jackrabbitrage

jackrabbitrage

I anticipate sell-side liquidity at 61-62k (a target of Anti-shark pattern) will be taken shortly. Gray and red boxes indicate support and resistance, respectively.

jackrabbitrage Updated 

The aqua-color boxes exhibit symmetry. I anticipate the blue box is hit unless the LTF bullish momentum is exhausted.

jackrabbitrage

I've incorporated Fibonacci levels and channel analysis into the fundamental market view of my previous idea . The conclusion remains the same: a minor upside to the 0.786 level or the upper edge of the channel here. The target zone is highlighted in an aqua-colored diamond. This is an experiment, but it's important to note that this isn't arbitrary curve...

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Although the probability is low when the price must move against the upper time frame trend, an LTF Bullish Dragon Pattern is potentially forming. Look at the 1H chart. If the current low holds, a rebound may be up to the red box. If not, 51.9k will be the last line of defense.

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My prediction in the previous article has once again proven accurate and remains relevant. However, I think it's time for an update. This time, I have incorporated Gann fans and channels into the analysis. As the chart breaks through a sloping fan and moves into the next, more steep fan zone, the momentum increases. Obviously, the bearish momentum has been...

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My previous analysis on the 4H timeframe was surprisingly spot on, hitting the two targeted green boxes, each followed by a rebound. This chart pattern might look typical for those familiar with my articles. Yes, it's the Bearish Dragon pattern. I detect this pattern mechanically. All the shapes drawn on the chart are done by indicators, not manually placed. As...

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BTC once showed a strong rebound at 56k, seemed to continue its rise, and appeared poised to break out of the range high. However, it now seems as if this attempt has failed and is proving to be merely a retest of the resistance level. If we think step by step, when BTC breaches the upward trendline, the next logical target would be 65.5k. There is also a level...

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BTC showed a significant correction after its ATH and has been moving sideways since then, showing no immediate signs of recovery. The wave pattern exhibits a typical correction phase, resembling a double—or triple-top pattern or a descending channel. In Elliott Wave counting, complex corrections are not the first choice. One should always look for simpler...

jackrabbitrage Updated 

Building on the insights from my previous analysis , the Harmonic pattern 5-0 has emerged on the BTC chart on the 1H timeframe. This pattern is a relatively uncommon find, yet it's a powerful indicator of a potential trend reversal. With the pattern's completion, BTC appears poised to fill the gap indicated by the lower wick of a candle on the left side of the...

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BTC is experiencing a retracement after its recent bullish breakout. The battle at the strong support level of approximately 69k has shifted to the 65k-67.5k band. So, what's the next stop (possibly terminal) for this pullback? I anticipate BTC might revisit the mid-50k range, with a high chance of briefly dipping into the lower 50ks. This prediction stems from...

jackrabbitrage Updated 

Some updates to my previous idea . The key level, marked by the yellow rectangle, has been breached, but the chart also shows significant resistance on the diagonal axes. Obviously, breaking above here means strong bullishness with I-H&S confirmation (the uppermost red box would be the next target then).

jackrabbitrage Updated 

Channels and trendlines suggest that the recent upside might be merely a bearish retest. If the resistance is broken up, the next stop will be 45.5k-46k.

jackrabbitrage Updated 

Bitcoin has finally achieved ETF listing. This should be considered a historic turning point. However, the market's response has been lackluster. What is happening? Technically, we have descended through eight gray channels and retraced back up four. Although whether this indicates a key level for trend reversal is not yet clear, the harmonic pattern...

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Whether it marks a local top or the end of a 1-year-long uptrend, there's a growing sentiment that Bitcoin is due for a reversal soon. I've attempted to use channels, harmonic patterns, and Elliott Wave theory in this analysis. Just to let you know, I haven't ruled out the possibility of BTC setting new lows, which means that this rise could be a corrective wave...

jackrabbitrage Updated 

I'm still pursuing the overall bearish scenario , but I also think it could see a short-term bullish case at the same time. If a red pennant forms, we would see a rebound to 26.7k-27.2k, followed by a steep decline as wave 5 of the impulse continues. Invalidation on breaking the lower red edge again.

jackrabbitrage Updated 

A bearish dragon pattern is detected that could, in this case, develop into a bullish anti-butterfly. The theoretically expected target is Fib .786 (approx. 22.9k), but the trendline would interfere with this process. So the modified immediate target is Fib. 65 (approx. 23.9k). However, if BTC makes such a new low on the daily timeframe, Elliott-wise 5 wave...

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My previous idea was invalidated. So an update. BTC might see ABC correction at least to the sub-27k level if its 4-hr chart respects symmetry.

jackrabbitrage

I still prefer the bearish scenario, the WXY path as the global wave 4. What would you see?