Fomonacci

Fomonacci

Is a 2500 dollar Bitcoin price still possible.. and how and why could we get there? This bear case is based on the rules of the Elliott Wave principle. More specifically a classic zigzag formation, and if i had to make an unbiased analysis of the correction from the all time high it still fits the criteria to be labeled as such. A zigzag correction consists of...

Fomonacci

Hello everybody.. Just wanted to share some observations. I noticed the last two big corrections trended in the same angle. If we trend in te same angle up as the previous impulse we could see BTC hit 32K levels early next year. Have a nice day

Fomonacci

We see ADA testing the median line of the Inside Pitchfork, but nicely rejecting the downtrend. If ADA can hold above the trend line it may shoot for the median line of the Original Pitchfork for a 50% roi. Possible targets to take profits are around: - 0.063 at the 1:1 extension based of the proposed wave 1 - 0.066 around de negative 0.618 fib level - 0.075...

Fomonacci

Whenever I scan the market for trading set-ups, I will usually look for the exchange with the most historical data to determine in what part of the marketcycle it is currently at. This does not mean there can not be found many different clues to what the price will do on charts that do not provide as much historical data. For example: Binance vs Bistamp. Every...

Fomonacci

If Link loses the uptrend it will very likely test the long established trend line again. When that support brakes next target imo will be around the $1,00 region where there is a nice cluster of the 1:1 extension from A to B, the bottom of the parallel channel and the median line from the original Pitchfork.

Fomonacci

If you are bullish on Bitcoin, Litecoin must be a no brainer if it were to reach 0.0050 - 0.0052 range. Very strong support of the 1:1 extension of the entire structure, the bottom of the parallel channel and the negative 1.236 Fib level. I get suspicious when it is this obvious.... but let's find out if it gets there.

Fomonacci

Not much has changed in my opinion since my last update. I think we are likely to test the 7300 - 7500 dollar area. For me we must hold this level to remain short term bullish...of course we are all long term bulls ;) If we break the 7300 -7500 dollar area we will be most likely test the 7000 dollar area next, but I believe we will see more downside action if we do

Fomonacci

He guys, although we are seeing a nice green day today, I still expect BTC to correct further in the upcoming months. Here's a sketch with some significant resistance areas too look for when searching for short term trades. To me the 2200 dollar level has all the right ingredients for kickstarting the next Bull run: - The 1:1 extension from A to B - A nice...

Fomonacci

Ltc has had a nice bounce of the 0.5 Fib level of the entire structure.. but then got rejected by the 0.65 Fib level of the impulse that started in December of last year. The support looks strong around the 37-33 dollar range, holding above the 0.5 Fib, the 1:1 extension of the first big impulse in 2017, the 0.786 Fib of the latest big impulse and the 1.65 fib...

Fomonacci

I don't like it when I have to get creative with the chart to find a reason to stay bullish. To me all of the targets around the 2200 dollar area look like a big magnet for BTC to come down: - The bottom of the downwards parallel channel - The bottom of the Shiff Pitchfork wich seems to have strong significance - The 1:1 extension of the 3000 dollar low to the...

Fomonacci

He guys, cleaned up the chart a little bit. Targets remain the same... still waiting for target to go long between 325 and 375 dollars. I do not expect to break the negative 786 (max 560 -575 dollars) and break out of het pitchfork before the next wave down to complete some of my correction targets. Feedback is welcome.

Fomonacci

I think we are gonna have 1 more wave down to complete a WYZ correction. Opportunity to go long around 325 - 350 price.

Fomonacci

Hi guys, I got a feeling we are almost done making an WYZ correction and a good opportunity to go long is around the corner at around 325-350 price. Let me know what you guys think.