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Correction

AUDUSD I Brief correction and more potential downsideWelcome back! Let me know your thoughts in the comments! ** AUDSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
14
Will BTC Break and Bounce from their 200 Moving Average or Fall?In light of recent market trends, Bitcoin is set to pump due to its strong respect for the 200 EMA as a key support level, indicating robust investor sentiment. Coupled with increasing institutional adoption and favorable market indicators, this sets the stage for a potential bullish surge in Bitcoin's price. While strong indicators suggest a potential upswing, it's critical to understand that market cycles are inherently unpredictable and don't always follow historical patterns. Investment decisions should always account for the volatility and risk associated with the crypto market, underscoring the importance of a well-diversified portfolio. For an altseason to kick off, typically, we would first need to see Bitcoin consolidate or slowly trend upwards without extreme volatility. This stabilization often leads investors to look for higher returns in altcoins, pumping more money into the broader crypto market. It's crucial to remember, though, that these market cycles can be unpredictable, and risk management should be a top priority during any potential altseason. "What are your top picks for the next altseason and why?" "Do you agree that a Bitcoin consolidation phase could signal the start of an altseason?" "What strategies do you use to manage risk during a potential altseason?" "What indicators are you looking at for potential crypto market movement?" "In your opinion, how does Bitcoin's current behavior align with previous market cycles?" "What's your perspective on the correlation between Bitcoin's performance and the altcoin market?"
CRYPTO:BTCUSD
by MarkBTV
1
Bitcoin Is Finishing A Corrective DeclineBitcoin with ticker BTCUSD made nice and clean A-B-C correction in the 4-hour chart as mentioned and highlighted. We can actually already see it trying to wake up from the first 26k support area, but to confirm a completed correction, we need to see a recovery back above channel resistance line and 29k region. Just in case if correction is still in progress, then next deeper support is at 25k-24k that can be tested within an ending diagonal (wedge) pattern for wave C according to count #2.
BITSTAMP:BTCUSDLong
by ew-forecast
1
Next stop 30-35K , when the big drop will happen?Sitting in a support inside 27K Calm your hype; we aren’t in a bullrun yet and the botttom isn’t in. The correction and bear market isn’t over yet. This is the perfect time to buy and then bitcoin should ride off along to get to the top which will take awhile; I see this as a long term. Please use proper risk management of your own. When the big drop? Big drop we should expect around 34K-36K then long term downside and correction respecting resistance back n forth. Then bitcoin will bottom in around inside $10K area of inside sound 8000$ area. Should bottom in a month before the halving in 2024 and bull run will begin from there BITCOIN HALVING DATE/DEADLINE: April 27th,2024 If missed any my recent post it be link related below. Trade safe y’all and watch reversals
BITSTAMP:BTCUSDLong
by JoyBoyVegae
1
Broken Channel Support On EURUSD Can Cause Deeper Correction“USD is turning up vs EUR ahead the US debt-ceiling deadline. EURUSD pair breaking the trendline support“ The USD is higher while stocks are still somehow sideways. The reason for the higher USD can be optimism and speculation about US debt-ceiling. We expected that they will approve it, otherwise, this will cause a lot of damage on the financial market. Yellen has repeatedly warned that »failure by Congress to raise the $31.4 trillion federal debt limit could spark a “constitutional crisis” and would unleash an economic and financial catastrophe for the U.S. and global economies”, as reported by Reuters. USD is trading higher with US yields, and it appears there can be more USD strength coming when looking at the EURUSD pair. From Elliott wave perspective, every five-wave impulse from lows/highs suggests a change in the trend, but most importantly, after every five waves there comes a three-wave correction. EURUSD has been trading higher as expected and reached a new 2023 high, where we still think that pair can have now a “temporary” failure break to the upside, which certainly can be the case as recovery seems to be slow and overlapping up from March 1.0517 low. So, latest leg up EURUSD from 1.0517 low, can be an ending diagonal in wave 5 of a higher degree five-wave bullish, which is also a very strong bullish reversal pattern. Now that EURUSD is turning down, we can also see the pair trying to break out of an important Elliott wave channel support line after a bearish divergence between highs of wave five and wave 3 which is usaully the case at an important top of an impulse. That said, we think that a higher degree correction can be underway now with next ideal support for the EURUSD this year visible at the former wave (4), 1.05 support area.
by ew-forecast
2
Reminder for Ethereum buyersSame for bitcoin but for Ethereum is a bit different. Ethereum had made of its own roadmap; so it’s going to be a bit of a roller coaster. 400-550 area is the bottom for Ethereum. The blocks from it going to be incredible before bitcoin halving in April of 2024. History is slowly repeating itself of all cryptos ( some of it had gone there before). The new uptrend needs to be created ASAP; old trendline couldn’t hold much longer but has to create new lows & new bottom to form an stronger uptrend. The new high for Ethereum is $10,000 but I can see will hit $5,000 more before 2030. Overall: The buys going be short and mid term just to meet resistance before the big crash and the bears are already back will be stronger than ever. Trade safe and watch any reversals do your thing. Let’s make this bag
BITSTAMP:ETHUSD
by JoyBoyVegae
Reminder for bitcoin buyersReminder in case forgets; 15K isn’t the bottom.. the floor from it isn’t enough strength for the bulls. The strongest floor for bitcoin to bottom in is inside $10,000 area; apparently about 10,800-10,200 area around there. It be a lot lower only if it happens we will see because experts said 5000-8800 area; could happen maybe. After the big drop the buy will be short and retrace to complete the correction; some will be short or mid term.. watch the reversals and the candles movements. Where it’s at right now should be able to hit 35 or maybe 40K before the longterm sell off downturn comes around. Anyways trade safe and let’s make that money
BITSTAMP:BTCUSD
by JoyBoyVegae
2
Elliott Wave Forecast: Dollar Index ($DXY) Rally Should FailShort Term Elliott Wave View on Dollar Index ( TVC:DXY ) suggests that the rally from 4.14.2023 low is in progress as a zigzag structure. Up from 4.14.2023 low, wave ((a)) ended at 102.23 and pullback in wave ((b)) ended at 101.02. The 1 hour chart below shows the starting point of wave ((b)). Index is now extending higher in wave ((c)) with internal subdivision as a 5 waves impulse. Up from wave ((b)), wave i ended at 101.43 and wave ii pullback ended at 101.1. Wave iii ended at 101.63, wave iv ended at 101.124, and wave v higher ended at 101.77. This completed wave (i) in higher degree. From there the Index pullback in wave (ii) which ended at 101.04. The Index then extends higher in wave (iii) as an impulse. Up from wave (ii), wave i ended at 101.83 and pullback in wave ii ended at 101.21. Wave iii ended at 102.15, dips in wave iv ended at 101.97, and now the Index is looking to end wave v which should also complete wave (iii) in higher degree. Afterwards, Index should pullback in wave (iv) to correct cycle from 5.8.2023 low before it resumes higher again. Near term, as far as pivot at 101.02 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
TVC:DXY
by Elliottwave-Forecast
1
Elliott Wave Impulse Decline in XOM Suggests Further DownsideShort term Elliott Wave view in Exxon Mobil (ticker: NYSE:XOM ) suggests that the decline from 4.28.2023 high took the form of a 5 waves impulse. Down from 4.28.2023 high, wave (1) ended at 115.64 and rally in wave (2) ended at 117.30. The stock resumes lower again afterwards. Down from wave (2), wave 1 ended at 114.45 and rally in wave 2 ended at 115.22. Stock resumes lower again in wave 3 towards 109.29 and wave 4 rally ended at 111.39. Final leg wave 5 ended at 108.15 which ended wave (3). Stock then rallies higher in wave (4) towards 109.81 and then extends lower in wave (5) towards 105.5. This completed wave ((A)) in higher degree. Wave ((B)) is currently in progress to correct cycle from 4.28.2023 high. Internal subdivision of wave ((B)) is unfolding as a double three Elliott Wave structure. Up from wave ((A)), wave A ended at 109 and dips in wave B ended at 105.80. Wave C higher ended at 110.97 which completed wave (W). Pullback in wave (X) ended at 108.1 and the stock has resumed higher again. Potential target higher for wave (Y) is 100% – 161.8% Fibonacci extension of wave (W) which comes at 113.5 – 116.8. Near term, as far as pivot at 119.9 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
NYSE:XOM
by Elliottwave-Forecast
Bitcoin broad perspectiveMost would agree that cryptocurrency is experiencing a significant correction, if not in the middle of a bear market. Zooming out, and taking the long view, what appreciation can we reasonably expect bitcoin to have? The blue trend line is the most important part of this chart. It assumes an annual return of 250% based on the trend set from August 2015 to April 2017. After that, bitcoin began a new trend resulting in gains at a pace of 1000% annually until the end of 2017. In order to get back on track to the 250% return line, BTC prices will need to reach some painfully low levels. The most optimistic curve appears to me to be the least likely.
BITFINEX:BTCUSDShort
by rgerhards
BTC - Correction Started ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we know that the correction already started as BTC broke below the last H1 low. Now what? 🏹 BTC is still overall bearish, and we are expecting a movement till the lower bound of the orange channel which is also lining up with the previous daily low in green. 📈 As per my trading style: As BTC approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) UNLESS the green daily low is broken downward. In this case a deeper correction movement till the 25,000 support would be expected. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
28
Russell 2000 (RTY) Looking to Break LowerRussell 2000 (RTY) Cycle from 4.3.2023 high is in progress as a 5 waves diagonal. Down from 4.3.2023 high, wave (i) ended at 1752.7 and rally in wave (ii) ended at 1825.43. The 1 hour chart below shows the chart starting from wave (ii) peak. The Index then resumes lower in wave (iii) towards 1731.7. Internal subdivision of wave (iii) unfolded as a 5 waves impulse. Down from wave (ii), wave i ended at 1794.8 and rally in wave ii ended at 1814. Index resumes lower again in wave iii towards 1733, wave iv rally ended at 1748.80. Final leg wave v ended at 1731.7 which completed wave (iii). Index then corrected in wave (iv) with internal subdivision as a zigzag Elliott Wave structure. Up from wave (iii), wave a ended at 1762 and wave b pullback ended at 1742.20. Final leg wave c higher ended at 1796.50 which completed wave (iv). Index resumes lower again in wave (v). Down from wave (iv), wave i ended at 1720.4 and wave ii ended at 1778.9. Wave iii ended at 1716.70. Expect wave iv to fail and Index to resume another leg lower to end wave v of (v) of ((i)). Afterwards, Index should rally in wave ((ii)) before it resumes lower again. Near term, as far as pivot at 1825.43 high stays intact, expect rally to fail in 3 ,7, 11 swing for further downside.
CME_MINI:RTY1!
by Elliottwave-Forecast