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Neelyriver

Bitcoin Could be Headed Back to 5k (Elliott Wave Forecast) BTC is potentially in a double combination pattern since June 2019. Considering that this appears to be the 2nd wave-B, we will likely finish out this wave in a few weeks before heading lower towards 5k. After we hit 5k we'll likely find a long-term bottom and head back towards all time highs. Many people got hyped up and bought BTC this week thinking war with Iran was about to happen. As the US government has signaled they are going to de-escalate the situation for now, it seems that we've narrowly avoided war. However, the situation is still very dangerous and could get worse later in the year, especially after the election. For now, it seems like the hype is dying down and BTC will fall back towards 5k, and the US stock market will continue ripping upwards. I am entering long PUTS here, with a 20-30% S/L, based on Neely River Theory on the WEEKLY chart. (BTC-27MAR20-8000-P) If this position increases by 30%+ I will be looking to write ATM premium or buy ATM calls to protect profits, depending on the volatility.
COINBASE:BTCUSDShort
by Intuit
Another Year of Sideways for BTC (Elliott Wave Forecast)Based on Neowave theory, it seems that BTC will continue sideways for another year in the 20k-3k range. First, we'll likely see a hard drop back to the cost of mining in Sichuan, China (~$4800), which is where >55% of all mining occurs. This will lead to miners capitulating and shutting off their machines, which will relieve the sell pressure and allow a long-term bottom to form in the 4-5k range. Then it's likely we float back up towards the top of the range, before seeing another crash back down to the bottom of the range. This will create a massive whipsaw and shake out many of the weaker hands. In the very long-term, BTC appears to be in a diametric Neely-Elliott Wave pattern, because there is strong time similarity between most of the waves. An impulsive wave here, like many classical EW analysts have counted, makes little sense because of the reasons I've listed on the chart: In the short-term, River Theory is signaling a break down here on monthly, weekly, daily, and intraday charts and based on the shorter-term wave count we're likely to see wave-e of F ending this month under 5k. There are also several technical breakdowns, and momentum and volume are both bearish. This means we could see a very violent drop this month as miners and weak hands capitulate, which will then recover relatively quickly when new money comes in to buy up all the cheap coins. Put options are the best way to trade this market until we are closer to the bottom of the range.
BNC:BLX
by Intuit
TRON Headed to New Low Before Completing Wave in 2021Based on the strong time similarity between waves-C and D and likely E, there's a good chance that TRXUSD is forming a diametric, and wave-E will head lower until the end of December. After wave-E completes we'll likely get bullish wave-F and bearish Wave-G which will end in July 2020 and Jan 2021, respectively. Based on this revised count, we likely won't get a parabolic rise until the beginning of 2021. Based on the evidence, we're most likely in the middle of a count rather than the end, and the diametric makes the most sense by far based on time, price and structure. We'll know for sure based on the price reaction after wave-E, whether or not we can fully rule out the other unlikely alternatives. Momentum is also quite bearish here and we're in a monthly bias environment which is generally very boring and choppy. The ultimate failure of many buy signals and my previous contracting triangle that I had published earlier is also very bearish and should take some time to recover fully from, giving further evidence to a diametric forming in which we will have gone relatively nowhere for several years, shaking out many weak hands and giving plenty of time to further development and adoption, and for large market makers to accumulate.
BINANCE:TRXUSDShort
by Intuit
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