fxfabianng22

fxfabianng22

From what I had last week about the BTC, I have noticed that the market is potentially forming an extended 5th wave structure with a smaller degree 5 wave sequence (in blue) on the major 5th wave (in pink). Let's see if the market will drop after it fulfill the sequence.

fxfabianng22

Will BTC market follow the Elliot Wave cycle which governs the financial market? It has completed the first 5 wave as expected (My last post) and we're seeing the price is stalling at the 1.270 extension (5th wave completions).. I am eager to see if BTC will obey the Elliot Wave rules. If the structure holds, we're likely to see BTC drop down to $3,000.

fxfabianng22 Updated 

Market wave structure is clearly defined. It is chasing off wave 5 at 5200 and bounced perfectly at wave 1 high

fxfabianng22 Updated 

This currency pair has been in a somewhat choppy yearly consolidation range. It has recently broken the long term black down trendline into the buy zone. The question is now, is the consolidation range going to hold? Or the broken down trendline? Market has now bounced off the black down trendline and moving its way up to the near term blue down trendline. Unless...

fxfabianng22

Market has filled the 1.618 extension of the 3rd wave, its potentially going to retrace before further rally..

fxfabianng22 Updated 

Market has completed its 5-3 waves cycle. It has been in a down trend (corrective move) after the 5th wave completion since the beginning of 2017. This market has now also completed the ABC Corrective wave and its ready to form its 2nd wave of the big swing (light green). Also, it has reset the entire rallied after the Trump's victory, and sitting at the same...

fxfabianng22

Market has initially making lower low and lower high until this couple months, its been pulling back to the long term down trendline . When market came close to the resistance, it formed a bearish confirmation at the large down Fibonacci 618 swing (left). Market then took out a low and pull back to the resistance again to form a bearish king crown pattern with a...