Waxy_CottonSwab

Waxy_CottonSwab Updated  Jan 6, 2021

It has come to our attention that BTC is currently forming a bull trap and all personnel are to take immediate action accordingly. While this cycle went well above projections and did not reverse at any major Fibonacci levels, the indicators do not lie, we are burning hot and in the oversold territory with an obvious bull trap right in front of us. The new target...

Waxy_CottonSwab Oct 19, 2020

Like my previous post stated (Giant waves and choppy seas ahead!), I expected the chop we have seen for the last couple of months (white circle). There are two main reasons for this. 1) BTC needs to establish major support around 10500 after breaking out of the multi-year bear cycle we've been in. Now that the market feels confident we've confirmed the break out...

Waxy_CottonSwab Aug 7, 2020

The difference between waves in the ocean and on a lake is that they run at a different frequency and phase when compared to each other. Waves in the ocean are much larger and occur at a lower frequency than waves on a lake and of course, both are either in phase or out of phase at any given time. Well, crypto and the stonk market are no different! We can see the...

Waxy_CottonSwab Jul 31, 2020

Silver has clearly broken out from its bearish cycle indicated by the white down trend line. Based on the last bull run we should reach the 2.618 in about 770bars or approximately 2 years. In the short term, I expect a retrace to the .236 fib over the next few months making October a good time to enter the market at around $18-$19. Furthermore, Rsi and Macd seem...

Waxy_CottonSwab Jul 27, 2020

As I stated in my last post, I hope everyone loaded up before we inevitably broke the downtrend (red line). So where do we go from here? Well, in the big picture, I fully expect BTC to continue this wave dragging the altcoins in its wake exhausting slightly above the previous ath right around 20k (1.618 -blue circle) at the end of 2020. This being said, we will...

Waxy_CottonSwab Jun 26, 2020

Like a long grueling winter, the bear market had us huddling in our homes with the heater on longing for the day the melt comes and summer arrives. Well, the first day of summer has come and gone and summer is now in full swing and with it the return of the bull market. It's the right time and the signs of summer are all there including rsi, nvt, and price...

Waxy_CottonSwab Mar 31, 2020

Similar to the Dec-Jan consolidation and eventual recovery, we may be seeing the same consolidation pattern (1-2 Elliot wave) forming. This should take another 45 days to complete before arriving at the .236 (4800-5000). Coincidentally, my target is also 10 days away from the halving which should induce the subsequent 3 wave and reversal of the bearish trend. Keep...

Waxy_CottonSwab Mar 4, 2020

With the MACD rounding out on the daily and the price bouncing around the major resistance between ~58-63 it's safe to assume this mini ABC correction has completed and now the next Elliot wave can begin. The 3 wave will be quite parabolic and impulsive in nature which means the development of this wave will take some time most likely mooning shortly after the...

Waxy_CottonSwab Updated  Jan 28, 2020

Clear Macd reversal indicates we're starting the formation of the 4 wave that will bring us down to resistance at 7500, which is also the uptrend resistance of this pattern. Great buy in opportunity for anyone wanting to ride the bounce up to 11k resistance before halving. After 11k expect another ABC correction that will take us through to the halving.

Waxy_CottonSwab May 31, 2018

Hi all, Looks like we've confirmed the bottom of the 2 wave with a breakout past the downward trend. Now it's onward and upward to the shoulders right around the .786. This is following my original analysis from about a month ago with a slight adjustment to the 2 wave (it's slightly hard to call bottoms). Keep in mind that there are several lines of resistance...

Waxy_CottonSwab May 6, 2018

We are still in an established uptrend channel with a bounce off the bottom of the channel happening as I type. This hard bounce should cause us to break 10k resistance and shoot up to 11K where we will see major resistance. I believe a breakout past 11k will establish the first wave in this new cycle and confirm long term bullish movement. Breaking 11K will be...

Waxy_CottonSwab Apr 29, 2018

Looks like we will see heavy upward movement soon to push past the right and left shoulders (heavy resistance) with an ABC correction after that. Then onward and upward to 16.5k where will see another correction and hopefully a breakout past those shoulders as well. I'm new to this, so any insight or help would be greatly appreciated.