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BTC to 41K Before Cool OffBTC On the Weekly time Frame. BTC has been in a strong Elliot 5 Wave Impulse Move since the start of 2023. Analyzing the Fibonacci Retracement of the first pull back (wave 2) which occurred in March of this year, we can see an almost perfect touch at the .618 level before wave 3 ensued. In Keeping with the laws of Fibonacci, Wave 3 was the most violent (so far) and ended at the 1.618 Fibonacci Extension - roughly 31KUSD per Bitcoin. Again further validating that this is a text book Elliot 5 Wave Impulse move, wave 3 was followed by a slow, drawn out Wave 4 which consolidated in a falling wedge formation and respected the top of Wave 1 before making a less violent but still respectable move back to 31K (our most recent push up). Now standing in the face of Cryptos greatest resistance level to ever exist, I am expecting further consolidation before eventually breaking 31K and stopping at our next and final Fibonacci Extension, the 2.618; Completing the 5th wave of this Macro Move. Once the target is achieved I anticipate that we will move into an ABC correction and Retrace back to Roughly 25K. Why 25K? When analyzing the structure as one move, a Fibonacci Retracement Tool can be pulled from the Bear Market Bottom, to the 2.618 Level. The .618 Retracement for this entire move lands Bitcoin roughly at 25KUSD per Bitcoin. This technical analysis is to price scale but not time scale. I cannot predict when 41K will be achieved and when 25K will be achieved. If this move plays out this will be the perfect set up as the first leg up into the new Bull Market. the pull back to 25K will be the last time to buy before new ATHs (with the exception of a black swan event of course). I have been tracking this move since March, since my related Ideas.
COINBASE:BTCUSDLong
by AlexSpicer94
2
#Bitcoin - thoughts out loud #08Good evening, we are from Ukraine! I expect further depreciation of the cryptocurrency market. In this phase of the market, we are interested in a supply test in the range of 30,000-31,000, after which the further development of the situation will be clear. There is weakness on the older time frames, but there are variable factors in the market and it is too early to give an accurate assessment. The end of the trading situation opens up 2 scenarios: 1) Asset depreciation to 17500. 2) The asset's price increase to 3500. Thank you all for your attention, I wish you success. Sometimes you win/sometimes you learn. #Bitcoin BINANCE:BTCUSDT
by WVitalievich
#Ethereum - thoughts out loud #11Good evening, we are from Ukraine! Why was it necessary to place a limit buy order at this particular moment and what were the goals for profit-taking? I'll start with the first one, because we are at the bottom of the trading range after manipulating (on volumes) with a false breakout of the lows and a quick resumption of purchases on the buy bars with an extended spread. That is, the technical reason is more in favor of the longs. The second part of the question. The first target is the local high of 2160. Moreover, if the situation develops positively, the position can be held up to 2200, accompanying the instrument. Thank you all for your attention, I wish you success. Sometimes you win /sometimes you learn .
E
by WVitalievich
#Ethereum - thoughts out loud #10Good evening , we are from Ukraine! For this period of time, the chart has a trading margin, the exit from which opens the door to 2 key levels: 1) A long scenario of breaking through the resistance level and going to 2300 and above. 2) Short, market weakness after a false breakout of 2200 and the price returning to the middle of the range with a further buyer's test at 1900 - 1850. Thank you all for your attention, I wish you success. Sometimes you win /sometimes you learn.
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by WVitalievich
SP500 - ABCD Target hit!!S&P500 has just hit a critical level which will decide the further movement of the market. We have major levels coming together firstly with the ABCD down from the ATH then we have the 1.618% Extension from the OCT low to the ATH. We are also at the - 1 Standard deviation level which is where the options guys for this week buy futures to protect thier positions which can cause a rally. However if we get down below 3920 then we start looking at 3700 or lower. Short term we are at a critical retracement level. I will post this in the idea update section. Also AI has a run up for the first part of the day.. Another issue is the fact that we have completed the C-D leg quicker than the A-B leg by a week, another reason to be cautious. But we have fear in the market so is it time to be greedy?? I hope this helps. Enjoy the day. 👍👍
FOREXCOM:SPX500Long
by L_F
No more long : take a short position now ! Hello guys, yesterday the USD JPY reached the 1.618 fibo ! i was waiting for that ! now the ABCD pattern is completed ! This night the PRZ was tested and we can see a beautifull rejection on the H1 chart and H4 chart ! So the trend is actually changing and you can short it ! Maybe the price is going to retest near the PRZ ! we will see ! + Nice regular divergence between the MACD and the chart ! + Be careful the USD is a refuge value actually !
Short
by BeginnerTrader93
1
Cad/chfCadchf looks to be on wave 3. Broke the 1.618 extension. It is at a pitchfork and looks like it is in the process of making an ending diagonal. If it pulls down should be a corrective move. A wave 4 retrace should be to 23-28% fib but it certainly wouldn't move in a straight line. It can also go into an ending diagonal of a larger degree, so understand this. But price action on 1hr looking like a small sell is coming. If it breaks the high one more time, would be the place to watch..
by thillygoosth
SPXRalph Elliot speaking from beyond the grave.... Typically speaking, wave 4 retraces 23-38%. We are on an extended wave 5 of wave 3. Those 2 rectangles are measurements: 1.618 x wave 1, 2.618 x wave 1. Wave 3 typically terminates around 1.618 wave 1 (watch that 3000 area. It may not even reach it, but if it did and hit the top of the 2.618 box, that's a sell all day. I could go down to the last wave and explain it better but you guys, but you don't pay me enough... Just kidding, I'm lazy. Commodities are down. Look at Silver, Platinum, Natural Gas even. If stock market goes into wave 4 retrace, money will be moved to safer investments perhaps. In fact, I feel that I have pretty much all markets sewn up at this point.
SP:SPX
by thillygoosth
5
I can $SPOT a good R:R when I see oneSpotify... the newest streaming music service to hit the NYSE via a nontraditional IPO I have no fundamental analysis on this besides that they have a student subscription program that will 'hook' the next generation and a partnership with Hulu to incentivize membership gains. Looks like we have made a clean break of a wedge here; can we test the 1.618 extension? Limit your risk accordingly, I have this as an ~ 3:1 R:R or potential to gain 3 dollars for every 1 dollar risked. GL HF xoxo snoop
NYSE:SPOTLong
by 420snoop
6