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Elliotwaveanalysis

Bitcoin Update : Elliot wave count, Invalidate previous analysisHello fellas, welcome back to the Sunday night update about bitcoin. Today is the January 5th, 2020 and this is going to be an awesome update for bitcoin for mid term use of trading set up. Here we go. I have to admit that my previous perspective which said that the B wave has already confirmed could be invalidated when the price breaks the green region around the $7500 region. From my newest perspective and EW count that is very updated, we can see that there is a possibility for bitcoin to form an ABC structure which the B was bottomed at around the golden pocket region which coincides with the previous broken resistance that was become a support as well. The 3-3-5 structure for the potential ABC corrective wave of the whole bearish structure could be in play with the potential target minimum at 1.1 fib extention around $8000 - $8100 region which once again coincides with the 38.2 fib retracement from bearish impulse wave of higher degree (gray region). Break out of the green region will be another long entry or you can adjust the long entry when the price touches the yellow region as a pull back that I expect to occur in near future. What can I say, mid term could be bullish, but for long term we're still under a huge pressure of bearish structure. And what my position for now? a big 0!
BITFINEX:BTCUSDEducation
by julio24albert
USDCHF: Ending Diagonal - Signal for ReversalEnding diagonals are motive wave patterns yet not impulses, as they have two corrective characteristics (wave 4 must always enter the price territory of wave 2). ED's usually take the shape of a wedge and in all cases, they are found at the reversal points of the larger patterns, showing exhaustion of the larger movement. I usually confirm that I have an ending diagonal if I see divergence on the RSI. In many cases, an ending diagonal is usually followed by a strong impulsive move in the opposite direction of the trend.
Education
by UnknownUnicorn5158708
Analysis of Recent Winning 5th Wave Trade on GNRCOn October 15th 2019 we posted a trade idea on our TradingView Profile >>>HERE<<< for a potential 5th wave long swing trading opportunity on GNRC. This video explains the subsequent bullish move to hit our original 5th wave target and then a further 5th wave swing trading opportunity. This is a great example of our Elliott Wave Indicator suite in action during strong trending moves on Stocks, but is also as effective on Forex,Futures, Commodities and crypto currencies.
NYSE:GNRCEducation
by xBratSoftwareSolutions
Bitcoin : Short term view and review of yesterday's analysisHello fellas, How are you doing today? I hope you are doing great. Let's get to the point! If you have seen my yesterday's video analysis about bitcoin in short term and long term view (and if you haven't seen it, kindly see it on this link youtu.be ), you will be very familiar with some of this key levels drawn on the chart. After the action of breaking out of the green dotted trend resistance trend line with an absolute candle closure on 4 hours chart and a pretty good volume. But, once again I want to remind you that even at the most bullish market, it will still need the correction even at the smallest degree of the wave. That's why I try to make a relation with a possible elliot wave count on lower this 3 hours time frame. Orange zone is the golden pocket zone which I believe that it is the strongest resistance zone for short term basis. The green zone will become the strong support because it is simply the 50% of fibonacci level and it has a confluence with previous price action as key level. For short term, I firmly believe that bitcoin will touch the orange zone at least and the maximum retracement that could occur will be on the green zone as the key level. As long as the 4th wave hasn't move down to the territory of the top of the wave 1 (Not more than a wick), This scenario will be still active. My bias is remain the same, short term is bullish, but for long term we could see a horrible bearish scenario. Thank you
BITFINEX:BTCUSDEducation
by julio24albert
XAUUSD Ending Diagonal at Fibonacci ResistanceEnding Diagonal An ending diagonal is a special type of wave that occurs primarily in the fifth wave position at times when the preceding move has gone "too far too fast," as Elliott put it. A very small percentage of ending diagonals appear in the C wave position of A-B- C formations. In double or triple threes , they appear only as the final "C" wave. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement. Ending diagonals take a wedge shape within two converging lines, with each subwave, including waves 1, 3 and 5, subdividing into a "three," which is otherwise a corrective wave phenomenon.
OANDA:XAUUSDEducation
by CryptoTrend-Alerts
Harmony in BNB Harmonic waves analysis with some market pattern recognition and range structure. I will add fundamentals a bit later for everyone on recent news. Blue boxes are where I would seek buy opportunities. $35 seems to be a floor on the hourly. Please observe all touch points and read on how harmonics play a role at major price action points that cause reversals (think of it as tug of war or a train station going from one station to the next picking up people). Zoom out and manipulate the chart and you will see how harmonics are creating a butterfly effect.
BINANCE:BNBUSDEducation
by AschraM
Can Bitcoin really target $8400/$8500+ from here?Good Friday morning, traders. We made it through the week and now, with the weekend upon us, absolutely anything is possible in this market. At this point, we still have the $7900 target from the IHS and price continues to hover around $7400/$7500. The TFs don't get overbought until the 4H, which means that there's room for price to break and run a bit. Speaking of the 4H, it has remained overbought for four days now. We know a pullback is needed, the question is when will we see it? Price continues to sit just under the daily cloud and appears to be printing a bullish pennant. During last night's TA video, I discussed the possibility of price making a very large move up from this area based on the height of the flagpole leading up to that pennant. If it starts around $6200, then that sets up a target of around $8900/$9000. I just don't see price having that much juice behind it at the moment after the previous movement up. However, if the overhead supply zone fails to contain price, then as I have continued to mention, there are a ton of shorts that would likely rush to cover as that zone is significant and its breach should see price ultimately targeting $10K+. This would also put price above the large descending wedge's resistance line as well as the daily cloud (the latter not having been seen since January 2018). So, a narrative could be carved that would support such a move. If, instead, we just take the flagpole from the previous start of the most recent large movement up which is the $6700/$6800 area, then price should target $8400/$8500. This is the area where I have previously said I could see price reaching during Wave 5 because it lines up pretty well with the daily pivot from two periods ago which sits at $8470. Personally, I prefer this movement as it allows price to then correct back toward the supply zone it pushed through to get there, which should become a demand zone, as well as the top of the daily cloud and the descending resistance line which should become support. In other words, that move would turn the current area of confluence of resistance into a confluence of support. It would also better fit what should be happening in terms of a Wyckoff accumulation period as I outlined a while ago. The final possibility on a move up lies in the pennant, itself. If the pattern is nothing more than a symmetrical triangle (due to the fact that it doesn't actually start with the flagpole), then price should be targeting the height of the triangle upon breakout. In this case, that should see price only targeting the $7800/$7900 area which would complete the subwave 5 of the Wave 3 as I outlined the other day. Failure of price to breach the recent high of $7600 on July 18th should result in a retracement (Wave 4), possibly as far as the $7100 area. This of course would be a positive step as price recoups and prepares for that aforementioned push through the strong confluence of resistance. The longer this drags out at the current level, however, the less inclined I am to believe we will have that particular retracement prior to the push through. Alts have continued to slowly bleed while BTC dominance has increased during this time as well. This often portends a legitimate bull run. I have been mentioning for a few months now that I wanted to see BTC dominance breach 46% as doing so would give us a higher low and higher high since January 2018 which would denote a bullish trend in that dominance. Currently, it is sitting at 45.2%.
BITFINEX:BTCUSDEducation
by Chris_Inks
6
Bitcoin's Subwave 5 of Wave 3 in is motionGood morning, traders. It's Thursday and Bitcoin is moving as expected at this time. On last night's live stream I spoke about how we expected to see one more push upward toward $7700-$7800 to complete a possible subwave 5 of this Wave 3. Following through in such a way should give price the look of the previous pattern which occurred prior to the breach of the lower supply zone at $6900 and it would allow price enough room to print a shallow Wave 4 since we have a deep Wave 2. This would set up a Wave 5 push either into, or through, the upper supply zone (large green box). My thought is that if price manages to breach the top of that zone, then we should expect FOMO to kick in as shorts cover and/or are liquidated thereby causing price to breach the descending resistance line of the large descending wedge at that time as well. Failure to breach the top of the supply zone will likely see price dropping back for a correction before beginning Wave 1 of the new set and targeting that breach. The 1H chart shows us the two yellow boxes that I am comparing for further movement to complete the possible subwave 5 toward the 1.272 extension in the supply zone before dropping back to the $7250-$7350 area to complete Wave 4. RSI has made a move above its resistance at 58 which usually indicates a push into overbought territory, bringing price upward with it. MACD just printed a bullish crossover an hour ago, as well, and OBV is printing higher highs and lows in unison with price. The 1D chart shows price pushing against the bottom of the cloud. My primary expectation on this time frame is to see that push complete into the cloud and then see price ride along the bottom edge of the cloud as it completes Wave 4. Wave 5 should then, as mentioned above, breach the confluence of resistance and target the R2 pivot/2.618 extension. We will have to watch price action as Wave 4 completes and Wave 5 begins to know more, but this is the movement I am watching at this time. Also notice that we have had 5 days of green in a row, with today looking like it may be the 6th. The only time we've seen so much green without a daily pullback is during the bull runs prior to this corrective cycle.
BITFINEX:BTCUSDEducation
by Chris_Inks
7
SYSUSD: Syscoin Is Forming A Recognizable Pattern!Hello Traders! We found very interesting coin with a known pattern and that's BITTREX:SYSUSD ! Well, as you know we are tracking many patterns like this one, for example NEO, OmiseGO, Ripple and Dash, which have, in our opinion a clear bullish setup. Five-wave rise into wave A/I from lows suggests a bullish reversal and slow three-wave pullback into wave B/II means correction. So, if we respect the price action and EW theory, then wave C/III up is a third wave of a minimum three-wave expectation. In any case price can go back to highs, but as we know wave III is the strongest and the most impulsive wave, so who knows how far can explode. As you can see, Syscoin already jumped from very nice 0.35 support level around ideal 61,8% Fibonacci retracement, which means that correction can be completed, but we want to see a break above 0.49 level, which would confirm a new bullish cycle for wave C/III. We will remain bullish, even if price goes lower below that support at 0.35 level, as long as it's trading above 0.24 invalidation level. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SEducation
by ew-forecast
1
Philakone is MAD! Know your ELLIOT WAVE-Theory now! Dear Friends! D4rkEnergy is back with an educational post about Elliot Wave-Theory. Yesterday, Philakone, a famous crypto-trader and TA-educator, was calling out one of the Top Authors in here, because he could not figure out how to draw lines. Philakone wrote the following on Twitter: "How to NOT draw Elliot Waves. it blows me away... this guy has one of the highest reputations on tradingview, and his elliot wave is shit. Ignoring the most BASIC rule of elliot wave in zig zags..." D4 is not here to create drama. D4 is not here to get enemies. D4 is only here to spread love and wisdom. He wants everyone to have success, therefore he decided to make this basic guide to Elliot Wave Theory. It is pretty complex if we go into the smallest details, but let us keep it basic for now. We are here looking at the 30 min BTCUSD Chart. ELLIOT WAVE THEORY Ralph Nelson Elliott developed the Elliott Wave Theory in the late 1920s. He believed that stock markets was traded in repetitive waves and cycles. According to Investopedia this method gained popularity in the 1970s. Traders try to identify these waves and patterns, because it can help them predict the market. - 1 Cycle contains in total of 8 waves. 5 waves (1-5), which follows the trend, and then a correction pattern A, B, C. We also call this a 5-3 pattern. - Wave 1, 3, and 5 are impulse waves up - 2 and 4 are correction waves down - A, B, C are the correction As you can see, Inside every wave we can have smaller waves, also called sub waves. Basic rules: 1. Wave 4 always have to be above wave 1. 2. Wave 3 can never be the shortest. If these rules are broken, we have what we call an Elliot Wave failure. And therefore it is not a real Elliot Wave Cycle. This was a really short introduction. D4 encourage you guys to dig deeper into this! D4 loves you <3 And as always. Please follow D4 and give a LIKE, if you liked the analysis. It is much appreciated. Thanks in advance, my friends!
COINBASE:BTCUSDEducation
by D4rkEnergY
103