UnknownUnicorn12250317

UnknownUnicorn12250317 Updated 

Hi traders! This is probably an unconventional count on the QQQ, at least I couldn't find it in the Elliott wave community so far. This count is strictly based on Fib ratios. In this approach, we only consider waves that precisely abide by certain ratios. If a wave doesn't fit into a ratio, it is part of a different wave, and we adjust our count until waves...

UnknownUnicorn12250317 Updated 

Hi traders! Bitcoin has surprised us with an strong impulse to the upside, so that we can adjust our wave count accordingly. Where are we now? Most traders will happily buy into the pump, but we have some warning signals: + There is no volume in the beginning of the impulse, only at the end. This suggests fomo-buying by weak hands and not substantial...

UnknownUnicorn12250317 Updated 

Hi traders! According to our EW count the end of Bitcoin's correction could be near. Where are we now? Our last short has worked out perfectly and on Friday we have completed 5 waves down. We can interpret this 5-waves move as a larger wave (i). In this scenario we still have 2 more large motive waves down, likely sub-30k. This is the bearish scenario,...

UnknownUnicorn12250317

Hi traders! The violent selloff in Gold gives us a nice opportunity to look for a potential reversal. What happened? Gold has completed a larger Wave 1 with 5 subwaves. Many traders who believed this to be a wave 3 got caught by surprise - their liquidated longs may have contributed to the rapid crash. Where do we go from here? Since we can count an ABC...

UnknownUnicorn12250317 Updated 

Hi traders! VET gives us a very clean chart with a short opportunity at hand. How to trade it? According to the bearish EW count we are in the beginning of a wave 5 down. The wedge breakout gives us an entry level in case price comes back to re-test it in a smaller ABC correction (red box). Where do we go from here? Let's assume that the current wave 5...

UnknownUnicorn12250317

Hi traders! BTC made a stunning recovery. The media was quick to give El Salvador credit for the pump, so let's call it the El Salvador recovery - even though we have no clear idea when their central bank will begin to accumulate Bitcoin. What happened? We can assume that this was a major short squeeze, and more SLs are to be expected right above the upper...

UnknownUnicorn12250317

Hi traders! ETH is not doomed, however the bearish scenario continues to unfold as expected. The good news is, after this correction (which may lead us below 1800) we can expect the bear market to come to an end. Where are we now? According to the count, we are in the first large wave down. We have one more 1-5 subwaves to complete this wave. Afterwards, we...

UnknownUnicorn12250317 Updated 

Hi traders. It is the second time that ETH has fallen back into the triangle. This is not a good sign at all. On lower timeframe we see that the moves down are impulse moves. So, where do we go from here? On a larger timeframe (4h) we see that a larger ABC makes perfect sense - 5 waves down, 3 up, and again 5 down. I have marked this in red. If this scenario...

UnknownUnicorn12250317

Hi traders. Apple appears to have made a top and prepares to break down. What is happening? The green count has completed a wave 5. Wave 3 and 5 are extended to the maximum but fit perfectly into the ratios. If traders interpret the formation as an ending diagonal or triangle, their positions are now trapped because point E is not reached. Make sure to use...

UnknownUnicorn12250317 Updated 

Hi traders. What is happening? BTC seems to be losing momentum on the way to the inverted H&S target, which is also the touchpoint E on the triangle. Particularly the EW count on lower timeframe is out of sync so that we can re-evaluate the scenario. Where do we go from here? It is not unusual that price fails to reach point E, so we can look at the ratios...

UnknownUnicorn12250317 Updated 

Hi traders. In the meantime we can see that BTC is forming a larger triangle, in which we can expect shorter ABC swings. What is happening? As expected BTC bounced from our buy level. A potential inverse head & shoulders pattern is unfolding. If this pattern confirms, we can expect price to re-test the upper trend line of the triangle, because it is also the...

UnknownUnicorn12250317 Updated 

Hi traders! We can see that Bitcoin begins to play out Wyckoff's accumulation schematic number 2 on the 4h timeframe. This is promising for bulls, however we need to be patient as price chops around. What is happening? BTC formed a H&S pattern and then declined in a falling wedge. We can easily identify a target by measuring both the H&S and the wedge. ...

UnknownUnicorn12250317

Hi traders! SPY / SPX is at all-time highs and traders are beginning to short. As we have seen in the Ethereum run-up, this behavior can lead to a short-squeeze fiesta. Ironically, more shorts lead to higher highs, until the very top - from where price finally breaks down for good. Have we made the top? We don't know, so we can focus on smaller timeframes and...

UnknownUnicorn12250317

ARW has seen significant insider selling since 22 May. A closer look at the TA could potentially reveal a textbook short opportunity. What is happening? On the weekly we are able to draw a pitchfork, using the top and bottom of the Covid-crash in 2020. The median line is well respected by price. Elliott-wise we see an extended wave 3. In that case, we add the...

UnknownUnicorn12250317

Hi Traders. Our long entry worked perfectly and brought us above the Pitchfork Median line. This is the most important move for me because BTC has respected this line very well in the past. Where do we go from here? Many traders have identified a wolfe wave pattern. The target is in the area which I have marked with a red box. The 200 EMA daily crosses this...

UnknownUnicorn12250317 Updated 

Hi traders! After yesterday's relief rally we need to see if BTC can continue the upward momentum. As expected, BTC has been rejected by the pitchfork median line at 39600. Price needs to grab liquidity from lower levels to continue higher. Where do we go from here? If the upward momentum continues, we can expect the 1.268 fib target at 42300. How to get...

UnknownUnicorn12250317

Hi Traders! 19 May will be remembered as the Black Swan event for the crypto space. After everyone took a deep breath, the media now begins to flood the markets with FUD and calls for regulation. The mood is so bearish that traders expect at least a re-test of the 30k-35k area. While that is a possibility, it does not mean it has to happen! The worst idea is to...

UnknownUnicorn12250317

Hi Traders! AVAX is probably one of the undervalued L1 blockchains out there. Now that AVAX-BTC is coming out of a Wyckoff accumulation, we can prepare a trade on the USDT pair with higher confidence. What I see is this: + A Tenkan/Kijun crossover and a kumo breakout on the Ichimoku + Demand spikes in the volume, a typical volume signature of accumulation +...