Elliott Wave TA | regular breakdowns & price targets | No FA, just charts | What's your next trade? No financial advice Non crypto related account: @winzend_
Argentina
Joined March 2023
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$KAS update:
It's nice seeing price stall at an important level. Gives more weight to the bullish scenario.
In either case, I don't think that #Kaspa can go up without at least a little bit more downside. The correction would seem incomplete.
Given that the structure is still not clearly bullish, there still is significant downside risk. But thanks to recent PA, I think that the chance the bottom is in has risen ever so slighty.
As hard as it is to count $BTC, it's actually quite easy to count $ETH imo.
From the top, it should've made clean impulse down. That means that at least one more leg down, giving the correction the typical three wavey look, is expected.
Anybody still thinking #Ethereum is about to die or are we over that?🤔
near:native change of plan:
Previously I thought that with one more high, #NearProtocol will likely finish an impulse and go into a prolonged correction.
I still have that as an alternative but now think that the main scenario is another high first.
Do you agree?🤔
$NEAR consistently is in the top gainers for a while.
I don't think it is done running yet. Should be more upside, although a little bit of a setback it Wave-(iv)🔵 might happen first as well.
Are you interested in more charts on #NearProtocol?🤔
Yo guys, I have to apologize. I have very little time and rushed this post.
It is full of mistakes. In both impulses, the fourth wave cuts into the first wave, thus making it completely invalid.
This is most likely some sort of complex correction which can lead to new highs soon.
I'll link below a 100 word article explaining the new view in detail.
I will give my best to pay more attention to details in the future.
#Bitcoin micro-count:
PA since the top is incredibly hard to count. This is the most likely count, but confidence is low.
Most likely I think we might be looking at the 38,2% at $76k. However, there are many ways this can play out. A double ZigZag like drawn in the chart is the most likely, but Wave-(y)🟣 can be way more complex as well.
Wave-(x)🟣 can even be over already, which would mean new highs next.
Even if we get Wave-(y)🟣 next, we still can't be sure if that's the end of the correction as $BTC can even add a Wave-(z)🟣.
For a more bearish version, we would need to accelerate down and drop to something like $70k with increased impulsivity, but so far, there is no indication for that.
So I personally am just observing here until we get a clear direction.
Since the last two weeks essentially have been sideways only, I tried to explain my way through making sense of the lower timeframes.
Please tell me if I made sense or not.
$CVX did what we discussed in the last post.
It made a new high above the supposed Wave-iii🟠 and even broke the downtrend.
I do think that there is another wave higher missing on the lower timeframes, but overall, #ConvexFinance has fulfilled all requirements to finish a first impulse.
This would mean that a bigger correction in a second wave would be next. The bottom of that correction, potentially a retest of support, would be the safest point to entry.
Are you interested if this drops below $2 again?🤔
$CVX has corrected harshly but has a chance at confirming its bottom.
It currently might be retesting previous resistance to make another push higher to form a first impulse up.
Ideally this comes with a break of the downtrend.
If it drops below support, I think a new low is necessary.
Do you think #ConvexFinance can do it?🤔
Given that investors have evolved and are now so "smart" to wait for corrections instead of buying into a pump, ...
...might it be reasonable to assume that we get up only because people will forever stay sidelined?🤔
#Bitcoin micro-count:
PA since the top is incredibly hard to count. This is the most likely count, but confidence is low.
Most likely I think we might be looking at the 38,2% at $76k. However, there are many ways this can play out. A double ZigZag like drawn in the chart is the most likely, but Wave-(y)🟣 can be way more complex as well.
Wave-(x)🟣 can even be over already, which would mean new highs next.
Even if we get Wave-(y)🟣 next, we still can't be sure if that's the end of the correction as $BTC can even add a Wave-(z)🟣.
For a more bearish version, we would need to accelerate down and drop to something like $70k with increased impulsivity, but so far, there is no indication for that.
So I personally am just observing here until we get a clear direction.
It's now been three weeks since I said that we most likely will see a longer correction now.
Finally, we have some supporting signals for that.
First major coins like ethereum:native have broken structure in a significant way.
Especially once the first impulse down (🟠 path) concludes, it is nearly confirmed that #Ethereum at least needs one more leg down.
Volume and indicators fit this narrative.
The only thing I see which speaks against it is the these coins ($BTC also) sit on top of great support and the current move can easily be classified as a retest of previous resistance.
Where you taken by surprise that crypto keeps dropping or did you expect this move?🤔
