NICKVASS10

Bitcoin continues to operate in a downtrend since it made a new high towards ~$32000; price then came down in a most likely 5 wave structure breaking just below $30000 support area before bouncing back up in a Corrective B wave structure. Price has since been in a C wave correction although price has been quite choppy and corrective evident in the 3rd wave which was 3 waves; likely meaning the C wave is an ending diagonal structure and we can expect this final 5th wave to be an ABC structure also. Where can we target price projections; as written on chart the $28100-$28200 will be a strong area of confluence where price can likely show some strength and support. If we look into past price history there is a strong area of importance in the Purple box where price shot up in April after breaking that area. This makes this area of support/resistance a great area for buyers to come in and for a completion of this correction. Please like and follow for more!!

After Ranging in the $30000-$31000 area Bitcoin broke down quite strongly after testing the Black orderblock shown on chart numerous times showing signs of weakness; additionally from the top at $31431 on saturday 24th of June labelled we can see a series of complex corrections in the form of 3 waves. We then made a new high in 3 waves again to complete an X wave before strong rejection which tells us a correction of previous gains in Bitcoin was underway and a lower leg was likely in the form of 3 waves or a Y wave which is evident. A Schiff pitchfork has upheld price very nicely inside the lower degrees of this Y wave using the genesis of W wave, completion of W wave and the completion of the X wave as the 3 points. -> price tagged the upper median line getting rejected quite nicely and wicking; upon confirmation a sell off could be likely with the median line and lower median line a plausbile target. Price can come down in a 5 wave manner to complete the terminal C wave in this correction. Lower prices will give good buying oppurtunities at strong support levels in what could be a Wave 2 progression of a larger 5 wave impulse to higher prices. Please like and follow for more, Cheers!

Ethereum has come down in an impulsive manner since hitting a high of 2140 , price seems to be in the progression of a 5th wave to the downside with bearish momentum very high bulls are unable to take a hold of price and cause a reversal. There is a key orderblock that lines up with the ~0.5 and ~0.618 fib extension at 1745 and 1713 respectively, there is high probability in this zone price can reverse and retrace some losses over the last week. This area has been historically very significant and could signal a buying zone; however price action may be corrective and further short oppurtunities may arise after retracement in a potential first wave of 5 to occur. Please like and follow for more Elliot Wave analysis!!

Bitcoin is currently underway in a Micro 3rd Elliot wave to the downside; we can see price came down from the 28800 high on 4th of april in a clean sub micro 5 wave impulsive wave structure to the downside to complete the larger degree Wave 1. Price has then made a consolidating pennant structure, forming an apparent ABCDE Wave 2 correction with a 3,3,3 sub wave structure. A wave 3 bottom could be forecasted towards the ~1.618 fib extension lying at approximately $26400 and a wave 4 correction using that pivot would take us to ~ $HKEX:27000 and potentially a final wave 5 could take price to a key area of support at $HKEX:25700 -$25880. Breaking below the lower trend line at around $27770 would send price sharply lower. Ultimately Bitcoin is correcting large gains over the last month or so and will need to go lower to support levels to reclaim some bullish momentum. Please like and follow for more!!

POSSIBILITY OF MASSIVE BULL TRAPS: As articulated in previous posts, the preffered count taken is that an ABC was completed at -$17400 with C wave subdivisions evident. With price strongly bouncing at the $16900, there is potential for alot of traders to become overly optimistic and a bull trap could occur; this could lead to a strong move coming posited to the downside which in turn would liquidate/stop new longs in the market with such optimism present. If price does manage to get above 17400$ this would invalidate this idea but for now this is the preferred play out and if such does occur then reevaluation of the count would be necessary. Volatility is on the rise; and a big move is likely incoming and we are yet to see the direction. If we do see a strong reversal from here a big sell off would be likely towards 16200 area as described in previous posts. Lets see how this plays out. Stay Safe!!

A strong rejection was evident in gold at the $1810 level; which if you have seen my previous ideas on the longer term elliot wave count on Gold, there is valid argument to suggest a larger B wave top was formed at $1810 whereby a macro C wave down can occur and the waves shown on chart are the beginning of the subwaves this larger C wave move. From the posited B wave top gold was rejected in a 5 wave impulse of which a lower high was then formed suggesting a 3rd wave impulse down can occur and a bear trend formation. This is most likely the 5 wave count of a higher degree Wave 1 to the downside which in previous ideas would take out the $1615 low in a zig zag formation. Some likely targets for this 5 wave count to complete would be the 2.618 at ~$1695 with a 3rd wave possibly finishing at the 1.618 extension at ~$1736. As this idea plays out there will be more information as to assesing where price lies in the wave count and the clarification of sub wave posiioning and degrees. Please like and follow for more Elliot Wave Analysis!

In reference to previous posts a likely ABC correction was completed at $17400 with a 5 wave C wave sub wave count evident to add to the validity of the count; from there it was expected to see some impulsive price action to the downside in which price came down to the orderblock 2 given by a 4 hr orderblock which in the past acted as a key support area where many wicks were evident to the downside and acted as support when price was above such orderblock and resistance when below. Price came down in 5 waves with a strong truncation in the 5th wave into the orderblock where buyers came in and strong push upwards occured; the idea of a 1,2 1,2 wave count was invalidated hence, now the alternative larger wave 1 is preferred. Price then got above the key Orderblock 1 indicated on chart however, has no closed strongly below after holding and testing support many times. This is an extremely bearish tell tale sign and should lead to some strong bearish price action in a likely wave 3; where can price be forecasted to likely end up? - the 1.618 lines up in confluence with a strong support area which held wave 2 of the C wave correction at approximately $16200; this is a likely wave 3 destination in a larger 5 wave move lower. Furthermore, Bitcoin has now dropped the lower uptrend line, signalling a break of the uptrend and the formation of a new downtrend, and a potential sharp sell of can occur. Please like and follow for more Elliot Wave Analysis!!

Gold has had a strong uptrend since puting in a low of $1040 which preceeded to an impulsive wave structure to the upside with a 5 wave structure evident; a clear 3 wave structure can be seen in Micro Wave 2 before a strong Micro Wave 3 occured to the upside which was the largest and most impulsive wave of the Micro degree thus following the elliot wave rules whereby wave 3 cannot be the smallest wave in an impulse. The Miniscule Wave 5 was an extremely extended wave which can explain why a truncated Micro Wave 5 occured. Interestingly, a similar fractal can be observed in the Micro Wave 5; whereby similariliy an ending diagonal structure occured (overlapping waves) with an extended wave 5 occured much like the previous mentioned Sub Micro Wave 5 withing the Micro Wave 3 occurence. The Micro 4th wave appears to be a truncated WXY correction down, before a truncated/ double top at the $2075 region occured. In terms of time since the Micro cycle completed, price has only been correcting for a short period of time relative to the impulse therefore it is unlikely that gold can make a new high without correcting for a substantial time relative to the Micro degree cycle to form a Wave 2 bottom of a larger Minor Degree Wave where much higher prices can be anticipated in a Minor Wave 3. From the Micro Wave 5 top, price has come down in 5 forming an A wave and a likely B wave corrective structure has occured and a C wave down can be expected. There are some key levels to look out for in terms of a C wave bottom using fib retracenment, fib extensions and also general support levels. fib retracement: 0.5 - $1562 0.618 - ~$1450 fib extension of A wave: 0.618 - $1560 0.786 - $1504 1 - $1422 Support levels: $1532-$1555 & extremely key $1450 & 1350 Please like and follow for more Elliot Wave Analysis I will post lower time frame analysis on gold

The forecastable ensuing path for bitcoin price action since November 9 when bitcoin bounced off ~$15600 was paramount to the identification of the wave structure of that such bounce; whereby, price if zoomed in bounced up in a clean 5 wave count with extreme validity. Therefore, given such wave structure of the bounce we could expect a 5-3-5 flat pattern to follow; from the ~18200 high we then came down in a WXY triple zig zag formation hence explaining why a low was not broken and the identification of corrective price action can explain why a break lower did not occur. As a B wave cannot be in 5 waves, 3 wave or zig zag variations were only likely with a 1:1 extension of wave A occuring to the bottom of B wave. There is a high likely hood that the C wave top has been found with a 5 wave impulse structure evident to give validity to a ABC correction completion at ~$17400; the C wave acheived close to a ~0.786 extension of wave A which shows some inherent weakness in the market. From the top a strong rejection was evident and the beginning of a proposed impulsive wave structure to the downside as identified in the chart is extremely likely; presented as a 1,2 followed by another 1,2 impulse wave structure. Lets see how this one plays out. Please like and follow for more Elliot Wave Analysis!

Bitcoin continues to operate in a larger Macro 5th Wave, price rejected at a key weekly orderblock at $21500 whereby a strong 3rd submicro wave occured pushing price to the ~1.382 fib extension occured at ~$15650 before a quick releif rally occured in a likely completed Sub micro 4th wave and price will continue to move down. Price will likely test the ~1.618 fib extension at $14826 to complete a Micro Wave 3 interestingly with great confluence of the larger ~1.618 fib extension degree in the same price area of $14800. From there a larger Micro wave 4 can occur which will be of a likely longer duration before a final Micro wave 5 to complete the MACRO 5 Waves from the ATH in a likely completed A wave. From there Bull can regain alot of losses from the ATH endured in a corrective B wave. Please like and follow for more!!