mukit1

mukit1

Market has refused to fall in the past few weeks. Whatever Fed is doing is working in the short term. With US election around the corner, it is highly unlikely the market will make any drastic moves until the end of this year. Seasonality is also on the side of the bulls. Geopolitical headwinds have stalled the progress but couldn't turn the tide; for now. The...

mukit1

The price action for PINS since August of 2024 looks like a big 3 waves corrective move upward. This could be considered as the B wave if we see the big drop from June as the A wave correction. Since that correction was in 5 waves, it can be either the first part of a zigzag or wave 1. Now, one can argue that entire channel move from May of 2022 to June of 2024...

mukit1

RIOT has made into my very long-awaited target of $6.5 entry point and went beyond it by a little. This technically marks the end of intermediate degree wave 2. The move following the low has been steady but not extremely strong. For a wave 3, I would have liked to see a very strong and convincing V bottom recovery, but it has been a bit choppy. In the coming...

mukit1

I am looking at this alternative count since it answers two questions. First, the very first day price action back in April 2020 and the following structure looks to be a 3 wave structure that throws off the entire sequence until the top in Nov 2021. So, if we go with that as a 3 wave structure, it starts to make sense. The second question is the matter of supply....

mukit1

I am tracking this count as more likely at this point looking around macro conditions. This will be completely invalidated if broader markets start making gains or start crashing in the next few weeks. If things keep chopping around, then I am speculating marginal highs leading upto the US elections and things turning for the worse until finally settling down...

mukit1

ADA is not putting in the impulse moves that it needs to get out of the $0.24 - $0.4 range. It is looking more likely that price will retest the bottom of this range, and maybe breach it a little to reset the rout. There are many good things happening to the chain but price is not reflecting it. The black count reflects the bearish idea. In this count we assume...

mukit1

Sui chart is as impressive as SOL or ETH at the ground floor. Barring the day 1 craziness, the price action has formed higher high and higher low. It is still very early to assess if this has any merit, but in the short term, the chart is showing very powerful impulses. Even going back to ATH will be 4 x from here and I believe it will not stop there. I got in...

mukit1

LTC long form consolidation is making things very difficult to apply Elliott Wave counts. The consolidation looking like a long triangle, which can be wave 4 or wave B. Triangles can take a long time to complete and usually designed to make life difficult for traders and investors. So, keeping that in mind, bull count is in Blue and bear count is in Red. Triangle...

mukit1

PLTR ending diagonal is taking time and stretching out. The last few weeks have been forming a bull flag and now the news of SP500 entry is poised to push the share price higher. On an expanding diagonal, wave 5 is expected to be longer than wave 3. So, the price target puts it to over $40 or higher. My plan hasn't changed. My long term load target will come after...

mukit1

The sharp reversal on early August was looking really promising for BTC. But unfortunately, the price action could only form an abc pattern. The impulse has failed but uptrend is barely intact. At this point things are looking to be an ending diagonal pattern of some kind. There is much to play out, but whenever there is a 3 wave pattern to start with, there is no...

mukit1

At this moment RIOT looks to be completing 5th wave of wave C. The price might come down to the volume node from last year's consolidation. During this long BTC consolidation, RIOT and other miners have suffered a brutal downtrend. The long downward consolidation has tested the fundamental strength of the company. RIOT is probably the only one that has very little...

mukit1

Well, a good chance of an impulsive start has been cancelled this week. However, a higher low is still intact. As long as price stays above $0.132, there is still a chance of some kind of an A wave forming. In the coming weeks if we see price retesting the former high at $0.23, then we can expect a wave completion and some kind an inverted head and shoulder...

mukit1

Gold has been on break out mode seems to be forever and yet, it is not going anywhere. Gold bugs are trying to hype up as much they can, but the price is moving in snail pace. This brings to my primary count for gold. Amazingly, trading view has been able to get the price since 1833. In a few years that will be 200 years of price action. So, it is fairly safe to...

mukit1

Doge broke a critical price level for me and now I am on the sidelines and looking for a re-entry. At this point I am considering my primary bull and bear case in the chart. Either way, we should see a directional move shortly. If we see a higher high above $0.144, there is a good change that the diagonal pattern is still active and most likely it is the leading...

mukit1

GRT is looking to create an expanding leading diagonal pattern. If the final leg of the diagonal pattern is about to start, we should not see a break below $0.127. If that price breaks, then wave 4 is not likely done and price can move a little bit lower than $0.115. Either way, as long as price stays above $0.077, we should see a high above $0.5 and most likely...

mukit1

The recent drop has made a nested 1/2, 1/2 count invalid and now it is shaping up to be a leading diagonal for minor degree wave 1. Broadening wedges are more common for leading diag. This means we should see an uptick on the markets very soon. As long as price stays above $1520, the leading diag will stay active. My initial target to complete minor wave 1 would...

mukit1

Owning PLTR would be a roller coaster ride for the last one year. This move is looking more like a broadening wedge formation. Even though it is not a very common ending diagonal pattern, it still can play out like one. RSI has been steadily making a lower high as price is making higher high. Each impulse is met with crushing correction and invalidated patterns....

mukit1 Updated 

This week's waterfall selling hit my stop loss at around $.12 with about 20% profit. But I loaded the bag again when I got a buy signal on the fib golden zone around at $.11. Now have a very tight stop loss right below the wick of today's candle in case this bounce is not a sustaining one. If momentum picks up, this could be rocket move we've been waiting on for...