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WAVE-E

BITCOIN - Final Capitulation is NearCryptocurrencies have experienced quite a shake down lately, impacted by the challenges in the global economies as well as crypto world itself. But how much deeper can Bitcoin fall before the final capitulation? Technical Analysis (Elliott Waves): The global count indicates that five wave impulse was completed at the peak of April 2021 - see the full chart below An alternative scenario would be to have the fifth in November 2021. However, there are few reasons against it First, the correction from the high of April was clearly formed by a five impulse which indicates that it is likely to be part of a bigger corrective pattern - marked as wave A Second, the bull run from June 2021 to November can be at first looked at as an impulse, but at a closer look it is visible that some rules were broken - wave 4 is shorter in duration than wave 2, and generally it is more likely to be a series of zigzags - hence it can be counted as wave B And finally, the latest drop from November high is also moving in a five wave formation - hence wave C of an Extended Flat Given this five wave impulse have formed the first wave in the global cycle then the second wave can be expected to retrace to the level of 0.786x ($13900) or deeper, where the next support can be found at the level of accumulation in the previous wave 4 of a triangle, $9100 Once the correction is completed a new cycle in the global wave 3 will begin. However, it is likely that until the economy is fixed and Fed switches on stimulating monetary policy , this new bull cycle will be very slow to pick up the pace What do you think about this scenario? Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves. Thanks
BITSTAMP:BTCUSD
by vitalalyt
5
WTI Oil - New Highs to Come?It is incredibly difficult to analyse this commodity fundamentally so let's see what technical analysis may suggest? Technical Analysis (Elliott Waves): Since the sharp fall of March 2020 it is likely that we are observing the development of a global zig-zag ABC Five waves of the first impulse A completed in July 2021 Wave B took shape of a complex Running Correction WXY finishing in November 2021 And since then we can see formation of another impulse in wave C Waves 1 to 3 of this impulse culminating in March 2022 are quite clear which have been followed by a flat correction in the shape of Double Threes WXY The crux of the analysis is developing right now when the price started moving in a very choppy way The previous scenario still stands and it is very likely that we are observing development of an Ending Diagonal in wave 5 (see educational post below about the structure of this wave) Waves 1-3 have formed and we can expect correction of wave 4 to last at least until end of June / fist week of July to the level of $103, followed by the last zigzag to top the high of $129 This is quite complex scenario so it needs to be monitored against all the rules of Ending Diagonal. What do you think about WTI Oil and its short term prospects? Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves. Thanks Educational post on Ending Diagonal
TVC:USOILLong
by vitalalyt
1
ETC buy zone is hereThis idea is crafted with a bullish mid term mindset, trading spot / 2x leverage with DCA implementation. I am entirely aware if BTC breaks below 40k, it is likely that alts will be unpredictable. I am not considering this scenario in this idea. ETC has been consolidating for about 210 days from its 183 ATH in may 2021. My idea is that these levels marked 1, and 2 on the chart are a good place to accumulate based off BTC showing strength pushing 51k today. Indicator wise, we have been reaching rock bottom RSI levels and deep momentum waves marked as blue boxes, both today and September 2020 have levels this deep. You can see this was a relatively safe buy zone as ETC rose 3600% in the coming 200 days. I have also marked an ABC structure coupled with a FIB from the top of the A wave and bottom of the B wave. This would give an approximate secure profit level at somewhere around 170-260 USD. It's entirely possible to retouch level 2 at around $17 if we saw BTC drop to 42k before pushing further upwards.
Long
by El_Goblino