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Correction

Next stop 30-35K , when the big drop will happen?Sitting in a support inside 27K Calm your hype; we aren’t in a bullrun yet and the botttom isn’t in. The correction and bear market isn’t over yet. This is the perfect time to buy and then bitcoin should ride off along to get to the top which will take awhile; I see this as a long term. Please use proper risk management of your own. When the big drop? Big drop we should expect around 34K-36K then long term downside and correction respecting resistance back n forth. Then bitcoin will bottom in around inside $10K area of inside sound 8000$ area. Should bottom in a month before the halving in 2024 and bull run will begin from there BITCOIN HALVING DATE/DEADLINE: April 27th,2024 If missed any my recent post it be link related below. Trade safe y’all and watch reversals
BITSTAMP:BTCUSDLong
by JoyBoyVegae
1
Broken Channel Support On EURUSD Can Cause Deeper Correction“USD is turning up vs EUR ahead the US debt-ceiling deadline. EURUSD pair breaking the trendline support“ The USD is higher while stocks are still somehow sideways. The reason for the higher USD can be optimism and speculation about US debt-ceiling. We expected that they will approve it, otherwise, this will cause a lot of damage on the financial market. Yellen has repeatedly warned that »failure by Congress to raise the $31.4 trillion federal debt limit could spark a “constitutional crisis” and would unleash an economic and financial catastrophe for the U.S. and global economies”, as reported by Reuters. USD is trading higher with US yields, and it appears there can be more USD strength coming when looking at the EURUSD pair. From Elliott wave perspective, every five-wave impulse from lows/highs suggests a change in the trend, but most importantly, after every five waves there comes a three-wave correction. EURUSD has been trading higher as expected and reached a new 2023 high, where we still think that pair can have now a “temporary” failure break to the upside, which certainly can be the case as recovery seems to be slow and overlapping up from March 1.0517 low. So, latest leg up EURUSD from 1.0517 low, can be an ending diagonal in wave 5 of a higher degree five-wave bullish, which is also a very strong bullish reversal pattern. Now that EURUSD is turning down, we can also see the pair trying to break out of an important Elliott wave channel support line after a bearish divergence between highs of wave five and wave 3 which is usaully the case at an important top of an impulse. That said, we think that a higher degree correction can be underway now with next ideal support for the EURUSD this year visible at the former wave (4), 1.05 support area.
by ew-forecast
2
Reminder for Ethereum buyersSame for bitcoin but for Ethereum is a bit different. Ethereum had made of its own roadmap; so it’s going to be a bit of a roller coaster. 400-550 area is the bottom for Ethereum. The blocks from it going to be incredible before bitcoin halving in April of 2024. History is slowly repeating itself of all cryptos ( some of it had gone there before). The new uptrend needs to be created ASAP; old trendline couldn’t hold much longer but has to create new lows & new bottom to form an stronger uptrend. The new high for Ethereum is $10,000 but I can see will hit $5,000 more before 2030. Overall: The buys going be short and mid term just to meet resistance before the big crash and the bears are already back will be stronger than ever. Trade safe and watch any reversals do your thing. Let’s make this bag
BITSTAMP:ETHUSD
by JoyBoyVegae
Reminder for bitcoin buyersReminder in case forgets; 15K isn’t the bottom.. the floor from it isn’t enough strength for the bulls. The strongest floor for bitcoin to bottom in is inside $10,000 area; apparently about 10,800-10,200 area around there. It be a lot lower only if it happens we will see because experts said 5000-8800 area; could happen maybe. After the big drop the buy will be short and retrace to complete the correction; some will be short or mid term.. watch the reversals and the candles movements. Where it’s at right now should be able to hit 35 or maybe 40K before the longterm sell off downturn comes around. Anyways trade safe and let’s make that money
BITSTAMP:BTCUSD
by JoyBoyVegae
2
Elliott Wave Forecast: Dollar Index ($DXY) Rally Should FailShort Term Elliott Wave View on Dollar Index ( TVC:DXY ) suggests that the rally from 4.14.2023 low is in progress as a zigzag structure. Up from 4.14.2023 low, wave ((a)) ended at 102.23 and pullback in wave ((b)) ended at 101.02. The 1 hour chart below shows the starting point of wave ((b)). Index is now extending higher in wave ((c)) with internal subdivision as a 5 waves impulse. Up from wave ((b)), wave i ended at 101.43 and wave ii pullback ended at 101.1. Wave iii ended at 101.63, wave iv ended at 101.124, and wave v higher ended at 101.77. This completed wave (i) in higher degree. From there the Index pullback in wave (ii) which ended at 101.04. The Index then extends higher in wave (iii) as an impulse. Up from wave (ii), wave i ended at 101.83 and pullback in wave ii ended at 101.21. Wave iii ended at 102.15, dips in wave iv ended at 101.97, and now the Index is looking to end wave v which should also complete wave (iii) in higher degree. Afterwards, Index should pullback in wave (iv) to correct cycle from 5.8.2023 low before it resumes higher again. Near term, as far as pivot at 101.02 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
TVC:DXY
by Elliottwave-Forecast
1
Elliott Wave Impulse Decline in XOM Suggests Further DownsideShort term Elliott Wave view in Exxon Mobil (ticker: NYSE:XOM ) suggests that the decline from 4.28.2023 high took the form of a 5 waves impulse. Down from 4.28.2023 high, wave (1) ended at 115.64 and rally in wave (2) ended at 117.30. The stock resumes lower again afterwards. Down from wave (2), wave 1 ended at 114.45 and rally in wave 2 ended at 115.22. Stock resumes lower again in wave 3 towards 109.29 and wave 4 rally ended at 111.39. Final leg wave 5 ended at 108.15 which ended wave (3). Stock then rallies higher in wave (4) towards 109.81 and then extends lower in wave (5) towards 105.5. This completed wave ((A)) in higher degree. Wave ((B)) is currently in progress to correct cycle from 4.28.2023 high. Internal subdivision of wave ((B)) is unfolding as a double three Elliott Wave structure. Up from wave ((A)), wave A ended at 109 and dips in wave B ended at 105.80. Wave C higher ended at 110.97 which completed wave (W). Pullback in wave (X) ended at 108.1 and the stock has resumed higher again. Potential target higher for wave (Y) is 100% – 161.8% Fibonacci extension of wave (W) which comes at 113.5 – 116.8. Near term, as far as pivot at 119.9 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
NYSE:XOM
by Elliottwave-Forecast
Bitcoin broad perspectiveMost would agree that cryptocurrency is experiencing a significant correction, if not in the middle of a bear market. Zooming out, and taking the long view, what appreciation can we reasonably expect bitcoin to have? The blue trend line is the most important part of this chart. It assumes an annual return of 250% based on the trend set from August 2015 to April 2017. After that, bitcoin began a new trend resulting in gains at a pace of 1000% annually until the end of 2017. In order to get back on track to the 250% return line, BTC prices will need to reach some painfully low levels. The most optimistic curve appears to me to be the least likely.
BITFINEX:BTCUSDShort
by rgerhards
BTC - Correction Started ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we know that the correction already started as BTC broke below the last H1 low. Now what? 🏹 BTC is still overall bearish, and we are expecting a movement till the lower bound of the orange channel which is also lining up with the previous daily low in green. 📈 As per my trading style: As BTC approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) UNLESS the green daily low is broken downward. In this case a deeper correction movement till the 25,000 support would be expected. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
28
Russell 2000 (RTY) Looking to Break LowerRussell 2000 (RTY) Cycle from 4.3.2023 high is in progress as a 5 waves diagonal. Down from 4.3.2023 high, wave (i) ended at 1752.7 and rally in wave (ii) ended at 1825.43. The 1 hour chart below shows the chart starting from wave (ii) peak. The Index then resumes lower in wave (iii) towards 1731.7. Internal subdivision of wave (iii) unfolded as a 5 waves impulse. Down from wave (ii), wave i ended at 1794.8 and rally in wave ii ended at 1814. Index resumes lower again in wave iii towards 1733, wave iv rally ended at 1748.80. Final leg wave v ended at 1731.7 which completed wave (iii). Index then corrected in wave (iv) with internal subdivision as a zigzag Elliott Wave structure. Up from wave (iii), wave a ended at 1762 and wave b pullback ended at 1742.20. Final leg wave c higher ended at 1796.50 which completed wave (iv). Index resumes lower again in wave (v). Down from wave (iv), wave i ended at 1720.4 and wave ii ended at 1778.9. Wave iii ended at 1716.70. Expect wave iv to fail and Index to resume another leg lower to end wave v of (v) of ((i)). Afterwards, Index should rally in wave ((ii)) before it resumes lower again. Near term, as far as pivot at 1825.43 high stays intact, expect rally to fail in 3 ,7, 11 swing for further downside.
CME_MINI:RTY1!
by Elliottwave-Forecast
Elliott Wave View Suggests Silver (XAGUSD) Correction continueSilver (XAGUSD) ended cycle from 3.10.2023 with wave 1 at 26.08 as the 45 minutes chart below shows. The metal is now correcting cycle from 3.10.2023 low in wave 2. Internal subdivision of wave 2 is unfolding as a double three Elliott Wave structure. Down from wave 1, wave a ended at 24.78 and wave b rally ended at 25.31. Wave c lower ended at 24.62 which completed wave (w). Corrective rally in wave (x) ended at 25.48. The metal resumes lower in wave (y) with internal subdivision as a zigzag. Down from wave (x), wave a ended at 24.76 and wave b ended at 25.35. Wave c lower ended at 24.47 which completed wave (y) and ((w)) in higher degree. From there, the metal formed wave ((x)) connector with internal subdivision as a double three in lesser degree. Up from wave ((w)), wave (w) ended at 25.22 and pullback in wave (x) ended at 24.49. Wave (y) higher ended at 25.9 which completed wave ((x)) in higher degree. The metal then turns lower in wave ((y)) with internal subdivision as a zigzag. Down from wave ((x)), wave (a) ended at 24.86. Expect rally in wave (b) to fail in 3, 7, or 11 swing for further downside. Potential target lower is 100% – 161.8% Fibonacci extension of wave ((w)) which comes at 23.31 – 24.29 area. Near term, as far as pivot at 26.08 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
FOREXCOM:XAGUSD
by Elliottwave-Forecast
1