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Elliottwavecorrection

Bitcoin #BTCUSD - correction finally done?FUNDAMENTAL BRIEF: The Government of India, although often not very positive about Bitcoin and other cryptocurrencies, such activities have not helped to curb their popularity. In his annual speech, Finance Minister Arun Jaitley again explained that the government intends to stop the use of digital currencies in India, claiming that the South Asian country does not recognize Bitcoin and other coins as legal tender: "The government does not recognize Bitcoin or other cryptocurrencies as a legal tender and will take all measures to limit their use in financing illegal activities or any part of payment systems." However, Jaitley did not say anything about the ban on trade. In fact, he claims that the government will instead encourage the use of Blockchain technology in traditional payment systems, showing that the Indian government does indeed see the value of cryptocurrencies, but only as legal tender. Most likely, Indian exchanges will be legal and citizens will have no problem buying and selling cryptocurrencies, nevertheless, their decision might be behind the reason of the recent drop in BTCUSD ELLIOTT WAVE ANALYSIS: The market violated the 161% Fibo extension of the wave A at the level of $8,600 and currently is testing the lower trendline dynamic support around the level of $8,000. If this level will not make Bitcoin to bounce towards the level of $9,100 then the next projected target is seen at the level of $6,742. The overall complex corrective cycle looks completed anyway or is very close to termination.
BITSTAMP:BTCUSD
by sebastian.seliga.7
10
Charts Never Lie.I have been following BTC for roughly a year and have witnessed and personally held multiple positions during it's boom and even briefly held around the ATH at 18.3k before selling. When it comes to Tech Analysis I'm new and not seasoned like many of the other pros you will find around here, but despite this, I want to share my idea, hear out any criticism and learn from it. I believe what we are seeing is a possible elliot wave formation / correction to 7k, after which BTC will stabilize and stop falling. As you can see from chart, my trends are taken from previous trends that could have happened during the BTC breakout over the last 6 months. I also take into account the H&S pattern and along with the EMA overhead resistance to account for the likely down trend. 1) The other bounces back up are based on a straight projection line from the beginning of the H&S formation and move through the beginning of all the recent trends upwards before failing to pass the heavy resistance overhead. 2) The 7K range because all trend lines line up nicely pointing to this area as the likely scenario if BTC had continued along any of the other growth trends. 3) According to the FIB Levels, Support zone at around 5.8K, and if the true BTC trend is any of the other trends within the last 6 months, then 7k should be it. I just want to condone that this is not financial advise in anyway and purely for my entertainment. I also invite everyone to please comment and discuss any flaws you may have found or anything that reinforces what I had posted. Thank you everyone, I apologize in advance if I had made an mistakes in presenting or drawing my analysis.
BITFINEX:BTCUSD
by gendark2
1
PDCBTC Elliott WaveThe triangle was broken down with the last Elliott Correction wave and now it is below Ichi cloud. We expect a significant rebound from the 1.618 Fib support level which will start a new growth wave. In case of further BTC dump the price of PDC will continue to decrease along with total market capitalization. The stop loss is presented on the chart. If it triggers then reentry point is above 1.618 Fib when volume sufficiently consolidates. Although fundamentals for this coin are great and it is still has potential to recover and growth more.
P
by Skyrexio
SiaCoin Has Clear Bullish StructureWe are looking at really nice and clear structure on SiaCoin against BTC. We are tracking wave 4 correction, because of perfect 261,8% Fibo. extension of wave 1, which is ideal for impulsive wave 3. From January 06, we can see slow sideways move within three waves w-x-y down, back to ideal 38,2% Fibo. retracement and also test of channel resistance line. BITTREX:SCBTC actually found perfect support at psychological level 0.000004 for wave 4, so we expect more upside in coming days into wave 5 towards 0.000008-0.000009 levels. If from any reason drops below 0.00000278 invalidation level, then we may adjust the view.
Long
by ew-forecast
4
ADABTC May Require More CorrectionCorrections are healthy, as they create base for further price rise. Hence, if you know the trend, then you must HODL during correction no matter how steep it may be. It seems that Cardano undergoing a 5-3-5 ABC correction. While Wave A and B seem to have been in place, Subwave v of Correction Wave C is still under play. What does that mean? The price might retrace further down in the next 1-2 days before putting in another impulse for higher highs! It may be a good time to place your buy ladders, as shown by the possible path of Subwave 5 in the chart. Follow me on - Twitter: girish2148 Steem: cryptoGG
Long
by Crypto_RK
Lisk #LSKUSD - bad news, paradigm change!TECHNICAL ANALYSIS: The impulsive wave scenario has been invalidated! Currently, the best scenario available is not the impulsive formation, but the double zigzag (W) (X) (Y), which ended at $ 40.48. The reason for changing Elliott waveforms from impulsive to corrective is too many canceled levels and too many overlapping levels. It is not the traditional behavior of the pulse wave, but more suits the formation of the Double ZygZak just. Not only that, this formation can still evolve into the Triple ZygZak, but for the time being there is no reason to do so. The current inheritance formation WXY is the largest downward correction since the cryptocurrency has been recorded, which proves that the trend and form of the further wave scheme has probably changed. Without going into details, in the short-term perspective the situation is as follows: there is still a chance for further increases (option of the Triple ZygZak), even with the option of new peaks, but they will not be long-lasting. The most similar to this model are currently the so-called: Pumps and Drops (PUMP and DUMP), which means that the market is no longer in an upward trend (and this option was assumed from the beginning of the impulsive scenario). In the short-term, the most important levels are currently: - support at 15.70 - internal trend line at 15.00 - Fibonacci cluster at 11.50. - external extension of the Fibo level at 8.00. The current WXY correction is close to the end of the decline at one of these levels. PS: Please FOLLOW ME if you want to know about all new updates!
L
by sebastian.seliga.7
17
Litecoin #LTCUSD - +130% possible after the breakoutThe price of LTCUSD is still trading inside of the corrective zone, between the levels of $230 - $304. In order to move higher in price, the market must break out above the level of $304 first, then test the level of $380 and attack the swing high at $420. The next nice take profit level for the up wave if at $600, which would gibe a +130% for someone who bought the LTCUSD in the correction zone. Otherwise, the market will continue to move sideways. Any violation of the level of $144.00 invalidates the bullish impulsive scenario.
COINBASE:LTCUSDLong
by sebastian.seliga.7
6
BREAK OUT IS NEAR (EW : ABCDE correction end).Hello everyone, good job for your patience holders. Important prerequisites : BTC don't fall like a rock in the comings hours. LTC is almost ready to break the triangle and reach a new high. LTC will finish the wave E of EW ABCDE in comings hours, i expect a strong bounce from here (between 240-230). There is some resistances (red lines) but the breakout should easily go over their in the comings days/weeks. USA wake up could give us the volume we need for the break out. MACD is ready to bounce. RSI is more or less neutral. Feel free to write your minds, constructive arguments of agreements or disagreements are always welcome.
COINBASE:LTCUSDLong
by KassandrA_dotcom
Dash #DSHUSD - no so fast, Dashboy!The Dash cryptocurrency price is still in wave 4, which may turn out to be an irregular ABC correction. In this correction, wave B has already been made (with a high at $ 1.253) and now the price would be in the last phase of the downward cycle, the C wave. Confirmation of this scenario will come with the breaking of the trend line (golden bottom line) and a testing the levels $ 936 and later $ 856 and finally $ 775. This is why red arrows is the preffered scenario. The lack of the above wave development will be synonymous with the further development of another wave of correction, i.e. the wave triangle 4. Main trend: UP Intermediate trend: UP Daily trend: UP / NEUTRAL (continuation of the correction) Key levels: - for further increases - the level of $ 1.253 and later $ 1.338 - for continuation of the correction - level of $ 1,253 (resistance) and $ 936 (support) - for the continuation of declines - the level of $ 936 and later $ 856 and $ 775 PS: Be sure to add me to the watchers! PPS: The next analysis of the next cryptocurrency will be published, if this post receives a min. 100 likes. :)
BITTREX:DASHUSD
by sebastian.seliga.7
6
IOTA - A promising Rebound!The IOTA cryptocurrency price managed to recover over half of the pre-holiday decline and is now just below the supply zone and below the local resistance at the level of $ 4.49. The golden trend line has just been tested and you can see small, but always, demand engagement at the levels of $ 3.20 - $ 3.30. For increases to be continued, the local support level of $ 2.72 should remain intact. From the point of view of the Elliott wave theory, there are two wave scenarios available, both of which are pro-growth in the long term. Moreover, if the alternative scenario turns out to be a correct wave scenario, the potential for growth is much higher than in the case of the main scenario. The invalidation of the growth scenario will occur with the violation of the level of $ 1.10. Main trend: UP Intermediate trend: UP Daily trend: UP / NEUTRALNY (continuation of the correction) Key levels: - for further increases - the level is $ 4.49 and later $ 5.80. - for the continuation of the correction - the level of $ 2.72 and later $ 2.14 - for the continuation of decreases - the level of $ 1.10. The next analysis of IOTA cryptocurrencies will be published if this post receives a min. 50 likes. Good luck! :)
BITFINEX:IOTUSD
by sebastian.seliga.7
12
Bitcoin #BTCUSD - two possible scenarios for a correctionAt the moment, the fourth wave correction (4) can develop in two ways. The first one, marked in green, is a correction scheme in the form of the fourth wave triangle, in which C, D and E are still to be found. All these subwaves should end within the area of $ 16,500 - $ 12,750. Breaking any of these levels will invalidate this scenario for a correction. The second scenario, marked in red, is an irregular correction ABC, in which waves A and B seem to be finished, so only the C wave remains to be realized. In this scenario, I assume the level of $ 12,750 is broken, then breaking the level of subwave B to $ 12,000 and level test of $ 11.159 (wave A bottom). This level should not stop bears in this scenario and this level should also be impulsively broken through. In this case, the first target level for the C wave will be the level of $ 9,021. Main trend: UP Intermediate trend: UP Daily trend: UP/ NEUTRAL (continuation of the correction) Key levels: - for further increases - the level of $ 16,500 and later $ 17,500 - for continuing correction - the level of $ 12,750 and later $ 14,400 - for the continuation of declines - the level of $ 12,500 and later $ 12,000 and $ 11,159 PS: Please follow me on TradingView! PPS: The next Bitcoin analysis will be released if this post will make 100 likes. Thank You and Good Luck! :)
BITSTAMP:BTCUSD
by sebastian.seliga.7
17
Siacoin #SCUSD - one more wave to the upside? +315% possible!The Siacoin SCUSD cryptocurrency price has four growth sub-waves. In the current situation, there is one more wave missing to complete the overall wave progression of the higher degree - wave 5. If the 0.0504 level is the end of wave 4 correction, the target range for wave 5 is between 0.1538 - 0.2167. The necessary condition for further increases is the break out of the technical resistance level at 0.1132. On the other hand, any violation of the level of the 0.0410 level invalidates the upward scenario. TREND AND IMPORTANT LEVELS: Main trend: UP Intermediate trend: UP Daily trend: DROP / NEUTRAL (continuation of the correction and the option of breaking) KEY LEVELS: - for further increases - level 0.0838 and later 0.1132 - for continuation of correction - level 0.0838 and 0.05040 - for continuation of decreases - 0.0410 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. :)
BITTREX:SCUSDLong
by sebastian.seliga.7
12
4 of wave C ? (ABC EW correction).I continue to think that the correction is not over yet. We could be at the wave 4 of the EW "C" ABC correction. Correction are always healthy. Daily RSI and MACD are still overbought. Bollingers bands show high volatility. ETH/BTC looks for a correction too. First target would be 1030$ area. We could see 830$ if the wave 5 is extended. Feel free to post your minds, i can be wrong : agreements and disagreements are both welcome.
BITFINEX:ETHUSDShort
by KassandrA_dotcom
2
Cardano the bright, start of something nice.Fundamentally: This coin is experimentally you could say but potentially huge if succesfull, it has a solid team behind it, in fact, bright minds of University of Edinburgh, the University of Athens and the University of Connecticut all putting their heads toghetter to find the solution to the problems bitcoin and cryptocurrencies been having to date. Technical: The pattern fits like a charm when that bounce on the right shoulder hits. We could consolidate a bit around these levels and eventually start the first move of the next set . Excellent long term hold!
Long
by PollysCracker
3
Ripple Found Support After A Three-Wave SetbackBITSTAMP:XRPUSD made nice three-wave correction back to previous wave IV with (a) = (c) equal legs and hit exactly 1.60 level as we expected. This is actually perfect setup in Elliott Wave theory and exactly, what we are looking for trading opportunities. But we have to wait for confirmation, which is a break above channel resistance line and to be sure we need a break above 2.80 level, which would confirm that Ripple is back in bullish trend. If Ripple from any reason breaks lower beneath 1.60 level, then we may adjust the view.
BITSTAMP:XRPUSDLong
by ew-forecast
26