Tradern53

Tradern53

Today I want to present my main scenario. As long as 37400 holds I give this scenario the highest probabillity. I have identified an expanded triangle in the WB of the triagnle. Foundation for this scenario is WB which made HH and WC which has corrective nature and was unable to make LL thus it made HL. Now we are moving up in WD which is a complex correction with...

Tradern53

Today I present to you inverted W chart of BTCUSD. We can see clear impulse down. Because we can count five waves we should form a scenario where PA will correct the impulse. So far we have gotten a reaction from lows and a HL which is the first indications of reversal. To confirm this idea we should see break of wave B of the recent correction in the channel and...

Tradern53

I am having a hard time counting the move from 69k as a five move move but we should still give it some probability (personally I give it only 20-30%). The move from Feb 21 can be counted as a flat and the move from Jul 21 bottom can be counted as zig zag. Both corrections subdivide in three waves so if we add them together we have three waves down three waves up...

Tradern53

Today I want to poke my BTC friends a bit. This is a BTC supercycle count and we can clearly identify large five waves. Keep in mind that this chart completely avoids fundamentals. We all know that as long as there is a demand for BTC it will go up thanks to the tokenomics (halving events = fixed supply cap). Moreover, this is long-term chart and it may take a...

Tradern53

I have spent this morning analysing BTC and I have come up wth multiple counts. This count however, is the clearest and simplest one. I am having a hard time counting the move from 69k (nice) as a five-wave move. It´s possible but I give it a lower probability since it´s not as clear as this count. Therefore, I am setting an alert for the trendline break and...

Tradern53

The beauty of elliott waves is not only in their invaluable analytic tools but also in their trading methology. They tells us that previous W4 area acts as a support/resistance. When price action breaks this zone it often suggets that the trend has changed and reversal is more likely. This indeed happended recently on BTCUSD. Price action exceeded the prevous W4...

Tradern53

I have identified a finished zigzag in a long-term wave 4. Why I think the Zigzag is finished and the higher-degree trend is ready to resume? We have seen a waves A and C which clearly subdivide in five waves. The wave 5 in wave C appears to be truncated which is very rare, however, given the wave 3 extreme course, I still give high probability to this wave...