Hi Guys, if you followed us from the last chart idea, we have completed Point D of our consolidating Wedge and now embarking on our final point E which will consist of a sharp movement down.
See Related Ideas Link below for previous analysis.
הערה
⋅
Current position (Close up)
I've got this at the moment, however there may be a little more movement up. But as it stands, i do see this as an opportunity right now. I'll show you both scenarios:
Or movement up to complete point D: One or the other, we are close or at completion.
הערה
⋅
Looks like that didn't work so i'm looking for this final leg before the drop:
הערה
⋅
A little more cleaner:
הערה
⋅
הערה
⋅
הערה
⋅
הערה
⋅
I'm thinking possible this now guys..
הערה
⋅
הערה
⋅
My count was wrong: Here is the new one.
הערה
⋅
Small tweak:
הערה
⋅
הערה
⋅
הערה
⋅
הערה
⋅
Please LIKE and Follow if you enjoyed the analysis <3 Thanks :)
הערה
⋅
Off we go
הערה
⋅
Tweaked trendline
הערה
⋅
We are still in a range. B correction wave. Could be a decent short position if you're playing the ranges, which could coincide with the end of this consolidation and beginning of leg C of ABC. However i can see that we may be missing 1 more leg (test up) before the drop, we'll see. I have entered but since price has come down a bit i have moved my stops into breakeven/profit. If this is the end and a drop occurs then great we'll ride it all the way down. If it's going to come up again and test, fine we dcan just re-enter.
הערה
⋅
I'm thinking something like this..
הערה
⋅
Woops ^
הערה
⋅
הערה
⋅
הערה
⋅
הערה
⋅
Alternative Path:
הערה
⋅
If price blasts up then the original count was correct.
הערה
⋅
If price blasts up then the original count was correct.
הערה
⋅
הערה
⋅
הערה
⋅
הערה
⋅
Gooodnight everyone i'm off to sleep it's 3:36am over here. Can't stay up any longer xD BEST OF LUCK and i hope this chart is correct and provides a good roadmap for you.
הערה
⋅
Please LIKE and FOLLOW to support me please <3 I would REALLY appreciate it :)))
I think your count is wrong dood. Makes no sense to call the top a b wave. By doing that is throws your whole analysis off. keep it simple, the top was wave 5 of 3. Now we are in an abcde wave 4 correction. We either target $305-$355 or it does a continuation to the downside and we see a price of 205ish. Everyone is long right now including myself. That tells me that a continuation will most likely happen now that i think of it.
hyryda
⋅
@mfibbs, Hi there thanks for the comment. Yes i know that we have completed wave 5 of wave 3, hence we are in the wave 4 correction before the wave 5 leg up. However i am counting the correction/wedge pattern which is wave 4 at the moment. In order to do so, it's structure is in ABCs and so i am trying to ride each of these legs/waves. It's great practice for myself to learn and master the structures of these moves. from the daily/4hour, all the way down to the 1 minute. Surprised about i've learnt.
I agree with your latter prediction of 205ish target before shooting up.
Everyone being long is great however it's the big fish who really move the market. How do they enter into their own positions? Something to ponder on..
However you're right it should continue up if everyone is long.
All the best friend, keeping it simple is always the best way (Y)
For mine, breaking it down and inspecting the "mechanical parts" allows me greater foresight of how certain parts work.
mfibbs
⋅
@hyryda, Hey, are you saying that our rally in the past 4 months is just a wave 4 correction and that we have not bottomed out yet?
hyryda
⋅
@mfibbs, Hi, no i believe we definitely have bottomed out and are on a bull run. wave 4 of bull run up. Once wave 4 is complete we will complete wave 5 which in essence is the completition of a bigger wave 1.
.. And you know what comes after that.
hyryda
⋅
@hyryda, Also thanks for the follow, i really appreciate it :) <3
mfibbs
⋅
@hyryda, Oh yes thats what I thought too. For a second I thought you were saying that this whole move up was a correction. We are definitely in a wave 4 with another leg up. I just wonder if this triangle will break to the upside. The chart says yes, but this is crypto, the most manipulated market out there.