blacklabtrades

blacklabtrades

Currently keeping an eye on this idea. Needs volume to confirm, but there is a high probability that ETH outperforms BTC during alt season which may be around the corner after this overall market correction finishes.

blacklabtrades

This ones a little harder to read on the weekly, but after examining in smaller timeframes, I believe this subset 5 wave count of a larger 3 wave movement to be accurate. I was hoping that BTC on its' 5th of the larger 3rd would push a little further than it did and take DGB to ATH, but it didn't seem to quite get there. But, regardless, we are on track and will...

blacklabtrades

What I've charted out is the 5 wave subset movement of a greater 3 wave. Markets often reward patience. I believe there is more room for downward movement and the opportunity for better entries before starting the greater 5th wave up. Safe entry target of $125-$150 with final PA target of $495 around the 1.618 extension.

blacklabtrades

Ethereum is doing exactly what BTC is currently doing - starting the formation of corrective wave 4. Target is the .382 fib retracement level around $1300. Like I mentioned in my latest BTC post, I would not be surprised to see overselling towards the .5 fib levels (max target $1065).

blacklabtrades Updated 

Looking through the lens of a logarithmic scale printed onto a pitchfork, you can see we have already pushed past the 2.618 extension level based from the last major cycles movement and we are nearing the 3.618 extension while pushing through the median line of the pitchfork. I believe we are currently in a subset 5th wave of the larger 3 wave of this current's...

blacklabtrades

As expected, corrective wave 4 is starting its movement. Minimum target is the .382 fib retracement level around $38K. Wouldn't be surprised to see some extended selling reaching towards the .5 fib retracement level around $31K (max target) but some middle ground psych number like $35K is most likely IMO.

blacklabtrades

It appears Tesla is forming the beginning stages of a brand new cycle. The 5 wave movement I've mapped out appears to be the subset movement of a larger wave 1 in a new 5 wave cycle. Given the erosive nature of the corrective 2 wave and considering how hot Tesla has performed recently, this would allow for a healthy cool down period. Expecting a break out of the...

blacklabtrades

We are currently riding a subset wave 3 of a larger set wave 3. Minimum target is the 3.618 fib extension of the larger sets wave 1 movement putting us at previous ATH of .14.