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TRXUSD: Tron Can Be Unfolding A Five-Wave RiseHello Crypto lovers! As you know, we are still bullish on many cryptocurrencies, the only difference is that some of them are looking for wave 3 and others for wave 5. Tron is one of those, which are looking for wave 5, as you can see on this 4hour chart. So, BINANCE:TRXUSD can be unfolding a five-wave cycle after we saw sharp and impulsive rally from 0.02269 lows towards 0.1010 level. Wave 3 is usually the sharpest and the most impulsive wave, so we are not surprised that we saw only a three-wave (A)-(B)-(C) correction back to a previous wave (4) support, which gives us a signal that this is just another wave 4 of a higher degree, so wave 5 towards new highs should follow and as you can see, it can be already underway. So, be aware of more upside and even if stays sideways here, we expect that sooner or later Tron will see new highs above 0.1 level. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:TRXUSD
by ew-forecast
11
SYSUSD: Syscoin Is Forming A Recognizable Pattern!Hello Traders! We found very interesting coin with a known pattern and that's BITTREX:SYSUSD ! Well, as you know we are tracking many patterns like this one, for example NEO, OmiseGO, Ripple and Dash, which have, in our opinion a clear bullish setup. Five-wave rise into wave A/I from lows suggests a bullish reversal and slow three-wave pullback into wave B/II means correction. So, if we respect the price action and EW theory, then wave C/III up is a third wave of a minimum three-wave expectation. In any case price can go back to highs, but as we know wave III is the strongest and the most impulsive wave, so who knows how far can explode. As you can see, Syscoin already jumped from very nice 0.35 support level around ideal 61,8% Fibonacci retracement, which means that correction can be completed, but we want to see a break above 0.49 level, which would confirm a new bullish cycle for wave C/III. We will remain bullish, even if price goes lower below that support at 0.35 level, as long as it's trading above 0.24 invalidation level. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SEducation
by ew-forecast
1
NEOUSD: Neo Looks Corrective Within UptrendHello Crypto lovers! We have seen a sharp and quite impulsive bounce from April lows on BINANCE:NEOUSDT . Five waves up can be unfolded, which gives us the first evidence of a bullish reversal into wave A/1. As we know, after every five waves, a three-wave pullback follows. So, at the end of April price slowed down and dropped into correction, as you can see, with three waves (A)-(B)-(C) back to around 61,8% Fibonacci retracement into wave B/2, which is actually ideal reversal zone in EW theory. That said, this could be a very nice bullish setup for wave C/3 towards new highs, but first we want to see an impulsive bounce and for now we are just watching and waiting. If we get that bounce with five sub-waves, then this could be a good evidence that NEO is turning back into bullish mode, especially if breaks above previous wave A swing low at 78 level, because this would be our bullish confirmation and we could see much higher levels above 100 for wave C/3.
by ew-forecast
3
LTCUSD: Litecoin Is Showing Bullish SetupHello traders! What a perfect bounce on Cryptos and also BITFINEX:LTCUSD ! As you know we were expected a three-wave A-B-C correction down to ideal 61,8% Fibo. retracement, which seems to be completed after perfectly reached our support projections. It's very important to look at correlations between cryptocurrencies and we talked a lot about that in past updates. So, after nice bounce, it's time for Bulls and after completed correction, we always look for a minimum three-wave recovery, until we see it's bullish confirmed and as you can see, it's already trading higher for wave c/iii, but for bullish confirmation we need something more! First evidence would be a break above channel resistance line, but we strongly suggest to wait for a break above 217 bullish confirmation level, which could lead into wave iii towards 230 level or maybe even higher into new highs above 252 level, so currently we remain bullish as long as it's trading above 158.5 level!
BITFINEX:LTCUSD
by ew-forecast
13
XMRUSD: Monero Still Looks Bullish After Three-Wave CorrectionHello traders, After spike down on Cryptos we took a look on some ALTcoins and saw interesting pattern on BITFINEX:XMRUSD . As you can see on daily logarithmic scale chart, Monero still looks bullish despite big correction since December 2017, so seems like five-wave rally is not completed yet. On 4hour chart we are tracking wave IV correction, which seems to be completed with potential double bottom pattern, ending diagonal into wave C and also very nice and strong support level around 150. So, we expect that Monero will continue it's uptrend into wave V towards 680 level, just keep in mind that Bulls will be confirmed only above 450 level! On hourly chart we are tracking five waves up into wave 1, which would confirm that bottom of wave IV at 150 level can be in place, so be aware of a three-wave pullback into wave 2 back to around 200-250 level, before continue higher. If Monero from any reason breaks below 150 strong support level, then we may adjust the view!
BITFINEX:XMRUSD
by ew-forecast
4
LTCUSD: Litecoin Is Trading Bullish Within Five WavesWhen we look for reversals, it's very important to wait for confirmations, which in our case would be five-wave rally. If we take a look on 4hour chart, we can see a potential “Double Bottom” pattern, from where we clearly see a five-wave cycle in forming towards 250-260 levels, which would confirm that bottom can be in place. But if from any reason sharply drops below 155 level, then it would be only three waves up and bulls would not be confirmed yet!
BITFINEX:LTCUSD
by ew-forecast
23
ETHBTC Can Be In The Final Stages Of CorrectionBITTREX:ETHBTC looks pretty clear with five waves up from lows and regular 3-3-5 three-wave A-B-C correction. ETHBTC currently trading in wave (4) of C from where we expect another decline into wave (5) of C towards 0.070 psychological strong support level, where ETHBTC may come to the end of correction. Just keep in mind that we need impulsive five waves up from that projected support and break above 0.100 level to confirm bullish reversal!
by ew-forecast
12
ETCUSD: Rebranding Ethereum ClassicHello traders! We got a lot of requests about our view on BITTREX:ETCUSDT due to upcoming rebranding. So, from technical perspective ETC looks bullish after we saw a big three-wave A-B-C corrective decline from highs. Even if ETC lost more than 60%, still looks corrective within uptrend. So, as you can see ETC has already broke channel resistance line and it's currently trading within sharp and impulsive waves higher, so we expect even more, but be aware of pullbacks which may happen after completed five-wave rally. If we take a look closer, we can see ETC trading in wave (4) correction, which may test 30 level before continue higher. We will keep you updated!
by ew-forecast
28
LSKUSD: Intraday Impulsive Rise On LISKHello traders, we are here for you even on Saturday! Having a cup of coffee we are going through some Cryptos to see what's going on and we saw something interesting. Well, as you can see BTC went sharply higher while some ALTcoins stayed sideways and many traders started to speculate, that correction can be completed at this stage, but we are talking all the time that wave structures and patterns are the most important to recognize direction! And as you can see, wave structures are very sharp and impulsive, so we cannot say yet that Cryptos will go down here, especially when we take a look on BITTREX:LSKBTC , which has clearly bullish pattern for much higher levels towards 58 level, especially because it's bullish confirmed with broken channel resistance line. Actually, LISK is not a leading cryptocurrency, but based on structures and targets on other cryptocurrencies, we think that Cryptos is not going to stop just like that and we don't expect any significant decline, so we think that rally will continue and any short decline will be just a temporary pullback within uptrend!
LLong
by ew-forecast
9
BITCOIN CASH Bounced; Bullish Reversal Is HereBITFINEX:BCHUSD lost around 80%, but decline looks like correction within uptrend. Why? Well, there are many factors. If you take a look on weekly chart, you can clearly count five waves up from lows, which means we are in a bullish trend. When BCH hit 4000 at the end of December into wave (V), there was a sharp drop and correction has barely started, because typicaly in EW theory after every five wave impulse, a three wave retracement is required. After sharp drop into wave (A), there was corrective move into wave (B) and then slow falling range within ending diagonal pattern (reversal pattern) into wave (C). BCH hit our expected target and important support at previous wave (IV), mentioned many times and highlighted in previous updates! So, currently BCH bounced nicely within 5 subwaves into wave i/a, which is another sign that correction can be completed. But we have to be careful, so first, we have to respect the market and look for minimum expectations, we are expecting minimum three waves up A-B-C or 1-2-3. If BCH after only three-waves up sharply drops, then this will be only a correction, but if goes up with five waves and break above 1790 bullish confirmation level, then BCH can be in bullish trend again and can be on the way up to a new all-time highs!
B
by ew-forecast
10
LITECOIN Can Be Underway Below 100On BITFINEX:LTCUSD we can see sharp decline into wave (a) and then slow sideways corrective move into wave (b) back to ideal 61,8% Fibonacci retracement. Current drop from wave (b) resistance looks like motive wave, which should be completed within five waves into wave (c) and as you can see, there is still room for more weakness towards 95-80 support zone, especially according to correlations with other cryptocurrencies, where we also see room for lower levels.
BITFINEX:LTCUSD
by ew-forecast
6
VTRBTC(vTorrent) Showing Bullish SetupWe went through some XXX/BTC crosses and saw interesting pattern on BITTREX:VTRBTC (vTorrent). Well, since we saw a potential bottom on cryptocurrencies, there's some new opportunities on ALTcoins and one of them is vTorrent, which has clear five waves up into black wave A and three-wave correction into black wave B. Currently you can see it's already bounced from ideal 61,8% Fibo. reatracement and psychological 0.000050 level, so we expect much higher prices, especially if breaks above 0.000093 bullish confirmation level. Any decline will be just a temporary correction within uptrend!
VLong
by ew-forecast
9
ETHEREUM Showing Bearish SetupBITSTAMP:ETHUSD just like BTCUSD has clear corrective intraday structure within downtrend! So, we are tracking deeper a-b-c correction in which we can clearly count five waves down into black wave "a" and then slow sideways corrective move within black wave "b", which seems to be completed exactly at 61,8% Fibonacci retracement, which is actually ideal retracement for wave "b" in EW theory. Currently ETHUSD falling nicely from that resistance, so we assume that price heading much lower into black wave "c" within five waves down towards 500 level, where black wave "c" can be equal to black wave "a".
BITSTAMP:ETHUSDShort
by ew-forecast
31
BITCOIN Did Not Bottom, YetAs expected BTCUSD fell down into wave (c) a third leg of decline that we have been talking about a lot in our past updates. Wave (c) is a motive wave, so it must be made by five subwaves before we may even consider that correction is finished. Well, if we take a look at current price move on BTCUSD we see very slow structure, thus it’s probably just a wave 4 within still ongoing wave (c). So, sooner or later we expect new decline into wave 5 of (c), where final support zone can be between 8700 level for (A)=(C) and 6800 level towards channel support line and 161,8% Fibo. extension of wave 4.
BITSTAMP:BTCUSD
by ew-forecast
65
SiaCoin Has Clear Bullish StructureWe are looking at really nice and clear structure on SiaCoin against BTC. We are tracking wave 4 correction, because of perfect 261,8% Fibo. extension of wave 1, which is ideal for impulsive wave 3. From January 06, we can see slow sideways move within three waves w-x-y down, back to ideal 38,2% Fibo. retracement and also test of channel resistance line. BITTREX:SCBTC actually found perfect support at psychological level 0.000004 for wave 4, so we expect more upside in coming days into wave 5 towards 0.000008-0.000009 levels. If from any reason drops below 0.00000278 invalidation level, then we may adjust the view.
Long
by ew-forecast
4
BITCOIN Showing Bearish SetupWe want to show you our view of a typical and perfect Elliott Wave setup on a lower timeframe. So, as you can see, BTC turned sharply from highs and we can clearly count five waves down, which is our signal of a trend reversal and in EW theory is called Impulse wave. Then we can see a clear three-wave regular 3-3-5 correction, with three waves up into wave (A), three waves down into wave (B) and now we are heading into wave (C) with five waves up towards resistance zone 17500-18000, where we also see important 78,6% Fibonacci retracement level and equal legs of (A) = (C). As always, to find the right entry position, we always wait for confirmations. Confirmations are very important, because signalize that we are on the right way, so in this case our confirmation would be a break beneath 14000 level, so if BTC break under 14000 level, we expect even more weakness towards new lows, where next target can be around 8000 support level or maybe even lower. As said above, we are bearish, and will keep looking lower unless 20k is broken out. Then we may adjust the view.
BITFINEX:BTCUSD
by ew-forecast
37
Ripple Found Support After A Three-Wave SetbackBITSTAMP:XRPUSD made nice three-wave correction back to previous wave IV with (a) = (c) equal legs and hit exactly 1.60 level as we expected. This is actually perfect setup in Elliott Wave theory and exactly, what we are looking for trading opportunities. But we have to wait for confirmation, which is a break above channel resistance line and to be sure we need a break above 2.80 level, which would confirm that Ripple is back in bullish trend. If Ripple from any reason breaks lower beneath 1.60 level, then we may adjust the view.
BITSTAMP:XRPUSDLong
by ew-forecast
26
OmiseGO Showing Bullish SetupBITFINEX:OMGUSD is showing clear bullish setup, since we saw a big spike down 2 days ago to around 78,6% Fibonacci retracement. So, from July to September we clearly see impulsive rally with five waves up into wave 1/A and from September to the end of November we see nice and clear three-wave (a)-(b)-(c) correction into wave 2/B. This is ideal pattern for bullish trend in Elliott Wave theory. So, we expect that "Omise will GO GO" towards new all-time highs into wave 3/C, where we see first target around 16 level, just keep in mind that bulls will be confirmed above 10 level!
BITFINEX:OMGUSDLong
by ew-forecast
7
VERTCOIN: Clear Bullish Triangle Pattern BITTREX:VTCUSD is forming clear bullish triangle in wave ("IV") which may end soon, because it's in a final stages of wave "e". To be sure, we always suggest to wait for confirmations. Confirmations are very important, because they give you a signal and more chances of being right! So, in this case, our confirmation is a break above previous wave "d" at 4.8 level, which could opens door for our minimum target projection at 6.8!
VLong
by ew-forecast
3
LITECOIN: Bullish Triangle Already Completed?!BITFINEX:LTCUSD broke above 70, which could be a signal that triangle is finally completed and that bulls are confirmed. We can clearly see A-B-C-D-E formation and broken upper triangle line, so we assume that Litecoin could see new all-time highs towards wave C, where we see our first minimum target and also nice psychological level 117; maybe even higher for a second target A=C at psychological level 149! If Litecoin from any reason drops below 55, then there will be something more complex and could stay sideways for a while.
BITFINEX:LTCUSDLong
by ew-forecast
5