Nueel_classic

Nueel_classic Updated 

Hello Traders! Welcome to today’s analysis on bitcoin, I hope you’re doing good From our last analysis on bitcoin, we tried to forecast a downtrend which didn’t quite play out because our wave c fib ratio exceeded 1.236 ideal extension for a wave c, which gave us more insight that what we called a wave c earlier is an extended wave 3, that was why I updated the...

Nueel_classic Updated 

Hello Traders, welcome to this week’s analysis on bitcoin. I hope you are all doing great From our last analysis, we expected some retracements for wave W, which we got and I labelled wave X, having a closer look on the smaller timeframe, the corrective structure looks like a zig zag, with 5 waves down in W and 3 waves up in X, in theory we should label WXY as...

Nueel_classic

Hello traders, welcome to today’s analysis. I hope you are all doing great. From our previous analysis, we took a swing trade from higher 17k region to around mid 19k, sorry I missed an update earlier this week. We reached the top on btc around 19.5k with a lower sub-wave truncation and got some massive rejection. Wave truncations generally indicates that the...

Nueel_classic Updated 

Hello traders, welcome to today’s analysis. I hope you are all doing great From our wave count, we know bitcoin is in wave 5 which is the final leg of the bull run, but predicting the top remains uncertain at the moment. Currently, we just finished a triangle formation which I adjusted the label as smaller degree wave x2 or a sub wave 4. Since we agreed that the...

Nueel_classic Updated 

Hello traders, welcome to today’s analysis on bitcoin, I hope you had a nice week. Today’s analysis will be brief as usual - From our last update, the market respected our forecast and we completed wave y which ended up about 100% of wave x, you can have a look at the previous analysis here. From the current chart, we can see the market is moving fast and got...

Nueel_classic Updated 

Here is an update on the 15mins chart. 3waves down from 11.2k region to 10.3k , and wave 4 is forming an expanding triangle. Expanding triangles are five-wave triangles. Triangles are pattern that appears usually in the middle and at the ending stages of the trend, they are usually seen in wave 4 in a motive phase and waves B & X in a corrective phase. I think I...

Nueel_classic Updated 

Hello traders, and welcome to this crypto corner, I hope you had a wonderful week. from our last analysis, we expected btc to make a retracement from 10k region to the upside around 11k region, which we can see on the chart.. so, what's next for bitcoin? last week if you can recall that after the wave 5 truncation, I started labelling a wxyxz correction....

Nueel_classic Updated 

Hello traders and welcome to today's analysis on bitcoin. don't forget to hit the follow button to get more free update, like, share and drop your comments below. thank you. so, what kind of situation do we have on btc/usd pair we had a strong impulsive move to the downside from 12k region to higher 9k. which I labelled wave y. short term, the market looks quite...

Nueel_classic Updated 

most wave traders are focused on labelling every wave structure impulsive which might not be so in the real sense. this approach makes elliot wave analysis looks like some hogwash. the truth is wave analysis is subjective to the analyst and may including some personal bias rather than embracing logic. we analyze wave differently and in my experience as a wave...