ShounakShetty

ShounakShetty Updated 

Introduction to Bureaucratic Systems 101: The market has been super bullish the past month due to the anticipation of Bitcoin ETFs. Everyone believes that 10th of August is gonna be the day when SEC decides on the approval or rejection. Well that's not how bureaucratic systems work. The hearing might just keep getting delayed. After the first hearing concludes,...

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Technicals : NEO has been stuck in an ABCDE triangle correction for the past month. But the recent price action does not inspire confidence that we will be going up for that Wave E. I would have preferred to see the reversal that we saw at Wave B. Eventually support will have to give way. From Elliot Wave stand point, Wave D has a high probability of a breakdown....

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Technical : I'm confident that Wave iii has just ended. Because the last wave up was an Ending Fifth Wave Diagonal which led me to believe that the wave has to be a 5th Wave. I see bearish divergence on higher timeframes. Not to mention the overhead heavy resistance leads me to believe that upside potential before a correction is very low. Whereas towards the...

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For thousands of years the old sages have been warning us that Winter is coming and the Bears (Dead) shall walk this earth again. All the Bulls like Eddard, Catelyn, Robb and Rickon paid so attention to them. We know how well they fared. Now for the short term we are gathering every living sword to the North at the Wall. But our chances of stopping the walkers...

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As we can see, OMG has been stuck in a falling wedge and seems to me like an ABCDE correction. Rules of ABCDE correction dictate that there's a high probability of a breakout at termination point of Wave D. Lets not forget that there are not one, but two airdrops incoming for OMG in the near future. In short: We have Technical and Fundamental evidence to support...

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Now for the Final Wave, targets are in the range of 7k-7.4k. We can clearly count 4 waves so far. The most recent wave was a triangle correction. But the volume is off the opinion that we are losing strength. That seems right given that we are counting the 5th wave. I expect a correction after these targets are hit. Corrections are healthy, they are nothing but...

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Do you think targets of 5k and 6k are easy? Well then my friends, you need to read this. On 12th April 2018, many saw the squeeze coming but paid no heet to the clear signs. Guess what happened to them? BTCUSDLONGS and BTCUSDSHORTS are almost at a 1:1 ratio. That means this is the perfect opportunity for whales to step in and create a squeeze. That...

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The Elliot Wave Count I'm presenting shows higher probability. I've spent hours counting fractals of sub waves of sub waves of larger waves. Wave 4 correction of larger Wave C has completed. Some may argue that Wave 4 has breached Wave 1 territory. But the rule gives an exception, "Wave 4 never enters the price territory of Wave 1 (in highly leveraged markets you...

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There's a very lucrative opportunity walking around in your neighbourhood. Now are you gonna be the one who waits patiently for it to knock on your door or are you gonna be the one who grabs it by the collar and reels it in? Now on to the technicals: Since BTC broke a major support line that has held for the better part of the year. Now even Perma-bulls have...

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NEO, This is your last chance. Will you take the blue pill (happiness and security for all) or will you take the red pill (brutal truth with a side of swing short trade). The hour is upon us. If NEO decides to take the blue pill then targets would be $100-$140. On the other hand, if NEO takes the red pill then we stay in wonderland and I show you how deep the...

ShounakShetty Updated 

Indicators are signalling a buy and it is following wave pattern by the book. This could be a great hold for the month of March. All time high still looks unlikely but lets see how the trade progress. If wave 3 ends up being longer than predicted then wave 5 would get us to All time high. Profit potential for hold here is 75%

ShounakShetty Updated 

After going through the chart at depth, I strongly believe the 5 waves have already materialised and further correction is due. I found textbook fib retracements for all my waves. 4h MACD shows a bearish crossover. However the future track of NEO will largely depend on how BTC performs. We shall get confirmation that we are in a Sub Wave 3 if the right shoulder...

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GTO has in the past, breakouts after RSI reaches the oversold point. This has happened time and time again. We have also found support on the 0.236 fib. Many would argue that it is not a fibonacci number nevertheless it has found support here yet again. Now the question remains whether GTO will play ball. If you're joining this trade then aim for the 0.618 fib...

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It is going according to my elliot wave chart update posted at We are also breaking out of a bullish triangle. This run is gonna be very profitable. I'll update the targets once we reach Wave 4. Wave 3 might be longer than predicted.

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OMGBTC has been following a clear cup and handle pattern. We should expect a break out soon. Also not to mention OMGBTC is at a discounted price of 1390 satoshis. I've been holding since 1645. But I really hope you guys can take this opportunity. I'm expecting the price to bounce all the way to 3290 once the initial breakout commences. Buy around - 0.001390 Sell...

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I'm expecting a slight correction before breaking out. Indicators confirm that we will be in a downtrend for the next few hours. Next few hours will be crucial.

ShounakShetty Updated 

We are on Corrective Wave C. Expect a short drop followed by some sideways consolidation before the next leg up. So far it has been doing exactly as the waves predicted.

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Hope this helps