Elliot wave count update and Bias on long termHello fellas, welcome back to the Sunday update of bitcoin, Just like usual we will explain the chart work about bitcoin and its long term and short term bias. Here in this post, I'll do an elliot wave count in specific.
Looking at the above chart, we can see that there are still a possibility for bitcoin to head up to the upside of the huge down trend channel which I can classified it as the b wave for potential Z wave in higher degree. Although there might be a potential to the upside movement and try to retest the upper line of the channel, I still believe that there are 1 more wave down to the area of confluence support to complete the Z wave.
There are 2 areas of resistance that is becoming my main concern which are at the 38.2 fib retracement which has confluence with the $8000 region as support and the golden pocket zone which has a confluence with the upper line of the downtrend channel.
For short term, there is still potential to push to the upside and for long term, I still see a potential of touching the $5000 region.
Fibonacci
How to trade in range/consolidation periodA lot of people asked me what to do in the case when the price is stuck in consolidation.
You can use Fibonacci retracement and create a range (0, 0.25, 0.5, 0.75, 1) and put it from swing low up to swing high. By that, you will create key points where the price will react on during consolidation time.
You can use it on all Timeframes and it does not matter if it is Monthly, Weekly, Daily or minute chart.
As you can see here, price very nicely reacts to each of our levels which we have set up once the range has been established. Also, when the price is stuck in consolidation range you do not want to trade it. Avoid it. You will make many mistakes, rather you should focus on a clear bullish/bearish trend.
An Ongoing Study of Entries/ExitsIf you wish, you may consider following this Trading Idea. Here, I will attempt to focus on doing entry/exit analyses using specific trading strategies/methodologies. This Trading Idea will contain both focused and current chart analyses. My intent is to keep the content as clean, concise, and educational as possible. Please feel welcome to ask questions or contribute suggestions.
Historical Study :
Steve Nison:
- Candlestick analysis
- COP (Change of Polarity) breakout strategy
- Fibonacci Retracements
Tom DeMark:
- TD Sequential analysis
Arrows = Entries/Exits
Pulse of an asset in Fibonacci: LINK at minor Impulse ReduxAfter a market-wide sell off, buyers have stepped in.
ChainLink has had the best gains of most Alts thus far.
Now it is at the Impulse Core of previous wave down.
This is a minor Impulse, but it is an important one to watch.
Rejection would make a lower high and continue downtrend.
Break above to a higher high would get more bulls on board.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
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Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
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want to Learn a little More?
can you Spend a few Moments?
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Looking for a top formation in DJI28,700 - 28,900 is a potential top for DJ.
In this range we have:
- The upper daily channel line
- Wave 5 target for Elliot waves
- Fibonacci extension 62%; From a) the beginning of the impulse movement, to b) end of wave 3; to c) end of wave 4
- The first target after previously price range break up; in the form of rectangle price pattern
and finally;
- The broken short-term bullish trend-line could provide resistance in the mentioned range
*This is only how we interpret the market
& Marry Christmas!!
Bitcoin update : Elliot wave and confluence zoneHello fellas, How are you doing today? I hope you're doing great. welcome back with me with today's technical analysis about bitcoin. Yesterday's rally was so beautiful with around 6% surged to the upside. So, let's see where will the price heads in the near future.
Looking at the chart, This is my best elliot wave count for bitcoin. we can see that the 1-2-3-4-5 structure is the impulse wave for A wave in higher degree and on current price, this could be an A structure to complete the B wave in higher degree and therefore, we're looking for C wave structure in higher degree which in my opinion will be another leg down for bitcoin. And I want to remind you that currently the price is still trending on around the WXYXZ corrective pattern since the end of this year's parabolic move since June 2019. and this ABC structure will complete the Z wave to confirm the potential bottom of bitcoin.
There are 2 areas that I consider as a major resistances in this current move for bitcoin. The first area is the confluence zone of the $7800 - $8000 region which has an alignment with previous broken support, 38.2 fib level, and the median line of the down trend channel which I believe will become a big boundary for bitcoin's next rally. And the most bullish scenario that I can see for now is if the price can break out of the 1st confluence zone, I will look at the 2nd confluence zone (around $9000) as the potential top for this move, it's roughly the golden pocket zone and it has the confluence with the end of the 1st impulse subwave in A wave and the upper line of the down trend channel.
However, as long as the price is still trending inside this down trend channel, I won't expect a bullish bias. Breaking out of the upper line of the channel will confirm the next bullish bias in long term.
GBPUSD is in corrective phase (multiple time frame analysis)Hello fellas, welcome back to the technical analysis with me and this time I will do the GBP/USD technical analysis starting from daily time frame and lower time frame. we might present you the elliot wave count on this current analysis too.
We have seen the sink of GBP following the descending value of EUR . But, I see this as a cycle and it's a good cycle if we look at higher degree of the price, even if the price is in up trend moves, we need a retracement to represents the sell off and take profit action from the long to keep this market healthy.
Now look at the technical analysis here, we can see that the price has formed an action of breaking out of the blue resistance trend line that is now become a support. And based on my 3 stages strategy of break out, we must aware that after the initial break out, there should be any retest action to the previous broken support or resistance as the 2nd stage and usually this 2nd stage is the correction pattern in higher degree. This guideline has the alignment with the elliot wave count which indicate the 1st impulse wave has finished on this GBPUSD pair. And now we will look for where will the ABC correction move ended. And what the coincide is that the golden pocket zone is having a confluence with the blue resistance trend line that is now become support.
Pulse of an asset in Fibonacci: Bitcoin's Crucial Impulse Redux"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
Bitcoin Dominance update (based on previous EWT)First of all, before you read this analysis, please read the previous analysis about bitcoin dominance on the related idea to help you understand more about it
Hello fellas, welcome back to the bitcoin dominance update. we have seen some manipulation has occured in the past few days, especially when we saw the price surged from $6500 region to roughly $7500 region. This $1000 movement occured only in 10 hours. Some analysts might think that the bearish market structure has ended and the bottom's already in. But, I really think that the the price is even far from the bottom for now.
Just look at the chart, I've modified the levels on the chart and the fibonacci retracement method that I'm using comparing my last analysis. I use the body to body connecting method on weekly chart to measure the fibonacci retracement levels because I think this condition can give me more confluence reasons and of course excluding the trap region which are the wick on the higher time frame can give us more conservative view on this chart.
Based on the elliot wave prespective, the dominance level has spiked up exactly after I gave my last analysis. it's currently at 70% levels and this region is however becoming a strong resistance for bitcoin dominance. This 70% level is the area of broken support that is now become resistance. Beside this, this is a golden pocket zone.
We've seen the first rejection of current resistance level and there is a potential of ABC pattern too. So, it may be the top of bitcoin dominance right now. And if I wrong about this, I see the 71% as the maximum region for the dominance to top.
Pulse of an asset in Fibonacci: OXT is born with "Golden Growth"This type of growth has been called "Exponential" or "Parabolic" by many analysts.
This occurrence is actually NOT very common in markets at a scale we can see.
This DOES occur at microscopic levels but is difficult to capture at those levels.
Most moves are "Linear" growth such as 2.618, 3.618, 4.618, as most of my plots.
But once a while we will see this " Golden Growth ", 2.619, 4.618, 6.853, etc.
This can occur early in life, or later during a "ReBirth" like BTC in early 2019 .
But this growth pattern is the ONLY manner in which things grow in Nature.
It applies from the length of your finger bones, to the arms of a spiral Galaxy.
It makes sense, 1+1=2, 1+2=3, 2+3=5, 5+3=8, etc. A natural means of growth.
This particular specimen is OXT (Orchid) recently launched on CoinBase.
It has since grown by leaps and bounds (literally) with over 300% gains.
Each expansion and each retrace have been in sync with this Fib.
So will it now crash and burn? or will it reach for the Next Golden Fib?
Of note, it was not able to reach the blue 13.706 ratio before pulling back.
If it comes back to a fib and bounces with a " Ping ", that is when to buy.
This is part my ongoing series to collect examples of my Methodology.
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Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
"Pulse" of an asset via Fibonacci: BTC at DIRE Impulse Redux"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the buyers still there? Enough to absorb the selling power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
Pulse of an asset in Fibonacci: Chapter 6: Give me a ping VasiliChapter 6: "Give me a ping Vasili, one Ping only please"
"Impulse" is a surge that creates "Ripples", like a pebble into water.
Each of the Ripples has precise bounds defined by the "Golden Ratio".
Until a new Impulse occurs, the Price oscillates within "Energy Bands".
Markets quite often ask "Give me a ping Vasili ... ONE Ping only please?"
Some Pings are so clean you can almost HEAR them resonate off the chart.
Such a Ping causes the Price Wave to STAGGER as if it received a concussion.
Not all Pings start a reversal, but most reversals start with a Ping.
Every Ping increases our confidence in the entire set of Ripples.
When the Pings stop, it is time to find the new Impulse at work.
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This is "Chapter 6" of my ongoing "Book" detailing my methodology.
The first five chapters are linked below, best to start with #1 and #2.
I will use this publication to collect "Pings", and to study the after effects.
Previous Chapters:
Chapter 1: Introduction and numerous Examples.
Chapter 2: Detailed Samples and multiple Impulses.
Chapter 3: The Dreaded 9.618: Murderer of Moves.
Chapter 4: Impulse Redux: Return to the Birth Place.
Chapter 5: Golden Growth: Nature's Perfect Expansion.
Chapter 6: Give me a ping Vasili, one Ping only please.
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Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity.
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
GBPAUD H8 (Educational purpose Only)GBPAUD H8 (Educational purpose Only)
- Elliott Wave provides the highest probability of the price movement and Fibonacci levels is the math basis for the Elliott Wave Theory. Both waves impulsive and corrective, follow to specific Fibonacci proportions.
Regards, GoldfXcc Team
"Pulse" of an asset via Fibonacci: LTC Impulse Redux of 2019LiteCoin has made a round trip in 2019 (as have many others).
Price is approaching what SHOULD the "Maximum Demand" zone.
"Should" as in it remains to be seen if there is still demand here.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the buyers still there? Enough to absorb the selling power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
"Pulse" of an asset via Fibonacci: Raven's GENESIS Impulse ReduxMost assets have many Impulses in a Lifetime, each with a Core.
But all assets have only ONE "Genesis" Impulse, at birth or rebirth.
Raven has returned to its Genesis Core, and now it is life or death.
Is Raven's core DNA still there? enough to breath new life?
Will it be reborn like a Phoenix and fly back into the wild?
Or will it sink into Fetal position and never be heard again?
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
This is part my ongoing series to collect examples of my Methodology.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
Bullish move in Fibonacci ChannelIt looks like MATIC is again climbing in a channel. LONG Opportunity
On the way up there might be a resistance from SMA50 sending it back to the channel bottom (276 Satoshi)
However, eventually, I expect it to climb up to the channel top (344 Satoshi) (SHORT Opportunity)
And then back to the bottom of the channel (approx 276 Satoshi) (LONG Opportunity)
This is the same climbing channel I mentioned in A Peek to the Past:
Just a possibility... Curiously watching if the Fibo channel is at work again
A peek into the pastMATICBTC neatly moved in a Fibonacci Channel and fell down to 100% bottom of that channel.
Two detectors predicted the top
Golden Ratio Top Detector (UO_GRFM)
Mayer Multiple
Golden Ratio Top Detector also showed the potential bottom correctly.
Future? As long as it coasts above SMA350/6h, I will consider it a bullish opportunity and keep collecting.
Also note that is about to jump to an upper Fibonacci channel(78.60%) from 100% channel-- very bullish if this happens
"Pulse" of an Asset ala Fibonacci: Gold's Round Trip to ImpulseGold erased most of the last leg up, but only "most" of it.
Why not "all"? Is this a "Dead Cat"? Will it "Crash" further?
With the correct "impulse" identified, we can gather clues.
Now that it is back to the Impulse, next move is crucial.
If it lingers in "Accumulation" zone, expect another push up.
If it reaches the "Impulse Core", observe closely for strength.
" Impulse " is a surge that creates "Ripples", like a pebble into water.
" Impulse Redux " is returning of wave to the original source of energy.
"I mpulse Core " is the zone of maximum energy, in the Golden Pocket.
Are the Buyers still there? Enough to absorb the selling power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
"Pulse" of an asset times Fibonacci: GU at MAJOR Impulse ReduxThe Pound has been climbing rapidly due to Brexit developments.
Now faces not only round number 1.3000 but also a major Impulse.
This zone could determine the future trend for many years to come.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
Bitcoin buy and sell Fibonacci ChannelsBitcoin is dropping in a very clear Fibonacci Channel. I have labeled the Buy/Sell Channels in the chart. Until it goes out of the channel, this is the trend...
Personally, I would sell in the sell channel and put a stop loss to buy it if goes out of the channel. This is not financial advice. Make your own analysis. Just pointing out the use of Fibonacci Channel
"Pulse" of an asset times Fibonacci: NU at minor Impulse ReduxAs you know, Kiwi has been quite strong lately, across the Board.
It has made a return trip after a 6 month exploration of the Deep.
Now we will see the true strength of its conviction at the Core.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
In this particular case it has already Pinged the 0.618.
As in most of all cases, it was rejected on first approach.
How it reacts here will offer insights into trend strength.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
BTC?USDTHi Guys, please like me now and follow me on tradingview.com/u/omidmokri/
I'm going to show you my Bitcoin trading plan in USDT and Break-even level of various Miners for BITCOIN.
Look at the latest analysis update The illustrations are illustrative.
As you remember English is not my native language (i'm KURD and VIVA ROJAVA), so please don't judge my English strictly, I will continue to improve my skills in this.
Guys, if you like the idea please like the button, this will be the best thanks.
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