2019 Cryptocurrency (Elliott Wave): Christmas Update
Summary: Bitcoin remains in a bull market with an outlook to exceed the 2017 high. However, a price move below $5000 suggests Bitcoin is in a bear market, with price headed to break below the 2018 lows. The majority of Altcoins favour an...
GBPJPY Possible short trade set up. We appear to be working and A-B-C zigzag coming off the wave 5 high at 148.000. This interpretation suggest we should in the short term see a move lower to test the 139.00 level for support. Wave 4 of the previous 5 wave move failed to break support at the 139.00 level. The 38.2% Fib retracement level of the move up from the...
Analysis using Elliott Wave with Kennedy Channeling.
This analysis posits a B of Y of 4 in progress. Resistance likely to be found at the major deceleration channel boundary (Large Red channel) with support to be found at the highest-degree Base channel shown (Blue).
A very strong triple reversed bearish divergence c.A has just kicked in.
This is a sign of a great bearish pressure.
But a small return fire finally came from the
(asian? already? hard to keep up with everything...)
markets and we have consumed a lot of the impulse related to this divergence
by another small divergence - but this time a reversed bullish...
We have 2 scenarios . An immediate bullish scenario 1 and another scenario with a little more correction before the price jump (scenario 2) . I do favor the main bullish scenario or scenario 1 . we also have a bullish RSI divergence in play. I wish all of you a profitable 2020 . Feel free to comment below .
Now that the deceleration channel in play since Jan '18 is getting more mature it looks to be manifesting a falling wedge pattern.
I haven't figured out exactly what the structure of this correction is yet but it looks to be a possible zig-zag . Either way, the culmination of the wedge pattern looks to be sometime between now and Apr 2020 at which time the...
Price is finding support at the confluence of Base channel (Blue) and 50% wave 3 retracement.
I'm looking for a W1+W2 candidate structure to 'step' out of the Deceleration channel (Red) before I open a long trade for the W5.
Alt-BTC cap ratio has developed a wave 1 + 2 and 'stepped' out of it's long-term deceleration channel at the end of a very long falling wedge.
Candidate wave 3 is now in progress which means it's alt-o-clock!
Zoom-out to see the whole deceleration channel.
I don't like to speculate too much, thus I am very cautious when mentioning
anything further than a few days from now on into the future.
This idea was born as an answer to the question pitched
by fellow trader - nickrandy1. Respect!
Simply two charts. The #1 major reason why we are going sky up
is mapped above - the FINISHED correction model xyzwxyzwxyz