asodaforbabyyoda

asodaforbabyyoda Updated 

Bitcoin and crypto in general has been in a massive decline since November 2021. On May 12, 2022 we've seen signs of a panic selloff. However, this decline was mostly reversed by the end of the day resulting in a massive candle wick. Sentiment is at an extreme right now ( alternative.me ) which is actually a good sign. Many are calling for $20K Bitcoin, but I...

asodaforbabyyoda Updated 

With sentiment pointing at extreme fear for weeks now, BTC is near a bottom. RSI bottomed on December 10 and has been rising steadily making higher lows. We've seen a similar consolidation happen back in July before a massive multi-month rally. These consolidation periods feel like they last forever, but if you zoom out you'll see that they are just a normal...

asodaforbabyyoda Updated 

QTUM has regained momentum from the May/June selloff and looks to be in good position for the upcoming bull run. Since the selloff, it has climbed in a clear, impulsive Elliott wave pattern and subsequent correction. It looks like we are starting the third wave of the final wave of the bull run and lows suggests a potential parabolic rise. If so, the potential...

asodaforbabyyoda Updated 

Ethereum has displayed a near perfect idealized Elliott wave form thus far. Notice how wave (2) was a zig-zag and (4) is flat which is in line with the alternation guideline. We should see a similar pattern play out for a flat wave 4 of one degree higher as the recently completed correction was a perfect zig zag as well. I'm looking for a $12 - $16K target to...

asodaforbabyyoda Updated 

Practically all cryptos are sporting the same pattern. Each has a clear 5 waves up, 3 waves down pattern since the Jun lows. We should beginning the 3rd of the 5th wave of the bull run which should take most if not all cryptos to new all time highs. I've used the 4.618 Fib extension for a *minimum* target. Exciting times ahead!

asodaforbabyyoda

RFIL is sporting a beautiful Elliott third wave pattern. It's hitting some resistance right now, but is threatening the near term top of a bit of $12 which should occur within a month or so. Longer term, RFIL has had an incredibly long sideways wave 2 correction from 2000-2017. However, since then we can see a clear impulse wave and corrective wave. The...

asodaforbabyyoda Updated 

VTSI has moved up nicely during these past couple of days when the stock market corrected. The upside for VTSI is considerable since it is in a bullish Elliott 3rd wave. The downside is that gap at $5.07. With such a small downside risk, this is a good entry point. I'm not sure if anyone's following this as I didn't get any interest on my last post for VTSI...

asodaforbabyyoda

The amount of fear in BTC and cryptos in general in the past few weeks has not been seen since the pandemic low of March 2020: alternative.me . We will still need to back test the V shaped rally, but that amount of multiweek fear is a perfect backdrop to mark the end of a correction. I believe El Salvador making BTC legal tender is the beginning of a sea change. ...

asodaforbabyyoda Updated 

You can sense the fear out on social media regarding BTC. This is the perfect back drop for a wave (4) low. The A-B-C correction of the past few weeks has shaken the confidence of many, but in reality this falls within a parallel channel that BTC has been in since the March '20 low. As BTC goes higher and higher, the swings feel larger but percentage wise,...

asodaforbabyyoda Updated 

Despite the large correction to shake out the weak hands and overleveraged players, BTC is still essentially running sideways. Recall last year we were running sideways seemingly forever before the break out. Nothing goes up in a straight line. It's sometimes useful to put things in perspective. The breakout last year was around the $10K mark. We're roughly...

asodaforbabyyoda Updated 

Cardano has been moving sideways for a number of weeks now. However, it looks like it is ready for the next leg up. The Africa Special seems almost perfectly timed. Elliott waves 2 and 4 corrections are often alternating in form so the flat correction of the past few weeks fits in perfectly with the sharp correction it had last fall. Although it's not going to...

asodaforbabyyoda Updated 

ONT broke through earlier and is right now retesting the Jun '19 high of 1.88 (orange line). There's a ton of open space with little resistance (gray lines) before ATH. On the daily, its wave 3 is still in its early stages of this bull run so this represents a great value at this price.

asodaforbabyyoda

CRO looks to be in perfect position for the next rally. On the long term view it's already completed waves 1 and a very sharp wave 2. It's broken out to ATH recently and has pulled back with the rest of the market. On the hourly chart it has a textbook Elliott Wave pattern. And since the completed 5 wave pattern did not exceed the ATH, it looks it's just the...

asodaforbabyyoda

One of the guidelines for waves 2 and 4 of Elliott Waves is that they are often alternating in form. If one is sharp, the other is often flat. You can can see wave 2 for GRT was a sharp zigzag. Wave 4 has been flat and lasted longer than I expected. The consolidation looks to be over with an impulse wave to kick off wave 5. The crypto market looks healthy...

asodaforbabyyoda Updated 

VET attempted a breakout of resistance on Feb 20, but unfortunately, the crypto market was in correction mode. Now, it looks like cryptos are ready for at least a mini rally and VET is one of the leaders. First target for VET would be the 4.618 extension from the circle wave 1 high which is about 0.102.

asodaforbabyyoda

The long side ways correction that's been ongoing since Feb 12 is too long to be the fourth of wave 3. I've relabeled this correction as primary wave 4 which implies that the 3rd wave ended on Feb 12 and we should soon be starting a 5th wave. This makes wave 4 proportional to wave 2 of the same degree. There's no hard requirement that it has to be, but it is...

asodaforbabyyoda Updated 

The market decided to do a head fake and invalidate the a-b-c-d-e contracting triangle correction. Instead it's either a w-x-y in which the correction is over now, or an a-b-c zigzag where c needs one more leg down before resuming wave 5 of 3 which I'm still targeting $4.80 - $6.22. Looking at how BTC quickly reversed today's plunge (... at least so far), I'm...

asodaforbabyyoda

In my previous post, I targeted $3.38 for the next Fibo stop (4.618 extension from 1st wave of wave 3 of 1 degree larger). Technically, that could mark the end of the 3rd wave, but I think that's unlikely the end. Wave (1) of this 3rd wave took 7 days, and if wave (5) is on the same order, a move to the 6.618 or 8.618 extension looks more likely, giving a price...