thekevin

thekevin

Should find out soon but providing the bulls are still here, they would want to use the impulse from this wedge break to also take out the recent wave high. I have cloned the height of the wedge for a target area. Not a lot of time for this to happen other wise I would call it a false break out.

thekevin

I still believe us to be in a macro wave 4. Sadly this wave 4 has been massive and nearly a year long so far. The wave one's 1.618 extension and the current wave three's 0.236 retrace happen to overlap. This should and will be strong area of support. If this holds then we are either experiencing an A-B-Truncated C for the wave 4 retrace or some sort of ABCDE that...

thekevin Updated 

There appears to finally have been a minor impulse wave since the move down began. Targets are around 43 - 45k. Then it will either make a higher low or simply go lower again. I will post the 'higher resolution' of the minor wave in the comments as it was on 1minute charts and TV doesn't let you publish any ideas under 15minute time frames. Set-up invalidated...

thekevin Updated 

There is a minor short term descending wedge within a major multi-month wedge. One break should lead into the other. I would assume a break (up OR down) soon as the wedge looks pretty cooked!

thekevin

Silver could be close to breaking upwards out of this descending triangle set-up. Would like to see it break the top trend line with volume before going full bull-mode.

thekevin Updated 

This is a potential wave count for BTC. A break out of the macro wedge with an impulse wave. This wave has now retraced to the .768 fibonacci.

thekevin

If this is the beginning of a larger impulse wave; expect a 1-5 impulse into the overhead resistance then a higher low (wave two) to confirm a bottom. Prices and times of this wave as outlined are purely conjecture to show a road map.

thekevin

Despite of today's drop in BTC, (which I personally believe the bottom is now in) bitcoin dominance has also dropped. When BTC proves to the market that it hasn't died it's umpteenth death I expect alts to far outperform. BTC weakness could be due to a steep rise in the DXY (dollar index). However, retail-driven altcoins care less about the macro financial landscape.

thekevin Updated 

Providing this count is correct we have had a major wave 1,2,3 and currently finishing the 4 before the final 5th up. Wave 1. An A, elongated B, C as a 3-3-3.(wave 4). Wave 3. A, elongated B, C The count would be as follows: Wave 1. Corrective - A, elongated B, C. (3-3-3) Wave 3. Corrective - A, elongated B, *currently doing the C*. (3-3-5) This count would...

thekevin Updated 

Providing the floor holds here it looks like we have a 3-3-5 abc correction. Time to move up soon hopefully!

thekevin Updated 

The dollar looks to be in a rising wedge formation (bearish set-up). The RSI is also running out of steam with lower highs. It could bull trap above the wedge before breaking down with a wick or two. It could also simply topple over soon and end up falling out the bottom trend line. Looks likely to decide by early November. Remember, a falling dollar is good for...

thekevin

Silver appears to be finding support around a longer term area of horizontal price action. Also looks to be near the end of a descending wedge. The RSI also appears to be making a bullish divergence and double bottom (inverse head&shoulder?) formation.

thekevin Updated 

The grey line represents the major fibonacci extension level from the wave 1 (refer to my last post for a better look at that). The green line is a major horizontal support line. I see a potential higher low to be made. The fib extension acting as short term resistance and this horizontal line acting as support. After this, the wedge could break upwards. ...

thekevin Updated 

It looks like we are in/ending a wave 4 correction. If the fib levels are to be taken as any serious indication - it has held incredibly well which we can assume is a bullish sign. Below I will zoom in to show the importance of this Fibonacci support.

thekevin Updated 

Silver has had a shallow retrace to the .236 level of the first wave. Providing an upside break of this ascending triangle (and hopeful retest as support) this would be a great set up to push towards the next Fibonacci extension levels (posted below). The line target is a clone of the height of the triangle.

thekevin Updated 

HEX is coming up to a major fib extension of the 1.618. I would expect this level to act as resistance or support once broken through. I believe we are in the 'macro' wave 3. (see link below for detailed chart).

thekevin

Be aware that the Fibonacci extension levels are different depending on which exchanges you look at.

thekevin

ETN has broken out of and retested a descending wedge. The price is also holding a major fibonacci extension level. Looking good for further upside!