Once price breaks out of this consolidation range we should see an impulse to our 2.6 fib extension @6250 (Breakout by Tuesday). I will expand on this idea once we break out and confirm the move to the upside. I will also share my thoughts on why I believe we can now safely assume that the bottom IS IN. Woohoo! Hope you guys have a wonderful Sunday. Below is a...
As i posted last night the total marketcap briefly broke out of it's triangle and and we didn't dump on a bunch of fud (bithumb hack, SEC BS). Bullish or set up for the 69th bull trap? This could get real exciting today/monday. (gotta break over A to switch from correction to Bullish impulse) Total market cap Crazy how much things can change in a week.
Although i have been treating this move up as a correction, as it approaches the final A of a double zig zig, I am considering the bullish alternative due to the total market cap breaking out of the longterm triangle and currently retesting the top as support. I'll add a pic at the bottom of total market cap. If it is going to breakout we should know in the next...
Impulse down is rejected with that 6 hour candle close into the the wave 2 area. Normally with elliott wave rules I allow a wick into this region since this market is so leveraged but with that close the impulse down was invalidated for me. Will look for short when we approach resistance at the end of this last C And i will continue to view this as a corrective 2...
So, the drop from the support line today came about 12 hours after I anticipated but at least we broke the seal and now if we can just flush this thing in April, we can finally print a bottom and start setting our first targets for the next bull run. I'm especially excited because this wave 5 of our grand cycle will not include a long accumulation period like the...
This alternate wave count is assuming that our last huge primary A down from 6k already had its sister wave and the bottom is in (I don't think it is, but i prepare for multiple scenarios sometimes on high time frames to stay ahead). For confirmation, watch for it to hold / close dailies near the pink diagonal res if this is the route the market takes us. My only...
Thought I would share my alternate count after the weak dump/follow through from the bears. In this scenario, we will assume the C of the final ABC is not yet complete. BTC and ETH dumped on cue yesterday after a fadeout high but the breakdown was ultimately rejected by the trend line at 3925 which caused me to close my ETH short with an underwhelming 3 percent...
Btc bout to load the spring down to <2k.huge support in 1800 region but theres also multiple confluences at 1500ish like gann pivot and alltime mean. Huge violent fifth wave to finish this cycle coming up right after. will be simple 5 subwaves and match up perfectly with the 2020 halving going parabolic in May 2020. Ill add why EW requires final dump at later time.
Similar outlook on ether. if nothing changes in the market, eth will lead the breakout again on march 20 after the daily close.
Btc bout to load the spring down to <2k.huge support in 1800 region but theres also multiple confluences at 1500ish like gann pivot and alltime mean. Huge violent fifth wave to finish this cycle coming up right after. will be simple 5 subwaves and match up perfectly with the 2020 halving going parabolic in May 2020.