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Elliottwavebelgium

SPX - DJI - NDX - Going higher after small pullback ?Interest rate decision is in less than 15min and a 25bps hike is expected. Markets have run ahead of it this week so a small pullback is likely but as long as prices stay above the dotted Invalidation levels, there's nothing to worry and we should resume higher tomorrow probably. From a risk/reward perspective, I think it's a good idea to look to go long, may it be relatively strong individual names or simply buying the indexes. It's also a good idea to go for some select names in the crypto space, like BTC, ETH or some newer ones like OP, CFX and VIB.
TVC:NDQLong
by ElliottWaveBelgium
NIO - New low or just small correction ?! NIO - Made 5 waves up but it looks like this could actually be a wave C ! Therefore be very careful if you want to buy the pullback. If price goes down to the orange zone in corrective fashion and we can distinguish a corrective pattern, we can look to buy the reversal out of that zone and even add on a new high. BUT if that's not the case and we see relatively sharp moves down, we've most likely started a new impulsive move lower and can then expect new lows !
NYSE:NIOShort
by ElliottWaveBelgium
12
S&P500 - 200+ points drop possbile if price is below 4344S&P500 - As I said on my last post, it's very likely we're in an Ending Diagonal wave 5 here and should therefore not initiate any longs just because we saw price make a new high. The ED is invalidated if price is to go above 4344. We can look for support at the noted orange zones at first. If the Blue impulsive count is correct, we can expect wave 4 to be more sideways and retrace wave 3 only a bit due to the alternation guideline.
TVC:SPXShort
by ElliottWaveBelgium
1
Bitcoin - At potential support right now ! Dead cat bounce ?!There's really no big change since my last post (see below) Bitcoin - BTCUSD - Count #1 : We could see price stall around the 30k-35k zone in case this count is correct since there's potential support from the 38.2% Fib retracement level, the 1.618%-200% Fib projection level of wave (a) and that simple trend line from the wave 2 low. For now, price made a rounded top and broke below the black support line. We could therefore see a pullback testing that line again very quickly. At that point, we either will then see price shoot above the wave (b) high or come back down making a new low. Of course do not forget that waves 4 are the trickiest of all corrective phases as they can develop in any form of corrective pattern, including combinations and triangles ! Which would then keep price sideways for some days if not multiple weeks ! Therefore, be very careful when looking to buy. Bitcoin - BTCUSD - Count #2 : No change here since last update. Looking for 29k/34k as first potential support zone. s3.tradingview.com
BITSTAMP:BTCUSD
by ElliottWaveBelgium
EOS - Bullish only above 12$ - Outperforming BTCEOS - I'm not necessarily convinced by the wave counts here but what I do like is the fact that it's outperforming BTC. Looking at Fib levels, I think if price can go and remain above ~13$ it could easily reach 23$ at which point I would also look for the 1.272 Fib level at ~50$ . That's simply because when price tends to break above the 78.6% Fib retracement level, it has a tendency to at least touch the 127.2% level.
BITFINEX:EOSUSDLong
by ElliottWaveBelgium
3
DAX - Going higher once more before stalling end May and June ?Price has been pretty easy to ready up to now as you can see an impulsive move up where wave (iv) is a clean Zigzag correction with a Triangle for orange wave b. This indicates that this move down is counter and not establishing a new down trend. Therefore we can expect price to go higher once more to finish blue wave (v). As you can see there's a nice Fib cluster around the 15700/15900 zone, so be aware of that as it could act as resistance and might be the turning zone. This setup is of course invalidated if price drops below 14845. -> Buying here with a stop at invalidation gives a Reward/Risk of a bit less than 2:1 so, try and find a better place for your stop if you want to improve your R/R ratio. (Hint look at smaller time frames)
TVC:DEU40Long
by ElliottWaveBelgium
YEARN FINANCE - YFIUSD - Next big 1000% rally ?!YEARN FINANCE - YFIUSD We have a nice big base here and the wave count suggests a potential Leading Diagonal with a very shallow wave 2 which indicates lots of underlying strength here. Otherwise, we might be in a Flat correction meaning we'll see price go below 37600-ish soon. Personally I favor the bullish view because of how RSI has been always staying above 40 and sometimes even went overbought since that low in Novembre.
Long
by ElliottWaveBelgium
Polkadot - Consolidation ended and going for a new high nowDOTBUSD - Looks like it finished a Flat correction. Notice how price stopped at the 127.2% Fib projection of wave a which is a usual termination point for wave C of a Flat correction. Price is now at the VWAP from the high which could act as temporary resistance but as long as price remains above 26.6 I think it's going to go higher. Since I don't know exactly where the beginning of wave 1 is (and using 0 doesn't really help), it's a bit difficult to pinpoint the termination point of wave 5, therefore we must be attentive to the price action once a new high is made. First target zone though is at 56/63 followed by 89/91.
DLong
by ElliottWaveBelgium
Ethereum - Bullish if can stay above 2250The usual target zone of blue wave 3 (161.8% to 200% projection) has been exceeded. In such cases price has a tendency to then go for the 261.8% Fib level which in this case is at 4467. But because we have a few important Fib levels forming a potential resistance cluster around the 3300/3600 zone, I recommend going for that at first. Only if that zone is broken to the upside we can look for the 4400/4800 zone next. Notice that ideally price shouldn't go below the 50RSI level but rather go above the 70 level and also, the blue 10Week EMA shouldn't see a clean break down.
BITSTAMP:ETHUSDLong
by ElliottWaveBelgium
Bitcoin - Going for 20K or 100K first ?!I have 2 counts for Bitcoin at current level. First one you can see higher and the alternate one is here below. Count 1 : suggests we finished red wave 3 and are now consolidation for red wave 4. Seen how shallow the wave 2 retracement is, we can expect something similar and not too much out of proportions for wave 4. After this wave 4 pullback we could then see price go for the 261.8% Fib projection of red wave 1 which is at 115K ! Be aware though that a new high doesn't immediately mean wave 4 is over as it's possible we get a Flat or a Triangle correction and in both cases wave B of those corrections can make a new high before going lower again! ------------------------------------------------------------------------- Count 2 : suggests blue wave 3 is over and we are now in a larger wave 4 correction which can last nearly a year seen that blue wave 2 lasted 260days and waves 4 often have a tendency to last a bit longer in time than wave 2. This correction would then also be much deeper than that of the first count, with potential support around the blue noted zones at 29K/33K or 18K/22K. -------------------------------------------------------- In conclusion Better be cautious for the moment and wait for any of the counts to be validated before putting your hard earned money in.
BITSTAMP:BTCUSD
by ElliottWaveBelgium
1