Polygon (MATICUSD): EXTREME Potential Long-Term Opportunity Matic presents a similar narrative to PolkaDot BINANCE:DOTUSDT . Since the low, marking our Wave (2), we find ourselves engaged in an overarching Wave (3). Currently, we're contemplating a completed Wave 1 scenario, and the path ahead entails a Flat correction for Wave 2.
This Wave 2 correction is anticipated to pivot between 50% and 78.6%. A breach beyond the 78.6% level could lead to a decline towards the $0.50 mark. If this level is breached, further downward movement may unfold, painting a bearish scenario.
Nevertheless, a positive turn within this range could pave the way for an upward journey towards $2.50. :stock_up:
We possible could never see this opportunity and price ever again. So load up your bags!
Elliotwaveanalysis
Bitcoin Analysis: Big and LongBitcoin has recently showcased its resilience, surging past the significant $31,000 mark. This breakthrough is not a mere coincidence; it's a part of a grander design in the crypto market.
If your preview is distorted here is image copy of this analysis:
Let's delve into the intricacies of this upward momentum:
1. Halving's Influence:
One of essential factors in Bitcoin's trajectory is the phenomenon of halving. Bitcoin halving events have historically influenced supply and demand dynamics, often leading to significant price rallies.
As we approach the halving period, this historic pattern adds an extra layer of confidence to the current bullish sentiment.
2. Impulse Structure and Rising Channel:
Bitcoin is painting a compelling picture on the daily timeframe. Within a substantial impulse structure, a rising channel is emerging.
This channel indicates a positive trajectory, reflective of market confidence.
3. Third Wave Speculation:
Within this structure, the market is now poised for what appears to be the third wave, a potentially substantial wave marked by extensions.
The current expectations are set on a retreat to $30,000, acting as a pivot point for the forthcoming surge, with the next ambitious target resting comfortably at $50,000.
4. Wyckoff Accumulation Pattern:
Bitcoin's strength lies in its Wyckoff accumulation pattern.
Though subtle, this continuous weakness exhibits a steady and robust progression, making it a quite unique pattern among other accumulation patterns (cup and handle, saucer etc).
5. Bollinger Bands Width Squeeze:
A striking observation is the Bollinger Bands width, reaching a low not witnessed since the market bottom of 2014.
This rarity accentuates Bitcoin's growth potential, serving as a strong indicator for investors.
6. Historical Comparisons:
By comparing the current market behavior with the patterns observed in 2015-2016, a striking resemblance emerges.
This historical congruence enhances our confidence in the ongoing trend, providing a solid foundation for the $50,000 target.
7. Institutional Interest:
With each positive move, the market gains momentum. It's not just individual investors; institutional players are also recognizing Bitcoin's potential.
The imminent approval of a Bitcoin ETF promises to be a game-changer. This financial instrument bridges the gap between traditional markets and cryptocurrencies, rendering Bitcoin accessible to a broader investor base. The ETF's advent not only signifies regulatory acknowledgment but also invites a wave of retail participation.
The anticipation is that as we approach the holiday season, institutional investors will further solidify this upward trajectory.
In essence, the recent surge beyond $31,000 signifies a strategic move in the crypto chessboard. As we navigate this rising channel, the road ahead holds promise, with the $50,000 mark gleaming on the horizon.
Adding to this momentum, RSI (Relative Strength Index) is showing both Bullish and Hidden Bullish divergence alongside the development of the rising channel. These signals align, painting a robust picture for Bitcoin's price increase.
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Plus, I'm genuinely curious: which tokens/coins have piqued your interest lately?
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Stay tuned!
W for a win - Good risk to reward - 2x - 3x Wayfair is not as big as it was but technically it's one of the heavily shorted name.
As the midcap/small caps started running, W has good entry here.
Started a long position yesterday. will add once I've enough cushion on pullbacks.
Stop loss - 45
Target #1 - 80, 89 then 100
Target #2 - 125
Target #3 - 148
GALA to 40$As Elliott wave I hope it is right for MEXC:GALAUSDT , we are now at the start of wave 3
I think we gonna this through this bull run
ENPH - ready for a take off?ENPH is quite a volatile stock. It’s been a multi-bagger since the 2020 elections.
This has been hammered lately and looks like bottomed out.
Recent uptick in volume showing signs of recovery.
Long - around 100ish
Stop loss - 85
Target #1 - 175
Target #2 - 230
So much of supply ahead, won’t be a smooth ride.
And note- this one has political risk as well.
Manage your risk and position size carefully.
U - Unity + Apple Vision Pro, Can do the magic ?Unity got everyone’s attention when Apple announced its partnership with Unity to develop its VR glasses ‘Vision Pro’.
Apple is releasing ‘Vision Pro’ on Feb 2nd, and it’s not a coincidence this 3rd Wave aligning with its release date.
Started a starter position, but best entry would be around 30.
Stop loss - 24
Long Entry - around 30
Target #1 - 40
Target #2 - 55
Target #3 - 64, after a pullback to 50
L&T has 20% upside from CMP. New impulse wave in action.The weekly wave count for LARSEN&TOUBRO LTD. suggests that it recently completed a wave IV correction from the Jan 2024 highs, and now is all set to move higher in wave v.
The expected wave would be the wave V of 3. The target zone for this wave is projected at around INR 4100-4150 levels which is around 20% up from CMP.
INR 3400 is a support zone for the stock now.
INR 3330 can be used as a "SL".
APEUSD | ABC Pattern - Pullback Inv. Head&Shoulders TP +70%An inverted head & shoulders breakout in weekly timeframe, possible ABC wave pattern
Entry pullback trade position retracing at the inv. h&s neckline support - SMA20W
TP1 - 161.8% extension +70% @ downtrend triangle resistance
TP2 - 261.8%
SL - B wave lowest position
RRR: 3:1
AUDCAD in jeopardy - part 2Weekly look at AUDCAD.
Everything I see is three wave overlapping patterns. There are 3 distinct channels visible that all fit the narrative of an ongoing corrective move that maybe a WXY. Currently, I believe that we are in a wave B of wave Y.
AUDCAD in jeopardyAUDCAD shows bullish momentum on all TFs 8hs and lower (I´m not looking at minute charts). However, it is in my opinion trapped in between two (evtl 3 channels) as part of a bigger WXY. AUDCAD could have already finished the wave B of Y but I´ll give it more room to the upside to the 61.8 or 78.6 fib retracement before it continues down again. Two thresholds need to be taken out (purple line and minor white channel) in order to reach these two fib levels.
Please let me know what you think about my analysis!
Trade setup_nifty completes minor corrective wave ii.Nifty 50 is seen completing 50% retracement of the prior leg i of 3 with today's dip.
The wave ii has achieved a 50% retracement of the wave i.
wave iii of 3 should now take off by today after noon.
the target for wave iii would be approx 22500 from here.
Today's intraday low of 22075 should most probably be a crucial bottom.
22000-22100 currently is the strong support zone.
ETSY - Possible 2x, Who is interested? No doubt ETSY is a sh##y stock, but looks like it found a temporary bottom here.
Build long between 70-80
Stop loss - 65
Target #1 - 100
Target #2 - 115
Target #3 - 130
Target #4 - 150, after a pullback
BTCUSDT - Bitcoin is in wave 5 in the 1-day time frameBTCUSDT - Bitcoin is in wave 5 in the 1-day time frame
New impulse in NIFTY FINANCE should drive it well above 22K markThe FINNIFTY index looks all geared up to start a 11-13% rally in the coming weeks to move towards 22700 levels.
The expected wave shall be the wave iii of III.
After having rallied in wave i of III in oct 2023, the index has witnessed a 61.8% retracement in months of jan-feb 2024.
Now since the triple three correction(WXYXZ) has been complete structurally, the index is once again back to its bullish phase and hence the expectation of the next bull leg.
19800 remains a crucial support for the index while 22700 remains the expected target level.
Elliott Wave: Nvidia pullsback ahead of earnings Hey all.
Markets can see some volatile price action today, because of the release of FOMC minutes, when investors will look for any new details or change in tone regarding FED's policy. But then, after the US close speculators will be focused on Nvidia earning reports. This data can be important, not only for stock it self, but also for the technology sector and bitcoin as well.
We will see how market react, but from an Elliott wave perspective market can still be in a corrective pullback, rather than making a topping pattern.
Lets see.
Grega
RNDR is Ready to Explode !RNDR is an uptrend for a while and actually, it hasn't even gave the value it's supposed to give.
What do we have ? Let's discuss:
RNDR will pump more after a small correction according to Elliot wave theory. We are currently in wave 3. But inside that wave three we are about the see corrective wave known as A-B-C .
After the C ends, it will start a new uptrend with a 5 small waves. Because the main trend is going up.
+Nvidia is about the make an operation based on these kinds of products and RNDR is a partner of Nvidia. It can also help the price to pump more.
According to my analysis, RNDR should go 6.5 at least. Of course it's for only wave 3. After correction wave 4, we can expect more.
If you are willing to invest on this product, I'd not suggest to use leverage. There is already high potential gain and no need to risk it with leverage incase of an event after some bad news.
I'll share updates about this one often so you better keep up!
Good luck to us all.
Nvidia shareholders get a reality checkThat ole' cliche..."the faster something goes up...the faster it comes down". I am not ready to state with certainty that NVDA has completed a major top, but watch the price level of $599. Below that level and guidelines state that we're probably not dealing with a wave 4, which is my ALT count.
Best to All,
Chris
E.W. Theory - projection of BTC's support and resistance zones.Support and resistance for BTC 4Htf;
I primarily used the E.W. Theory determine them S/R zones.
Bank Nifty to move into the 50K zone in new impulse up!Bank nifty has recently gone through a steep cut, shedding 4000 points in a matter of one month.
Looking at the the bigger picture however, tells us it could be a great time to enter into your favorite banking names(or even the index itself!)
The 4000 point decline was a wave ii retracement of the impulse that the index witnessed between Oct-Dec 2023. The corrective wave can be labelled as a zig-zag(ABC) and has retraced 61.8% of the impulsive rise.
Now what should unfold will be the wave iii of III. This particular leg can be projected moving towards the 50K mark soon.
On the downside 44540 can be considered as an important support for the index.
BTC Retest to $50k zone & then rides wave 5 to $57k +Bitcoin is exhibiting signs of convergence, marked by the formation of a bull flag alongside an Impulsive Elliot Wave, suggesting a potential rise in price action towards the $57,000 region. Additionally, the presence of a Fractal pattern hints at a significant pullback following the completion of this sequence.
Elliott Wave Analysis with Volume Profiles and Open InterestMYROAnalysis. eliott wave: the price action conforms to elliot wave theory, suggesting a potential bullish move with the completion of wave 5. volume profile (January 38th - february 3rd) the initial volume profile indicates that the price has previosly visted the point of control (poc), and it appears to be retracing towwards the upper 70% line, which could serve as oyr TP3. Volume profile (february 2nd-february 19th): the subsequent volume profile suggest that the ptice is finding support around the 70% line, this support level has also acted as resistance in previous instances. Openinterest: there is a bullish and green candle observed in the open interest data, indicatng potential bullish sentiment.
US30 - Perfect Zigzag Pattern ZIGZAG Pattern is made up of 3 waves were Wave A has 5 impulse waves, Wave B has 3 corrective waves, and Wave C has 5 waves. Our main focus is riding Wave C once wave B finishes its retracements to fibonacci levels. Ideally, Wave A = Wave C. This means if Wave A made 20% move, Wave C should do the same.
BITCOIN: Pullback before another rally?Hi Traders!
The trend is bullish on the main time frames, but today we will only follow intraday chart (Log Scale). That said, from a technical perspective, CRYPTOCAP:BTC is forming a 12345 bullish impulse structure, and we are currently in wave 3. If our analysis is correct, Bitcoin could trigger a corrective structure (ABC or ABCDE Pattern) in short term before developing another rally. On 1H chart we showed the support area and the potential amplitude of wave 5.
OUR LONG TERM ANALYSIS
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