NuwanthaKumara

NuwanthaKumara

if you draw a Parallel channel using those red tops and bottoms you could see that the recent bottom seemed to be bounced by lower trendline of the channel. the first up trend took 109 days and the second one took 113 days. median of those numbers are 111. assuming that next up trend will take 111 days the new all time high will be 72000.

NuwanthaKumara

"Technically" Ethereum should go to $100 but there is only 0.0001% chance this would happen. but old chart patterns say this. ehereum had a very good bull run. maybe now is tim for some correction

NuwanthaKumara

Bitcoin is currently trading in Expanding / Reversal Symmetrical triangle correction pattern. (3,3,3,3,3) Top Declining and Bottom Rising This is the correction for the big dump happened few days ago. after this there will be another big correction or maybe this pattern could go sideways making double three or triple three correction.

NuwanthaKumara

Triangle Expanding Correction is very rare pattern. I just found one of then in bitcoin 1 hour chart. you can clearly see 4 of 5 total 3,3,3,3,3,3 waves. after the triangle complete bitcoin will go down quickly. everyone is thinking bitcoin will go up after this but i think bitcoin will go down for some time. because market always punish us. but maybe there will...

NuwanthaKumara

As You can see bitcoin is now in the 5th aka the last wave of 1 to 5 up trend. And it Also in the Rising Wedge Patter which usually a bearish pattern. As we all know the 3rd impulse wave of 1 to 5 Elliott waves cannot be the shortest one of these three impulse waves. wave number 1 is bigger than wave number 3. So the only way the rule can be applied is wave 5...

NuwanthaKumara

In Elliott Wave theory, a flat is a pattern consisting of three waves labeled A-B-C. It is a corrective pattern that runs counter trend. The pattern tends to be a shallow retracement of the previous trend and may be the ‘flag’ of the common flag pattern at times. At other times, it may look like a simple range that spends more time going sideways than making any...

NuwanthaKumara

The Expanded Flat correction is a common corrective structure seen in wave 2 and 4 of a Motive Wave, the connector in a Zig Zag or any part of a Double or Triple Correction. In a bullish trend scenario price moves against the trend lower in a 3 wave structure to form wave A