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Wolfe Wave

BTCUSD Long, Knifecatch to 74kSorry for the lack of posts over the past two weeks, been busy w/ life. Anyways, I believe this downtrend is nearly over if we consider this recent correct market structure as a running flat . The only concern with this is that within the b-wave, its ascending triple Elliott wave has an overextended wave Z with a ~1.618 fib level rather than a 1.272 fib as stated on one of the guidelines according to Elliott wave forecast. But ignoring this, it perfectly fits within a running flat corrective wave. As of now, it seems like it'll end near the primary wave 0.382 fib level at ~54k. But we must hold 51k or else the entire market structure shifts bearish heading to sub 30k levels as it is an invalidation level for wave 3. The oscillator below, the BBWP (Bollinger Bands Width Percentile) is reading a close high of volatility at 90% atm. Going at or above 95 followed by a drop crossing under the associated MA (the white line) will signal the start of a consolidation phase . I didn't include it in this chart, but there is also a momentum bullish divergence on the 1 hour that growing has yet to be confirmed with a crossover of the zero line. Key levels: SUPPORT - Primary wave 0.382 fib at 54k - M CPR Pivot at 54k - 3 Month Value Area High at 51k - 3 Month PoC at 47k - Lower Parallel Channel at 53k RESISTANCE - Confluence of multiple monthly value areas at 59k - Monthly Value Area High at 65k - M CPR R1 at 66k - Long term trendline since March ATH at 67-68k - Intermediate wave 5 target at 74k - M CPR R2 at 78k INVALIDATION - Primary wave 3 0.5 fib at 51k There are more levels to look at on the chart if you are interested in long-term plays. I will post an interesting chart soon, so be on the lookout for it.
BITFINEX:BTCUSDLong
by linebands
3
Price expectation on bollinger bands on a weekly timeframe.When we fall below the 20-week moving average, which is the Bollinger middle band, on the weekly timeframe, then it is an undeniable fact that we test the Bollinger lower band. When we examine the areas where the moving averages cross in the weekly timeframe, they show interesting support and resistance points in the past, which seems too strange to be a coincidence. Another striking point is that there is a positive mismatch in the relative power index.
COINBASE:BTCUSDShort
by the6ylal