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Elliott Wave

USDCAD Elliott Wave AnalysisHello friends, We are witnessing a 5-wave impulse pattern in the USDCAD currency pair. Waves 1 to 4 have been completed. Wave 3 has 5 complete subwaves. Wave 5 also has 4 complete subwaves and wave 5 of 5 has started to complete. So, according to the above theory, we can enter a buy position with a stop loss of 1.39300. The profit limit can also be considered 1.4200, which is also the density of Fibonacci levels. To support me, I recommend installing the Trading View software on your phone and see my analyses and support me with your comments and Boost. Be successful and profitable.
Long
by M_Gheysvandi
1
BTC Dominance Topping Out, Going to All Time LowsBTC Dominance appears to be in a potential 7 year flat pattern. This coincides with the end of 7 year bear supercycle on alt/USD and alt/BTC pairs. The end of the flat pattern is evidenced by wave-c relating to wave-a by 61.8% in price and relating to waves (a+b)/2 in time (yellow boxes). The false break out from the orange trendline, as well as the wisemen on monthly, weekly, daily, etc charts, and the bearish momentum divergences, are all further evidence that dominance has topped. From here, it looks like BTC dominance is going to retest the lows, and considering the likelihood of the end of a 7 year bear supercycle on alts, and the beginning of a new alt season, BTC's dominance could fall to as low as 12%. Fundamentally, little has changed about BTC over the years. While some activity can be moved to layer 2s, the main BTC blockchain is still slow and inefficient, with only 7 TPS most people will not be able to afford to transact on Bitcoin. This will make retail traders and economic activity move to layer 2s and other chains. One chain which will capture a large share of economic activity from Bitcoin is TRON. It has already captured the largest share of USDT, leading to high TRX burn rates. As Bitcoin's fees begin to skyrocket again following skyrocketing Bitcoin network activity, more of Bitcoin's activity will move to wrapped BTC on chains like TRON which are fast, extremely liquid, low fees, and accepted in most places. While this will allow everybody to afford to transact with Bitcoin, it will also cannibalize Bitcoin's dominance. Chains that are similar to TRON which can capture a large share of Bitcoin's economic activity by acting as Bitcoin's layer 2, and in doing so are burning their native token for fees, are going to see their circulating supplies drop very quickly because of money earned and burned from fees, and their prices increase much faster than BTC. It would not surprise me to one day see BTC completely lose it's dominance as the largest crypto to coins which have better fundamentals, especially where they have very high fee revenue and burn rates like TRX, and are significantly faster, more scalable, and turing complete. Either way, I don't think we will ever see BTC's dominance this high again, especially as regulations in the US and around the world begin to favor BTC less and create a fair playing field with other cryptocurrencies.
CRYPTOCAP:BTC.DShort
by Intuit
Technical Analysis of Bitcoin: Short-Term OutlookCurrent Market Situation Bitcoin's technical analysis currently reveals intriguing signals that warrant investor attention. Price patterns and technical indicators suggest a potential consolidation phase following the recent bullish performance. Key Technical Levels Chart analysis highlights a crucial technical level for Bitcoin at approximately $66,203. This level, presently below the market price, could play a significant role in upcoming price movements, potentially serving as a support level in case of a correction. Short-Term Projections Advanced technical analysis tools, particularly the Zig Zag with Adaptive Projection indicator, forecast a possible 15% decline over the next three weeks. This projection is based on the identification of significant pivot points and analysis of historical trend patterns. Market Interpretation The current technical setup, combined with Bitcoin's elevated price levels, indicates that the market might be entering a rebalancing phase. A corrective movement or a period of consolidation appears likely in the coming weeks. Conclusion Technical analysis suggests that Bitcoin may undergo a period of readjustment following its recent performance. Traders and investors should remain vigilant and adapt their strategies according to evolving indicators and market movements. It's crucial to note that while these projections are based on sophisticated technical models, they should be considered within the broader context of the cryptocurrency market, which remains subject to various external influences.
BITSTAMP:BTCUSDShort
by Julien_Eche
Gold no more bullish? (XAU/USD)The daily XAU/USD chart reveals a completed Elliott Wave (1-5) structure, with wave (5) peaking near the $2,720 resistance level. This marks a potential reversal zone for gold prices. Expected Corrective ABC Pattern: Wave A: The initial decline is anticipated to target the $2,605-$2,620 support zone. Wave B: A minor retracement is expected to occur, likely staying below the $2,720 resistance level. Wave C: The final wave may extend the decline towards the $2,560-$2,580 lower support zone. Key Levels to Watch: Resistance: $2,720 Support Zones: Middle support: $2,605-$2,620 Lower support: $2,560-$2,580 Trading Strategy: Given the high sensitivity of gold prices to macroeconomic events, traders should exercise caution. Proper position sizing and setting appropriate stop-loss levels are crucial to mitigate potential risks. Monitoring upcoming economic releases and geopolitical developments is essential, as these factors can significantly impact market volatility. Keep an eye on the evolving market conditions and adjust your trading strategy accordingly. Good luck!
TVC:GOLDShort
by me22_
EURUSD → Correction after false breakdown before further fallFX:EURUSD is taking a chance amid the local correction of the dollar. The currency pair can test the local highs. But! You need to be careful as there will be a lot of news today. Fundamental background is generally negative. (Trump's victory, tariffs for European export goods, lower interest rates and so on). This all accompanies the global and local downtrends. Accordingly, in our case, since a false support breakout is forming on the chart, we should wait for a retest of resistance and reversal patterns to further consider selling attempts with the purpose of further decline. Resistance levels: 1.0606, 1.065, 1.076 Support levels: 1.0517, 1.044, 1.033 Accordingly, we follow the nearest resistance, if bears behave aggressively on the background of the news, the price will continue to fall from these areas Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Short
by RLinda
6
PYR - Two ScenariosPYR has been in a bearish trend since Dec 2021. It bounced twice recently in Aug and Nov 2024 from a historical Demand zone. In the long term its bullish. But in the short term I expect 2 scenarios. The yellow is a bearish one that expects a further drop to the demand zone to mark a major bottom, breaking $2.1 confirms the yellow scenario. The white one is bullish and expects the price to continue going up to pass $6.9 which is the confirmation of the white scenario.
CRYPTO:PYRUSD
by MohamedSewid
XRP, 5 years long triangleWhile other coins building finals waves in their correction structures before going up, there is XRP, who had been in a relative consolidation for previous almost 5 years. And now it may soar as big triange completes its formation. Although, it may continue, there is a decent impulse (marked red) with unclear correction. At .44, I suppose, it will be good to stard accumulating long position with targets at 2.0+ And, as far as this is a triangle, which occurs on a position of wave 4, here I see one more evidence, that this growth will be the last on the whole crypto market for many years ahead.
CRYPTO:XRPUSD
by VT-2
14
GOLD → A break of 2600 will make buyers panicFX:XAUUSD is returning to the sell-off phase due to the change of fundamental background. Buyers are unwinding their positions and the price is entering the sell-off zone The main reason for the fall is the ceasefire between Israel and Hezbollah. The first rumors appeared early Monday morning and the market reacted accordingly. Everyone is still waiting for the actual confirmation of the rumors. Also Trump is beginning to hint at increased tariffs on goods from Canada, Mexico and China. Active actions will start in January, after the inauguration of the new US president. But, the risks are still high due to the escalated conflict between Russia and Ukraine. Technically, gold is returning to the channel, marking a strong resistance at 2632 and 2620. (a retest of the zone is possible before a further fall). Resistance levels: 2632, 2620 Support levels: 2605 A price consolidation below 2620 or below 2605 will strengthen the sell-off phase. The fundamental background is weak, which increases the pressure of bears. In the mid-term, I expect the decline to continue after the breakdown of 2605-2600 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
19
Gold Continues to Fall!!!The announcement of a temporary ceasefire between Israel and Lebanon might lead to short-term downward pressure on Gold prices, as it alleviates immediate concerns about regional instability. However, any escalation in tensions or broader economic impacts could reverse this trend. Gold ( OANDA:XAUUSD ) started to fall after the ascending channel broke with the help of the above news . Gold is trying to break the Support zone($2,644-$2,625) . According to the Elliott wave theory , Gold completed the corrective zigzag pattern , and we must wait for the next falling waves . After breaking the Support zone($2,644-$2,625) , I expect Gold to fall to at least the Next Support zone($2,605-$2,584) . 🔔Be sure to follow the updated ideas.🔔 Gold Analyze ( XAUUSD ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
24
KEYUSDT long Spot Trade / after the last correctionafter the last correction break the Base Channel and entered wave 2 territory, and as I see BTC and ETH not complete there correction wave yet, and the same case with most of the other Crypto, so that mean that the price will go deeper, which make our 5 impulse Wave Idea invalid. KEYUSDT Elliott Wave Technical Analysis Mode: Corrective Position: Wave (c) from (X) Direction: Wave (c) is still in play Details: Wave (c) is still in play which I expected to be end around 0.0046-0.0035 which will be my entry point. Next Direction: next higher Degrees Wave (Y) Target : T1: 0.010775 with 160% profits T2: 0.0143 with 250% profits Wave Cancel invalid level: Daily closing below 0.002348 with 40% loss. Disclaimer: This analysis is intended for educational and informational purposes only and should not be construed as financial advice. Always conduct your own due diligence and consult with a professional financial advisor before making investment decisions.
KLong
by ahmadsaad83