unbeldi

unbeldi Updated 

2024-02-01. BTCUSD—Bitcoin’s All-Time Elliott Wave Structure

unbeldi Updated 

This is the continuation of a long thread of updated that I started in June 2023, shortly after completion of wave 2 of the current market cycle that should take bitcoin way past the existing high of 2021. The third wave is well in progress having perhaps reached half of its potential.

unbeldi Updated 

By the structure of the breakout in Minor wave 5 since the correction of the run of January 1 of the new year, we can forecast that bitcoin should advance at least to 49000 dollars, probably by day’s end.

unbeldi Updated 

The top of the bitcoin market has left a lot of folks puzzled about the prospects of further gains. Bears are vehemently defending the 45k to 48k resistance zone, while bulls are just as fervently defending the lower 40000s. This has lead to a narrow trading range that acted has a sideways channel for correction of the remarkable advance in November and early...

unbeldi Updated 

Ethereum has been lagging the growth of bitcoin by some margin all year. The ratio of its price to bitcoin has been on decline. Long-term tracking of the Elliott Wave count of the ETHBTC market now indicates that this bear market cycle for the pair is over, as we can fully account for completed waves, while simultaneously hitting the long-term support trend...

unbeldi Updated 

This is an Elliott Wave analysis of the ADA token of the Cardano project. Many supporters of the project hype fantastical prices for the coin in the next year or two. I have heard prices of $1, $10, $11, even $32. What is realistic? The Elliott wave principle provides tools for forecasting, based on the existing price record. The first step is the identification...

unbeldi Updated 

This post shows an Elliott wave analysis of the crash of the bitcoin market on December 11, 2023, and its recovery.

unbeldi Updated 

It is the general consensus of Bitcoin traders that the USD $48000 price level represents a major zone of resistance for further gains in this market for the remainder of 2023. The price level stems from the most significant inflection in the bear market channel from December 2021 to November 2022. While the ascend from the $30000 level has been swift in a series...

unbeldi Updated 

== BTCUSD wave count for bull market toward 2024 Halving == Bitcoin's first Cycle Wave I completed with a peak in December 2017, followed by a bear market ending in Wave II in December 2018. Since that low the market has traded in Primary Wave (circle) 1 to peak in November 2021 with a new ATH at c. $69,000. From November 2021 to November 2022 Bitcoin saw a...

unbeldi Updated 

ETHBTC is the market for Ethereum paid for in Bitcoin. It provides the long term holder of ETH or BTC the opportunity to move assets in either coin between the two major cryptocurrencies for growth depending on which coin is performing better at any given time with respect to a given fiat currency, such as the US dollar. As such it directly couples the BTCUSD and...

unbeldi Updated 

Here is my current view of the wave structure of the rally since the September 2021 correction. That correction was either a second wave, or possibly a fourth wave, of the rally from the 29k bottom of the 2021 Spring "crash". The decision between 2nd and 4th depends on a definitive decision for the end of the correction from May to July. I believe most analysts...

unbeldi Updated 

Ethereum has exited its August correction in Elliott Wave 4 of the run from the 1700 level in July. This was a triangle correction consisting of an A-B-C-D-E pattern and wave count. Immediately upon finishing wave E it accelerated into an impressive run of about 700 points into the middle 3800s, aided by a strong up-leg (wave D) in the Bitcoin chart. Today, while...

unbeldi Updated 

The correction in Bitcoin and other markets on September 7 was a purely technical correction after completing a five-wave sequence of advance since the c. 29000 lows in July. Bitcoin market internals, such on-chain activity, whales sales, show no indications of fundamental bearish signals. The correction is a perfect, text-book example of the Elliott Wave...

unbeldi Updated 

BTCUSD: Another attempt at 50k? Elliott Wave Structure For the first time since May 2021, Bitcoin printed a short-lived intraday high over 50,000 USD on August 23, after a remarkable rally from the correction lows near $30000. However, this price level could not be sustained and was followed in short order with a pullback in a descending price channel into a...

unbeldi Updated 

Ethereum finished its consolidation in July and is now ready to break out in a new bull run, having formed an initial impulse that set up a trading channel wide enough to support the next few weeks or months of trading. The start of this channel is marked by waves 1 and 2 in (probably) Intermediate degree of wave five corresponding to the top of wave 3 that...

unbeldi Updated 

The Ethereum Hash Rate Ribbon indicator has turn green since August 9, 2021. The indicator is one of the most important and reliable indicators as a long-term buy/sell signal. Basically it means that the market low of 1700 USD after the crash in May is a macro event below which the Ethereum market will never fall again. Bitcoin also has bottomed at about $30,000...

unbeldi Updated 

The Ethereum network went live in July 2015, six years ago this week. By September 7, its price was reported at USD 1.24, and on June 17, 2016 it marked its first noteworthy peak at $22. This was the first wave of a five-wave sequence that culminated on January 13, 2018 in a major peak just pennies short of USD 1420. This $1420 peak and the all-time-high (ATH) of...

unbeldi Updated 

Bitcoin reached its all-time high price in US Dollars on April 14, 2021. While many traders foresaw the end of the bull run by careful chart analysis, the pull-back was initially fairly shallow with prices dipping below $50,000 for only brief episodes, before prices rebounded to almost $60,000 by May 10. In the following days, however, a precipitous decline...