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Elliottwavecorrection

Top of Wave 1 to 2, including targets for wave 2 and 3Well first two targets got hit pretty well. RSI, Vol, MACD and EMA 55 show us, that we hit the Top of wave 1 and are on a way down to 2. Target of the wave could be between 0.382 and 0.5 Fib Ret. I got my buy-orders stacked between 8000 and 8100. Target see on Chart. Bulls and bears are still fighting on the way down, we might retarced higher and wave 2 might be shorter, anyway I shorted and wait for new signals. As always: This is a hobby for me. I improve fast, keep on learning and reading. Feedback and ideas are always welcome! I am not a financial adviser, please do your own research and let me know if we agree on targets and so on. I need people who correct me, tell me why and what if I analysed something wrong. Thank you! :)
by FloTi
3
BTC - Now entering wave 3, going to 6.3k USD.Giving you an update to our previous bitcoin price prediction, in which we discussed how bitcoin might be entering its fifth ((5) time scale) and final momentum wave down. Looking at the bitcoin price right now, it seems to be that the correction wave 2 has ended, showing us a beautiful zigzag pattern ((a)(b)(c)). Even though timing might be off, the prediction of 9800 USD was absolutely spot on! It seems that we are now entering momentum wave 3, which ends near a price of approximately 6300 dollar. This is also a support area and our previous low from February the 6th. MACD and RSI both have room to go into lower regions. One note, the green trend line in the MACD oscillator has yet to broken downwards. Prices could bounce and a close eye on the price is required. Original post:
BITSTAMP:BTCUSDShort
by DeWit
4
Bitcoin #BTCUSD - correction about to complete?Let's take a look at the Bitcoin technical picture at the H4 time frame. The market is about hit the projected target zone for the wave (c) of the wave (2) and now it should bounce form it in order to test the local technical resistance at the level of $9,434. The market conditions are now oversold, so it should help to bounce in the short-term. Nevertheless, if the zone between the levels of $8,184- $7,703 is broken, then the next technical support is seen at the level of $7,464. Green scenario - wave 3 to the upside progression. Red scenario - decline to the swing low development.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
10
Litecoin Tumbling, calling a Three Wave Correction!Called a Failed 5th Wave on $LTCUSD about six hours ago via twitter, just trying to plot out where it might tumble down to for some buying opportunities. My guess is the C correction wave will end around $187 range. Green box shows where I'd plan to ladder in a long for a wave up. Should be fun! Note: I am very new and learning. Do not take this as advice or anything other than practice. Please feel free to let me know what you think. Any constructive criticism is welcome! - Foul Mouth Muggle
COINBASE:LTCUSD
by foulmouthmuggle
7
LISK #LSKUSD - possible rally ahead?The price of LSKUSD is about to complete the three waves corrective cycle around the level of $18 and then an impulsive rebound is expected. The impulsive scenario is valid as long as the supply zone between the levels of $12-$16 is not clearly violated. The projected level for up waves are: - wave 3 - the level of $34 - wave 5 - the level of $40. Please notice, that the market is trying hard to break out below the projected Fibo cluster at the level of $18.31, but so far no avail. This is very important clue regarding the further wave progression. On the higher time frames, the uptrend prevails, but it is not developing in an impulsive fashion.
LLong
by sebastian.seliga.7
1
Bitcoin #BTCUSD - about to explode higher?The price of BTCUSD has just made five impulsive waves up to the level of $10,900 and now is developing an internal, short-term correction. This corrective cycle should not move below $10,000 zone and after the correction is completed, the market might easily explode upwards towards the level of $12,030, and then towards the level of $13,400. Please notice, the correction might not be as simple as ABC in the mentioned wave 2, but might evolve into more complex and time-consuming correction. Nevertheless, the overall structure should not go below the support at the level of $9,875.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
8
Bitcoin #BTCUSD - two possible scenariosDue to the fact that the current downward correction on BTCUSD is quite extensive in time and in the price, I decided to present two potential wave scenarios: Scenario 1 (main): The growth impulse from the level of $ 5,930 ended with three waves and the current correction is a wave 4 of the entire growth impulse. The maximum range of this adjustment is 50% Fibo at $ 8,850, below this level the adjustment will be invalidated as too deep. Wave B (pink) correction may have already ended or it will end around $ 10,953 and only then there will be a drop in the C wave (pink). Wave 5 (pink) is still expected. Scenario 2 (alternative): The growth impulse from the level of $ 5,930 ended completely and wave 1 of this impulse was the Leading Diagonal. The current correction is wave 2, which can reach even $ 8,158 with its range. After the completion of the wave 2 correction, a dynamic increase in the price in wave 3 is expected, which will easily break the level of $ 12,030.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
6
LISK #LSKUSD after rebranding, now what?The highly anticipated LISK rebranding event has passed away and the question remains: to hodl, to sell, or do nothing? According to the Elliott Wave Principle, the current situation is still in favor of another wave higher, but first, the correction must complete. The first level for the corrective leg dow might have been reached at the level of $23,55 which is a 1:1 correction of waves (a) and (c). Nevertheless, the drop might extend towards the level of $23.03 and then $21.07. In the extreme situation, the last target projection is a zone between the levels of $18.31 - $17.08. This is where the first upwards wave might start to unfold. Please notice the corrective cycle might get more complex and time-consuming than a simple (a)(b)(c) correction.
L
by sebastian.seliga.7
1
Bitcoin #BTCUSD - impulsive gains towards $12k ahead?The attempt to insert an impulsive scenario ended with a hyper bullish growth count. Sequence of 1-2, (1) - (2), (i) - (ii) is a typical, impulsive, strongly upward wave progression, which assumes very rapid increases in wave 3. If this count is correct, then the price should grow very fast in the direction of $ 12,000, and even higher, without making deep corrections. On the other hand, the alternative count assumes a complex wave correction labeled as wave (B) in the form of the Triple Three WXYXXZ, the top of which should fall in the area of just $ 10,800 - $ 11,200. From there, the price should start to fall sharply, breaking levels of $ 10.297, $ 10,000 and $ 9.707, respectively.
BITSTAMP:BTCUSD
by sebastian.seliga.7
11
ETH Current Wave 4 Correction and Possible ScenariosETH is currently undergoing wave 4 (correction) that was expected in my previous post. Following this correction, there is a possibility for a 3rd actionary wave (impulse sub-wave 5), which might encounter heavy resistance from the long-term downtrend. The correction is likely complete above the 910 support level (marked by the olive line, 0.5 fib), which is also the beginning of wave 1 territory. There is also a hard resistance line in yellow (0.786 fib), in which going below might yield greater odds of beginning a combo correction (WXY) or maybe cause a continuation of the larger degree downtrend. For now, it is unclear when this correction will be completed and whether or not it will be able to remain above these crucial levels. Possibilities for the types of corrections include but not limited to the following: Truncated ABC correction Double bottom ABC correction Zigzag ABC correction Any horizontal correction pattern or combo corrections
KRAKEN:ETHUSD
by madwarrior
1
CND continues to correct In Elliot wave, corrections are often in a channel with multiple overlapping waves. The rule states that these waves will eventually be completely retraced and that price will eventually go above the previous impulse wave. Assuming this is a second wave correction, second waves often retrace atleast 61.8% of the previous impulse wave( wave 1). This is the case with CND right now. Price is in a channel correction. How do we trade these corrections? It has pierced the 50% retracement level so we are looking at price to at least go to the 61.8% retracement. Aggressive entry would be to ladder (buy) into a position at the 50% 61.8 and 78.6% levels. A conservative approach would be to wait for confirmation of a reversal. The first sign is a small impulse wave in the opposite direction of the correction. Another sign is a strong break of channel with good volume. Another possible sign is a head and shoulders formation. Each of these signs could be used as a reason to closely watch a pair, or could be used to enter into a trade.
C
by BRETTGUS1
3