Possible leg up in Elliott Wave count for BTCI just analyzed the run up from bitcoin in Elliott Wave theory and it was quite difficult to define the last correction, as it is somewhat vertical. But continuing the Elliott cycle, there is theoretically, also due to the subdivisions seen in lower capitals, only 2 types of correction possible: ABCDE or a complex WXYXZ. If we would stay in the 'not so nice' but validated symmetrical triangle, we would have a ABCDE with shortened D and E correctional wave. If not, we could have a longer horizontal continuation which would get out of the ascending parallel. In case we are clearly going down the large ascending parallel, my Elliott count is wrong, and the ratio in divisions and subdivisions isn't correct. Though the abc subdivisions of the last larger correctional wave is in my opinion a higher probability, they are just shortened in to time and thus hanging on a horizontal level, which indicates again the symmetrical triangle.
Also we still have the larger inverted H&S preceding, with an outplay to 68 or 70K.. In white and visible wave, the first possible uptrend in a subdivision 12345 Elliott wave impulse.
Elliottwaveanalyis
Elliott Wave Analysis by Wave FX USDCAD Target 1.2900Hi Traders, here is my analysis on GbpJpy.
My method is based purely on Elliot Wave Principles and Price Action.
I’ve added a Key to help you understand my POV on the current price action.
Confirm Buy: (Once price breaks above, I will be looking for the bulls to control the market.)
Confirm Sell: (Once price breaks below, I will be looking for the bears to control the market.)
INVALIDATION (This means my analysis is incorrect and I need to revisit the drawing board)
Setup Invalid (market still developing or correcting)
12345 ( Elliott 5 wave impulse cycle
ABC (simple market corrections)
WXY (Complex correction, 2 basic correction)
WXYXZ (Complex correction; 2 or more simple or basic correction)
Types of Correctional wave and their internal structure count:
a-b-c
Flat Correction (3-3-5)
Irregular correction (3-3-5)
ZigZag correction (5-3-5)
a-b-c-d-e
Triangles (3-3-3-3-3)
I hope you find my analysis helpful. Please make sure that you are following your own strategy when placing trades.
Your comment and feedback are appreciated.
Ending Diagonal targeting top @ ~70kThis beautiful Elliott Wave on the daily chart is indicating Bitcoin is about to find a temporary top around 70k. As the theory proposes, we should expect a more severe correction after that wave is completed. Be aware of bull traps once we hit that level.
It's interesting to point how every subwave is clearly noticed on the chart.
Loved that!
Magic TA: The future is predicted magically!Earlier was the first to published an idea about BTC is not gonna break ATH 61800 at this point of time, instead will need a price correction before 72k! According to the observation of recent days, it is confirmed to be riding on the price correction wave. It would be a huge retracement according to the principle of elliott wave. However, after a while I've seen many analyser posted the similar chart.
My philosophy is always "sell when people buy, buy when the others sell".
Thanks to those who blindly buy (long) BTC at the peak of the hill, and so I'm getting extreme high funding fee from the trading platform on every 8 hours. ;) This may be the good timing for the newbie (especially those "smart traders" trying to "educate" me in a bad way) to understand, what's the real meaning "Do not chase ups and downs. Anyway, regardless long or short, debate / discussion with open-minded is always welcomed. Sincerely hope ALL OF US could make a fortune from crypto trading!
Again, this is not a financial advises. I'm not a professional analyser, and I've started the trading for 2 months ONLY. :) It's my hobby to analyse the pattern so it would help in my development of automated pattern trading software.
BTCUSD 15 m / short term /Very hard correction.
wave abc / blue / is zig zag
wave c / blue - diagonal
wave abc blue - create wave (a) /yellow/
wave abc white is zig zag and create wave (w) white.
wave (x) is connector
wave 12345 white is expanded diagonal for create wave (1) green
wave (1) - (5) green is leading diagonal for create wave a orange
Wave b orange is zig zag
wave 2 white is zig zag
wave 4 triangle or flat ( in this time )
One more Up for finish all waves ... wave 5 white, for finish wave c orange, for finish wave (y) white and finish wave (b) yellow.
This is the full EW count
🧲 A magnet that does not attract (MGNT)🛒- EWA.«Magnit» - is the largest Russian retailer with the largest number of retail outlets and geographical coverage.
●● Mine scenario
● 2D
LSIN:MGNT
Admittedly, these red boxes with a terrible layout have always been alien to me. Having experience in retail chains, production and warehouse logistics - i can say - when you enter their buildings, you want to redo everything. It turns out that in the mood of investors in relation to this company, has the same confusion. From the top of the assumed wave ④ passed a three-wave correction in the form of a single zigzag, which, hypothetically, can be the first wave in the composition of the forming Leading Diagonal (1) . Of course, long-term purchases in this case can only be discussed if the diagonal is fully completed and the subsequent correction (2) of ⑤ has made.
● 1D
MOEX:MGNT
With a little difference, the picture is similar on the Moscow Stock Exchange .
● 4h
MOEX:MGNT
I plan to work locally in long at the end of ((b)) of 3 of (1) .
●● Alternative scenario
● 1D
MOEX:MGNT
Quite harmoniously, the descending wave from the top ③ has the form of an impulse . Which, however, can not be done with LSIN quotes, where if we consider the descending wave from 2015 as the first wave, then only as part of the Leading Diagonal.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.