bkouassi89

bkouassi89 Updated 

The rule of alternation in wave 2 and 4 is still questionable with bitcoin. This coming week we could see a rally to $11,600s. Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets....

bkouassi89

As I mentioned weeks ago, a major correction is now taking place. So far, signs of a ABC zigzag are showing and if that is the case, we are only riding wave A at the moment. Wave A is a 5 wave impulse and I will take profit at the end of the 3rd wave before the retracement. What may happen this coming week? We may see a small pull back to the 1.2224 level but it...

bkouassi89

Bitcoin reached the $9700 level then dipped to hover around the $9200 level. It is still debatable if the rule of alternation between wave 2 and wave 4 applies to bitcoin. We will assume it does until proven otherwise. Corrective are bitches. I like to stay out when they initially develop. If wave 2 was a zigzag, therefore wave 4 could be a triangle, a double or...

bkouassi89

Price came back down and retested our previously buy zone near the .786 fib level to finally complete a zigzag in wave 2 of 1 of 1 of 3. We could finally see a break of the $9,174 this week. Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe...

bkouassi89

Corrective waves are bitches, ain't they? They take most of your profit if you get in at the wrong time. As I mentioned in my previous analysis, Bitcoin is on a bull run. Me personally, I trade long term so I like trading everything above minor waves. We are in wave 2 of 1 of 3. The correction is not over yet. It looks like a double zigzag is still in play. If you...

bkouassi89

As I mentioned in my previous analysis, wave 5 of 5 has ended. Then followed a 12345 to the downside which is wave 1 of the A of ABC. Corrections are bitches. I was anticipating a small correction for wave 2 of A but the market once again showed who is the boss. A potential zigzag or flat is still developing so the bulls are still in control. The green box may...

bkouassi89

The wave 2 of 1 of 3 just ended. Without being extended, we are looking at around $16,587 for wave 3 of 1 of 3. Time is not taken into consideration in my analysis therefore the projection may happen sooner than the period over which I laid the chart out. It was projected based on the 1.618 fib level extension of wave 1 of 1 of 3 and added to the low of 2 of 1 of...

bkouassi89

The wave 5 of c is complete and an expanded flat is on the way. THE GOOD NEWS?? wave 3 is officially started which means we are in a bull run. Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY...

bkouassi89 Updated 

Unlike my previous analysis on ETH, after another look at the chart I finally concluded we were not in a triangle but a double pattern correction. The end of the correction is near. DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.

bkouassi89 Updated 

It looks like wave 4 of c is complete, if not is about to be complete and therefore wave 5 of c is on track. Hopefully wave 5 of c won't be extended. DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.

bkouassi89

The EUR/USD has started the process of a downtrend last week. Wave 5 of 5 has been completed unless an extension takes place which at this point is very unlikely. I'm bearish. My first target is the 1.1787 level. DISLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.

bkouassi89 Updated 

As I mentioned earlier, the area to watch is the $7k-$8k range. It looks like wave 3 of c has completed. I have adjusted the end of wave c and wave 2 as well as the parallel channel. It's not a bad idea to buy now but I'd rather wait for the retracement of wave 5 of c. DISLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.

bkouassi89

Unlike its brother which cycle correction was a ABC zigzag , Ethereum's primary correction happened to be a triangle. I could be wrong, but so far the coordinates of the waves of the abcde triangle match almost perfectly the .382 fib ratios. If this corrective pattern works out, we should be watching for a breakout of the triangle after wave e completes. Let's not...

bkouassi89

The ABC correction is definitely nearing its term. Wave 1 of c is complete. 3 more waves and it could be fireworks. Fingers crossed. I won't pinpoint the exact price the reversal will occur since corrective waves are bitches. Buy area to watch for is the $7k-$8k range or whenever wave 5 of c completes.

bkouassi89 Updated 

We are possibly in a zigzag formation for wave 2 before wave 3 starts

bkouassi89

The EURUSD pair has finally reached the end of a long-term rally. A downtrend is now taking place