First major wave complete. retraced back to the golden pocket.
First wave of the 3rd wave retracing now, finished off with a strong Harami but I don't expect it to retrace any further than to the 2029 satoshi levels.
First target for wave 3 is a 1:1 ext of wave 1. which was also a strong support in Dec and a decent resistance early March.
Possible 23% gain...
Just a quick EW idea i wanted to share on OMG.
Struggling with the first wave after the ABC correction, because part of C may also be already the first wave.
Wave 2 retraces exactly to the .618 level
In wave three now but facing strong resistance at the red line. If we break the range of the first wave, 3 should be confirmed
Comments appreciated
NEO - ABC correction of wave 2
C wave of the ABC is most difficult to play because it can be:
- double bottom
- truncated
- 1:1 extension of wave 1
- even further than 1:1
After that we know where wave 3 begins, we wait until it breaks wave 1 territory and enter.
Feedback Welcome!
ETC looks to be in the ABC correction of an upward trend
- expecting a retracement to 0.618 level.
- wave 3 targeting a 1:1 extension.
- wave 3 to be confirmed if red line is broken.
BTC is dragging the market down, take this into consideration.
Feedback is welcome!
Middle fib retracement levels match blue pattern, right fib retr. levels match orange wave
Based on the Elliot wave principles
IF wave 3 does a 1:1 to wave 1 then wave 5 can be 1.618
IF wave 3 does 1.618 to wave 1 then wave 5 can be 2.618 (or more)
note:
Wave 4 of minor and major match up (with a minuette 12345 inside) and although the minor wave does not do a...
Several options in my view:
- Either we've entered wave 5 of a downward trend (orange line) since 20k (blue resistance. If this is the case, possible retracement to 4k.
- We're in the ABC correction of the previous wave and about to continue. However it needs to break the resistances to confirm this.
RSI looks to test the resistance again but volume is going...
