Now bitcoin is in corrective movements. According to Elliott, it is in the dominant zigzag pattern. Any growth in this pattern is an exit opportunity and somehow a rest for further decline.
After completing 5 waves of wave C
There are two predictable scenarios
First, the continuation of the correction. In this case, this coin will grow during three main waves, and...
Still , we look good , if gold break below 1763 , then it may go new lower , until that i am expecting a move towards upside towards 1800 .1810,1820 dollars levels .
Hello fellow traders,
GBPNZD is doing exactly what we wanted to see. So, it Is still recovering from the upper base channel line, which proved to be good support for the forth wave. Wave v is now in motion, and can take price towards the Fib. Ratio of 161.8/261.8 (1.940/1.950 zone), where resistance can be seen, and a bearish turn can follow.
On december the 7th, i made a post regarding the a BTC Wave that no one was looking at. We got a bounce exactly of the 1.618 trend-based extension.
On that analysis, i had 4800 as a target, which i think we will see after we hit our buy zone at 3420-3320 USD.
3420-3320 is the completion of the B retracement down. 4800 will therefore be our C.
What i expect...
So upon looking at several factors I believe the price of stocks are fully priced atm, and that 2900 was the top for the SPX, I believe the bottom will be around 1580 or 1800 and will take about a year for us to reach the bottom, so by the year 2020 we will see bullish momentum again and that is when I will be looking to enter stocks again. Right now in my opinion...
I think the most probable scenario for oil in the first half of 2017 is to complete wave C in some motive but choppy fashion. Ending diagonal is a perfect candidate for this move. As it totally reflects the fundamental idea of two battling forces. On one hand we have rhetorics and measures from OPEC plus seasonality in first half of the year pushing crude oil...
