MarcusAu

MarcusAu

It looks like IXIC is ready to break above historical all time high and rally significantly to the 9000s in the last quarter of 2019. The semiconductor index has already broken above the ascending triangle, next target is 2000 in a couple of months. However, if Nasdaq Composite fails to sustain this rally it might drop and retest the 8000 support. If it...

MarcusAu

Three possibilities, it is possible that BTC will continue to consolidate between 9200, 11000 and 12000 for 1 or 2 months. www.blockchain.com Fundamentally, this is because BTC transactions excluding 100 most popular addresses have dropped significantly from the 2 May 2019 top, which means a lot of the hype money have left BTC market. They will return...

MarcusAu Updated 

My previous analysis has been very accurate, BTC rose from 9050 to 12300 in the first week of August, then dropped from the 0.618 resistance of 12000 to the 0.236 support of 10194 and the 100-day moving average on 15 August 2019. Today, 19 August is the 5th day of bitcoin's consolidation around the red 0.236 line of the long term fibonacci ascending channel....

MarcusAu Updated 

The 35% correction from 14000 to 9000 in July is Wave 2 of the grand bitcoin Wave V. Looking at the ascending fibonacci channel, we can clearly see that BTC has approached the 0.236 channel line resistance at 8300, dropped quickly to 6200, up again and challenged 0.236 resistance line again at 9100. Failing to break above, BTC dropped from 9100 to 7500, then...

MarcusAu

ASX 200 has finally broken out of Wave 2 correction, Wave 3 shall rally up to 8400, which is 1.618 extension of Wave 1. If ASX 200 behaves similarly to what happened after 1987, this Wave 3 will go up to 1.618 extension and drop from there temporarily, and then rally all the way up to at least 2.618 extension of Wave 1, which is 11600.

MarcusAu Updated 

If you guys listened to my advice in July, you should have made some good profits now. However, after careful analysis of DJIA's daily and weekly structure, I am convinced that this ongoing wave 4 correction is actually better described as WXY style, instead of ABC style correction. The top of Wave 4's Wave X (1 Oct 2018) did manage to get a bit higher up than...

MarcusAu

Unfortunately Tradingview doesn't have the complete historical chart of American stock market dating back to the 1830s or even 1790s, the age of Philadelphia "Board of Brokers". I'll try to explain briefly here: www.chartertrust.com 1790s to 1835: 1st Wave 1835 to 1842: 2nd Wave 1842 to 1929: 3rd Wave 1929 to 1932: 4th Wave Now is the important part: 1932 to...

MarcusAu

2009-2021/2022 should be Bitcoin's Wave 1 in the Grand Cycle, and we're currently going through Wave V of this Wave 1, the 2018 bearish market serves as Wave IV of Wave 1. Looking at the Wave 1 fibonacci ascending channel, our Wave V should go to at least 200 000 USD, if it does approach the top line of channel, then 600 000 USD in 2021 or 2022 is quite...

MarcusAu

Having dropped to 3100, bitcoin has most likely finished its large scale Wave IV correction. After retesting the 3200 support level, BTC is now going up, firmly in an upward trend. The 50 and 100 week moving average serve as the upper resistance area, while the old 3200-3500 should be a strong support. BTC may drop from here, at 5500, or continue to go up to 6400,...

MarcusAu

Bitcoin has reached the top line of long term descending channel on 4 September 2018, failed to break above it, and dropped from 7400 to 6100 this month. We're definitely still going through Wave C correction, which is not finishing anytime soon. BTC/USD Trade volume is drying up on all major exchanges, because bitcoin is consolidating between top line and 0.236...

MarcusAu

Note: I define trend on a specific timescale as something like this: Monthly Trend Bullish= price will be higher in 2-10 months. Bitcoin Yearly Trend: Strong Uptrend Reason: We're in Wave IV circle, one big bullish Wave V to go. Bitcoin Monthly Trend: Strong Downtrend Reason: Wave IV is not finished yet, I forecast the lowest point would be between 2000-4000...

MarcusAu Updated 

Bitcoin is going through Wave (3) of Wave C, this Wave C starts from Feb 2018 and will not end anytime soon, probably not this year. I think this Wave C is part of a Wave IV cycle, as the Wave III top is $20000. When Wave IV finishes, BTC could rally up to $130000 in a couple of years, I will explain the mechanism of this potential rally later, in another idea...

MarcusAu

Looking at this weekly chart, we can clearly see that DJIA is moving in the intermediate Wave C. This Wave C is the final component of a larger primary Wave 4, which could bottom out at approximately 23000. 23000 is the 1.618 extension of the bottom of DJI's long term ascending channel, therefore opening long positions there should be very safe and profitable....

MarcusAu

For Dow Jones Industrial Average, we're finishing Wave 4 on Primary wave (the dark red lines) level right now. Worst case scenario would be there's still 1 intermediate down wave to go before this Wave 4 finishes, but I think it's more likely that Wave 4 is finished already. On Cycle level (the dark green lines), DJIA is going through Wave 5 which starts...