cultureofwoods

cultureofwoods

Just thought I would post this slightly contrarian view. The 0.382 retracement of what I think is wave 3 of 3 is around $85K and this is where many analysts are expecting price to go. To be fair to them, this would be the normal pullback target. However, two things go against this argument. First, wave 4 of an impulse does not usually fall below the wave 4 of the...

cultureofwoods

My thoughts on ALGO by way of update from last chart. The SOS failed to hold the purple zone so probably wasn't the SOS; that is likely the next move before a more shallow re-accumulation range in the purple box. True bull run starts from there with various pit-stops along the way. Based on current price action, minimum target is $6.9 but I a believe $15 will be...

cultureofwoods

Looking at this chart objectively, it is currently in a lifelong downtrend and we should now expect a rapid and sustained decline to around 13-17% from where we are now in a wave 3 of 3. This changes if dominance exceeds 63.32% or if the next move down doesn't reach the 1.618 extension and starts to look like the C wave of an ABC correction of an uptrend...

cultureofwoods

Recent strong sell-off is bearish IMO and prompted a re-assessment of the chart. Discounting the 2022 wick, this chart becomes a giant ABC on the way to zero. Wave 3 of 5 in the C wave of this pattern looks complete, so one more move up to go before getting out and never coming back if you are invested!

cultureofwoods Updated 

I have been meaning to post on MLN for a while. It is a small market cap but a really great project IMO. It essentially is trying to democratise fund creation so that anyone can create a fund that others can invest in. This is a major part of moving from the ponzi that is most of defi currently to something sustainable and I think it has the potential to become a...

cultureofwoods

I think AGLO (and many of the larger cap alts) has completed a B wave correction of a larger ABC and is now going to move up in five waves for a the C wave. Overall, the move up is likely a B wave and we should then see a return to the range lows for wave C before ultimately heading higher - probably early next year

cultureofwoods

This is an interesting chart. I don't think it is anything like charting stocks but there is a clear linear trend channel/line that M2 supply has been following. It is supposed to follow GDP growth to stabilise inflation but we all know the Fed doesn't always get it right and the two yoyo about the trendline. However, what is interesting is that we have had the...

cultureofwoods

Still tracking this wave 4 correction as part of wave 3 of the expected final move up for COIN. I am following a leading ABC structure and anticipating a little more downside before it is complete. My target is $287.60 but it could go significantly lower or be complete already. Next target once this correction is done is the ATH

cultureofwoods

This is my take on IOTA, another OG project that everyone loves to hate but it's recent price action has shown that someone is very interested in it; if it's not retail, it is likely institutions. Like XLM, ALGO and XRP, it has a beautiful chart showing a long-term accumulation pattern. Price targets are hard to predict at this stage because we are still in wave 1...

cultureofwoods Updated 

This is just a zoomed in version of my previous chart to show the lower time frame analysis that I am tracking at the moment. Wave counts are always difficult I think when price is moving so impulsively. However, the most obvious move in all of it is this recent downside flush, which has created a perfect ABC correction. These almost always mark the end of a wave...

cultureofwoods

There are many ways to interpret this chart but I am viewing it as a high time frame ABC from the launch price, which is extremely bullish long-term. Given that Algorand is currently a key part of the planned quantum financial system, together with XLM, XRP, IOTA and XDC (all the biggest gainers in this recent run up), I think this is the most likely...

cultureofwoods Updated 

I think COIN is about to leave the station for wave 3 of 5 of this HTF move. I was waiting for $248 but I don't think its going to happen. Instead, it looks like a leading ABC that barely touched the 0.236 retrace. I think BTC is about to make a move above $100K and COIN will follow into the euphoria. Target for next impulse is over $1000. I will enter now and buy...

cultureofwoods Updated 

This is a beautifully structured chart with the asset climbing the stairs to a new all time high in perfect order. It seems it is loss making but I guess the market doesn't care and is pricing forward many years or maybe just desperate to get crypto exposure without the risk of getting into the ecosystem itself. Either way, it looks like a buy now for minimum $45...

cultureofwoods

To be honest, I have no idea what BTC is doing right now. I think it makes more sense to me to explain it as a series of advancing corrective waves with the main move up yet to happen rather than bearish price action. This chart is my best guess but please take it with a grain of salt!

cultureofwoods

Got asked to do this one so here is my take. Not bullish long term IMO - it is in a downtrend - but still a corrective move could take it close to the previous ATH as per the chart. Not trading it myself but good luck to anyone who does!

cultureofwoods

Still tracking the final move (5th wave) of BTC wave 3 of 3 of 5! Wave 2 appears complete with some very choppy price action to flush out the longs mostly and we should be in wave 3 of this move up; I am expecting it to be pretty impulsive for it to achieve the expected targets given that the first move has been very shallow... $107K seems reasonable from here...

cultureofwoods

Still tracking the final move (5th wave) of BTC wave 3 of 3 of 5! Wave 2 appears complete with some very choppy price action to flush out the longs mostly and we should be in wave 3 of this move up; I am expecting it to be pretty impulsive for it to achieve the expected targets given that the first move has been very shallow... $107K seems reasonable from here...

cultureofwoods

Weird price action and this is the only way I can make sense of it...