Swordth

Swordth

200EMA (which has been already faked out 3 times) as resistance. Resistance of long term trend-line. Resistance of rising wedge (Continuation pattern - bearish in a bearish market). 55EMA of volume: dropping volume with increasing price. (Difficult to see on published graph) Stochastic: Maxed out on 1 day chart. How I see it: Correction is due based on...

Swordth Updated 

1. 5 wave down complete. 2. ABC correction up coming, I doubt it will surpass 4th wave down. 3. 5th wave down to occur after a hit at ~$540. 4. The 5 wave down, ABC up, 5 wave down finishes the larger ABC correction that is forming. This structure also forms a h&s pattern with the previous resistances at $540-$550.

Swordth

Seeing a nice 5 wave upward trend on our current bull run. The 1.618 fib extension is the ~13,000 dollar range, however I don't see us hitting that because: 1. Stoch is oversold. 2. OBV is falling 3. We haven't broken wave 3 high yet, and I don't see the volume for it. 4. Bears are probably hungry to push us back under the major resistance line. Instead I see a...

Swordth

This 5 wave impulse wave structure so far is TEXTBOOK. It's actually kind of beautiful - but will it finish beautifully, or will we see a failed 4th wave? A failed 5th wave? SHORT TERM: 24 hour outlook still bearish as we approach $9600-$10,000 mark. Trendline (~9600) marks ~0.5fib retracement. There is psychological, historical, and EMA support at 10,000, but...

Swordth

The current setup is forming a beautiful 5 impulse elliot wave structure, which is hitting extension points that align with key resistances. Allow me to break it down, as I see it. Wave 1: already passed, Wave 2: corrected very bullishly to the .382 level (fib lines for that not shown). Wave 3 I am targeting the 1:1 extension at ~1100 price point (fib...

Swordth Updated 

Blue: Resistance from Jan 29 onward. Green: Major resistance formed by neckline, which has already been rejected recently. Pink: EMA55: Dancing on a fine line with the EMA, and struggling to get above it. Orange: EMA200 - Also, fighting to get above it. Red: Most relevant support to watch. Quickly coming to the apex of the wedge formed by all...

Swordth Updated 

Simple EW count up (hits fib ratios beautifully on the way up - not shown, and meets all rules & requirements to be valid). ABC correction could be over since we bounced off of EMA200 (Orange) & .786, but this recent rally makes me very nervous because: 1. Forming a rising wedge on the 1D chart 2. About to run into EMA55, which will not act as resistance 3....

Swordth Updated 

We are still deep in the sh-...downtrend channel, facing bear flag after bear flag, dead cat bounce after dead cat bounce. I can't count waves on this with any confidence because there are just too many counts that seem right. In the end all I have is my channel support, channel resistance (green), and my long term support lines (red) that reach back to the...

Swordth

Hitting both the EMA200 and fib.786 level again, for the 3rd time in a year. If we break this, I fully expect a drop down to previous ATHs of ~400, and then recover to the EMA200 within the week. This funny enough, lines up perfectly with the famous "bubble chart".

Swordth Updated 

Previous corrections for ETHUSD saw .786 region being hit & 200ma on 1 day chart being the swing low. I see both a trendline support, 200EMA, and fib support level in the 550-650 region. This is where I'll be filling the last of my buy orders for ETH (most were at the 720-850 region).

Swordth

Initial correction from 1400 to 700s seems to follow a 1-5 impulse wave pattern to the T (Forms A leg of correction). { 1. 4 DOES NOT RETRACE INTO WAVE 1 2. WAVE 3 STRONGEST 3. WAVE 2 FIB LARGE & WAVE 4 FIB SMALL - TYPICAL OF EW (1 BIG 1 SMALL) } B leg of correction is roughly in the retracement area that one would suspect. This creates a resistance line we...

Swordth

Strong trendline support looks to have broken yesterday, and now we are fighting to get above it with conviction. Chart was following a nice elliot wave sequence, but now wave 4 seems to have overlapped wave 1 (failed wave). I need to brush up more on EW analysis to further make sense of this. Overall seems bearish.