This could very easily be a channel in which case we would expect a higher wave circl iv, but for the time being I am watching it as an ending diagonal. I welcome feed back. First target: $6000-$5500 Second Target: $5000-$4700 *THIS IS NOT TRADING ADVICE*
Possible ending diagonal to finish off an ABC flat for ETHUSD in it's wave (iv) of primary 4. Targets $330-$275. *THIS IS NOT TRADING ADVICE*
Here I'm tracking BTC on small time frames watching for a temporary bottom. We are looking to determine whether we are looking at a wave 1 of an impulse kicking off an upward trend or simply an ABC corrective formation. The white count shows the potential 5 count up (white count) that would makeup our wave 1, or a corrective ABC (red count). Key things to...
Seems we turned around right at the 3.618 extension in my last post (see link below). I am thinking it is likely we are seeing an expanded flat ABC here, with the b wave extending 123.6% of wave a and we can expect wave c to extend to 123.6% of wave a's length as well, from wave b's termination. It could, however, fall in the range between 61.8-1.618%. $6850...
Similar to my post in ETH. Looking tot hold this channel. $6000-$5500 current price target. Will try and update with more later. Likely still days/weeks away, but it's coming. This option would invalidate my A&E double bottom theory with a new low. Buckle up friends.
Currently watching this ending diagonal on ETH. Might climb to anywhere between $425 and $450. Could go higher, could fall short. I think following that we will see one more drop, retest previous lows or we could see $300. This move is near done, just need to find some support.
Wanted to throw this updated for BTCUSD out there. My projections for $14500-$17500 have gone unchanged for my bullish case, but I wanted to show both my bullish and bearish counts. I also want to preface this by saying we are 100% in a downtrend, despite what other analysts are saying: unless we break the downtrend line and start moving up in 5 waves above $8800...
Now I am not suggesting this is the most likely outcome, I'm just posting this to track the possibility of a larger scale Adam and Eve double bottom, which BTC tends to be a fan of. This would provide a scenario in which this bear run bottoms out without explosive volume, as was seen in the $5900 bottom in February. Volume matches as well, usually higher in the...
No particular targets here as of yet, may update, but am still out of town with poor internet. ETH needs to hold this channel support or else further lows are to come, obviously. Just wanted to post this as something to watch in these trying times.
Looks like Facebook, FB, is in a zigzag ABC, recognizable by the 5-3-5 subwave division. Following common fib retracement levels, this is one possible outcome for the remainder of the correction. Wave three targets $139, which is roughly equal to a 1.618 fib extension of wave A. Initial target: $139.74 Final target: $132.80
This will be one we will have to dig up a few years from now, but just messing around with a fib calc. for EWT I plugged in primary waves 1 and 2 and got back the three dashed lines as targets. We are suspiciously close to the wave 3 target. It's felt a bit wave three-ey lately... Time will tell, but $26,000 to $6,000 would be pretty insane to see in our lifetime..
Been playing around with fib ratios and think we might be working towards something like this to complete our (c) of B. We turned around from our bottom last night/this morning with 5-waves up on the micro. Based on that, I think we could make a run for $8700. I believe we still need one more wave down to complete this corrective leg before getting some bullish...
Breaking aboe $8750 would invalidate my micro count on BTCUSD that currently shows wave 3 of 5 down. As it stands I still suspect that we are in wave 4 need a 5th down to complete this bottom. I see too many similarities with the last wedge as well, both in count and in technicals. Short near-term, bullish after a bottom is found. Currently sell target: $8450,...
We may be nearing the end of our wave (b) with an ending diagonal as seen here. This goes back to some of my earlier predictions of a rally to $14500-$17500 and would fit this narrative nicely. It is typical, however, for wave 5 of ED's to overthrow or overextend past the trend lines so play it safe here. If this is correct, however, we can expect a strong (c)...
If this plays out as a 5-wave down, we could see the 176.4%-200% fib extensions. I anticipated an ABC, but it is possible we see a 5-wave move down. I then see a healthy move up to the $1250-$1750 range.
Ignore all the mess on this chart, most are just personal notes and such since this is the main chart I've been using. The things I'm trying to highlight here for BTCUSD is the large time frame falling wedge that we have broken out of (with a little help from an inverse head and shoulders) on this most recent rally, and the rising wedge we broke out of last...
I wanted to get this posted in time to potentially embarrass myself. This has been a difficult wave to figure out, even in retrospect. I will update this with more detailed charts explaining how I got my counts. I actually have three different bearish counts, all with the same targets. This is just to track and show targets. Bullish case (green EW count), we...