TexasWestCapital

Is #PEPE still headed for the moon or is the rally done? I don't trade this coin, but here is what I was talking about on this morning's Wolf of All Streets Podcast with a bit more information. My count suggests that wave (iii) of ((iii)) terminated at the current swing high. Since, then wave (iv) has been printing what appears to be a flat correction. If so, then it is likely complete at the swing low. However, further decline has targets of the 38.2% and 50% retracement levels, respectively. The targets are based on the completion of wave (iv) and are denoted by the red arrows. It's possible that a double top formed, which would give us a pattern target of the 50% retracement area at the hourly pivot. But we need to see further breakdown to confirm that likelihood. Failure to do so will invalidate the pattern. So, if price rallies, instead, then an impulsive breakout above the descending purple resistance will signal that wave (iv) is likely complete. Further breakout above the wave b extreme will add confidence to the count. And wave (v) of ((iii)) has one of the red arrow targets depending on which of the pullback targets is hit. Basically, I'm looking for an impulsive breakout above the purple line to signal that wave (iv) is likely complete, no matter which pullback target is hit. Further breakout above wave b will signal that wave (v) of ((iii)) is likely in progress to one of the aforementioned targets.

Bitcoin Wyckoff and Elliott Wave This is the structure I have been discussing on Twitter, YouTube, and elsewhere since the June 2022 swing low. Wyckoff methodology indicates that it is likely accumulation. The Elliott Wave count may or may not be correct locally. We want to see an impulsive breakout above that ascending red dashed resistance to signal that the wave ((ii)) flat structure may be complete, but a breakout above wave (b) is required to add confidence to that count. Further breakdown has a target of the daily pivot. If the count is correct, then wave ((iii)) of 3 has a minimum expected target of $42350 from here. The Daily RSI is printing hidden bullish divergence at the moment, but we need confirmation that it is complete. The daily Stoch RSI has reset into oversold, so a breakout of oversold would add more support to the idea that wave ((ii)) is complete. We can also note the red parabola. While price remains above that curved line we should continue to expect higher, overall, rather than a larger pullback. Let's see if we can get that rally from somewhere around this area.

There is a striking similarity between the 2018 and 2022 bear markets in Bitcoin as illustrated on this chart. This is the same thing I have been discussing for months now on Twitter and YouTube while so many other large influencer accounts were screaming that it HAD to go below $12K. While there is no guarantee that the low is in yet (there are no guarantees in trading except that you WILL lose money at times), there are a number of signals that it very well may be. This is just one of them. Break out impulsively above the weekly pivot and there should be no looking back.

PYR/USDT D1 chart (10/18/2022) Can we get 400% in the rally? Based on the height of the large descending channel , an impulsive breakout above that channel's resistance should yield a target of ~19.24 above the point of breakout. That would be just more than 400%. Let's see if we can get this.

Bitcoin's 12-year history of weekly oversold RSI For what it's worth, every time Bitcoin's weekly RSI has reached oversold it has marked the bottom of the bear market and ushered in a new bull market. The weekly RSI has only reached oversold twice before - January 2015 and December 2018. So, it's a rare occurrence signaling that either the cycle top is in this time, or we've still got a new ATH coming. Do with this info what you wish. The orange line is the weekly 200 MA.

Weekly Bitcoin chart Here are a few of the things I am watching on the weekly TF. Of course, we need to see how the weekly closes, but those waiting for $20K may have been front-run. We need to see a breakout above ~32000 and then ~38000. Further downside may see targets of 22K and then 20K.

Bitcoin - What if I told you something like this is possible? There is an expanding symmetrical triangle (megaphone pattern) in Elliott Wave Theory. I'm not saying this is definitely happening, but if we see an impulsive reversal after dropping a bit lower, below wave ((a)) support, then it becomes a possibility. This is the same fourth wave pattern we saw in the Dow where the March 2020 drop was wave E of the triangle. It's always good to know and understand the possibilities. As I have mentioned numerous times before, it's also possible that wave 5 ended at the ATH. It's also possible that the ATH is only wave 3 and the current three wave pullback is wave 4. This is just one possible pattern that could play out. There are often multiple possibilities when price prints a range.

LUNA/USDT Effort v. Result Bottoms are usually resultant from increased effort and less result. The current candle suggests that a bottom may be forming for a bounce at the least, if not a full reversal. We will need to see how the daily closes.

BTC/USD Triangle in play? variation #2 As I've mentioned on my stream, a breakdown below the current wave C low at 32933.33 just invalidates that particular triangle. There is the possibility that another triangle could be printing in that scenario as shown in this chart. Wave C could still be in progress. However, it would need to reverse prior to the wave A support at 28800. Breaking down below that level will invalidate all the triangle scenarios. This only becomes possible if price breaks down below 32933.33.

ETH/USD Triangle in play? Wyckoff and Elliott Wave analysis signals we may be seeing a triangle completing. This is the chart I've been discussing for quite a while in various public live streams on YouTube and Twitter .