Elliottwaveanalyis
ArbUsd Elliott wave countTwo scenarios for Arbitrum.
Black count where we have a finished impulse to the upside and we are going down to complete wave 2 if price clears 1.5427.
Orange count where if price clears 2.0883 may be a tringle ((4)) and we are focusing to the upside to end wave ((5)).
On this count we used log scale!
Bitcoin Elliott Wave Analysis: Potential Resistance AheadBitcoin's recent performance has been nothing short of impressive, with the cryptocurrency reaching a new All-Time High (ATH) of $73,777 over the past week. However, as it encounters a significant zone of supply between $66,401 and $69,000, the current price action suggests a formidable challenge ahead.
Despite multiple attempts, Bitcoin has struggled to breach this critical resistance level, indicating a potential weakness in buying momentum above this range. Notably, the formation of a potential pin bar further underscores the reluctance of buyers to drive the price beyond this resistance zone.
Adding to the complexity of the situation is the observation of volume dynamics. Throughout the uptrend, volume has remained relatively low. However, at this particular point of supply, volume has surged to its highest level, signaling heightened trading activity. This divergence in volume behavior could potentially indicate a shift in market sentiment and a looming reversal.
Furthermore, recent price movements have seen Bitcoin hovering above the 1.05 Fibonacci extension, potentially validating a B wave within an extended flat correction pattern. Such a scenario could pave the way for a subsequent C-wave, projecting a downward movement in price with a target around $11.7k.
Given these technical indicators, traders should closely monitor the ongoing battle between bulls and bears at this critical supply zone. A failure to decisively breach and sustain above this level may not only signal a halt in the current uptrend but also suggest the onset of a corrective phase in Bitcoin's price trajectory.
LinkUsdt Elliott wave count
Watching for evidences for a deep retracement as 5 waves up ended 22.90.
Link may start a deep retracement wave 2.
RSI divergence may signal wave 5 finished 22.90.
Possible target 0.382 fib retracement for wave 2 where we have also wave 4 retracement.
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OceanUsd Elliott wave countAbove 0.57564288 we are looking to the upside to complete wave ((3)) of wave 3 with possible target 1.36 USD zone (1.618 fib extension) of the wave ((1)) of 3.
We used log scale on this count!
Bitcoin Elliott wave Daily updateFurther, impulsive-looking price action, will add credence to the bullish scenario, and suggest wave (iii) of 3 upper is underway.
Wave (ii) may have ended at 2917.14, if so I expect a swift ascent over the coming sessions to suggest an impulse upper is extended, wave (iii).
We can keep the focus up against 24750 in a still-extending wave (iii) of 3,looking for price to aim for the 1.618 projection between waves (i) and (ii).
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EUR/USD Bearish - Beginning of Wave 5 on DailyThe 1D Chart shows EUR/USD beginning wave 5, which is the lowest of the impulse waves (in a bear trend -it is the highest in bull market).
This suggests the EUR/USD pair will return to the channel and continue a downtrend towards 1.067-1.041 over the next several weeks.
More EW of this pair in different time periods to be published shortly.