This just an update from 24 dec. Like you can see that trendline is broken so imo slowly we will go down to maybe the 61.8° For this moment can see again a bearish divergence (red and blue arrow) I don't believe we will retest that trendline before coming down or even brake that trendline again, b/c everything what is going on, it would be not logic (you never...
A closer shot from the previous idea. A good touch on the neckline from the h&s pattern. If btc breaks that neckline, up higher there is a strong resistance trendline around the $50000 depending where the candle is on that moment. After that there is a good change BTC will go down again (maybe a dead cat bounce?) For the moment we can see a hidden bearish...
Sqeezing in the symmetrical triangle (a big move is coming?) Fib 61.8° and a strong resistance trendline, have to see if that one will break. If that one breaks, the trendline will become a support (meaning bullish) and could see an new ATH on the longer term If not there is a lot of change gold will go down till at least around $1790. When that support trendline...
If we look at the W-chart, definitely we can see a 5 EW down, after a ABC correction. After there is a big chance again a 5 EW down (only this bigger than the last one) If you taak the trend based fib extension on the first 5 EW (the result was around 31500), BUT if you do that with the second 5 EW down (if this is playing out) the end target is 10500. the trend...
The previous idea the trendline was not correct (stupid mistake from me) like now it should be better, also it's connected with the 200EMA. if the trendline will brake, a good chance we're heading to the 30000 target
Depending of the support trendline will brake for the next move.... For the moment everything looks bearish The RSI line is broken, not a really good sign
Was this big Wave 1 (those 5EW) and now we can get a correction 3 wave abc up (should be wave 2) That means around 37600 should be the temporary bottom. wave 2 would be perfect to reload the RSI BTW i can draw this on the chart but that would be not clear for some people, to much stuff on the chart. Meaning Wave 1 (5EW), after wave 2 (3ABC), then wave 3 (again...
What if this was temperary the bottom, can this be the right shoulder in the future? Like you can see (IF this is the head) the head has the same target on both sides (see the bleu arrows). I just have the feeling we become bullish now. the reason is maybe the f*ck the bears because a lot of people are bearish (including me when you look at the chart) also the...
Maybe EW 5 3 5 The target like almost that from the H&S. everything is possible!!!
On the 4h timeframe btc broke a H&S pattern, if you take the line from Head to the neck and we copy that one below, it wil take you till around 39000. Also we have the black trendline, what was resistance (red arrow) before and became a support (blue arrow), so IF we will get to the 39000, i believe that will offer support on that trendline and will become bullish...
This is the Daily chart, for the bigger picture i have the Weekly chart, but also on the daily we can see an exaggerated bearish divergence. Bounced 2times on the bottom trendline, actually 3times. IF that trendline breaks, probably it's slowly leading the way to the 61.8° and there's also a trendline (that one is from the weekly, see the W-chart) bouncing 2 Times...
On the weekly chart we can see that spx 500 tested the bottom trendline again,now already 5 times. IMO it's just matter of time for the execution. And the question is only when that trendline will break. So still a bit confidence from the buyers at the moment, but again we can see a exaggerated bearish divergence. On the daily timeframe the spx 500 hits the bottom...
btc is going up again, only question is till where? Around the 50000 is a resistance orange trendline. IF btc can cros that one, i really see btc going to around 53600.that's the 61.8° fib and the 50 + 100 ema . IF BTC is going up + after coming down again (right shoulder) and cros the big black line (neckline), that means BTC created a Head and shoulders . A lot...
For the moment it's not looking good for bitcoin. because it's under the 200DMA or 50WMA IF the candle body is closed below it-> meaning we are official in a bear market. But keep in mind, in a bear market there are also good (bullish) waves up. Actually i expected a good and bigger bounce on the 200DMA. that should be wave 2. who knows maybe later. but that means...
Also on the W chart we can see clearly the EW. But if you take a look on the Correction ABC (the red ABC line) , it created a left shoulder and a head. IF the 5 Elliot wave down will come, it's creating a right shoulder and when that breaks the neckline, damn it can be very nasty (see the red (vertical) line). So when you take a measurement from the top of the...
Everything is possible. The dot line was a support line last time but became a resistance. Will the other dot support line also become a resistance? But it looks like we will have again a 5 Wave down. Maybe almost identical like last time (who knows,not me). meaning Wave 1 is finished, wave 2 is started and being bullish till around 61-63000,flirting with the dot...
Wave 1 complete? time will tell. See hidden bullish divergence (blue arrow), maybe meaning that wave 2 is on the way. going up till 60000-62000. After that big wave 3 can. wave 4 will touch the red support trendline from the triangle maybe cross it like a fake out. After wave 5 can start all the way to the 200WMA around 17000
On the way to around 3166? For now we only knew the way up. But what goes up also needs to come down... like in the previous chart i said we're bending over and loosing the strenght, heading to the support trend line IF that breaks, really seeing the way to the 61.8° fib (not in one move off course,it will take time). breaking the 200WMA around 3400 (50°fib) going...