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BTC Crimbo ShakedownWell, still waiting for the bottom. Today's breakdown looks like we are tracking to the original idea from December based on a review of historical market tops. A few idea tweaks have taken place over the past few months to consider possible trajectory but ultimately Target remains $20k area. The scenario was based on Weekly MA50 interaction. Market Top interaction with the 50 weekly MA has typically been in 3 parts: 1. Bounce on top of 50 WMA 2. Bounce up into 50 WMA 3. Break down away from 50 WMA We are now at point 3 following a classic 'double tap' of the resistance. - Expect a move down to $20k region - points to a prolonged bear market - ALTs.. plenty of folk warned others about the risk there I'll note some positive signals in recent days and there are still scenarios that support various Flat Correction scenarios I outlined a few months ago - leaning towards an Expanded Flat Correction. If markets calm and DXY backs off from resistance there may be a rally in a week or so but ultimately I do not expect a reversal and target to be reached. Best, Hard Forky
BITFINEX:BTCUSDShort
by hardforky
Elliott Wave Analysis: ShitCoin Index Is Eyeing July 2021 LowsHello Crypto traders and investors! We are pretty sure you are wondering when it's time to buy cryptocurrencies again. Well, Cryptos are still trading in a bigger sideways correction, which we see it as an A-B-C flat formation, especially if we take a look on shitcoin index, where we see quite clear Elliott Wave Pattern, called 3-3-5 flat correction. A 3-3-5 flat correction consists of three waves in leg A, three waves in leg B and five waves in leg C. As you can see, we have (W)-(X)-(Y) complex structure in wave A, then wave have a three-wave (A)-(B)-(C) corrective recovery in wave B and now we are trading within a bigger ending diagonal pattern for wave C. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast, and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. So, what we want to say is that shitcoin index and cryptocurrencies in general can be trading in final stages of a corrective movement, where we are tracking final wave (5) of C, which will ideally retest July 2021 lows and then we will expect real bulls to show up. Be humble and trade smart! If you like what we do, then please like and share our idea! 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.
FTX:SHITPERP
by ew-forecast
ALLY Wave 4 Completed?Hello everyone, I wanted to share with you all what I'm seeing with ally. I believe Ally has completed a flat wave 4 correction. I have outlined 2 pink lines, one will invalidate the flat correction thesis and the other will validated. In other words if Ally breaks and closes below $44 the pattern will be invalidated and a larger correction will probably be in play ; on the other hand if ally breaks and closes above $49 the pattern will be valid and longs should be considered. I hope this helps some of you. I'm not a financial advisor, I'm only sharing what I'm doing. Good luck everyone!
NYSE:ALLY
by FreedomBuilder
running flat CorrectionThe running flat has a three-wave structure, labeled A-B-C. Waves A and B consist of three waves. Wave B travels to a new extreme, exceeding the starting point of wave A of the pattern. And here comes the major difference between the two flat corrections. In an expanding flat, wave C travels beyond the starting point of wave B. Within the running type, it does not. In other words, a running flat wave C is not going to reach the termination point of wave A. Read more at: ewminteractive.com
BITFINEX:BTCUSDLong
by TheMannyFraser
MSFT flat correctionElliott wave analysis view for MSFT suggests the decline from November 22, 2021 high is unfolding as a flat correction. It turned out to be quite an interesting structure. Down from November 22 ATH wave (w) ended at 328.2 as simple ZZ, and rally in wave (x) is expanded flat ended at 343.86 (as we know each reactionary wave, labeled X, can take the shape of any corrective pattern). Wave (y) is ZZ and ended at 317.2. So we have complete WXY combination as a part of wave of flat. Rally in wave ended at 344.3 with internal subdivision as a ZZ. Final leg wave ended at 300.63 as ending diagonal and it has extension 1.272 from wave . In terms of technical analysis, we have a price stop near the strong level of 305 and a good demand zone from 300.. There is also convergence of price and RSI indicator. I can assume that wave 4 has probably ended and the formation of sub-waves of the 5th wave will soon begin.
NASDAQ:MSFTLong
by Ewangilist
NSA breaking out of a flat base!* Good earnings * Very Strong up trend * High 3-month relative strength in the Real Estate sector * Breaking out of a flat base of roughly 6 weeks with higher than average volume * Pays out dividends quite generously since it's a REIT Trade Idea: * Now's a great time to enter as the price is just breaking out and is very close to the broken resistance. * The REITs sector is also doing pretty well at the moment * If you're looking for a discount you can look for a buying opportunity near the $62.50 to $63.30 area Caution: * A daily close below $62.50 would negate the idea
NYSE:NSALong
by HaseebKhan_90
WABI/BTC Analyze !!! Hi, today I want to talk about one of the old Tokens of the market that has been in its five descending waves for a long time. maybe you can think about invest on it. The name of the token is 👉 Wabi 👈 Wabi Analyze ( WABIBTC ) Timeframe 2D ⏰ Location🌊 : Fortunately, Wabi was able to finish 5 descending waves at 0.00000929BTC , then it started to run on Big falling wedge & Descending Channel + started corrective structure by wave A that it had a Double Three corrective structure (W-X-Y) . after wave A , it started to go down to the lower line of our Big falling Wedge , and at the same time, it finished Wave B (Structure of Wave B is ZigZag ). The corrective structure of Wabi is Flat (3-3-5) , so we saw five impulsive microwaves (Wave C ) that ended on the upper line of our Big falling Wedge . I was able to find another Small falling wedge inside on Big ones, it can be a key pattern for changing downtrend. Price was able to break the Small falling wedge and Wabi started the new journey . I think that Wabi can break Big falling Wedge too(soon) or it will rest on our Big falling wedge . Resistance zone on Wabi's way : 0.00001843 BTC until 0.00001752BTC Support zone on Wabi's way : 0.00000378 BTC until 0.00000237 BTC Wabi Analyze ( WABIBTC ) Timeframe 4h ⏰ Location 🌊: as I said, Wabi was able to break a Small falling wedge and I tried to count waves after this happens. please pay attention to my analysis 👇https://www.tradingview.com/x/IGE2bc0P/ Wabi is on microwave C of main wave 4 . End of the main wave 4 : 0.00000478 BTC - 0.0000046 BTC + TRZ ( Time Reversal Zone ), after that Wabi can start the main wave 5 or price can rest at time⏰ between 0.00000518 BTC until 0.0000046 BTC . My Suggestion : if you want to have Wabi on your Portfolio , you can take it around 0.00000518 BTC until 0.0000046 BTC . // 🎯Target 🎯for end of August == 0.00000518 BTC until 0.0000046 BTC ( 0.00000478 BTC - 0.0000046 BTC (more possible))// Highest price of August Will 0.00000584 BTC . 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 be glad to see your ideas in this post. Please do not forget the ✅ ' like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
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by pejman_zwin
37
BTC, Major Update ! Flat Correction ScenariosBTC Shocked many analysts one more time ! What is the most possible scenarios now? BTC proved 100 % today that those (including me) who expected a zigzag correction were completely wrong. But, this the nature of the market. Nobody can make 100 % accurate analysis and predictions.! I see what is going on Bitcoin as a flat correction. There are three types of flat corrections : 1. regular 2. irregular and 3. Running Regular flat correction is certainly rejected as we have a new ATH but both irregular and running are possible now and discussed below: Right side of the chart Irregular flat which is shown on the right side of the chart will push back the price down to below 28500 ! Is it really possible? Of course it is technically possible. Is it possible for BTC now? Of course possible but how much? I give very low chance for this scenario now but keep it in mind that every thing is possible in the market every time. Typical irregular flat correction target is 69000-74000 USD zone which is a strong resistance. Left side of the chart: Running flat correction will go much higher above former ATH typically up to 1.618 extension of last drop which is around 87000 USD for BTC now. If it goes there typical next correction of wave C is a decline down to previous ATH which is around 65000 USD.After that we have a new powerful motive wave which goes easily above 10000 USD. Less probable yet valid running flat scenario is to start correction after hitting 69000-74000 resistance target zone , a decline down to around 52000 and then starting a new motive wave up to above 10000 USD. Running flat correction scenarios is shown on the left side of the chart. I give more chance to typical running flat scenario now. Hope this analysis to be useful for you my friends and wish you success in your trades
COINBASE:BTCUSD
by SaeedSajedi
5
CADCHF - The Perfect Correction 🔥CADCHF is currently showing us the perfect correction. In Elliot wave theory, this correction is called a Flat correction made up of 3-3-5. 3 waves - WXY (Wave A) 3 Waves - WXY (Wave B) 5 Waves - 12345 (Wave C - we are currently in Wave C) After the massive impulse in February 2021, price has been stuck in a parallel correction. Within that channel, we can see a number of corrective moves that could have been caught using elliot wave theory. The bigger channel is supporting the ABC corrective move. Wave A - 3 waves. The price action to take us from the top of the channel to the bottom is the move marked WXY in red. Within that move, we can see that we had 2 minor ABC moves. Wave B - 3 waves. was similar where we had an WXY move and within that, had a minor ABC move. Wave C - 5 waves. We are currently in the bigger wave C now where it has 5 waves to the move with wave 3 being the biggest. We are currently in wave 1 of the bigger Wave C) Trade Idea: Watch for wave 2 - this will be a corrective move. Once you have identified wave 2, you can catch the big wave 3! If you enjoyed this little breakdown, leave a like and comment what you think! As always, trade safe.
by WicktatorFX
17