brown_maverick

brown_maverick

Took a harder look at the surge in the price of bitcoin. It turns out we may have a running double three (WXY) for wave 2. W is a flat, X is a zigzag and Y is a triangle. And the end of wave 2 is higher than the end of wave 1, thus we call this double three combination a running variation. A strong and powerful wave 3 should follow next with at least 1.618 of...

brown_maverick

Observe a 5 wave count for bitcoin and I will label it as wave (1). We will be seeing a wave (2) correction, bringing it down to the region of 82 K, as depicted in the chart.

brown_maverick

A big zigzag wave (ABC) with an elongated "C' wave. Let's dive into the 'c' wave. wave 1 - expanded leading edge diagonal wave 2 - retraced 61.8% of wave 1. wave 3 - a subdivided 5 wave counted wave (1) - leading edge diagonal wave (2) - zigzag wave (3) - extended wave wave (4) - contracting triangle wave (5)...

brown_maverick

I observe a corrective wave (ABC) in bitcoin in the move from its high at 109 K. 'A' wave as an expanding leading diagonal as mentioned in my previous post, and 'B' wave as a double three (WXY) with Y wave as a contracting triangle as depicted. 'C' wave as an impulsive wave with a 5 wave count. Note that the ratio of wave A and wave C is 1:1 ! I reckon the...

brown_maverick

The move down from Feb 3 looks corrective instead of impulsive. I will label this move as wave 'B" of an expanded flat (ABC). In the short to medium term, an impulsive wave 'C" afterwards will bring bitcoin to 103 to 108 K region before heading down.

brown_maverick

Gold and gold miners have been on the uptrend since Oct 2022. I would label the rise as the 'C' wave of a larger expanded flat (ABC), red label. The correction from Oct 2024 to Dec 2024 is labelled as wave 4 of wave C. As it is widely known that C wave consists of 5 waves, with the overlapping of wave 1 and wave 4 as depicted in the chart, I will label this C...

brown_maverick

The past week has been a tumultuous and volatile week for bitcoin, with Trump imposing tariffs and then having a 30 days' tariffs reprieve for both Mexico and Canada. Who knows what is going to happen next ? I would label the volatile movement as a expanding leading diagonal. wave (1), with wave 5 overshooting the line from waves 1 and 3 and then retracing back...

brown_maverick

A highly probable expanding triangle has just been formed as the 'B' wave of an expanded flat. The "C' wave should drop to the region of strong support at 74,000 that I see as a good buying opportunity.

brown_maverick

I would label the rise of the Nikkei 225 since 2003 as a wave (B) of an expanded flat (ABC), in which the wave (B) consists of an expanded flat (W), an expanding triangle (X) and finally, a zigzag (Y). I personally think there is sufficient wave count , or close to finish the zigzag (Y) pattern. The impending wave (C) does not bode well for the global financial...

brown_maverick

Relook at the USD SGD chart. The movement of the pair has been bounded between 1.3 and 1.45 for the past decade. This limited range and its pattern suggested that the pair may be in the "e'" wave of an expanding triangle as depicted in the chart. We are looking at the 1.5 region before heading down again.

brown_maverick

An ending diagonal is in sight as depicted in the diagram. A steep decline should be expected in the coming days to the region of 85,000 USD. This region is 0.382 retracement of wave 3 as well as the starting point of wave v, beginning of the ending diagonal.

brown_maverick Updated 

As depicted in the chart, bitcoin is currently on the path of completion of a fifth wave (5) of an impulsive wave. My target price is in the region of 103 K USD, which is 2.382 of the extension of the wave (1). We should see a correction once the target price is reached. I will do an update of the macro count later when bitcoin reaches the target price.

brown_maverick

As depicted in the chart, Bitcoin is now in wave (ii) of the third wave extension of third wave extension. We should see an upsurge in the price of bitcoin relatively soon. My target price is in the range of 95 K USD, which is labelled as wave 3 before we see a correction to 80 K USD (wave 4). We shall see !

brown_maverick

China unveils fresh stimulus to boost its ailing economy by cutting reserve requirement ratio and lowering interest rate, following the footsteps of Federal Reserve, on Sep 24. China and Hong Kong market rallied after the announcement. I re-looked at the chart of FXI and contemplated that FXI should be now in the 'b' wave of a larger W-X-Y (double zigzag)...

brown_maverick

Federal reserve just cut interest rate 50 bbps for the first time in four years. But I am still bullish on DXY. I observed a double three pattern, a zigzag followed by an expanded flat as a corrective wave 2 as depicted in the chart. Let's see if DXY can follow up with a i, ii setup.

brown_maverick

In my previous post, 28 Jul, I mentioned bitcoin has reached the target price of wave 5 of the impulsive wave and about to undergo a corrective wave (abc). It was since then drop from 70,000 to 62,400 within the past few days. I will reckon this drop as wave a of the corrective wave 2 as illustrated in my previous post and update in this post. It shall embark on...

brown_maverick

In the 1-hr chart, using a semi-log scale, bitcoin has completed or about to an impulsive 5 wave count. I will label this as wave 1. It can be seen that this sub-wave 3 of wave 1 demonstrates the strong acceleration relative to sub-wave 1 and 5. It clearly shows a third wave extension of third wave extension in this instance. One can draw a trend line connecting...

brown_maverick

A running double three (W-X-Y) was noticed on the USDCNY chart. A minimum of 2.618 times of wave 1 from the end of wave 2, (end of Y) will be the next target price for USDCNY at 7.54. The target price can be higher, it all depends on how the impulsive wave 3 unfolds. wave c of the running flat (abc) of wave Y, may stretch further but it has sufficed a 0.618...