elegant_banzai

elegant_banzai

I'm not 100% sure if the term symmetrical triangle applies to the current situation in XLM. The problem here is that the coin has no relevant history even on the log chart since it went up so high recently. But there is a clear triangle shape and more often than not you can count A-B-C-D-E... and F will be the point where the symmetrical triangle breaks out from...

elegant_banzai

I went trough the financial statements for Hashchain and learned a lot about business activities of this sleepy little gem over the last couple of months. Basically they are acquiring hashing equipment from other companies that they consolidate in their canada based data centers to leverage the cheap electricity costs to have a edge over the general market. Most...

elegant_banzai

These random bitcoin price movements are annoying as fuck. I'm outraging. Like 10% fluctuations per day in a completely illogical manner. but looking at the long/short on Bitfinex, we have a new low in 2018 and we are very close to the levels of September and November 2017. Both ended with a short squeeze. The difference is that today are more shorts and more...

elegant_banzai

The last drop following the SEC announcement to delay a decision about the CBOE ETF to late September disturbed the elliot wave count of the current correction. While it was already unrealistic to count 3 waves (ABC correction) in the last leg down, now it became unfeasible. This makes it more likely that we just finished wave A of a ABC correction. The plan...

elegant_banzai

Two more hours before the Okex whale drama finds a resolution. I had a buy order for my shorts on bitmex at 7287 but missed the low by 4 points. It was a good trade though. Now i wonder if the price shoots up once the issue is resolved. From the elliot wave standpoint - and the reason why i put my order where i put it - wave 4 found its target and we can see...

elegant_banzai

We are patiently waiting and holding our short from 7560 because the price did not break out of the cloud and the upper limit servers as secure resistance that would be retested after a breakout. so we can assume that IF the price breaks 7580 to the upside we can assume to be able to hand back our short to the market around that same level with minimal loss or...

elegant_banzai

The current correction looks untypical from the elliot wave count on the micro level. If you go down to the hourly chart you can not count the waves on the current down move because it kind of violates the rules. To make it easy: there is always a bigger Elliot wave that we are in and thus we can assume that we are in wave 4 down before that final push up...

elegant_banzai

I'm waiting for the plebs to buy this shitcoin up again. Bitcoin stopped moving, so Ripple you know it's your turn. GET YOUR ACT TOGETHER! This quality content was brought to you by a happy feeling deep down in my stomach.

elegant_banzai

As you might know the primary selling point of BitShares is the decentralized exchange which is the only one that is operating with volume right now and for years already. Some other banking services can be implemented on top of BitShares making use of the stable coins but so far these didn't pick up steam. The idea is that while there is a lot of potential...

elegant_banzai

IOTA is a really nice project and I love it for the idea of decentralizing proof of work by not incentivizing it financially. This idea will save the planet. In fact I believe that IOTA will be the only proof of work coin that will be still in existence after a general government ban of mining which has to be expected later this year due to the skyrocketing energy...

elegant_banzai

From a technical standpoint we are in a uptrend. Lisk was the only crypto in my list of coins that I picked up early January that made me smile a bit by recently turning into a small plus while all other coins stayed depressed way under water. As I know that there is the rebranding coming on February 20 and I will make sure to visit that event in Berlin, please...

elegant_banzai

I don't call targets since there is too much resistance on the way resulting from the bumpy way down. But lets say everything points to 10k in the very short term. This is a classical triangle pattern with low volume and visible accumulation paired with the deisbelief of the bears in the market that are ripe to be converted to bulls. the next test of the upper...

elegant_banzai

looking at this i think we go up the the orange line. because we always did. currently it sits at 9k people put in sell orders on the current price, even if it will be lower once we get there it still might go up crossing the line to 9k. 8k is critcal since it represents several major resitance lines: - most importantly the 200 day average that we broke on the...

elegant_banzai

I was wrapping my head around how many bounces are allowed in a bull flag as it was entirely possible that we are still in a bull market even with the 65% correction from all time high. But the triangle did not really fit since the lines are not respected by the price. But there are more complex correction patterns in the Elliot Wave theory that could possibly...

elegant_banzai Updated 

In classical 3 part corrections in elliot wave the C wave should be of the same length as wave A and wave C should be the most violent. So far we can witness a 5 part impulse wave that we can label A and a 3 part retracement wave that we can label B. What needs to follow is a wave C and here it gets tricky since having the same length in wave C as wave A would...

elegant_banzai

The current price action shows signs of weakness. The problem is in determining how low can it go. the current triangle makes me believe that in case of a breakout to the downside, the ultimate target would be 5000 USD. We have strong support in the 8000 USD area. On top of that a lot of new investors stepped into the market in september when the price was in the...

elegant_banzai Updated 

Watch out for the EMA20 to cross the EMA50. this is the blue line and the pink line. This is called a golden cross in traditional markets and indicates the start of a major downtrend. We are still in a bull market, but there are lower targets to reach good entries. For instance the retest of the 5k area which is supported by the 161% extension of the breakout of...

elegant_banzai Updated 

I leave this here as my speculative piece that I can point to later when I want to say "I knew it" My prediction for February 1st is a price above 19000 USD and below 25000 USD.