You can see that LRC took a dramatic drop from our most recent peak. It went into a down trend that almost looks like it's going straight down. That channel was broken and we are slowly creeping up after retracing to the 1.618 fibonacci level. Like I say in most of my posts target the 55 ema. Will need to see more volume then we currently have if we expect to...
A bull flag formed in stellar and broke out. I clearly labeled the target for that bull flag. Because the bull flag didn't retrace like an elliot wave would, I will assume we will retrace once we hit the bull flag target which would effectively define the first wave. The projected waves are basic waves. All 3 waves are the same length so they lack a bit of...
Based on Elliot wave theory we reached the perfect top of wave 3. Now currently it looks like we will retrace back to the 38.2%-50% level. However keep in mind that sometimes we will see extended waves. Right now the length of wave 3 is the same as wave 1 however because the markets have been recovering and coins are starting break out extended waves are more...
I've done an elliot wave projection for stellar on the 1 hour chart. You can see that our current price is making it's way up as the potential third wave. Using the Fibonacci retracement you can see we on retraced to the 38.2% and now are heading up. The macd appears to crossed bearish previously but is now changing directions. The rsi is also recovering and it's...
I received a comment on my last post on BCPT with suggestion of a potential head and shoulders. It actually looks to be true, something I over looked. You can see that on the right shoulder it perfectly hits the previous trend line. First it broke through the trend line then bounced back up only to be rejected by previous support. That is textbook for a head and...
If you've been following my posts on BCPT you will notice I've deleted the previous elliot waves I had. The waves I drew failed so I've done a recount. We can see that the price bounced off the 200 ema which is important. In almost all my posts I mention the 55 and 200 ema and how powerful they are. In one of my earlier posts of BCPT I mentioned how we should see...
Ada has broken every Fibonacci level and is heading for the 78.6%. If you look to the past you can see that the price has reacted to both the 50% and the 61.8%. As we approach the 78.6% keep a close eye for any indication of a reversal. I think there's a very good chance that we will see a bounce. I've circled past Fibonacci levels and where it bounced.
BITTREX:OMGBTC is currently falling on the 4 hour chart heading straight to the 200 ema. I expect to see a small bounce off this line with the sell target at the 55 ema. This equates to a 5%-8% profit potential. The green box indicates my personal buy zone and the red line indicates resistance as well as where I plan to sell. I will place a stop loss just under...
I'll keep it short. Rsi was previously in oversold territory. Macd looks like it will crossover. First target 2870 Second 2976 Third 3124
There isn't any obvious support in the area that we're in. The price previously went as low as 822 so we will have to see if it reaches that price again. If it does hit the 820's and bounce back up, that would be a good indication of support. I've drawn in channel lines showing the most recent trend. We will continue to trade down until we break the upper channel....
In my last post on BINANCE:XVGBTC you'll see that I said the 55 ema will act as resistance which it has. It's important to note that the 55 ema is very reactive acting as support and resistance. The wick of the current red candle touched the 8 and 21 ema which is a good sign of support. These ema's however are not as powerful as the 55 and 200 ema but because...
This is a quick update on BINANCE:LENDBTC as well as a potential short term profit. I've taken out the support lines to make the chart a bit more clear and to focus on the current situation. My personal buy in is around 912 with a sell target of 998 which is a 9% gain I based my target on the 78.6% fib retracement along with the fact that the orange 55 ema is...
BINANCE:XVGBTC has been my favorite for quite some time. Although it has a lot of more volatility than bitcoin, I use it to my advantage. The Rsi, stochastics and macd are all looking good and are signaling a bull run. It was difficult to identify a clear bottom/support that BINANCE:XVGBTC would halt at however if you look at the rsi just before this price...
Bitcoin has been steadily rising for the past 20 days. Although we would all like to see an explosion in price just like before, it's important to remember that slower growth is healthy. When price quickly rises, it also quickly falls. If you look at the bull run that began mid November you will notice that where the initial run begins, is also the same price...
Hi guys! I adjusted my previous chart slightly because the price was moving quicker than anticipated. As you can see I have moved wave 4 to the left to line up better with the current price action. I also adjusted my buy in price indicated by the green rectangle. We hit resistance yesterday and have been traveling down since. My target begins at the 50% fibonacci...
We can see the price has been trading between support and resistance since the beginning of February and we are now approaching support yet again. The first line of support has been very recreational and has provided support several times. Normally I would only have one major line of support but due to the volatility of crypto I've extended another level of...
As you can see we are at the top of the third wave which is part of a larger series of Elliot waves that begin from late December. I've indicated the larger waves in purple. We are currently losing volume along with the histogram on the macd decreasing. The Rsi has touched the oversold territory twice so we can expect a break to the downside. I've placed a green...