Bullish continuation: this looks bullish AF
Description:
- 1-2, 1-2 setup, 2nd wave (leading diagonal).
After some research concluded that there are only 2 bullish scenario's, namely 1) straight into 3rd wave or 2) in B wave (ABC). For obvious reasons, a prolonged correction would be ideal. A deeper pullback for a wave C would bring the 1.618fib much higher.
- 1-2, 1-2 setup, 2nd wave (leading diagonal).
After some research concluded that there are only 2 bullish scenario's, namely 1) straight into 3rd wave or 2) in B wave (ABC). For obvious reasons, a prolonged correction would be ideal. A deeper pullback for a wave C would bring the 1.618fib much higher.
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Waiting for confirmation to decipher this particular structure.ملاحظة
For the record, have ignored the wick, because this was not present at other exchanges.ملاحظة
This is/was the only bearish scenario i.m.o. left. However, price action broke the 0.9fib level. If price breaks previous high. This scenario is definitly exit.ملاحظة
Perfect, straight into wave 3. Got enough room to grow. ملاحظة
Let's see if will get a reaction on the SMA8. ملاحظة
Got some price reaction on the 0.5fib and sma 8 (4h). Not sure, if the low is in, because I'm not identifying a zigzag, but just 5 motive waves down.ملاحظة
Potential alternative ew count, expanding diagonal.ملاحظة
Price broke 0.618fib. Looking for lower prices. Potential leading diagonal (1/A). If you got caught in this move wait for wave 2/B.ملاحظة
Not happy with my labeling, but as long as I don't see it cross the red line HBAR could see higher prices. Next move up will tell us more.ملاحظة
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Update on Bitcoin_v0.2. ABC turned into a 1-2-3-4-5. ملاحظة
Take notion of 3 possible Bitcoin scenario's:1) double zigzag for a potential wave 2 (bearish/bullish)
2) double zigzag for a potential wave Y (1.618fib at $57087) (bearish)
3) leading diagonal for a wave 1 (bearish)
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Update Bitcoin_v0.3. Finished wave 1? (RSI bullish divergence w5, 4h)ملاحظة
With bitcoin taking a (short-term) bearish turn, I'm favouring a WXY pattern over a finished ABC. Double zigzag for wave W and forming a possible 3-wave X-connector. After X confirmation, we can look for lower prices. Waiting game for the complex Y structure. Currently MACD(d) at baseline and entering bearish momentum. RSI(d) isn't giving me any solid information. Take it one at a time.ملاحظة
Reassessed the Bitcoin chart and this it is currently my best guess in terms of getting ew count right. Don't know if anybody else has this count, but feel free to comment. X wave is done and we're in wave Y.
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Opportunity for bullish continuation. Another ZLR accompanied with ema contraction.ملاحظة
Minor adjustments. Ew count still looks solid. Might see a bit more consolidation within the minute base channel. This rocket, however, is fueling up for some big moves ahead.ملاحظة
MACD(d) displays a possible hidden bearish divergence. ملاحظة
Update Bitcoin v0.5. 1-2, 1-2 setup. ملاحظة
Haven't updated this idea for a while, but 2 May idea remains intact. Expect a slow grind to 0.07c, which i.m.o. presents a great long opportunity.ملاحظة
Update Bitcoin v0.6. ملاحظة
**correction 'label: this structure is not impulsive' in bitcoin chart can be identified as a leading diagonal, see invalidation lvl in chart.ملاحظة
Update Bitcoin v0.6.1.ملاحظة
Nice! HBAR hit the 0.618fib lvl retracement at 0.072x.ملاحظة
Penny for your thoughts
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