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Elliottwavecorrection

BTC - Now entering wave 3, going to 6.3k USD.Giving you an update to our previous bitcoin price prediction, in which we discussed how bitcoin might be entering its fifth ((5) time scale) and final momentum wave down. Looking at the bitcoin price right now, it seems to be that the correction wave 2 has ended, showing us a beautiful zigzag pattern ((a)(b)(c)). Even though timing might be off, the prediction of 9800 USD was absolutely spot on! It seems that we are now entering momentum wave 3, which ends near a price of approximately 6300 dollar. This is also a support area and our previous low from February the 6th. MACD and RSI both have room to go into lower regions. One note, the green trend line in the MACD oscillator has yet to broken downwards. Prices could bounce and a close eye on the price is required. Original post:
BITSTAMP:BTCUSDShort
by DeWit
4
Bitcoin #BTCUSD - correction about to complete?Let's take a look at the Bitcoin technical picture at the H4 time frame. The market is about hit the projected target zone for the wave (c) of the wave (2) and now it should bounce form it in order to test the local technical resistance at the level of $9,434. The market conditions are now oversold, so it should help to bounce in the short-term. Nevertheless, if the zone between the levels of $8,184- $7,703 is broken, then the next technical support is seen at the level of $7,464. Green scenario - wave 3 to the upside progression. Red scenario - decline to the swing low development.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
10
Litecoin Tumbling, calling a Three Wave Correction!Called a Failed 5th Wave on $LTCUSD about six hours ago via twitter, just trying to plot out where it might tumble down to for some buying opportunities. My guess is the C correction wave will end around $187 range. Green box shows where I'd plan to ladder in a long for a wave up. Should be fun! Note: I am very new and learning. Do not take this as advice or anything other than practice. Please feel free to let me know what you think. Any constructive criticism is welcome! - Foul Mouth Muggle
COINBASE:LTCUSD
by foulmouthmuggle
7
LISK #LSKUSD - possible rally ahead?The price of LSKUSD is about to complete the three waves corrective cycle around the level of $18 and then an impulsive rebound is expected. The impulsive scenario is valid as long as the supply zone between the levels of $12-$16 is not clearly violated. The projected level for up waves are: - wave 3 - the level of $34 - wave 5 - the level of $40. Please notice, that the market is trying hard to break out below the projected Fibo cluster at the level of $18.31, but so far no avail. This is very important clue regarding the further wave progression. On the higher time frames, the uptrend prevails, but it is not developing in an impulsive fashion.
LLong
by sebastian.seliga.7
1
Bitcoin #BTCUSD - about to explode higher?The price of BTCUSD has just made five impulsive waves up to the level of $10,900 and now is developing an internal, short-term correction. This corrective cycle should not move below $10,000 zone and after the correction is completed, the market might easily explode upwards towards the level of $12,030, and then towards the level of $13,400. Please notice, the correction might not be as simple as ABC in the mentioned wave 2, but might evolve into more complex and time-consuming correction. Nevertheless, the overall structure should not go below the support at the level of $9,875.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
8
Bitcoin #BTCUSD - two possible scenariosDue to the fact that the current downward correction on BTCUSD is quite extensive in time and in the price, I decided to present two potential wave scenarios: Scenario 1 (main): The growth impulse from the level of $ 5,930 ended with three waves and the current correction is a wave 4 of the entire growth impulse. The maximum range of this adjustment is 50% Fibo at $ 8,850, below this level the adjustment will be invalidated as too deep. Wave B (pink) correction may have already ended or it will end around $ 10,953 and only then there will be a drop in the C wave (pink). Wave 5 (pink) is still expected. Scenario 2 (alternative): The growth impulse from the level of $ 5,930 ended completely and wave 1 of this impulse was the Leading Diagonal. The current correction is wave 2, which can reach even $ 8,158 with its range. After the completion of the wave 2 correction, a dynamic increase in the price in wave 3 is expected, which will easily break the level of $ 12,030.
BITSTAMP:BTCUSDLong
by sebastian.seliga.7
6
LISK #LSKUSD after rebranding, now what?The highly anticipated LISK rebranding event has passed away and the question remains: to hodl, to sell, or do nothing? According to the Elliott Wave Principle, the current situation is still in favor of another wave higher, but first, the correction must complete. The first level for the corrective leg dow might have been reached at the level of $23,55 which is a 1:1 correction of waves (a) and (c). Nevertheless, the drop might extend towards the level of $23.03 and then $21.07. In the extreme situation, the last target projection is a zone between the levels of $18.31 - $17.08. This is where the first upwards wave might start to unfold. Please notice the corrective cycle might get more complex and time-consuming than a simple (a)(b)(c) correction.
L
by sebastian.seliga.7
1
Bitcoin #BTCUSD - impulsive gains towards $12k ahead?The attempt to insert an impulsive scenario ended with a hyper bullish growth count. Sequence of 1-2, (1) - (2), (i) - (ii) is a typical, impulsive, strongly upward wave progression, which assumes very rapid increases in wave 3. If this count is correct, then the price should grow very fast in the direction of $ 12,000, and even higher, without making deep corrections. On the other hand, the alternative count assumes a complex wave correction labeled as wave (B) in the form of the Triple Three WXYXXZ, the top of which should fall in the area of just $ 10,800 - $ 11,200. From there, the price should start to fall sharply, breaking levels of $ 10.297, $ 10,000 and $ 9.707, respectively.
BITSTAMP:BTCUSD
by sebastian.seliga.7
11
ETH Current Wave 4 Correction and Possible ScenariosETH is currently undergoing wave 4 (correction) that was expected in my previous post. Following this correction, there is a possibility for a 3rd actionary wave (impulse sub-wave 5), which might encounter heavy resistance from the long-term downtrend. The correction is likely complete above the 910 support level (marked by the olive line, 0.5 fib), which is also the beginning of wave 1 territory. There is also a hard resistance line in yellow (0.786 fib), in which going below might yield greater odds of beginning a combo correction (WXY) or maybe cause a continuation of the larger degree downtrend. For now, it is unclear when this correction will be completed and whether or not it will be able to remain above these crucial levels. Possibilities for the types of corrections include but not limited to the following: Truncated ABC correction Double bottom ABC correction Zigzag ABC correction Any horizontal correction pattern or combo corrections
KRAKEN:ETHUSD
by madwarrior
1
CND continues to correct In Elliot wave, corrections are often in a channel with multiple overlapping waves. The rule states that these waves will eventually be completely retraced and that price will eventually go above the previous impulse wave. Assuming this is a second wave correction, second waves often retrace atleast 61.8% of the previous impulse wave( wave 1). This is the case with CND right now. Price is in a channel correction. How do we trade these corrections? It has pierced the 50% retracement level so we are looking at price to at least go to the 61.8% retracement. Aggressive entry would be to ladder (buy) into a position at the 50% 61.8 and 78.6% levels. A conservative approach would be to wait for confirmation of a reversal. The first sign is a small impulse wave in the opposite direction of the correction. Another sign is a strong break of channel with good volume. Another possible sign is a head and shoulders formation. Each of these signs could be used as a reason to closely watch a pair, or could be used to enter into a trade.
C
by BRETTGUS1
3
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BITFINEX:NEOUSDLong
by D4rkEnergY
13
BTC loosing momentum; potential bounce off 7750 | ABC CorrectionThe b wave (apart of the ABC correction in the white lines) appears to be topping near 9000 before either breaking through resistance or moving on to the c wave of the correction. Following the c wave, we might see a bounce at around 7750, a support level formed earlier by the low from the impulse sub-wave iv. Failing to bounce before this level will expose lower levels and form a bearish trend. Piggy-backing off philakonecrypto's idea here: steemit.com
KRAKEN:BTCUSD
by madwarrior
Litecoin #LTCUSD - paradigm shift, more drops aheadThe change in the paradigm in the Litecoin cryptocurrency is dictated by the invalidation of the long-term impulsive scenario, according to which I made analysis at smaller time intervals. Due to the overlap of many fundamental factors and the breaking of rules and guidelines subject to the Elliott wave theory (only three growth waves instead of five and a long-term downward correction cycle). So what is left? Well, the best scenario currently is the ABC type meter, which indicates the end of a complex wave cycle in the wave A (from the peak at $ 421) at a level of approximately $ 34.71. The last inheritance wave-wave C was used to complete this cycle.
COINBASE:LTCUSDShort
by sebastian.seliga.7
6
BTCUSD Possible H&S or Bull's flag formationThe price moved accurately like we predicted in the previous analysis. However, there is an opportunity to form H&S pattern as there wasn't sufficient volume to overcome the resistance of $9000. BTC is at a critical moment: right now the price can move in two scenarios with equal probabilities. It is below Ichimoku cloud and the red line is above the green line which means strong resistance, moreover Stoch RSI is about to reach overbought zone. It broke down the ascending channel. However it is currently on the way back to it. If it manages to return then three rising valley of Bull's flag will indicate the possibility of breaking through the resistance which will grant an opportunity to move higher and consolidate there. Also ABC correction wave which was observed after 5 Elliott Impulse waves has finished, this increase the possibility of the further growth. In case of pessimistic scenario the price will grow to the $8500-$8600 zone and then will fall back to the $8000 which will complete H&S formation. Then the price will decrease till the next support zone around $7200. In case of optimistic scenario the price will move out of Ichi cloud making it the strong support level and will go above $9000 which will complete Bull's flag pattern and will open the way to a higher level of trades. We recommend to carefully track BTC price movements and put a stop loss in case of pessimistic scenario on all your trades. In case of optimistic scenario we will provide you with new good signals and trade opportunities. Currently all trades are very risky, the market hasn't recovered yet, be patient.
by Skyrexio
6
MONABTCOn the 1-hour chart we can see that 5 Elliott impulse waves were followed by ABC correction waves pattern. After this Cup & Handle pattern is forming. Right now the price is above Ichimoku cloud moreover the green line is above the red line right in the place of handle formation. Moving averages and Stoch RSI indicates oversold zone. Combining with a strong support we will have completion of the formation and the growth to the targets according to the Fib retracement levels. Buy only when it goes above Fib 0.382
Long
by Skyrexio
BITCOIN #BTCUSD - end of the correction? New highs ahead?The current correction is the biggest in the entire Bitcoin history (arithmetic graph) and has already reached 71%. On the other hand, the rate managed to rebound from the blue trend line just above the target level at $ 5,540. The $ 300 was missing so that the price hit the Fibo cluster. From the Elliott wave theory perspective, the price tests the bottom trend line (gold) and tries to break above it. The $ 5,962 level is now the most important technical support, with the support of $ 7,213 remaining. The next resistance tested is $ 8,160. Beating over this resistance can cause a gunfire towards very important levels at $ 9,222 - $ 9,515. Only breaking above these levels opens the way for further growth.
COINBASE:BTCUSD
by sebastian.seliga.7
15
VIBE #VIBEBTC - wedge breakout might give 150% gain!ELLIOTT WAVE ANALYSIS: The bounce from 0.00007490 has the characteristics of an impulsive wave with a high 0.00012865. After this rally, the price falls in the ABC three-phase straight correction to the level of 61% Fibo at the level of 0.00008180. In addition, the price at the end of the downward wave draws a clear wedge, which is expected give an impulsive breakout. Target levels for the impulsive breakout are 0.00012237 and in the case of extension level 0.00020225. Assuming such a scenario, with SL under 0.00000749, the risk-to-risk ratio is 5: 1, which is why it is a pretty decent trading setup. Breaking the 0.000007490 level invalidates the impulsive upward scenario. TREND and IMPORTANT LEVELS: Main trend: DOWN Intermediate trend: DOWN Daily trend: DOWN (possibility of a breakout from the wedge after correction and reversing the trend) KEY LEVELS: - for further increases - level 0.00012865 - for continuing correction - level 0.00009098 - for continuation of decreases - 0.00008180 PS: Make sure you follow me! PPS: The next analysis of the next cryptocurrency will be published, if this post receives a min. 100 likes. :)
VLong
by sebastian.seliga.7
17