$RIOT ~ Correction still in progress...As expected, the bitcoin miners are correcting along with bitcoin itself. Although we are getting close to the 61.8 for a normal wave 2, I would recommend being careful as crypto tends to correct a little deeper and should be no surprise to see the 78.6. Remain patient and it will pay off later down the road.
Elliottwaveforecasts
SP Futures ABC Elliott Wave correction is finished... BullishI believe the bigger ABC correction is finished.
All of the waves are super clean, and all fib levels and extensions are spot on for Elliott Wave measurements.
Doesnt mean it cant go into a more complex correction from here... but as far as the ABC correction... its finished imo.
SP is now starting a bullish wave 1 of a much bigger sequence that will eventually take it to ATH.
It appears it could be in wave 4 of the wave 1 now (wave 4 is often a triangle).
My analysis on tsla from april (see ) had the end of the c wave at possibly 620 (hit within $1)... and i see the same things in the ES for now with a clean 5 waves down for the C wave (has to be 5 waves).
4300 would be a good resistance spot for this move to stop, as there was a triple top at that level.
The big trade setup will be if price gets to the 4300 area, completing this first 5 waves up....
Then pulls back for wave 2 into approximately the 4000 area.
This will be a SCREAMING buy opportunity in my opinion, and a great entry for wave 3 up, which can often be the biggest wave.
Many things lining up for the bullish contrarian bet to be the right bet... We will see
LINK/USDT Elliott Wave CountChainlink can start something from here?!
I think we have a leading diagonal for wave A or 1 , zigzag correction for wave B or 2 that bounced 0.618 fib retracement of wave A or 1.
Let's see how the market develop from here. I will update count later.
I am long for short term also I am into this trade for at least a C wave.
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GBPJPY; POUND FACING MORE PRESSUREThe United Kingdom's employment data for the three months leading up to April revealed a higher Unemployment Rate of 3.8% than anticipated (3.6%).
The results depressed the pound prior to Thursday's Bank of England (BoE) meeting.
This follows the monthly GDP figure released on Monday, which revealed an unexpected drop in April and aroused concerns about the health of the British economy.
The British pound was negatively affected by the possibility of a more dovish Bank of England and a Scottish referendum.
In light of the most recent macroeconomic data from the United Kingdom, the Bank of England may adopt a more cautious approach to raising interest rates.
ETHBUSDETHBUSD seems to be in the last phase of correction that is minor wave 5 of intermediate wave C of Primary Wave B
$1000 to $950 would be ideal to look for signs of completions
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Bulls make money, bears make money, pigs get slaughtered.Remember, my goal is to stay in the game. The people who got wiped out by the crashes tended to be people who never took anything off the table, who never felt greedy, who got slaughtered by their own piggishness.
Have you taken your profit? Have you booked anything? Or are you being a pig? Because you never know when things you own are going to crash. You never know when the market could be wiped out. You can't have certainty. At those times, you have only human nature to guide you.
I would like to wish you all a Happy Xmas, and regardless of your religion, I wish you to spend moments of peace and happiness with your family and friends, it is time to celebrate life!
BTC Elliott Wave countBitcoin Elliot Wave count update
It s a little bit tricky here with Bitcoin, so I have have 2 scenarios for it!!
1st scenario is the blue count of the 5th wave to the downside, with Y wave of the 4th wave corrective pattern to the upside ended into the blue box. If this count is the correct one than we must see further move to the downside after a 4th wave corrective move to the upside that can start soon.
2nd scenario is the red count of the 5th wave to the downside, with Y wave of the 4th wave corrective pattern to the upside ended into the red box. If this count is the correct one than bitcoin already finished the 5th wave to the downside. keep in mind this!!
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LINK/USD Elliot Wave countUpdated the Chainlink count
WXY correction pattern for a 4th wave and now we are into the 5th wave to the downside
I think is already finished 3rd subwave of the 5th wave.
I am expecting a 4th subwave corrective move to .the upside and than last 5th subwave and I think we will see soon the bottom.
Also this days I caught good trades on this move to the downside, hope you too!
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BTC Elliott Wave countBitcoin Elliott Wave count update
Still into the 4th wave, WXY correction pattern.
Also I think 4th wave will correct into 0.5 fib retracement of 3rd wave, somewhere at 34200
Changed a little bit things into Y wave. We have a Y wave formed by a zigzag pattern ABC, where B wave is a barrier triangle. (also this triangle can be a X wave if it is an y wave a complex pattern WXY but does not matter)
Also we have a barrier triangle wave B from triangle`s zigzag wave D
On the long term I am still bearish on BTC
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