We had a nice rise across crypto earlier today! We keep hoping we're done with this correction that feels like it's taking forever, but I fear we have one more dip before we're done. The 78.6 retracement of our 2/2-2/19 rise would take us down to 132. We almost hit that yesterday, but instead we bounced off the support region from 12/9, 12/22, and 1/17. We...
Our current downward wedge (pink) is approaching its end. We have a little bit more to drop to hit the bottom one last time, possibly around the 78.6% retracement of our rise between 2/5 and 2/20, which brings us down to 7136. From there, the hope is we'll soar upwards (green arrows). A target for wave 3 being 1.618 of wave 1 gets us to 16685. On the negative...
Wave IV is about to start working on its downward C wave. Estimate #1: Wave A went down from 11299 to 10159 = 1140. Wave B fought back to 11150, but is now back at the ceiling (upper bold pink line) connecting the peaks of 12/17, 1/5, and 1/6. RSI is high, ready for a drop. If wave C matches A's 1140, that would bring us down to 10010. Estimate #2: Wave A took...
We had an impulse wave up from 2/13 to 2/15 (light blue inner impulses, dark blue outer impulses). That broke us out of the ceiling (lower pink bold line) from the peaks of 2/3, 2/10, and 2/12 (twice). We took another day and a half to do an ABC correction (dark red ABC). Finally we got going again last night with the next impulse wave (again, light blue inner...
Last night we hit the peak formed by the downward slope connecting our recent peaks of Jan 28 and Jan 31 (dashed pink). This fits nicely into our current uptrend. In alternating green/red/green, you can see the inner Elliott wave patterns within the larger waves labeled 1/2/3 (blue). Note: This could instead be an ABC - more on that at the bottom. If we go with...
New here (only second post) - still learning, so thoughts are much appreciated! We have a support level (blue) at ~0.087. We have a short-term triangle (red), with a bullish breakout on 1/27. (I have the floor of the red triangle as either the green longer-term triangle, or the blue support level.) We have a longer-term triangle (green), which has been unable...
Note: I'm new here, and this is my first published idea, so thoughts on the below much appreciated! Larger overall correction cycle (purple ABC) still in play. We have a triangle (blue) closing in on the tip, leaving not much space to play with before a breakout. I think we're around the completion of wave 3 within the larger wave B. From there, we have two...