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Waves

🔥 A Bullish Case For Bitcoin: Elliot Waves UpdateRecently I've gotten a more bearish outlook on the markets. BTC keeps selling off due to bad macro news, which makes it less likely that we see another pump in the near future. On the other hand, BTC has seemingly bounced from the exact area that I expected a bounce from in my Elliot Waves analyses before. Not sure how likely it is at this point in time that BTC will follow my Elliot Waves pattern, especially with the stock markets being as overbought as they are, but it's good to look at both sides of the market. My bullish target for this year still remains between 36,000 - 40,000. Share your thoughts🙏
INDEX:BTCUSDLong
by FieryTrading
12
Multiple uptrend confirmation (VTL, phasing, FLD) Bitcoin price have just brought us a massive confirmation about concluding the first nominal 40W cycle after a major nest of lows that we had in the fall 2022. Phasing analysis suggested us to wait for this cycle conclusion, that is bringing us now to the deciding phase of the first half of the major 36 month wave. You can see on the picture that the Valid Trend Line Has been broken too, giving the second confirmation. The last to check regarding Hurst theoy is the Future Line of Demarcation (moving average moved forward in time for the half length of the anylised wave). As we clearly see - FLD was broken the same day. Here comes the last part of Hurst's approach which says, that once the FLD is broken, it will get higher to the point same distance from the line of breaking as the last low. You can see the prediction on the following picture:
BITSTAMP:BTCUSDLong
by bartekhl
2
Hellena | GBP/USD (4H): Short after wave 5!Last week, there was a strong channel breakout that changed our plans! Interestingly, I still expect the price to reach the option contract level of 1.23973 in the future, but for now let's focus on closer targets. I anticipate that Wave 3 is not yet complete, so I expect Waves 3, 4, and 5 to follow. Then, I anticipate a correction to the level of 1.27422. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Short
by Hellena_Trade
2
🔥 Bitcoin Elliot Waves Pattern: Right On Track!A couple of weeks ago I made an analysis on BTC and the presumed Elliot Waves pattern it was trading in. I wrote that it was possible that ~31k was the 3rd wave top because it aligned well with an overbought RSI. Looking back, the previous analysis caught the top quite well. Like mentioned it all my previous Elliot Waves analyses, I see it likely that we're going to move towards the 25k - 25.5k support area. This area is very important because it pinpointed both the Summer-2022 top and the first wave's top. In my view, it's still possible that we will go up and make new 2023 highs. Assuming we're following an Elliot Waves pattern, we can top between roughly 36k - 40k. A move below 22k will invalidate this pattern.
INDEX:BTCUSDLong
by FieryTrading
14
When do we sell a symbol? Expiry went fine the 2nd June, it has various bullish remarks at the end, the volume spikes spoke for themselves. Now there is new danger ahead, economy is hanging onto verges of a single man, and typically now the popular opinion is that he shall be left with no other option than greening the signal light and another rally is expected. Many weeks have gone by when Hawkish behaviour hysterically chose the opposite stand than what was popularly spread or wrongly articulated by the media houses. Fund managers are having a gala time because on one switch the retailer accumulate huge lots and their low cost investment earns a fortune and at another switch they sell what is a cheap calculated risk investment for future. TSLA is going to sink yet again and AAPL shall make history.
SP:SPX
by INDEXKING0