ewmarkets67

ewmarkets67

CRYPTOCAP:BTC has completed a 5-wave sequence for Wave I. It's now in Wave II consolidation. 50% retracement is $59,540. $61.8% retracement is $57,880

ewmarkets67

CRYPTOCAP:BTC low is in. We won't see $57.5K again -- until the next bear market.

ewmarkets67

Pull back can be 38.2% to 61.8%, or $59.8K to $58.9K. When this small pullback completes, 3) of 3 should commence.

ewmarkets67

We can count 9/6 low as the end of the multi-month correction. It had 7 large waves starting with the high of $73K. An uptrend began on 9/6 and has completed a small 5-wave sequence 1)-2)-3)-4)-5). Now, we're in Wave 2 consolidation. When this Wave 2 ends, Wave 3 should be unmistakable.

ewmarkets67

The abcde Wave 4) correct seems more fitting. Afterward, Wave 5) is to take us to $60K+ at the upper channel line.

ewmarkets67

Looks like CRYPTOCAP:BTC has completed a small 5-wave sequence from $52,530 to $58,600 and is pulling back for Wave 2. Expect this pullback to be confined within the green up-sloping channel.

ewmarkets67

BTC Needs to reach $54,800 today to get back inside this down-sloping channel. BTC Needs $58,300 to break out of this downsloping channel to the upside.

ewmarkets67

This BTC fork is still holding but barely. Friday's job number may decide up or down.

ewmarkets67

Holding long through a downward-sloping channel creates stress for longs. Let's see if this fork serves as a support for forming a new upward-sloping channel. There is also a small positive RSI divergence.

ewmarkets67

Wave IV didn't complete at 53,500. The C wave extended. The first two legs of the C wave has completed. Now we're in the last down wave of Wave C.

ewmarkets67 Updated 

I count BTC as having completed Wave III. Wave IV is an A-B-C consolidation that ended at around 53,500 on July 5, 2024. We are now in Wave V up. We have completed Wave 1 of V and are now in Wave 2 of V consolidation. Wave 2 of V might have ended today at just below 200 DMA or it might end at 61.8% retracement level at 59,850 ish, or it may drop to the bottom line...

ewmarkets67

ETH appears to have completed a Wave IV correction. Wave 5 has already made a new high. It still has upside until the next resistance area is reached.

ewmarkets67 Updated 

Minor Wave 5 of Intermediate Wave III of Major III of Primary III seems under way. Wave III is the strongest wave of a 5-wave impulse. I expect Minor Wave 5 to make a new ATH. Similarly, the eventual INT V, Major V, and Primary V will all make all time highs. This thing has a lot higher to go before the Primary V finishes and a bear market ensures. Disclaimer: All...