DowBits

DowBits Nov 24, 2017

POLONIEX:ZECUSD Zec is turning from the bottom on the channel. An ideal target should be the top of the channel which is currently at 370 and rising. To protect capital, stop loss should be setup below the bottom channel line.

DowBits Updated  Aug 21, 2017

POLONIEX:STRUSDT The immediate resistance is around 0.23 area. If it breaks then we could expect to continue rally to .038 which is 38.2% of a Fibonacci level of a recent downward move. It's quite possible that we have already seen a low and new bullish wave would continue to new highs.

DowBits Updated  Aug 21, 2017

DASHUSDT Trading is easy when the patterns are easily identifiable. There is a case of both bullish and bearish scenario which I will discuss one of one. Bullish Scenario: It's currently testing a potential neckline. It could be argued however if it's a valid head and shoulder with left should is not touching the neckline. If it breaks the resistance, there is...

DowBits Updated  Aug 15, 2017

BITSTAMP:BTCUSD Here is the breakdown of Wave (5) within primary Wave 3. This may sound bit complex unless you have some understanding of ElliotWaves. In a big picture, the current rally is out of bigger channel range which could make any experienced trader nervous with a long position. A breakdown of a short term channel will be the first confirmation if a...

DowBits Updated  Aug 15, 2017

POLONIEX:BTCUSDT Ok, We might have seen the top or at least for a short term. In the coming sessions, the first thing to confirm will be the 5 wave down movement at the micro level. This will confirm that further selling pressure will resume after a-b-c rally. The short term target will be the bottom channel line in blue. From that point, there is a possibility...

DowBits Updated  Aug 14, 2017

POLONIEX:ETHUSDT ETH is forming up a traingle again. Last time it broke the other way so it's important to wait for breakout confirmation. Resistance at 318 looks major one and I think it would take a couple of retries before the breakout.

DowBits Aug 13, 2017

KRAKEN:LTCUSD There is challenge labelling the lite coin wave structure due to extreme rally and prices aren't fitting the scale. The best interpretation based on the volumes, I have labelled the rally from 03/17 -05/17 as Wave iii. It could have been marked as i. the reason I did it because of the higher volume which is consistent with ElliotWave guidelines. If...

DowBits Updated  Aug 13, 2017

The channel is based on the logarithmic scale to see the over all context. The rally since the bottom of Wave 2 circle appears to be topping and here are the reasons to believe it so 1. The recent evidence is a throw over the upper channel line. It does suggest that any upside from here should be for short period. 2. The structure of Wave 3 can also be sub-divided...

DowBits Updated  Aug 13, 2017

POLONIEX:NXTUSDT NXT is back at rising channel support. It's currently testing the support at the bottom end of the channel. If it turns again, there is potential for it to test the recent high around 20 cents or even the upper channel resistance. In the last upward swing it reached the upper channel resistance in only two days. As of yet there is no bullish...

DowBits Updated  Aug 13, 2017

POLONIEX:NXTUSDT The recent rally in NXT could have been A-B-C upward push from the recent bear. With that the bear market should resume however the alternate count looks too Bullish. In the Bullish case, this could be initial phase of Wave (3) which could take prices much higher than current levels. The current counter trend push is potentially a Wave (ii) of...

DowBits Updated  Aug 13, 2017

POLONIEX:BTCUSDT The key support has broken further confirming the view that wave (5) rally was indeed complete. The correction can develop a complex pattern which needs to be assessed from time to time but at the moment looks like it's early stage of a bear. As per the Elliot Wave guidelines, the gains in wave 5 get washed out in three wave correction (ABC)...

DowBits Updated  Aug 13, 2017

POLONIEX:ETHUSDT Triangles are generally continuation patterns.With a bullish breakout, it should move to resistance area near $320.

DowBits Updated  Aug 13, 2017

With the current weakness in BTCUSD, NXTUSD pair looks good for Bullish scenario. A bullish candle between .1157 and .09353 levels which are Fibonacci levels of 38.2 and 61.8 respectively would offer an ideal entry.

DowBits Aug 13, 2017

NXT could be consolidating in the triangle pattern. Triangles can be grinding and exhaustive as it could consume a lot of time. If the wave interpretation is correct then a sideways movement will continue in coming weeks with squeezing price activity. An ideal entry would be at the bottom of Wave if it continues in the pattern. An ideal Wave 5 target would be in...

DowBits Aug 9, 2017

Updated the Elliot Wave count based on recent progress. We might have completed (v) of the V of the (5). In coming hours the first confirmation will be the breakdown of recent uptrend as shown in the blue line. The trend line support is currently at 3000 area and rising. It doesn't mean it can't make another high, the Wave count interpretation suggest that upside...

DowBits Aug 7, 2017

POLONIEX:BTCUSDT The volumes are on the decline with recent highs. The recent correction appeared to be Wave iv of bigger (5) than start of a bigger correction. Wave V within (5) got extended and which allowed the recent highs. There is room for further upward push with small wave (v) within V. Once that structure complete, selling pressure will build.

DowBits Jul 23, 2017

POLONIEX:BTCUSDT The wave (5) structure looks complete with further 5 subdivisions however the upward channel still intact as I am writing. Breakdown of the channel will further confirm if Wave A had been started while breakdown above 2913 will negate this scenario. Another alternate is that wave (iv) is not complete and forming a triangle which will end up with...

DowBits Jul 22, 2017

POLONIEX:BTCUSDT The wave pattern appears quite clear in this market. With resistance in 2900-3000, looks like the top is in place for BTC. There are two possible scenarios from ElliotWave perspective. First, the final wave (5) has just completed which implies that ABC correction should start. The minimum target for correction would be 38.2% Fibonacci retracement...