Might be too early to call, but the gap between the 3200 and the 200 may close very soon
Green power bars will pull the 200 over the white 800ma, and from there we will see how much power presents itself to head towards the 3200ma
Possible 5 waves are in, i count a truncation, but It can be hard to tell without a clear wave 1 ahead of us
Target is 39$ or near...
As you see, Pundi is within wave 4 which is being formed by a expanded flat pattern. Usually wave 4 is ended near wave 3 or 4 of previous trend. So it seems it's the end of the wave 4 and it'll have a upward wave called wave 5. I think wave 5 has a truncation and it wouldn't reach the end of wave 3 because wave 3 is extended and wave 4 had a sharp correction. So be aware!
In our favored count 1st is extended not 3ed = Probably no truncation for 5th!!!
-If Wave 5 is truncated, or contains an Impulse that is truncated, then neither Wave 3 nor Wave 4 can contain a subwave that is truncated. (A truncated pattern is where Wave 5 is shorter than Wave 4. This is also known as a failure.)
-Requirements
Given that we already experienced...
This is the wave pattern I am sticking to unless we break to a new high above the trend line (WITH MOMENTUM).
If the price goes above the trend line in divergence to indicators then I am a seller and staying short (false break).
The wave analysis shows 4800 minimum for wave 5 if the bearish trend line holds and the price plays into the forecasted support and...
there was breakout upward from triangle pattern in last briefing but it still move sideways.
Let's start the analysis for BTC/USD chart.
If you are busy, you can just read below briefly
'1. Briefing '
'5. Summary and Strategy'
before read, click '+Thumb up, +Follow' :-)
1. Briefing
# Sideways Movement
# Golden cross ( 20EMA and 100EMA ) on Daily Chart...
In a recent movement of LTC/BTC, I observed double truncation pattern and double apex pattern(To say 'Double' is may not be a good word in this situation, but is used for emphasize the pattern is repeated.).
In the chart above, Apex pattern was shown after Truncation pattern, and now the LTC is moving towards the 'e' point on the second Apex. As showed in a...
It looks like we might now be on the third subwave of wave 3 of C of this correction, assuming it is an ABC correction for wave 2 of the higher degree uptrend. If so, we should see a strong bounce around 7800 and then sideways for a while for wave 4, before continuing on to wave 5.
I think we might see a truncated 5th on this current 3rd wave down to start wave...
Looks like I counted wave 4 as part of wave 5. I adjusted the wavecount on the previous wave C of B to properly count the 5th wave up. Now we appear to be on wave 2 of 5 of the final wave C of this correction. I am waiting for either 7600 to see if it bounces there and maybe I'll buy in, or it could go as low as 6000 since this would be wave 2 of the greater...
I was wrong and BTC kept climbing a bit further before losing steam on the latest run. It looks to me like we are near the end of wave B of this ABC correction within wave 2 of a bullish trend.
I'm new to EW analysis so please let me know if anything seems to break the wave formation rules/guidelines. As far as I can tell everything conforms. For wave C down I...
BTC price rebounded from $ 8400 points. I had expected a similar decline in the last posting 'Ongoing Flat correction', but actually it was steeper and stronger than I thought (the price plunge of altcoins).
I observed ‘truncation’ in the red box shown on the chart. This means a change of trend, and the possibility of starting a new elliott impulse. So I think...
New to TA so please excuse my ineptitude. As far as I can tell, this idea conforms to Elliot Wave formation rules. If this is correct, we will be entering corrective wave 2 shortly if $11786.01 isn't broken. I would appreciate any feedback if I've misunderstood or overlooked any formation rules which invalidate this analysis.
FX:CADJPY found support at 89.00 and made impulsive rally last week after long one month complex correction. So, we see five waves up with Bullish Market Truncation in fifth wave, broken channel resistance and three waves down correction, which is our signal for longs. We expect a bounce in days ahead into third wave up back to new highs. FX:CADJPY is bullish...
Unsure of how to label what we have going on right now but I will trade short setups I see. We should have a good down sell good for a few pips ;) Have a great weekend everyone!
![BTCUSD: [Red Apple] "Higher High?? "_ BTC/USD _ 18.07.30](https://s3.tradingview.com/y/ywGRLJs5_mid.png "[Red Apple] \"Higher High?? \"_ BTC/USD _ 18.07.30")
