Bitcoin/ Btcusd probably resuming its “downtrend “ as price now @ major supply zone which formed by order Block/ flow. Seem like bitcoin and gold having a positive correlation ( same direction ) now.
Short Gold @ 1988 +/-. Where there is the upper border of daily red candlestick’s body after a long wick/ tail which act as strong resistance where price closing inside the stop hunting zone after hitting the zone.
Potential C point of shark at 29.4k. Target is .886 area at 20.7k
Bear market isn't over yet. Based on wave (W) and (X) we are going to get 3 wave move higher which will be end of wave (Y). Bear market will continue after completion of wave (W) (X) (Y) in red. Let's follow up closely...
Hello friends. We have shorted Bitcoin with a modest size. Our reasoning for this trade is that the new and surprisingly popular "Bitcoin to 1 million dollars in 90 days" narrative spawned by the unintelligible "Balaji" will lead to a correction since it is a sign of retail involvement. His narrative does not make any actual sense, considering that a collapse in...
On the chart we see a typical bubble in each phase. Note how long the distribution takes and how long the accumulation lasts.
The fact that the price did not touch the redline (the starting point of wave a) means that within the current scenario of abc flat only one option is possible - regular flat where wave c travels beyond the low of wave a but stays above wave (i) starting point. That places the target within a green rectangular boundaries. Of course this is a very, very speculative...
Looking at a 5 RR short, ideally I will wait for a distribution to play out and get in with a tighter SL than pictured.
Jim Cramer Calls Bitcoin 'A Strange Animal,' Urges Investors To Sell Their Holdings As Crypto Market Gains Momentum Cathie Wood Says Bitcoin Is Going To $1M — Jim Cramer Says Yeah, And I 'Walked On Water' In The Sea Of Galilee
5 minutes before FED interest rate decision and FOMC. Let's see if it is a fair approximation of what is going to happen.
As we can see on the above chart, Nifty & Nikkei have two different Corrective Structures . Nifty and Nikkei is a ABC and WXY correction respectively. So the Right Side in the short medium term is down or turning down . Now we expect that the correction will be completed in the end of third quarterly, 2023. At this moment we only identify Nifty with bullish...
The upcoming FED decision has been discussed in our bitcoin update, so as usual I will only focus on the technical situation in Ethereum. Surprisingly, Ethereum has shown some weakness in the last days and the price got rejected from the 1.236 extension three times already. At the time of writing this article, we are still trading below this important level. ...
The USDJPY has been making small ups and downs in an unstable market, but there is currently no major upside; it is said to be waiting for the FOMC, but if the rate hike has been factored in, it should be able to go back up more. Technically, I think the resistance zone is at the moving averages.(55MA) If the direction goes down, it will aim for 128.
The shape looks good enough to attempt a short here. Keep the risk small since it's FOMC. Maybe don't trade until after FOMC. Up or down move today could be really violent.
#GOLD #ShaneElliottWave #Shaneliot GOLD || Elliott Main wave count || 22 Mar, 2023 (UTC-8) --- Elliott Wave Analysis by: Shane Elliott Wave (Shaneliot) Hello traders, That's my wave count for: GOLD Trading strategies: Neutral Timeframe Analysis: 4H Expect Main Elliott Mode: Motive Wave Expect Main Structure: Impulse Position: Fourth Wave (Light pink- Minute degree) ---
Well, just trying to see if there is any chance that we are at the top already. And 1:1 ratio looks good to me. Not to mention that this leg unfolds in 5 waves. Not attempting a macro count for the moment as it looks confusing with the massive liquidity in the market. Keeping it short term.
A triple flat was formed, and it was a correction for the previous decline, and it is about to complete the correction, and the decline will be completed, and Ethereum and alternative currencies will weaken accordingly, and the acquisition of Bitcoin will be strengthened at the expense of currencies and Ethereum
I see that the currency is supposed to work three upward waves, and the first wave has already been implemented, and now the second wave is formed in the form of a flag, and when the formation ends, the market will explode upwards, forming the third and final wave