maikisch

maikisch

Once again we appear to be extending our wave iii. How far can a 3rd wave extend? theoretically....infinitely. RN Elliott only laid down rules for discerning where are within bullish and bearish cycles, the structures they may assume, and price points that cannot be violated within waves. Now, in reality nothing goes straight up forever. However a 3rd wave...

maikisch

I'm starting to feel more and more confident that the 2.618 Fib Extension may be tagged at $159-$160 before wave 1 completion...but will continue to look for clues that a more meaningful decline or a longer consolidation will take place. This type of aggressive extending of wave 3 makes it difficult to asses where this wave will terminate as SOL doesn't react...

maikisch

Early update on SOL. Looks like she's pushing the wave into the next fib as mentioned yesterday at $139-$140. Above $142 next meaningful resistance is $159. Rather than get ahead myself...We're due for a consolidation or a decline of at least several days. We have strong support at $120 $116 and $108. However the way SOL has extended it would not shock me if...

maikisch

Solana may attempt to push wave III into the next higher fib at the $133 level. Any break of $120 will solidly have us in iv...but a new local will have our next resistance in the $133 level before starting wave iv. Shorts not advised.

maikisch Updated 

It appears we are now in wave iv of 1 and should see a decline to the $113-$117 level by tomorrow or Monday the latest before heading to a new local high.

maikisch

I posted this chart a few days ago: "Solana-Chart-Potential-bottom-in-place-II" It touched on trader sentiment and structure...and the importance of SOL price getting above $123 within our current bottoming structure. That happened today. So what's next? We need to fill in waves 4 and 5 of the larger wave 1. That wave 1 top should reside in the area of...

maikisch

Chart attached. Please refer to earlier charts. Questions answered if you follow me.

maikisch

Price action within markets are a fascinating phenomenon. For the most part their counter intuitive to news, current events and the realities of analysts. Case in point, we have the highest inflation in decades, there's a war in Ukraine, Oil prices are the highest in a decade and the stock market and crypto currencies (risk assets) are rallying. Really? That...

maikisch Updated 

Here's a zoomed out view. Once SOL has a 1-2 in place we can accurately project the path price will take. 1-2 should be in place by summer if this is a confirmed bottom. A breach of $77 could point us down to $60. Right now....Bulls are in control.

maikisch

If SOL has bottomed the first clues we will get is a breach of $107, then finally $123. This breach must be a five wave structure as indicated in the chart. This would represent a wave 1 of the larger wave 3 and reside in the area of $140-160 to be completed around the May-June timeframe.

maikisch

There's a growing possibility that SOL is putting in a bottom. $107 and Then $123 area must be eclipsed for confirmation and a 5 wave structure must be in place. If this is playing out, we should see $334 area by end of 2022.

maikisch

Not optimistic about the depth of this decline. Technically impulsive count is not invalidated but price has to go up starting soon.

maikisch

Should we break out over the recent high of $106-$107 we should go very fast towards the $122 area and consolidate. This could take a couple days or more but should take place relatively soon after an eclipse of the $107 area. This 1-2, i-ii structure is coiling for explosive upside.

maikisch

IMHO this is about to take off to the upside something fierce.

maikisch

This chart represents the beginning stages of the various subdivisions of the larger degree Wave 3 with this being 1 of ( I ) of the larger 3.

maikisch

SOL in the final throws of its wave 2 consolidation and will visit $80 in next 2 weeks.