jackrabbitrage

jackrabbitrage

This is the sequel to my previous idea . The support line of the diagonal triangle has finally been broken. The coordinate of point (A) was erroneous, so I corrected it. TOTAL and Nen-star patterns formed. Recommended TPs unchanged (see also gray-color zones of the Fibonacci extension.) For details, please take a look at the related ideas below.

jackrabbitrage

This is a sequel to my previous idea . The diagonal triangle's unexpected, extended wave 5 (possibly an expanding diagonal) morphed the bearish white swan into a bearish anti-butterfly. The basic strategy stays the same, but the basis for calculus would be slightly different. Target is unchanged anyway. If this breakout forms wave 5 of the impulse, a drop...

jackrabbitrage

We may witness a fractal move of the daily chart as wave 4 of a potential bearish impulse. A bearish expanded flat (possibly a running flat) is expected with a bearish White Swan harmonic pattern. SL above 23300. Recommended 23350 (see the trendline right up). TP 22400-22700. I also predicted wave 2 would be an Elliott flat, which revealed it was not (it seems...

jackrabbitrage

If the struggling BTC holds on to the support and shows its final flutter, it may form an expanding, possibly running flat as wave 2 of a progressive downward wave. Such a movement may form a Deep Crab harmonic pattern. Just an idea and could be easily invalidated, but if BTC had formed a larger expanded flat on a higher level, it wouldn't be so surprising that...

jackrabbitrage Updated 

I've posted many times on this exactly the same counting in the sense of the Elliott wave theory. This time I elaborate on it. In this hypothesis, we are in X of WXY, whose bottom could be 7500 +- 2000, a roughly 1.236-1.272 retracement from the 65k & 69k double tops or the inverted A&E. This double zigzag should be a global 4th wave. This scenario will be...

jackrabbitrage Updated 

There is a scenario branch in a lower timeframe, even if we are on a bearish path. What is this triangular shape? i) Triple three WXY as bearish wave 2. I'm in support of this scenario. Likely to fall from around 25200. ii) Triangle ABCDE or 12ABCDE as bullish wave 4 of wave 5. The ceiling is 25600-25900, but I am skeptical of BTC making a new high before the...

jackrabbitrage

Is this an expanded flat, a corrective wave in the Elliott wave theory? If so, we should already have seen a similar, possibly fractal, formation on our daily chart . If this is the case, what will happen? One of its consequences would be the commencement of another downtrend (I have already examined this scenario several times. see the links). Otherwise,...

jackrabbitrage

Overall, everything is going along with our predictions. BTC formed a bearish Seahorse , metamorphosing into a bearish Dragon , substantially achieving its target, and then testing one of the parallel channels effective for months. I presented the idea of forming a triple zigzag with a pitchfork, but the chart also seems different. If this 21400 level holds,...

jackrabbitrage

BTC got rejected at 4H Ichimoku cloud, and the bearish dragon pattern is still valid. With its cleanest theoretical target being a .786 retracement of XC, the prescribed bearish movement is likely if the price fails to mark a new high. Considering parallel channels serving as S & R for months, a WXY formation (double zigzag) would be a candidate movement....

jackrabbitrage

This is a sequel to my previous idea . As we predicted, BTC substantially formed a bearish seahorse pattern, which induced a sharp drop already matching a roughly 1.5 BC extension from point D. I expect a bearish dragon follows next. The target is 0.786 retracement from the top to the "tail" (point X) of the sea horse, which is approximately the 21200-21250...

jackrabbitrage Updated 

BTC looks bearish with a bearish sea pony harmonic pattern forming on the 4H TF chart. We've already got a retracement to the level of point B, which is a typical target of the pattern. However, sea pony patterns often develop into a more powerful bearish pattern, the sea horse. Sea horse's TP is 1.618 extension of BC from point D. But, as the chart shows, such...

jackrabbitrage

In my previous ideas, I examined the possibility of the daily BTC chart forming a double zigzag, WXY, of which an X-wave may be about to complete. This hypothesis has yet to be invalidated. X-waves often become what Elliott called flat corrections- so let's check the characteristics of a flat correction. As the name implies, a flat corrective wave has ABC waves...

jackrabbitrage Updated 

This is an alternative to my previous idea . If 23k is a significant pivot, this reading will present a more convincing confluence. I overlaid a Fibonacci Channel parallel to Gann Fan 8 x1 and horizontals tangent to the arc. Difficult to adjust chart sizing in posting. Please scroll and expand the chart horizontally for the visibility of individual candles....

jackrabbitrage

Gann Square, as applied, has exhibited surprisingly accurate S & R zones. If this hypothetical mapping of potential pivot zones is still effective, BTCUSDT will challenge the next arc at around 25k, which is obviously a significant resistance zone. From my personal experience, tangents to arcs, among other trendlines, often serve as S & R, at least for a short...

jackrabbitrage

Right now, BTC is experiencing a correction. If this is merely a pullback, it will rise again and break the narrow, right-descending channel. Will the bulls truly regain control in that case? I know that I am making assumptions on top of one another. Still, given that there is a recovery to 28k, turning back at the 1.382 retracement or a pitchfork channel (light...

jackrabbitrage

ETH is here. I don't rule out the possibility of a further breakout, but I see a potential for a pullback, at least. For those who hate arcs, look at the daily RSI (14), blue, in the indicator pane. Gann Square and Arcs is a built-in drawing tool of TradingView for technical analysis. Trollers will be immediately reported.

jackrabbitrage

There is the market observation that the BTC price has already bottomed out. True, the solid rebound for around 21500 was reminiscent of the start of a new uptrend. If we are already in at least a short-term one, as the bulls would believe, expecting a retracement back to 0.618 (35712), 0.786 (41214), or even 0.886 (44489) level first is convincing. Here,...

jackrabbitrage Updated 

If the green pattern (bullish dragon) in 4H TF is validated, BTC might see some bullish momentum, possibly a new-year relief rally. Bullish dragon typically forms a bearish Harmonic pattern, such as a Gatrley at around 0.786 retracements. However, if that possible upside is the remainder of an unfinished result of the adjacent bullish anti-Butterfly (blue), it...