Stoic-Trader

Stoic-Trader

The gray ascending trendline was broken and served as resistance for a correction, which reached 50%. I'm strongly biased to the downside, for a test of 0.0846 low (purple line). Invalidates above 0.1700 (pink line).

Stoic-Trader

After a 50% pullback for green X, the blue WXY correction should target the 100% extension of the green WX leg. This would lead to a test of 8.970, which also matches a support zone from August low. The lack of RSI divergence also supports this scenario. Invalidation is above 13.700 (pink level in chart).

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Zoomed out to the weekly chart to get a better understanding of price action. In my primary count, we are in a leading diagonal which is currently in black A of gray 5. A pullback for black B will let us look for long trades, initially targeting gray 3 high at 1.2289.

Stoic-Trader

My primary wave count considers SUI has finished wave 3 with an ending diagonal, and we're now in wave 4 correction. The 38.2% pullback has a solid support level, but ideally I'd like to see a test of 50% pullback. Considering wave 3 was extended (over 200% of wave 1), wave 5 will probably not go much higher than 2.3680.

Stoic-Trader

In the daily chart, we finally got the end of the downtrend with a full wave count. We now seem to be in blue wave 3 of an impulsive wave to the upside, and green resistance could offer the barrier to trigger blue wave 4 correction. Price is way overbought and I´ll only look for long trades after corrections.

Stoic-Trader

In my primary count, ARKM is finishing black wave 4. I give this scenario a 70% reliability. The count is valid and there is no bullish divergence on wave 3 low. Also, there is no overlap with wave 1. On the other hand, wave 4 is quite longer than I'd expect it to be. As long as we stay below green resistance, I'm bearish for another leg down targeting 0.750.

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Green support seems to be holding price, and this could be black wave 2 in its final stages. Even if this is a corrective move to the upside, I still expect another leg up, possibly targeting gray resistance (around 0.15). Invalidation is at the previous low of 0.06130 (pink line).

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The sequence of green abc patterns gives me the leading diagonal as my primary scenario for PEOPLE. In this case, we would see another higher high targeting the upper trendline of the ascending channel, around 0.095.

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I haven't changed my overall bullish analysis for CRV, but in the short term we should see further downside for CRV. The 100% extension from green waves a-b is a high probability target. This would take us close to 2.00. Right now the bullish trend would be regained on a break of 0.32197002 (wave b high).

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After breaking and retesting the gray support level, price is in a strong downtrend which doesn't seem to be over. There is no RSI divergence, a higher high or clear bullish price action to justify long trades. Therefore my expectation is that the downtrend will continue, initially targeting recent low (at 0.1448) and the 100% AB extension (at 0.1106)

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After completing the green abc correction, DIA seems to have finished waves I and II to the upside, and we could see a solid rise from this level.

Stoic-Trader

I expect further downside on the next few weeks for Ethereum, for the completion of blue Wave C. Note that there is very strong support in the 2500 region (blue zone), so I'll be watching price reaction closely if it reaches that level.

Stoic-Trader

Bitcoin's price is facing strong support in the 60500 zone (green). This matches a wave count considering green wave V is wrapping up and bullish RSI divergence is present. Therefore, in the short term, I expect BTC to recover some value. The 50% - 61.8% zone (between 63150 and 64000) is an interesting target for this recovery.

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The upside from my previous analysis played out as expected and price reached the 2.9 zone. In my primary count, the downside movement from the last few days is blue wave 4 correction, which is subdivided by green waves a-b-c. The 50% pullback level, at 1.9982 is a zone of interest to look for reversals for another leg up. The impulsive wave thesis is valid as...

Stoic-Trader Updated 

I'm expecting another push to the upside after the bolue ABC correction. My entry is the 50% pullback of the 1st leg up, at 0.0642, with 2 partial targets and the final target in the recent pivot high at 0.70.

Stoic-Trader

Things are looking nice for XRP with the completion of the blue ABC correction and the break of green trendline. In the short term, I'm considering that we're in the final stages (green V) of the first uptrend wave (blue 1). A correction (blue 2) to another retest of the trendline would give us good value for long trades.

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The grinding upside from the last few days is beginning to show signs of a reversal. I'm considering that we are finishing up blue wave B, which would take us to further downside for wave C. A break of the 3.551 level is my confirmation for the end blue wave 5.

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We may have seen a bottom for APT at the Aug 5th low of 4.32. In my primary count, we are currently in blue wave 3. The resistance level at 11.00 is a good target for black wave 3. I will be looking for long trades on corrections to the downside.