Tommy_Trader

Tommy_Trader

Bearish inverted flagpole pattern could be derived. Usually for flagpole pattern, it touches the bottom and top trend line of the flag channel five times, forming ABC corrective waves. Then it breaks either bottom or top of the channel. How far it will go? I targeted 100% fib extension of the wave 1 for wave 3. For wave 5, I targeted 61.8% fib level of the...

Tommy_Trader

Seems like it likes to keep itself in a channel. Hopefully it's an uptrend channel. Also forming a symmetric triangle pattern. I think counting waves these days doesn't mean anything much significant. As long as the bottom line of the channel supports it well, I think I am much relieved.

Tommy_Trader

My perspective and position on the Bitcoin changes every fucking single day. Forecasting on future price of Bitcoin seems more difficult as time goes by. I brought up two possible scenarios for short-term future Bitcoin: one bullish and one bearish. The chart that I have published above is the bearish perspective. Double top formation where wave 5 doesn't reach...

Tommy_Trader

Here are some of my thoughts on current wave counts. Looking very bullish to me. Also marked some major resistance/support lines to watch out for.

Tommy_Trader

We are now right between the trendline, which acts as a strong support, and a resistance around 9400. By observing the recent momentum, I think it's still quite risky for daily traders to enter position.

Tommy_Trader Updated 

we have a double top and a double bottom forming a channel. One of them is going to break soon but I believe that support line is a pretty strong one since the trendline acts as a hard support now as well as the previous low point. Also seems like a good entry spot if you are a daily trader.

Tommy_Trader Updated 

I personally think counting the waves for BTCUSD is extremely difficult currently. I have updated my wave countings yesterday but I decided to bet on sticking on to my original countings. The corrective wave has broken the 0.5 level of the wave 1. If it breaks the 0.618 level which is around 10200, we might have to change our whole scenarios and possibly go back...

Tommy_Trader

I have recently updated my wave. Previously, I thought that the 1st wave had ended at Feb. 21st and the 3rd wave had started at Feb 26th. However, now I think the 1st wave is still on progress and my primary wave analysis is my alternative. That spot I thought was end of the 1st wave should be end of the 3rd smaller wave of the 1st wave. This seems more...

Tommy_Trader

Litecoin has been sort of sluggish while other alt coins started to sprint. I think it has been in its corrective phase where the price had been converging, showing a triangle figure. Similar to Ethereum, the low points are getting higher and the high points are getting lower forming a symmetrical triangle. Moreover, the RSI is being strongly supported by a firm...

Tommy_Trader Updated 

According to past histories of Ripple's behavior, whenever Ripple showed the pennant or flag pattern, it mostly meant it wants to go up more. I think we have last 5th impulsive wave waiting for us.

Tommy_Trader

For the 4hr chart, EMA had crossed over. Crossover had not been observed for a very long time and I think it is a bullish signal. Around that crossover area seemed like a good entry spot. If this rise is considered as 1st wave, we can expect the 3rd wave, another impulsive wave. Honestly, I think XRP is one of the hardest chart to predict. This analysis might...

Tommy_Trader Updated 

Since the 3rd wave is less than 1.618 of the 1st wave, the 5th wave will have tendency to overextend itself. I am targeting 0.618~1 of the length(beginning of wave 1 to top of wave 3). Also we can derive the the rising bearish wedge as known as one of the leading diagonal patterns. From now on, I will post BTCUSD -0.20% on US region server and BTCKRW -0.14% on...