Bmello

Bmello

Higher highs and falling back in. there has not been a fallout out of the channel. Waiting for more confirmed failure.

Bmello

The slow stealth decline can not be ignored. A three wave flat has been invalidated, It moved too high. So now a Triangle is forming. Good luck after the 3rd lower high. It's due for a correction after the E wave back up.

Bmello

I really don't care if the FED cuts by a quarter point, or a half a point. You are not going to steal my labor anymore. Strong bull case for the upper fork to get hit. Watch the charts, nothing else matters. Let's see Silver make a break for it. There is nothing cheaper you could speculate on.

Bmello

Under the 21EMA. It's all vertical. No signs of slow down and hitting the breaks.

Bmello

I got three declining highs and and it's stair stepping down. Watch your back if it slaughters 61k.

Bmello

DXY came back to the hit the 50MA. Their goal is try to slow down the precious metals market. It's not going to work out for them longer term.

Bmello

The DXY is trying to hold on from a trap up that never should have ran

Bmello

Breaking the mid range, It has overstayed it's welcome for the last few weeks.

Bmello

After doing more research of us being over extended. The only way up now is with a sharp 50% correction jagged above and below 40k. It's best to just avoid the meat grinder and just wait for a clear close above 39600. Final move could take us near 46k.

Bmello

We have had three rejections to get above this 9MA this morning. I would like to see them sweep the lows and try to impulse to 45k.

Bmello

Elliot Wave rules. You are expected to retrace into the area of a Fourth wave of one less degree. Triangles can be found in 4th waves. I have a triangle in pink below around 9k. Expect price to land somewhere in the center of the Triangle. Happy 4th of July and hope everyone crushes it.

Bmello

We need a 5 wave down for C. This is going to mercy rally up for 4th wave to around 26k and we come right back down to test support for the fifth. Happy trading.

Bmello

I have coined this structure the vomiting funnel. It's all three waves and a failure to rotate. We could easily label the funnel 3 waves W. and the break out from the Apex X wave leaving us room for three more waves to the down for a Y. No matter what the target ends up being It's a very ugly structure with a very bearish outcome.

Bmello

I have one bullish Elliot Wave count that makes this an expanded B Flat, Which should spike up. The bearish scenario makes this a flag that could extend down into the 18K area. Considering all the failed attempts and never crossing over the trend-line I'm inclined to think the Whales will take advantage of the pending MACD daily bear cross. Get everyone on the...

Bmello

Welcome to the chop that liquidates both sides. This is neither an accurate count or a crystal ball. All I can see here is an upward struggle that should not be pumping through this mountain climb with ease. I'm all for it if it wants to double bottom and fill all the failed rotations it skipped on the dump down. This could just end up a B wave, and we go to 25k...

Bmello

We have one more leg down that should break all previous local support, Then we should attempt to rally on a lower low to as high as 49200 to fill the unfilled space above. From there we continue our decline to as as low as 13k to to find support.

Bmello

What we have had from 69k is failed fifth wave, and from what I'm seeing the buyers didn't want it. What I believe we are in now is a wave 2 reset down. Unfortunately for some we are going to rebuild all over again to as low as 8k VPVR that gauges buyer and seller activity had no volume in the middle. That is because we spent no time building support, We went...

Bmello

There has been no time in Bitcoins history that the disparity between the 200 Weekly MA has been this disconnected from the other averages. There is no ascending trend. We just lost support again. A Head and Shoulders target is not deep enough. We need to triple the range down until we touch a trend-line Happy Holidays.