Paraman666

Paraman666

GBTC (bitcoin), should find bottom very soon - based on my eliott wave count, the big 4th wave correction will be finished very soon and then we should see final 5th wave in multi year uptrend cycle. The invalidation level is at 17,4. If we hit that invalidation level, well then my EW count was wrong. So in my opinion, we have pretty great opportunity for buying right now.

Paraman666

BTC didn´t hold support at 40k, so next stop should be zone below 29k. There is huge liquidity area, lot of pending orders are there, so I think big players want to go there.

Paraman666

BTC is currently exactly in low volume area, which acts as a support or resistance, depending whether we are below this zone or above. So right now I see two scenarios: 1) Price will get above 46k and we will be trading sideways above that grey area and uptrend will continue. 2) Price will get below that grey box and we will eventually go back down to 30k - there...

Paraman666

ETH is currently much stronger than bitcoin and the recovery after that bloody and nasty drop was much stronger on ETH than on all other cryptos. I also think, that ETH bounce up in 5-wave fashion, in the leading diagonal, so the correction (WXY) might be done and ETH may be printing new all time highs pretty soon.

Paraman666

Bitcoin is currently below strong resistance box at 52k, price broke uptrend trendline and we have pretty strong downtrend trendline above us -> opening any LONGS don´t make any sense now, but sentiment is pretty bearish, so I don´t see any big move downside either. So the only other option is sideways price action. I think btc will be stuck at 42k - 52k range, at...

Paraman666 Updated 

OMG dropped hard due to selling after the BOBA airdrop and everybody, who was buying OMG for aidrop, probably already sold their OMG in quite big loss. However, when majority is expecting something (majority is expecting OMG continue in crashing), then usually completely opposite thing happens. I personaly think, that OMG is forming bottom, that the correction is...

Paraman666 Updated 

BTC is moving above previous all time high, but the volume isn´t convincing at all + the sentiment is quite bullish, the fear & greed index is in "extreme greed" territory, so I think, we might see 20% correction very soon, to retest very strong support at 54k. This move down to +- 54k, would complete expanded flat ABC correction and then we will very likely...

Paraman666

LINA was stuck in sideways range for 170 days, we can see nice accumulation profile and price managed to break above that accumulation zone with huge volume, so I don´t see any other level, that should stop LINA from breaking previous ATH at 0,2$.

Paraman666

BTC should still continue higher, sentiment isn´t bullish at all, it was even bearish, after that recent small correction to the downside and I don´t see any warning sign on RSI neither. Although from eliott wave standpoint, we might be finishing ending diagonal, so we might set top at 70k and then correct down at least to 60k.

Paraman666

Sentiment on all assets has been risk on, everything was going up recently, however DXY is suggesting, that dollar may continue in strenghtening, thus I think risky assets like crypto, stocks, commodities, will probably go down, while DXY will be continue in uptrend.

Paraman666

BTC will very likely surpass previous all time high soon and yet the sentiment is not that much bullish (bitmex funding rate is IMHO the best tool for recognizing current sentiment). I think BTC will continue in current uptrend wave, until the sentiment will be super bullish, than we will see correction. Of course, the second option is, that btc will drop down...

Paraman666

BTC dominance is reaching ultra strong resistance at 47,3%, the eliott wave count is pretty clean and we should be finishing final 5th wave and after this wave is finished, btc dominance will very likely start dropping, we should go down at least to 45%. Two bearish divergences should be confirming my EW. I think BTC will go sideways in next days/weeks, so...

Paraman666

BTC succesfully held support at 30k, then broke and held next support at 40k and then broke another resistance at 53k and price is inevitably going to test next resistance at 60k. However, the sentiment is finally being bullish, which means, that some correction is coming soon - I think we will see rejection at 65k-60k (we may even break all time high for a...

Paraman666

Sentiment on BTC shifted super fast, based on fear & greed index, we are in extreme greed and bitmex funding rate support that statement (most people on bitmex are in SHORT positions -> smart money should be in LONG right now). However I am not sure at all, if this will be long-term lasting bottom, that is being formed right now OR we will bounce up just to 45k...

Paraman666

Sentiment on crypto shifted from very bearish to bullish (though not ULTRA bullish) in the past 2 months and I definitely seeing signs of incoming correction. This eliott wave count on ETH is pretty straightforward and clear and I think, that this 70% drop in May this year was just FIRST wave in current downtrend and we should see another big drop (-70%) and ETH...

Paraman666

BTC has pretty damn trash sideways structure on lower timeframes, however sideways action means accumulation of longs or shorts. Right now, the sentiment is pretty bearish, because every trader see, that we are below that trendline and most positions on bitmex are shorts, which is the best indicator for incoming UPWARDS move. There is also interesting triangle on...

Paraman666 Updated 

I am currently in SHORT position, with super tight stop loss, however the risk reward ratio is super juicy and honestly I don´t see there any different eliott wave count.

Paraman666

Current structure is kinda crap, however there is falling wedge on lower timeframes, however I think this wedge is fake and we will drop lower, below 35k. Because while price is going down, the amount of shorts on bitmex is also going down and bitmex funding is usually very reliable contrarian indicator, so it probably means, that people see that wedge and they...