bmadden

bmadden Updated 

Leading Diagonal on Elliott Wave. Wave 1 is 1.618 of Wave 3. Wave 4 crossed over into Wave 1. Because Wave 3 cannot be the shortest of the impulse waves (1, 3, and 5), Wave 5 needs to reverse at or below the length of Wave 3.

bmadden Updated 

The biggest risk to this chart is labeling the leading diagonal as ABC of Wave of 1 instead of Wave 1. If the ABC is in fact Wave 1, then Wave 3 peaked at $1.50 and Wave 5 at $2.50 and the local top has been reached. Not financial or trading advice. Let me know what you think.

bmadden Updated 

What do you think plays out? This is the same for $BTC and most alts right now.

bmadden

WARNING: DO NOT TRADE ON THIS CHART I heard plenty of chatter that BTC formed a Wyckoff Distribution into the dip. Similar to $BTC, I see a fairly neat Wyckoff Accumulation here with $ALGO that may indicate we have seen the bottom. If this holds, we should go "back-up" and flip the resistance into support on a retest. However, I am new to this pattern and it is...

bmadden

This set up goes all the way back to lowest point of Algo on Nov. 4, 2020 following the previous peak in Aug. 2020. Notice the trend since Feb. 12th peak at 1.8585. The dips occur at the cross of the 3/1 (red ). The peaks occur at the cross of the 2/1 (yellow). If the trend continues I see 3 possible scenarios to play out: 1. Algo breaks out in a big way when...