Long

Updated

Bullish continuation

Description
- Potential last wave down for a finished leading diagonal for a wave 1/A.
- breaking 0.886fib will increase this scenario.
- If so, looking at a CKB price below $0.018 before starting wave 2/B.

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Touched the .886 at $0.018542. Probabilities for this scenario increased.

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For the record, the fith wave of this ending diagonal could be truncated. A zigzag has potentially already been formed. A five wave impulsive to the upside could confirm this.

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Possible wave B

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Broke multiple trendlines (chart, RSI 1h). Waiting for confirmation for the low to be in. As mentioned, truncated 5th is a possibility.

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Updated chart.

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Just made a new low. I.m.o. looking at a complex structure (wave Y).

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Update on Bitcoin_v0.1. Next move bitcoin could give us much more information on its trajectory. Expect a wave C (5 waves).

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A potential low might have been formed. 1.618fib ext for a final wave C at $0.016883.

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Update on Bitcoin_v0.2. ABC turned into a 1-2-3-4-5.

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This could be the start of wave 1/B. Have wave 5 finished as a WXY (double zigzag) pattern. Feel free to comment or ask me anything.

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Take notion of 3 possible Bitcoin scenario's:
1) double zigzag for a potential wave 2 (bearish/bullish)
2) double zigzag for a potential wave Y (1.618fib at $57087) (bearish)
3) leading diagonal for a wave 1 (bullish/bearish)

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Update Bitcoin_v0.3. Finished wave 1? (RSI bullish divergence w5, 4h)

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At the moment CKB is looking pretty dire. Expectations for a leading diagonal turned sour. Current scenario a WXY pattern (double zigzag) with a potential X-connector being finished (3-wave sequence). 1.38fib cross would confirm this. The Y move hereafter could bring us all the way down to $0.008.

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Some simple trading perspective on the market.

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Reassessed the Bitcoin chart and this it is currently my best guess in terms of getting ew count right. Don't know if anybody else has this count, but feel free to comment.
X wave is done and we're in wave Y.

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Similar type of structure. Still leaning towards a C wave.

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Here are some price targets for a 5th wave (assuming the low is in). Made some channeling & ew adjustments. Can clearly see that we're still moving in the base channel (minute degree). Can be considered a corrective structure or a potential wave 1 (minor).

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Update Bitcoin_v0.4. Classical indicators show a short-term bullish narative. Expect some price expension soon.

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Possible B wave. Got 5 waves down for a wave 1.

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CKB shows a potential sign of relief, but after which, probabilities are higher for more downside, bc we haven't seen any impulsive move upwards.

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Bullish divergence played out nicely, reaching both resistence levels as targets. Counting 5 waves up, supported by MACD/RSI(1h). MACD(4h) is looking good. Retracement might reach golden pocket before price continues upwards.

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Current price action can bring us to $0.01786 and $0.01861 (ABC) and to $0.0199 for a w3. If we break 0.1861 then MACD(1h) needs to make a HH. RSI(1h) looking good breaking resistance into support.

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Potential pullback for a c-wave.

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Reached c-wave target at 1.23fib yesterday. Keeping this scenario in mind.

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Some reasoning behind CKB's price trajectory.

HeftyBreadRoll

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