cryptcowboy

cryptcowboy Updated 

We are approaching the end of an 18 month correction in the dollar thru what is most likely an ending diagonal in wave c of larger B . The .786 fib level is at 100 so another push into those levels should prove fatal for the greenback. Watching in here for price confirmation, but once it comes it should be pretty swift. Most of the other currencies should benefit...

06:19

cryptcowboy

We have signs of a possible completed corrections. I present the case for the next advances.

cryptcowboy Updated 

Since my original post was banned do to braking house rules , here is an update on that post. ZRX has more then reached the target mentioned in my video. Check my Bio for the link. When it comes to triangles the way we measure the thrust matters . Its one of the most powerful trading patters out there. Learn to recognize it, respect it and trade it correctly.

cryptcowboy

Bitcoin is not giving us a whole lot to work with just yet but we continue to follow the idea that a major corrective low might have been reached at this point. For more confirmation the market needs to start staging rallies and get above the notorious 9300 level. The rise from the lows is not fully impulsive yet, and we can count the rise as an abc instead of a...

cryptcowboy

Since my idea from 10/10/19 was hidden/banned do to apparently violating house rules on links here is the original post. We are still following the wave 4 triangle . The impulsive rise of the wave 2 lows has all the characteristics of a 3rd wave price action. I am expecting now a longer consolidation in a 4th wave triangle followed by a thrust in a 5th wave to...

cryptcowboy Updated 

I am presenting here a secondary count that says that we are pretty much done correcting , by having the Y leg of the larger WXY as complete thru a clean abc pattern. I would now like to see on smaller time frames ( 1h, 3h) a clean 5 wave advance of the lows that would constitute the 1st leg of an upside move. Above 9300 my confidence will increase significantly...

cryptcowboy Updated 

The price of bitcoin has made a new low and we are approaching the 7500 levels. The script is unfolding for now according to the proposed structure and we are on the lookout for signs of a completed corrective pattern. The area between 7500 and 6500 is layered with multiple fib, trendlines and previous price support from may/june, so it should constitute a battle...

cryptcowboy

What are the most common fib levels we look for when analyzing wave patterns. Along with the 5 basic Elliot Wave patterns comes the relationships between them thru the Fibonacci numbers. I talk about all this in the new video youtu.be For more detailed charts, discussions and Elliot Wave learning , visit us at t.me t.me

cryptcowboy

Bitcoin finally gave up to the pressure that was building in the triangle for the past couple of months. The break of 9300 proved fatal to the bullish count. One of my alternate counts was showing the possibility of a break lower to complete the larger wxy correction towards 7500 levels. If those exact levels will be reached remains to be seen, but we are now on...

cryptcowboy Updated 

Almost 3 months after bitcoin hit 13,750 , we found ourselves still wondering how much longer before the volatility picks up and we start moving with a more sustained conviction. We are testing once again the lower boundaries of the clearly visible triangle, hanging on by a thread with implications towards the next leg down at 7500. 9300 is the next area to watch...

cryptcowboy

With the latest bounce today bitcoin is making it difficult to hold onto a bearish count near term, confirming somewhat my latest views that we are close to a completion in the correction phase. I am adapting a slightly different perspective here where I still allow a rise above 11k to complete an X wave in a triangle before we embark on a Y wave down to fully...

cryptcowboy Updated 

With the recent drop in dominance, bitcoin is struggling to get a firm footing and is lagging badly in the latest altcoin advance. The count remains unchanged at this point but if the weakness persists I would not be surprised to see bitcoin take another leg lower. If the 1,2 1,2 count is to remain alive we cannot go below 9800. Not only that but we need to see a...

cryptcowboy

Price action in bitcoin continues to be anemic which usually means that we should get a big jump in volatility soon enough. We are converging towards the peak of a triangle with price slowly getting squeezed into a corner so an explosion is bound to happen. Question still remains which way that will be. I have counts that are prepared to handle both and while that...

cryptcowboy

Price action in bitcoin continues to be anemic which usually means that we should get a big jump in volatility soon enough. We are converging towards the peak of a triangle with price slowly getting squeezed into a corner so an explosion is bound to happen. Question still remains which way that will be. I have counts that are prepared to handle both and while that...

cryptcowboy Updated 

Bitcoin pulled back a bit since my last update but is not giving us enough just yet to make a solid assumption about the upcoming direction near term. However, the overall idea remains that of a thrust higher towards 20k at the end of this correction into a wave 5 or a larger wave 3. Until we get there , we might have more wood to chop with one of the counts...

cryptcowboy Updated 

Bitcoin is trading in a narrow range slowly advancing towards the end of the 2 1/2 month correction . The interpretations here remain multiple and it makes the choice of one count over the other that much more difficult. In situations like this we simply have to wait it out and have the market give us signals that is ready to get something going . The way that...

cryptcowboy

Bitcoin continues to play around and basically juggle traders as it pleases without having direction. Its a perfect environment to lose money in notorious complex wave 4's . The moment you become convinced a move starts it goes in the other direction, same idea goes for triangles. My neutral stance on bitcoin for a while now helped me keep my sanity and I hope is...

cryptcowboy

Bitcoin cracked a little today sending some early signals of a continuation of the proposed correction since mentioned on the June 27 update . The idea remains that of a complex pullback in a wave 4 or 2 of larger degree, followed by an aggressive rally to new highs. Not posted on this chart but rather in our regular Telegram updates , we have the time ratios...