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.Nota
For the record, have ignored the wick, because this was not present at other exchanges.Nota
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.Nota
Perfect, straight into wave 3. Got enough room to grow. Nota
Let's see if will get a reaction on the SMA8. Nota
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.Nota
Potential alternative ew count, expanding diagonal.Nota
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.Nota
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.Nota
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Update on Bitcoin_v0.2. ABC turned into a 1-2-3-4-5. Nota
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)Nota
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.Nota
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.Nota
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.Nota
MACD(d) displays a possible hidden bearish divergence. Nota
Update Bitcoin v0.5. 1-2, 1-2 setup. Nota
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.Nota
Update Bitcoin v0.6. Nota
**correction 'label: this structure is not impulsive' in bitcoin chart can be identified as a leading diagonal, see invalidation lvl in chart.Nota
Update Bitcoin v0.6.1.Nota
Nice! HBAR hit the 0.618fib lvl retracement at 0.072x.Nota
Penny for your thoughts
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