Joseph_King

Joseph_King Updated 

Update on an oil theory that started back in November 2020: This idea was that a wave 4 completed at $33, however the move up accelerated and it quickly came apparent that the move up from $33 was not wave 5: In March 2021 I took another look with the idea that $33 was the end of wave 2 and the current impulse was indeed wave 3 that could end around the $77...

Joseph_King

Bit more closer look at this idea > Possibly in wave 2 of a 5 wave move to $43,000 as part of a larger degree wave 4. Invalidation point for this idea would be a break above $69,830 in the short term.

Joseph_King

Update to the below idea: Maybe possible that wave 5 of 3 is completed and wave 4 of 5 is underway; possibly to the 0.236 ($53,000) or 0.382 ($43,500) level before the next impulsive move up towards $90,000 There is still the possibility of further upside left in this wave 3 to the 3.618 extension at $71,400.

Joseph_King

An update on a series of BTC ideas, if my overall theory is correct we're now in the early stages of a small degree impulsive wave 3 to around the $70-80,000 level. September 2021 - Larger degree wave 2 to around the 0.618 level July 2021 - The small degree wave 2 from $36,000 to what turned out to be $30,000 before the push to $50,000+ June 2021 - The...

Joseph_King Updated 

Working in the oil & gas industry I've always wanted to plot an Elliott Wave idea with oil reaching $100, one that I felt was realistic and not pie in the sky...in my opinion oil is heading that direction now. The exact 0.382 retracement level from $44,05 to $33,79 at the end of 2020 leads me to believe that was the end of wave 2 and the next retracement will...

Joseph_King Updated 

An update on these ideas from March 2021: It appears that wave 4 is complete close to the 0.382 level and the next move could be wave 5 up towards the $90 level.

Joseph_King

A slightly different view on this count > Another idea that 5 waves was already completed in a larger degree wave 1 and now in a larger degree correction for wave 2 to possibly the 0.618 level; moving back above $53,000 from here could take us to new All Time High and beyond...

Joseph_King

Follow up on this earlier count on Bitcoin > Possibly in wave 4 now with wave 5 to follow. However the high at $53,000 could potentially be the end of a C wave and if price drops below $35,500 this will invalidate the 5 wave count and confirm the ABC correction, in my opinion.

Joseph_King

Thinking BTC might be due a pull back as there is bearish divergence on RSI and the MACD is on the verge of turning bearish. EMA 50 and the 0.382 level are at $40,000, possible pull back area before BTC goes on to make another high.

Joseph_King

An update to this idea > Maybe 5th wave is completed or could possibly reach $43,000 to complete a larger degree wave 1 before a correction towards $36,000-37,000 for wave 2

Joseph_King Updated 

Idea on BTC that currently wave 4 is underway to around the .382 level before a 5th and final wave towards $42,000. The alternative is that wave 4 is already complete where price touched the .236 level at $38,800...in that case wave 5 is already developing >

Joseph_King

Idea on BTC that wave 2 or B is nearing completion and breakout above the slanted trendline could lead to a considerable rise in price

Joseph_King

A couple of ideas in one chart on BTC that are linked to this idea > Scenario 1: Either ABC is completed at the recent low and a new impulse is emerging to new All Time Highs. Scenario 2: The ABC to recent lows is just wave W of a more complex WXY that could end in the $20-$25,000 range before the next impulse.

Joseph_King

There is classic bullish divergence on 1D chart for BTC which could indicate a reversal of the trend.

Joseph_King

Follow on this idea > Possibly nearing the end of an ABC correction

Joseph_King Updated 

Idea on BTC following on from below idea that impulsive move has started and maybe nearing completion of wave 1

Joseph_King

An idea on MATIC that we're partially through a wave 2 correction with an impulsive wave 3 coming next to at least $5

Joseph_King Updated 

Taking a look at something other than Crude Oil for a change. It appears that Copper is out of a 10 year bear cycle and a bull cycle started in 2016. A look at the beginning; you can see wave 3 hit the 4.618 extension of wave 1 perfectly and then corrected perfectly to the 0.236 level for wave 4 > If you add in the subwaves of wave 5 there is also a nice...