As the market continues to tank , forming overlapping waves, not to be counted as consecutive impulse but as an EDT in a big C wave here is the actual update with the deepest allowed extension of the 5 EDT of 409x USD as the 3 EDT cannot be the shortest wave...so be prepared for a low in the iii of c of 5 EDT and a v forming in the c wave which will not make a...
As every correction will find its end sooner or later this setup will arise from our market view making the green price area around 77/78 a brilliant long term long setup. Position yourself accordingly.
As the EDT Count is still viable , but is enfolding much slower than was once projected, we will use this EW-Approach to the BTC-USD pair linked below to seek an entry for a short to the 9k area in what is assumed coming and forming the 3EDT new low......
As we follow our big Pic analysis of the Dax (linked below in our recent analysises) a (IV) wave is needing to somehow find deeper prices. This count in 15min Chart is trying to grab that expected downer as the assumed c of A of (IV).
The ETH call of ours some time ago found a deep c' of iv halting just before the price overlap with the i' ...which is ok with the rest of the Crypto-Verse mostly still bound to BTC taking the second deeper plunge and the markets again get the shivers and weak hands let it all slip away what they promised themselves to hodl and nurture for life...
The long setup we played ended with winning trades for the 2 applied Stop-Loss trailing methods, we caught a nice break-out setup. (see link below) As the bigger red ii-iv-line broke and a 5th wave is not viable with counting the iii as i due to the occuring i-iv overlap we had to change the Count a little bit and come up with something different: One pattern is...
Excourse on EDTs: 3-3-3-3-3.....that's the way it is internally structured and becomes visible after a while and with the first overlapping waves ...the 3 parted waves are forming an 1-2-3-4-5 labelled EDT Overlapping waves which begin to contract in length , where the first 3-part( abc ) wave ,labelled 1, is the longest, and wave 5 is not allowed to be longer...
As we were prepared for what seemed to make the whole Crypto-World scream "Crash" again by our outstanding and persistent Elliiott-Wave-Chart-Work, which we give away for free here on Trading-View , we anounced the coming Downer 3 days before it shook Cryptp-World again while everybody was already bullish from the promising ETH-Hype... Have a look into our...
Based on our Big-Pic View (linked below ) we will go long here with the marked inital SL, for at least a c' of Iv but maybe more...excellent ChanceRiskRatio...
The EDT at the top stayed valid from the moment on the Dax made more than 162% would could also be assumed little c''' down with overshooting b''' instead of EDT at Top... We went short after this extension was overrun,or with the a new low and stayed so...look at linked last Dax Analysis. The market seems to have formed the top with this EDT and no V seems...
As weakness and corrective up-moves still persist in the price movements in BTC-USD, a Crypto-friend just asked me for a big Pic, when I suddenly became aware of what I just then had to call the "line of horror" in the almost forgotten big Pic Count I did a while ago... Just have a look, and see which prices need to be reached if this Count is the actual market...
I think the move of the C can be done here...we seeking long after making 16,4% in our trade of the C down from 15600 to 13400... Now we are lookin' for long as the down move can be counted ending here and a failure v' of V is imminent and visible...
This count is what comes into play staying on course for lower prices in the C down... The up-momentum stayed weak, thus this count was done and provides pretty good argument for going short again on this pair...the Ending diagonal Triangle Count (EDT) from the previous trade idea linked below still stays an option for the LTC bulls...so there is something for...
-LDT forming in end of c' of b- The (L)eading (D)iagonal (T)riangle is not rare as the finalizing/move ending chart pattern in this stock-index. the c wave down is thus estimated to enfold very soon...
Harmonic wave interpretation allowing this pattern to seek even lower prices than reached in the December lows for Dash in a C wave Down.
This is the Count picture after the last little long Trade for a 16 % winning trade from 239 - 278 , and we will seek short entry now to grab the expected C Wave
We are seeking the Short-entry now, as the heat is on, for the expected move to the recent DEC-lows or even lower, following our most recent Counts and Trades on this pair...
I had to come to a new conclusion about the price development of the ETH/USD Pair… So I am sharing what I see in here from the perspective of an E-W Chartist. Looking at the 1h of ETH/USD I spotted so many open degrees in the running wave, that a bullish conclusion made from the enfolding price structure and the whole behaviour during the DECEMBER-Downers at leat...