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Elliottwavecorrection

Bulls Waking Up SoonLTCUSDT has seen a very healthy correction thus far (along with all other top crypto). Lets see if this is the bottom or not. I've since changed my position from a 5-3-5 zig zag correction to a 3-3-5 regular flat. A few weeks ago I missed the top estimate, but nailed the severity of the correction (I think). This seems to confirm to me that LTCUSDT and LTCUSD has seen a complete overall cycle wave 1. This correction end point will mark the end of wave 2. First indication: The current price is jostling directly on the overall cycle .5 re-trace. Very popular reversal for wave 2. Second indication: It is riding its lifetime uptrend. While I expect a breach of this uptrend before beginning wave 3 to create a new uptrend, I still think this is a very good indication for at least an end to correction wave A as it presents a psychological border. Third indication: 1HR RSI shows large bullish divergence while 4HR RSI shows oversold breach. Fourth indication: Take a look at the -/+ volume in this triangle forming as compared to the last week. Traders are getting restless. I see three possibilities from this point: 1) Optimistic in Green - Begin overall cycle impulse wave 3 to 120s. 2) Realistic in blue - Begin correction wave B of overall cycle wave 2 to 70-85 region before beginning wave C down. I see this as the most likely due to the short time this correction has been running if it is truly a correction to overall cycle impulse wave 1. 3) Pessimistic in red - Charlie Lee is the devil and wants to watch the world burn with extensions of current down. Stop set to 40.5 in the event of scenario 3. Keep an eye on BTC as it's the one that seems to drive the crypto world. Let me know if you agree or not. I welcome your constructive criticism.
Long
by AngryBoris
Correction Over or More Drop?This morning BTCUSDT entered my projected buy zone. If I counted right, BTCUSDT just completed an Elliott ABC 5-3-5 Zig-Zag style correction. I feel like It's pretty close to being done as it appears to have finished directly on the overall uptrend line. This point also terminates wave ((C)) directly in the middle of FIB 0.618 and 1.0 of wave ((A)) which are two common and reliable distances for projecting zig-zag corrections. However, In light of China's ICOs trials: immediate customer payback has been ordered and ICOs have been outlawed. The way I see it, this could either cause more drop in the crypto market overall as money is syphoned out to cover paybacks or the money has already been syphoned out in preparation for paybacks meaning room to grow as customers re-invest into existing crypto. I have since changed my position from long to neutral and set buy/sell stops. BTC still seems to dictate the market for the majority of alt-coins. This correction ending or extending should spark similar reaction in most crypto. I'm keeping an eye on BTC to decide what to do with my alts. Please let me know if you see anything different or know something I did not account for. Stop buy will be set to 4600 with a stop loss set to 4100. Hopefully this covers either scenario.
by AngryBoris
XVG current wave and market predictionThere is a volatility within the current market strength/movement of XVG supported by the current BTC up-trending price. Keep your eyes on BTC price. Trade safely, good luck. For more info, Verge (XVG) website: vergecurrency.com Disclaimer: The market predictions and ideas I post are of my point of view and depends on what I see (according to the market strength and prices movements), it's subject to human error/price manipulation. Trade carefully, do your own homework. My twitter: twitter.com
Short
by CryptoSyndrome
Verge (XVG) market prediction - End of E.Wave Correction Wave(C)- Here we can see an ongoing accumulation in progress after the end of Elliot Wave Correction Wave (C). - Price has reached the bottom and retracing up is the next move for the market (depends on the points mentioned on the chart). For more info, Verge (XVG) website: vergecurrency.com Disclaimer: The market predictions and ideas I post are of my point of view and depends on what I see (according to the market strength and prices movements), it's subject to human error/price manipulation. Trade carefully, do your own homework. My twitter: twitter.com
Long
by CryptoSyndrome
3
DAX / H3 : Ending diagonal to terminate wave corrective C ?Reagarding the current counts, I think the most probable scenario would be an ending diagonal to terminate the corrective wave C. I suggested before this was too early to buy eurozone with a very bearish potential on US equities. US now tends to validate the bear scenario, and of course EU struggles to hold its supports. Plus Sinewave never showed any bull signals and on the opposite showed sell continuation cycles. All tends to confirm this bearish continuation on DAX. We need further price development to confirm the ending diagonal but that's the early scenario I'm no waiting for. Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators
FX:GER30
by PRO_Indicators
3
ETHUSD - Elliott Wave Analysis - Revised Count: Boo Hoo Wave (2)With ETH not responding to the recent short term price action in other AltCoins and BTC, I went in search of reason(s) why. Ultimately this lead me to a comprehensive data source with all of ETH's price history. This then led to a full revision of the wave count for ETH. Here's the bad news, The recent high near 400 marked the top of a 5 wave structure completing wave (1). That means ETH has entered wave (2). Boo hoo, a terrible (2). It appears that wave A of (2) may have completed with the retrace of 61.8% of the overall gain since ETH began trading. The wave B of (2) bounce is struggling to gain traction, will likely be minimal, and will take time. How much time is anyone's guess. All that is in prelude to wave C of (2), which could take ETH lower still, potentially to 100 area (or lower), if the final lower will reach to the 78.6% retracement level. Exit the majority of any positions during this bounce, or seek to find a pair trading against ETH, or if you've got real guts and can do the due diligence and required research, exchange your ETH for a newly issued token and gamble on an ICO. Wait until sentiment has reached the complete loss of faith in ETH, and it is given up for dead. That is when like a phoenix, it will arise from the ashes.
KRAKEN:ETHUSD
by RogueDave
25
BTCUSD - Elliott Wave Count -Wave 5 Alternative Count is Dead We are in Wave IV folks, it's not done yet. Here I will document the death of the imposter, the usurper, the Alternative Count has crashed and burned. Some have told a story, but the data exposed them as heretics, liars, fakes and frauds. They profess to offer wave counts, but they do not offer Elliott Wave Counts. For in Elliott Wave Counts, there are guidelines and rules, hard, immutable rules. One of those is that a wave 4, may not intrude upon or overlap into the space of a wave 1 of the same degree. Some have claimed that Wave IV ended back on July 16-17 at the 1830 level, and the sprint to 2938 marked the start of Wave V, a new bull market phase for Bitcoin. The run up to the top looked pretty compelling. It could be counted in a solid motive or impulse fashion. No overlaps or intrusions. The post high correction even counted pretty well. An A-B-C down to the 2400 level. This is where the false prophets of wave counts put a stake in the ground and declared correction, wave 2 was complete! Onward and upward!! And they got what the wanted, sort of. An upward wave started and completed at the 2825 level. The problem is it only included 3 upward waves, not 5, and then began a serious correction. The correction that would establish wave 4. A correction that proved fatal. In the count above, which contains 3 degrees of waves, the lowest is a plain digit, the second is a digit inside parenthesis, and the third degree uses lower case Roman numerals, i for 1, ii for 2, and iii for 3. After the correction to establish wave 4 had completed, a "double 3" that counted as A-B-C - X - A-B-C, it was possible to determine the level of wave 4. Only then, by examining the up move that preceded it, could a determination be made. Was wave 5 underway, and the Alternative Count valid? Like a forensic examiner, I carefully examined the up move, using very detailed 15 minute and even 5 minute charts. The best count I could come up with is above. I even tried to make it work by counting inside out. Make it a 5 wave move up, somehow. Nope. Push wave i downward. Nope, no luck. Wave 4 stuck its spear cleanly into the heart of the imposter, the usurper, the Fake Wave 5, by intruding into the only place wave 1 & wave 2 could reasonable be placed. I will soon return to update the Wave IV count. Long Live Wave IV, the rightful heir to the throne. One of the 3 scenarios I laid out is playing out. Can you guess which one?
BITSTAMP:BTCUSD
by RogueDave
13
BTCUSD - Elliott Wave Analysis - BTC Alt.CountsUgh, what a mess... While my preference is that BTC is still in macro-degree Wave IV following the 2980 high I label Wave III, I must at this point give serious consideration to an Alternate Count,(labeled here in Red ) that against reasonable Time Duration, and against the Alternation Guideline, that BTC completed Wave IV at the 1840 low. The move up to 2938 was a larger degree Wave 1, and is supported by smaller degree wave counts. Since the move up to 2938, BTC has been correcting that advance, and may have completed a near 50% retracement at the 2400 level. Since then, the move up has completed multiple sub-wave counts, down to minutia scales, terminating at a "iii" as I write this post. My current preferred count, is that BTC remains in Wave IV, a Flat pattern, which is in lesser degree wave 1 of 5 of C of IV. At a macro level, Flats occur and take a wave count 3-3-5. (3 waves to reach A, 3 waves to reach B, and 5 waves to terminate at C, all of which can be broken down and are composed of sub-waves in a fractal manner.) The Wave IV preference is guided by the Alternation Guideline and the Time Duration appropriate to this degree of correction represented by Wave IV. Under the theory of a continuing Wave IV, my current preferred count in in Blue . The emerging pattern for Wave 1 of 5 of C of IV, is an declining or falling, expanding triangle, with 4 of 5 legs completed. Alternate to this remains the impulse or motive push downward to retest the former lows at 1840.
BITSTAMP:BTCUSD
by RogueDave
BTCUSDT Wave (5) Structure POLONIEX:BTCUSDT The wave (5) structure looks complete with further 5 subdivisions however the upward channel still intact as I am writing. Breakdown of the channel will further confirm if Wave A had been started while breakdown above 2913 will negate this scenario. Another alternate is that wave (iv) is not complete and forming a triangle which will end up with an upward push to towards the recent highs. Key to watch the channel line and upward resistance at 2913.
Short
by DowBits
[EW COURSE] IMPULSIVE WAVES SETUPBEST PLACE FOR ENTRY AREA ============================ CR1 = Research for BUY OPPORTUNITY on W(2) and W(4) CR2 = Research for BUY OPPORTUNITY on W(2) and W(4) CR3 = Research for BUY OPPORTUNITY on W(4) CR4 = Research for BUY OPPORTUNITY on W(2) and W(4) CR5 = Research for BUY OPPORTUNITY on W(2 ) and W(4) CR6 = Research for BUY OPPORTUNITY on W(2) and W(4) CR7 = (We don't trade it) CR4 = Research for BUY OPPORTUNITY on W(2 ) and W(4) FAIL IMPULSIVE WAVE: - W(3) OVERLAP W(1) - W(3) CLOSE BAR BELOW W(1) HIGH EW GLOSSARY =============== If you think this analysis can be useful, leave a your comment or your ILIKE! Thank you for support and trade with care!
Education
by TheAnonymousBanker
13