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Bitcoin: Elliot Wave Supercycle Wave III Incoming?Hi folks, i have been around here for around 3 years now (yeah, started early 2017 :) ) and i have decided that the time has come to publish my first analysis. Before i start i want to share some thoughts and fundamentals, how i got to this analysis: As the title tells, i am using a different foundation for my elliot wave count than most of the others i have read from: I think we are in a supercycle wave II, while most are counting it as supercycle wave I, with wave 4 as a possible triangle. This was how i was counting not so long ago. My main problem with this count is, that every source i found to this, starts counting in early 2012. But Bitcoin has been traded before (Mt Gox). This means a lot of data on charts provided by TV is missing. Starting the count in early 2012 gets to a currently building wave 4 in a supercycle wave I. But if you take charts from Mt Gox into account, starting in 2010, you will see that there is one more wave, which i think is the real wave 1. It started august 2010 from nearly 0$ to 20$ in mid 2011. Then it corrected into late 2011 / early 2012. AND this is where the bitstamp chart starts! Another reason why i think we are in wave II? The timeframe: Bitcoin went up to 20000$ in roughly 8 years. Since december 2017 it is in a correction, for around 2 years. This relation would fit into the bigger picture. Now for those not familiar with elliot waves, i will try to explain in short how it works. If you know enough about it, just scroll through this paragraph. An elliot wave cycle consists of an impulsive movement (1,2,3,4,5), followed by a corrective movement (A,B,C). Each wave consists of impulsive and corrective subwaves and so on. The whole idea of the supercycle wave II started from the following analysis: I think the movement of Bitcoin since december 2017 until now is a so called flat. A flat is a corrective movement showing a 3-3-5 structure. Wave A : corrective (A,B,C) Wave B : corrective (A,B,C) / triangle (A,B,C,D,E) Wave C: impulsive (1,2,3,4,5) / Ending Diagonal Triangle For an easier understanding i have split the chart above in 3 parts, each for one wave of the flat: Wave A: This picture shows wave A of the overall flat. It is divided into 3 waves (A,B,C), which go together as a zigzag . Zigzags are corrective movements showing a 5-3-5 structure: Wave A : impulsive (1,2,3,4,5) / Leading Diagonal Triangle Wave B : corrective (A,B,C) / exception : triangle (A,B,C,D,E) Wave C : impulsive (1,2,3,4,5) / Ending Diagonal Triangle Wave A is a leading diagonal triangle (waves 1 and 4 are crossing, which is only allowed in LDTs). Wave B shows a triangle (A,B,C,D,E). In this case wave E is building a triangle ((A),(B),(C),(D),(E)) in the triangle. This is kind of a textbook pattern. Wave C shows an impulsive movement (1,2,3,4,5) and hereby completes the zigzag . Wave B: This part is the main difference to any other analysis i have seen: Most of them count it as an impulsive movement, which i have done, too. When i was counting in 2019, there was this huge formation, which i couldnt really integrate into my count. But back then, everybody (including me) was so damn bullish , that it simply HAD to be impulsive. Moon incoming! Discussion over! As i went through it again, i recognized that this formation could be a running flat, which would mean the following possibility: It is not impulsive, it is corrective. Lets look at the chart: a 3-wave structure fits much better with this one big formation in the middle. The wavecount underlines it: its another zigzag . Wave C: As explained earlier, a flat alway ends with an impulsive movement (1,2,3,4,5). Alternatively it could end with an Ending Diagonal Triangle. In this case i think it could be an expanding one (mostly the occur as contracting EDT ). These consist of 5 waves (i,ii, iii ,iv,v,) but with a 3-3-3-3-3 structure, which means all waves are corrective ones. As you can see, the 5th wave of this expanding EDT is in the making. We are about to see one more leg down as Bitcoin is currently building a "bearflag" which is a triple-three in elliot waves: 3 corrective patterns in a row, as i am showing in this analysis: In comparison the above means, that Bitcoin should soon enter the next Bullcycle (wave III). The following picture should just give an impression of how this should look. Wether the arrow is showing an exact movement im expecting, nor is III showing the target i estimate, which is much higher! Thats it so far. Hope you guys like it.
COINBASE:BTCUSDLong
by freeman2587
Bitcoin: Triple-Three nearly finished!Hi guys, i am preparing for the last short ill take in the next months. The current „bearflag“ is a triple-three with only one more leg up (wave C completing wave Z). Entry point around 8000$. This is a nice setup for a shorter term trade. BUT be careful as this should end the bearmarket!!! Check out my related idea, showing the bigger picture since the the all time high in 2017. This is no financial advise. Always do your own research! Stay healthy and good succeed!
BITMEX:BTCUSD.PShort
by freeman2587
4
Comex Gold - Selling The Tops at 1705 $-Case of Ending DiagonalDisclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Happy to get the clue straight from the yellow metal & to see it unfolding as expected on 7th March 2020 video idea which was published on Indian Version - Nifty / Gold / USDINR - The important Juncture. Video Idea (Click the Idea Below) ------------------------------ Long Term Outlook ------------------------------- A possible case of Ending Diagonal which suggest that the rally which started from 1045$ to 1705$ has completed & we look for downside Targets - 1045$ / 900$ / 750$ Short Term Outlook Wait for some bounce above 1500$ in the zone 1590 - 1625$ zone - If you see the commodity getting rejected in the suggested zone then putting stops above 1635$ could be an opportunity for selling the commodity for Targets - 1500$ / 1445$ Thanks for watching the video & stay classy till next idea.
COMEX:GC1!Short
by WaveTalks
12
Potential Long 5th Wave, ElliottWave Move for STTUsing our Elliott Wave Indicator Suite for the TradingView Platform we have identified a potential Long 5th Wave Swing Trading Opportunity for STT on the Daily time frame . The 5th wave move in an elliottwave sequence is the highest probability move. The catalyst for the current wave 4, profit taking, pullback was Earnings and it does seem to have found support. The wave 4 pull back has found support in the Green zone of our probability pullback zones, which represents an 85% probability that our automated 5th wave target zone, in blue on the chart, will be hit. Further more the profit taking pull back is at major support and resistance zone from previous earnings reactions. We see yellow dots formed in the overbought zone on our special False Breakout Stochastic indicator, which signals strong Bullish momentum. When, during a wave 4 pullback, the stochastic pulls back against these false break out dots and crosses in the oversold zone, there is a high probability the stocks price action will resume the overall bullish trend . We also measure the wave 4 behaviour with our Elliottwave oscillator, which has pulled back within our pre-determined zone. So overall we have identified, using our Elliott Wave Indicator suite for TradingView, a high probability long swing trading opportunity for STT , with the following entry strategy: We use our 6/4 MA High for initial starting point for long entries and take into consideration and recent pivots during the 4th wave pullback. Long entry through $80.09 Stop Loss $74.96 Target $90 Giving a Risk to Reward of 1:2
NYSE:STTLong
by xBratSoftwareSolutions
Elliott Wave - BUY AUDUSD - Get ready for wave 5Good morning traders, Today we are looking at the AUDUSD There appears to be a clear 1-4 wave structure. Waves 1 and 3 are made up of a 5 wave structure, wave 2 and 4 are made up of a 3 wave corrective structure. Bullish divergence on the 4 hour RSI, The AUDUSD is re-testing a key trend line, The RBA has previously signalled the economy could be facing a gentle turning point, the housing market and employment data has been positive recently. Another positive result today, followed by an increase in CPI next week could reduce the chances of a FEB rate cut. Check the DXY index, the index is also re-testing a key trend line, suggesting we could also see a weaker USD over the next couple of weeks. Any thoughts or comments are welcome!
Long
by ForexStoreau
2