I'm currently using this chart to anticipate a rally by ETH against BTC. I currently have two nested wave-one candidates with a retracement of the current nearing or at completion.
I'm looking for a break above the thick Red line followed by a re-test from above to indicate a potential long entry.
My current analysis is still at an the early stage of development, however further to my previous bull/bear counter-factual analyses I'm happy to proffer with high confidence the following:
* Invalidation of the bearish scenario (~$2400 target) by base channel failure
* Failure of the deceleration channel in play since December 2017
* Formation of...
Short-term pain, longer term gain. Wave 4-of-C in progress for this particular wave-count.
I posit an initial move to ~$3520 to complete wave 4 followed by a subsequent move to ~$4750 to complete 5-of-C. The Green box represents the final target before a move down to ~$2400.
The Blue and Orange traces represent the 200 and 50 week moving average respectively...
* Elliott wave analysis using Kennedy channeling. Coloured lines represent channel multiples (Deceleration = Red) and act as dynamic support/resistance .
* This chart postulates an ABC structure with wave C in progress.
* The Green shaded box represents the target area assuming that wave C conforms to the highest probability outcome of an advance of...
* Elliott wave analysis using Kennedy channeling. Coloured lines represent channel multiples (Base = Blue, Acceleration = Green, Deceleration = Red) and act as dynamic support/resistance.
* This chart postulates a wave 4 correction of the larger downtrend in play. Wave 4 is postulated as an ABC structure with wave C in progress.
* The Green shaded box represents...
A chart I intend to use to keep an eye on obstacles for the rebound. Thick Red line should present significant resistance. Minor lines represent divisions of the deceleration channel and will also provide resistance.