BITFINEX:BCHUSD is finally beginning the extension of the 5th primary wave.
Analysis Method: Fibonacci & Elliot Wave
Review:
BITFINEX:BCHUSD has been in a bear market since reaching an all-time high in December 2017 (273 days ago).
Weekly Chart:
1. Primary Wave Sequence (Green)
-Wave 1: +347.02%
-Wave 3: +899.29%
-Wave 5: +382.22%
- 133 Days
2. Correction Sequence (Yellow)
-A Wave: 5 Waves (Pink) (-84.87%)
-B Wave: 3 Waves (+197.89%)
-C Wave: 5 Waves (Orange) (-77.95%)
-Fib. Extension (5-A-B)
3. Fibonacci Extension: Wave 1 & Wave 2
4. Wave Sequence Price Increase: 2,290.84%
- $215.00/$4,104.30
- 133 Days
5. Wave 2 Price Decrease= 90.06%
- $4,104.30/$407.90
- 273 Days
6. Fibonacci Time Extension: Wave 1/Wave 5 (Yellow)
The Beginning:
Idea: BCH-BREAKOUT-Imminent
The Correction ended at $426.40 with a sharp reflex followed by a Micro-Wave sequence.
The Micro-Wave was a lower degree Wave 1 & Wave 2.
The 3rd Wave extended over 700% of Wave 1 & Wave 2.
The 4th Wave Correction resulted in what Elliot called a 'diagonal triangle'.
There are two main types of diagonal triangles. One is where the two boundaries of the triangle converge and the other where they diverge. The second type is known as Expanding Diagonal Triangles. Irrespective of whether they are converging or expanding diagonal triangles, if they occur in the first wave position, where they are known as ‘leading diagonal triangle’, the internal waves are made up of 5-3-5-3-5 sub waves. If they occur in the fifth wave position, they are known as ‘ending diagonal triangles’ and the internal waves are made up of 3-3-3-3-3 sub waves. For example, in an uptrend, the ending point of the fourth wave diagonal triangle will be near or even above the top of the third wave. Then all of a sudden, when the ‘e’ wave of the triangle is finished, price will break even higher and the fifth wave will race upwards.
The corrective sequence occurred in the Wave A position making it a leading diagonal.
When it occurs in Wave A position, it becomes a leading diagonal triangle, and when it occurs at the Wave C position, it is an ending diagonal triangle.
A diagonal triangle differs from a regular (horizontal) triangle in that it slopes in the direction of the trend. So when the eventual break out happens, the next move will be in the opposite direction.
The third wave traveled a considerable distance in a short space of time, and the diagonal triangle itself appeared sloping in the direction of the major trend which hints that the 5th Wave will extend.
The internal waves of the correction were 5-3-5.
The correction was also complex by having 2 correction sequences of ABCDE.
There was a total of 11 corrective sub-waves.
Wave 4: Price Range & Date Range
Wave Retracement:
-50%
-Weak Retrace for Higher Degree Wave 1
-Extending Higher Degree Wave 1?
Fib. Extension (0-3-4)
Primary Wave Sequence (Teal)
S-1: 25.36%
S-2: -17.53%
S-3: 39.25%
S-4: -14.73%
Terminal Wave 5 Target: $730 & $760
See Related for Additional Analysis. Will update.
Cheers,
-AB
Analysis Method: Fibonacci & Elliot Wave
Review:
BITFINEX:BCHUSD has been in a bear market since reaching an all-time high in December 2017 (273 days ago).
Weekly Chart:
1. Primary Wave Sequence (Green)
-Wave 1: +347.02%
-Wave 3: +899.29%
-Wave 5: +382.22%
- 133 Days
2. Correction Sequence (Yellow)
-A Wave: 5 Waves (Pink) (-84.87%)
-B Wave: 3 Waves (+197.89%)
-C Wave: 5 Waves (Orange) (-77.95%)
-Fib. Extension (5-A-B)
3. Fibonacci Extension: Wave 1 & Wave 2
4. Wave Sequence Price Increase: 2,290.84%
- $215.00/$4,104.30
- 133 Days
5. Wave 2 Price Decrease= 90.06%
- $4,104.30/$407.90
- 273 Days
6. Fibonacci Time Extension: Wave 1/Wave 5 (Yellow)
The Beginning:
Idea: BCH-BREAKOUT-Imminent
The Correction ended at $426.40 with a sharp reflex followed by a Micro-Wave sequence.
The Micro-Wave was a lower degree Wave 1 & Wave 2.
The 3rd Wave extended over 700% of Wave 1 & Wave 2.
The 4th Wave Correction resulted in what Elliot called a 'diagonal triangle'.
There are two main types of diagonal triangles. One is where the two boundaries of the triangle converge and the other where they diverge. The second type is known as Expanding Diagonal Triangles. Irrespective of whether they are converging or expanding diagonal triangles, if they occur in the first wave position, where they are known as ‘leading diagonal triangle’, the internal waves are made up of 5-3-5-3-5 sub waves. If they occur in the fifth wave position, they are known as ‘ending diagonal triangles’ and the internal waves are made up of 3-3-3-3-3 sub waves. For example, in an uptrend, the ending point of the fourth wave diagonal triangle will be near or even above the top of the third wave. Then all of a sudden, when the ‘e’ wave of the triangle is finished, price will break even higher and the fifth wave will race upwards.
The corrective sequence occurred in the Wave A position making it a leading diagonal.
When it occurs in Wave A position, it becomes a leading diagonal triangle, and when it occurs at the Wave C position, it is an ending diagonal triangle.
A diagonal triangle differs from a regular (horizontal) triangle in that it slopes in the direction of the trend. So when the eventual break out happens, the next move will be in the opposite direction.
The third wave traveled a considerable distance in a short space of time, and the diagonal triangle itself appeared sloping in the direction of the major trend which hints that the 5th Wave will extend.
The internal waves of the correction were 5-3-5.
The correction was also complex by having 2 correction sequences of ABCDE.
There was a total of 11 corrective sub-waves.
Wave 4: Price Range & Date Range
Wave Retracement:
-Weak Retrace for Higher Degree Wave 1
-Extending Higher Degree Wave 1?
Fib. Extension (0-3-4)
Primary Wave Sequence (Teal)
S-1: 25.36%
S-2: -17.53%
S-3: 39.25%
S-4: -14.73%
Terminal Wave 5 Target: $730 & $760
See Related for Additional Analysis. Will update.
Cheers,
-AB
تعليق:
تعليق:
Will provide further analysis shortly.
Travel day.
Travel day.
تعليق:
تعليق:
Extension?
تعليق:
تعليق:
Lower Degree Sequence.
تعليق:
تعليق:
LD Sequence
1. Fib. Extension S-1 & S-2
-S-3 traveled beyond 1.618 (Extension)
2. Fib. Extension 0-3-4
-S-5 traveled approx. 1.618 (Extension)
1. Fib. Extension S-1 & S-2
-S-3 traveled beyond 1.618 (Extension)
2. Fib. Extension 0-3-4
-S-5 traveled approx. 1.618 (Extension)
تعليق:
*S-5 traveled approx.1.382 (Extension)
تعليق:
Strong Micro-Wave.
تعليق:
Looks familiar...
Looks familiar...
تعليق:
Snap up!
تعليق:
Leading Diagonal
تعليق:
تعليق:
Hyperbolic Time?
تعليق:
تعليق:
Sub-Waves are hinting 5th Wave Extension.
Higher Degree 3rd
-S-1 : Normal
-S-3 : Normal
Green Trend line - Extending 5th Trigger
Higher Degree 3rd
-S-1 : Normal
-S-3 : Normal
Green Trend line - Extending 5th Trigger
تعليق:
Higher Degree 3rd
-S-5 Extended
-S-5 Extended
تعليق:
تعليق:
تعليق:
Correction Ending...
تعليق:
Always good to see to the bigger picture...
Always good to see to the bigger picture...
تعليق:
تعليق:
Do you see how the Higher Degree mocks the Lower Degree?
تعليق:
تعليق:
Green box = Lower
Teal box = Higher
Teal box = Higher
تعليق:
تعليق:
Note: Red Arrow Spiral(s) convergence
تعليق:
Recent sell off is just weak hands...
They will miss the snap higher...
They will miss the snap higher...
تعليق:
تعليق:
Breakout Alert...
تعليق:
تعليق:
Shot Calling
Real-Time
Real-Time
تعليق:
تعليق:
Tiny Sub Sub Wave 1
تعليق:
Wave A-3
تعليق:
FLAT
تعليق:
تعليق:
Note: Reflex (R>L)
تعليق:
تعليق:
تعليق:
FYI: Wave 1 is usually a sloppy formation
تعليق:
تعليق:
تعليق:
*Sloppy
*Sloppy
تعليق:
Caught off sides?
تعليق:
تعليق:
This is exactly what makes counting waves challenging.
Large Buyers/Sellers create these long candles which sometimes violate Elliot's Rules.
Large Buyers/Sellers create these long candles which sometimes violate Elliot's Rules.
تعليق:
Exactly why Fibonacci Spirals are important along side wave analysis.
تعليق:
تعليق:
This move is going to BIG!
تعليق:
تعليق:
Excited yet?!
تعليق:
تعليق:
تعليق:
Wave A
Wave B
Wave C
Real-Time
Wave B
Wave C
Real-Time
تعليق:
تعليق:
تعليق:
Wave 1 Formation:
Note the long candle = Accumulation (Between Fib Time 3 & 5)
If the candle wasn't that long then Elliot's Rule regarding Wave 2 retrace wouldn't have been violated.
VOLUME! The higher the volume the cleaner the formations! Some traders have volume requirements for any given security that they trade (100K, 1M).
*But, Wave principles work regardless of Volume.
Note the long candle = Accumulation (Between Fib Time 3 & 5)
If the candle wasn't that long then Elliot's Rule regarding Wave 2 retrace wouldn't have been violated.
VOLUME! The higher the volume the cleaner the formations! Some traders have volume requirements for any given security that they trade (100K, 1M).
*But, Wave principles work regardless of Volume.
تعليق:
Cannot stress the importance enough of the correlation of Lower & Higher Degrees!
Key to Wave Analysis.
Key to Wave Analysis.
تعليق:
تعليق:
Spike/Complex
تعليق:
تعليق:
T-20 minutes and holding
تعليق:
T-9 minutes and holding
تعليق:
تعليق:
T-9 minutes and counting
تعليق:
Main engine start (T-6.6 seconds)
تعليق:
تعليق:
Lower Degree Wave:
5th Extended
Higher Degree Wave:
?
5th Extended
Higher Degree Wave:
?
تعليق:
تعليق:
تعليق:
#SLOWWALKER
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
Wave 1 & 2 Complete
تعليق:
3rd Wave
-S1
-S2
Above
-S1
-S2
Above
تعليق:
تعليق:
تعليق:
تعليق:
Above:
Breaking above 50...
Breaking above 50...
تعليق:
Money will start flowing into crypto due to market sell off...
تعليق:
تعليق:
Wave A - Bottomed in 3 Waves
تعليق:
Noted in Blue (Only use ABC because there isn't a 123 sequence available)
Noted in Blue (Only use ABC because there isn't a 123 sequence available)
تعليق:
تعليق:
تعليق:
Lower = Green
Higher = Yellow
Higher = Yellow
تعليق:
Lower Retrace = .618
تعليق:
*Lower Retrace = .786
Higher Retrace = .786
Higher Retrace = .786
تعليق:
تعليق:
تعليق:
تعليق:
T-0
تعليق:
تعليق:
Reminder: This is a Higher Degree Wave 1 that is extending.
تعليق:
تعليق:
Wall Street Money Incoming in the next year...
تعليق:
تعليق:
تعليق:
The longly anticipated move has begun...
Begin acceleration...
Begin acceleration...
تعليق:
Thesis:
Monetary System Reset...
Fiat cannot survive...
Monetary System Reset...
Fiat cannot survive...
تعليق:
Careful:
Reminder: Wave 1 is sloppy...
Standing by analysis...
Reminder: Wave 1 is sloppy...
Standing by analysis...
تعليق:
تعليق:
تعليق:
Next Few Minutes are key...
Next Few Minutes are key...
تعليق:
تعليق:
Reminder: Complex/Spike
تعليق:
تعليق:
تعليق:
Heart Dropped for a min...
تعليق:
تعليق:
Big Money coming in...
تعليق:
تعليق:
This almost looks like manipulation and a big player knocking down the price.
تعليق:
تعليق:
تعليق:
Careful shorting here...
تعليق:
Expecting a spike back up...
تعليق:
تعليق:
Stop below 435.01
تعليق:
Money Flowing into crypto stocks...
تعليق:
تعليق:
تعليق:
BCH has bottomed.
Forming support...
Analysis holds...
Forming support...
Analysis holds...
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
Higher Wave 1 Extending
تعليق:
تعليق:
تعليق:
تعليق:
Strong move coming up...
تعليق:
Breakout Alert...
تعليق:
Working through STOPs
تعليق:
Someone or Group is trying to hold this down...
Just look at the book.
Just look at the book.
تعليق:
A lot of buying, then blocks of STOPs.
تعليق:
STOPs being defeated.
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
All the same spirals.
تعليق:
If the price-action doesn’t spike and hold these spirals then it is a failed wave. There should be support here to hold.
تعليق:
تعليق:
تعليق:
No spike = No good
Staying Course.
Staying Course.
تعليق:
تعليق:
Daily Needs to spike back...
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
Lower
Lower
تعليق:
تعليق:
تعليق:
تعليق:
Shorts need to start covering
تعليق:
تعليق:
تعليق:
One last time to test support...
تعليق:
Another 5-3 Sequence...
تعليق:
تعليق:
Reminder: Daily Bar should spike all the way back up.
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
BOOM?
تعليق:
تعليق:
Sub-Wave had an Extended 3rd....which should lead the higher degree to spike us up.
تعليق:
تعليق:
تعليق:
The Sets of 5-3 are STILL continuing...
تعليق:
تعليق:
تعليق:
Start the Clock...
تعليق:
15th
تعليق:
تعليق:
Say Goodbye to the $400-$500 price range...
تعليق:
تعليق:
تعليق:
تعليق:
Reminder: This is a Leading Diagonal...
Wave 4 CAN VIOLATE Wave 1
Wave 4 CAN VIOLATE Wave 1
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
Talk about EXTREME CONSOLIDATION!
تعليق:
تعليق:
Sub-wave 5-3
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
تعليق:
Looks like a very merry Christmas...
تعليق:
تعليق:
Shorts HAVE to COVER...
تعليق:
Strong setup
Strong setup
تعليق:
تعليق:
تعليق:
Apologies for the long delay!!!!!!
I knew we were bottoming but didn’t know exactly when the move higher would be!
I knew we were bottoming but didn’t know exactly when the move higher would be!
تعليق:
Boom, that’s the move I was talking about!
تعليق:
Creating a new idea to follow the move.
Cheers,
-AB
Cheers,
-AB
تعليق:
1.Shockwaves....
2.Analysis....
3. BUY/COVER (6-9 AM EST)
2.Analysis....
3. BUY/COVER (6-9 AM EST)
تعليق:
أغلقت الصفقة: تم الوصول للهدف
