zippy1day

zippy1day

Clearly a double top in play and with a Bulkowski downward target of $76,542 which incidently fills the infamous CME Gap!

zippy1day

It's hard not to see this as a continuation of the long awaited "Bull Run" with us entering Minor Wave 3 in order to complete Intermediate Wave (5) of Primary Wave 3 ?

zippy1day

Whilst the "Descending Triangle" was being heavily promoted in the market, I still don't think this was the case but a complex sideways action due to a correction possible wave(4) and fundamentals!

zippy1day

The correlation with bitcoin before the halving is significant in my opinion and so while this descending triangle seems convincing the elliott wave count would say otherwise if correct!!!

zippy1day

As this Pre-Halving seems to be ahead of schedule so far as "All Time Highs" go this has been very difficult to trade and chart. So until this Parabolic Trendline is broken intermediate Wave (5) is still suspect as to being in hence the question marks ???

zippy1day

So far this rectangle has played out to Bulkowki's down target, the question being will it find its absolute target marked on my chart?

zippy1day

Following up on the Flag theme I am wondering if this is a "Pennant" which would take us up to the "Flag" absolute target and make a new 'All Time High'?

zippy1day

I have put some absolute and average targets on my chart which are quite interesting given the lack of historical data at the upcoming price discovery! NB The "Ascending Broadening Wedge" and " Descending falling wedge" targets have been met where the flag lies in the $52/50K region.

zippy1day

It appears we are nearing or are at "Fair Value" for the time being but in my opinion we could over extend if this Elliott Wave is correct so I expect short term volatility!

zippy1day

Traditionally bitcoin has a hot month in February, so I think this "Inverse Head & Shoulders" pattern could possibly play out with confluence at $50,780 as a topping target around 2oth February 2024. Bulkowski's Inverse Head & Shoulder:- thepatternsite.com

zippy1day

Is this classic "Wyckoff" Re-Accumulation as shown in the link below? see diagram - $COMPX school.stockcharts.com

zippy1day Updated 

I believe after a complex Higher Wave 4 (WXYXZ) we are now completing the Z wave in a impulse wave down before we climb to higher levels in the count? As seen on the chart this appears to be a Symmetrical Triangle as shown in the link below:- thepatternsite.com

zippy1day Updated 

For this "Big W" pattern to be valid we have to assume the swing high, swing low pivot levels are valid in the context of Bulkowski's formula? Bulkowski's Big W Pattern :- thepatternsite.com

zippy1day

The "Ascending Broadening Wedge" has not broken out either to upside or downside but with the strength of bitcoin at present it is likely in my opinion to break to the upside albeit the bears are exerting extreme pressure! Bulkowski's Ascending Broadening Wedge :- thepatternsite.com

zippy1day Updated 

This "Cup and Handle" pattern appears to have more validity as time goes by with Absolute(A) and Bulkowski Up Targets as per chart! Bulkowski Cup and Handle Pattern:- thepatternsite.com

zippy1day Updated 

Its seems my previous post may have been premature but this possibility is still on the cards given the bullish trending nature! Bulkowski Pennant @ Tilt :- thepatternsite.com

zippy1day Updated 

As the pattern is still forming I cannot affirm categorically that it will play out but on probabilities there is a good chance to test recent strong lows?

zippy1day

As we have broken the confirmation line I feel it is necessary to post this chart right now, I hope you have already noticed the potential pattern! Bulkowski's Big W :- thepatternsite.com Big W, up breakout B + ((H - L) * 74%) Where B = D, H = A & L = B