Not to mentioned the Psychological level of 12,500. Let's see how this goes.

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I am imagining an ABC retrace (after an 12345 bounce from 10k). The retrace should stop at $12.5k or so, where are multiple fibs in confluence, as well as the daily S2 pivot. I am thinking that should make for a double bottom with second one higher than first, the most bulling sign for BTC.

EuroMotif Mod

Just based on fibs and EW, and of course assuming bull mentality