A simple grasp of the ABC move here the wicks are big under current 4hr chart
rounded bottom bitcoin wil climb back up steeply to fill the cup and beyond
btc correction is over if it can break out the necklime of this slanted IHS Primarilly want to say its guaranteed to return there
the main premise is thaat EIA has forecast supply demand balance the ew is HS into triple combo wave and looking to recovery abc towards equilibrium levels on the weekly here shown daily candles with 72 ish TP before resuming bullishness
I see that in the last 2 major tops in Corn futures had significant pops at the .786 fib retracement and never completed the H&S to baseline and my premise is that its baked in inflation and it will happen again truncated descent right here. Its in a wedge descending to a narrow point and ready to meander upwards steadilly or pop I also think food prices and...
Summer AC consumption and exports will drive price up as global warming hits harder and harder and LNG goes online globally
BTC to 70 call currently its been parabolic. I expect a pullback of 7% in overbought now and great buy around 39k hold to 70k with rising stops suggested
After having formed a clean textbook Head and shoulders BTC dropped also in texbook fashion while moving latterally in confluence to moderate recent near parabolic gains and it may correct more. Theres a good chance a mega phone pattern may emerge here offering a good trading range and providing direction. The whole macro chart is in a huge cup n Handle pattern...
4 hr MA cross in play return to trendline in play Higher highs disqualifying trade
Multi year range in White dotted lines since 2014 Blue dotted lines indicating the distance of the drop from top to bottom which ocured in 2014 The thesis is weakly supported ,unsupported by fundamentals which are decided bearish posited on the premise of short covering rally in grossly oversold conditions for starters and longer term LNG exports going forward
Nat Gas will rebound here or the current bullish trend will be cancelled and the wave count will resume into a bearish impulse scenario and recent bullishness relegated to an A B C D type correction wave status If Natty can breach the trendline due to heavy summertime Heat related consumption as indicated by the bullish EIA report on July 18th .. going forward...
Trendline ..EW...analysis A long here on a suspected strong Inverse Head and shoulders pattern emerging Prediction is that tp will hit Jan 5th or 6th into a correction of .5 on that leg of the correction EW wave
long natty if it breaks 2.95 scalp on short to 2.45
bassically bearish here showing an explosive right shoulder to create a nive IHS macro Primary shit is impulse reversal wave to bull instead of being a mere corrective wave Likely set up with higher than average ac ussage in the mix coming up for next weeks real draw related upside ... Then a sharp drop as the fall bear volume kicks in likely scenarios are...
h & S pattern plus a custom trend line that takes out some of the extremes is at hand here Have the waves and the trendline and the zones and the hs inverse here
I am following the longer curve with some tr5end line median adjustment for excessive highs in January My other models are extreeme short