Algo has popped out of it's Base channel and is now re-testing from above. Suitable profit targets for an entry any time now are the shadow-channel boundaries (Blue parallel lines above the channel). One strategy I've been using of late is to sell 50% at the first and a further 25% at the second (if prices makes it).
Wave 4 bottom in. A cheeky 94% retracement on the W5.1. I feel from the sedentary progress so far that the +1 degree structure is a nested W1 (circled). I expect a low on this completed 5-wave move of ~$8200 before a bullish retrace for another W2.
I now have a high-confidence, high-precision wave-count on a bearish 1-2, 1-2 nested combination in progress. If this count is accurate then 30APR @ ~2972 is the top of this Bullish corrective move and it's likely to be years (if not decades) before we get back there imho. The nested wave 2 in progress currently has a little way more to go I feel. I wouldn't be...
This analysis posits a completed grand super-cycle wave 1 with a GS wave 2 in progress. The two thick Red lines highlight likely resistance to price with an apex sometime in early 2021. Based upon this analysis an 88.6% retracement is a reasonable assumption which would take price down to ~$2250.
This is my preferred wave-count for the entire BTC lifecycle so far. This analysis posits that BTC is in super-cycle wave 5, cycle wave 3. The 2013 W3 peak was followed by a break from the acceleration channel for wave 4 with support found at the 2010 base-channel shadow. The 2017 rally was a W1 internally-structured as a massively extending 5th wave (hence the...
This analysis posits a wave 1 leading diagonal in progress. The fifth wave looks to be almost complete and price will almost certainly be resisted by the deceleration shadow boundary.
I would expect wave 2 to complete @ ~61.8% retracement, likely around the end of March ready for an April bull run.
Ethereum is looking outstanding against BTC at the moment. A completed W1 + W2 and a nested W1 in progress. I would hold off a long entry until this nested W1 has completed and retraced at least 50% (sometime around March to April). I'll post another chart when I think this is ready to launch.
This analysis posits a wave C of an ABC correction in progress. The retracement of the candidate wave 1 leading diagonal is too shallow for a typical wave 2 retracement therefore my preferred wave-count now has the leading diagonal as a wave A. On this basis I would expect wave C to extend to 100% to 161.8% of wave A with resistance to be found at the deceleration...
Price is finding support at the confluence of Base channel (Blue) and 50% wave 3 retracement.
I'm looking for a W1+W2 candidate structure to 'step' out of the Deceleration channel (Red) before I open a long trade for the W5.