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Elliott Wave Analysis For BTCUSD

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Sep 17 2020

Hello traders,

BTCUSD is coming higher, now very close to former swing low at 11150 so bearish impulse can be invalidated soon. That is why we adjusted the wave count, and are now looking for wave X rally, but still same bias; recovery is in three waves so bears are possible but only confirmed when trendline support of current upward channel is broken. If on the other hand, coin will continue to rise and break the trendline resistance with an impulsive recovery away from the low, then we will turn bullish again and look back towards August high.

It this development the most important is close observation of current bounce that should be key to identify whats next for BTC.

BTCUSD, 4h


If you want to learn more about the triangles then consider to take our Elliott Wave school videos

 
 
 

Breakout Of A Triangle On USDMXN

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Sep 15 2020

Hello traders,
In this analysis we will talk about a triangle pattern. Those who are familiar with them, will know that these are one of the most popular patterns. The reason why they are so interesting is because while they are unfolding, momentum is decreasing, volume is low, therefore everyone wants to catch the breakout, because we know that sooner or later every correction comes to an end. And very often moves out of a triangle are sharp and fast!

One of a triangles that we recently recognized was on USDMXN that we covered also back in August in this video https://youtu.be/OTK9dnmVg3I

What happened since then is a breakdown that can still continue towards the target. But if you dig deeper into the Elliott Wave triangles then you will know that a new reversal may show up in a few weeks, as this breakdown can be final leg withing a higher degree of a trend as I describe below.



However, not all of the triangles are easy to be recognized, and that is where Elliott Wave shows its strength. Theory suggests that triangles are formed by five waves, A-B-C-D-E, so if you know the wave principle and you see five sub-waves, then you can already be one step ahead of others because it indicates that potential breakout is coming. Another thing that is very important is that triangles occur within an ongoing uptrend, so you know in which direction the breakout is most likely going to happen.

Also, it is good to know in which position of an Elliott Wave cycle do triangles occur. It can occur in wave 4 of an impulsive structure, wave B, and in wave X. By understanding the Elliott Wave then you know that once a triangle is complete the market is very often going to make a final move within a higher degree of a trend. So, not only that you spot the direction of a breakout but also understand that after that breakout, the market can be in final part of a higher degree structure.

Triangle with Fibonacci application and guidelines.


If you want to learn more about the triangles then consider to take our Elliott Wave school videos

 
 
 

Bitcoin Is Consolidating At 10k Level; Breakdown Coming?

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Sep 02 2020

Hello traders!

The question is: Will bitcoin longs decrease even more and send price through 10k mark?

For my review please check the video below.

 
 

Higher USDNOK in Risk-off Flows

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Sep 08 2020

Hello traders,

Risk-off is visible through some major markets, such as crude oil and the stocks. Will this continue and support USDNOK?

More in the video below,

Grega


 

Is EURUSD Making A Corrective Pullback?

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Sep 02 2020

Hello traders,

EURUSD is bullish for the last few months and is showing very sharp and strong price action. Normally that kind of personality represents an impulse which is a five wave structure. Well, based on latest developments and price data we think that there is room for more upside as this five wave move can still be unfolding; ideally now only slowing down in wave four. Wave four will very often, find a support at the area of at the previous fourth wave which in our case is around 1.1710, so this can be a very nice support after wave C) of 4, right at the trendline support. I will be observing the price action very closely down there for any evidence of a resumption higher, as next fifth wave can offer new opportunities on the long side as long as market trades above 1.14 area.

Trade Well,
Grega

EURUSD, 4h


 

BTCUSD May See A Slow Down Based On Bitcoin Volatility Index

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Aug 24 2020

Hello traders!

Today we will talk about Bitcoin Volatility Index and show you how to understand and read it compared to the BTCUSD chart using the Elliott Wave theory.

BTCUSD is in an impulsive rise from March lows and currently we are observing the final wave 5, mainly because of a rise out of wave 4 triangle, which in Elliott wave theory suggests the final move before we may see a deeper A-B-C corrective reversal.

If we take a look at the BTC Volatility Index chart, we can see it approaching the lows again. When BTC Volatility comes to the lows, we can expect some big action and huge volatility, especially if this is a wave 5 of a bigger Elliott wave ending diagonal pattern.

Considering that BTCUSD can be finishing wave 5 and BTC Volatility Index coming to the lows, we should be aware of a bigger corrective reversal soon, ideally at the end of August and the beginning of September.

Be humble and trade smart.

Bitcoin Historical Volatility Index and BTCUSD, daily

 

VIDEO: Is Bitcoin Ready For A Deeper Pullback

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Aug 20 2020

Hello traders!
We have seen some reversal down from the high in the last few days, so I am wondering if BTCUSD is maybe headed down for a deeper pullback.

Hope you will enjoy the video.

Trade well,

Grega

Summer Sale and get 2 months for the price of 1.





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