This chart illustrates super-cycle wave 1 and 2 of the Bitcoin lifecycle. Grey dots indicate Kennedy channel loci (selected using the orthodox method) and Grey circles indicate interaction with an extant (still active) channel boundary. I propose that the Grey circled locations serve as critical junctures which are deserving of attention as they typically...
The alt market looks to be closing in on wave 4.2 completion against BTC with bullish momentum divergence appearing @ -78.2% on the 8h chart.
T/A invalidation @ 100% retracement = ~1.027
Pancakeswap looks to have completed a high-degree W1+W2 with a 94.1% retracement, deceleration break-out and lesser degree W1 in progress. Very bullish indeed!
This wave-count has a bearish breakdown of the current sideways-inclined channel @ ~$30150. Below this a lower-low is likely. A break-out from the top of this channel increases my confidence in a larger rally.
This analysis has a running triangle wave 4 in play with the final wave E now in progress. Downside target of ~$55k (50% C/D) on ~6th April before bullish continuation for the macro wave 5.
* This is my highest-degree wave-count: ETH is gearing up for a gargantuan move against BTC in 2021 imho.
* I have a completed primary-degree Base channel (beginning 28th Dec 2016) with several nesting Base channels of lesser degree now emerging.
* Thick lines (Blue, Orange, Red) are 200, 100, 50 week MA. Thin Blue line is 200 DMA.
* Invalidation @ 0.02629 on...
Time-derivatives of price movement concept. This model has price represent position, Base channel gradient represent velocity, Acceleration channel gradient represent acceleration and acceleration delta represent jerk. These account for the first Four time derivatives and may be used to infer market system modality.
1, Change of position yields velocity (price...
After a ~2.5 year retracement ETH has stepped out of its deceleration channel against BTC with a series of Bases established and is now retesting that deceleration channel from above. Unbelievably Bullish.
BTC looks to be setting up for a move lower with 3 nested W1+W2 structures visible. I expect the 200 week SMA (Blue) to act as bedrock as it has done for the previous 6 years.
Algo has popped out of it's Base channel and is now re-testing from above. Suitable profit targets for an entry any time now are the shadow-channel boundaries (Blue parallel lines above the channel). One strategy I've been using of late is to sell 50% at the first and a further 25% at the second (if prices makes it).
Contrary to my previous TA I now believe that BTC is manifesting a Wave 1 leading diagonal.
I expect this to peak at about ~$9044 before a 50%+ retracement for it's wave 2.
Once this retracement is complete then the stage is set for wave 3 with a peak at around ~$11.8k.
