Elliott Wave analyst & Trader. Nothing here is financial advice
Joined December 2014
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Meka retweeted
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Was indeed a fakeout on the last push, and we've seen price drift lower since.
Primary count (First two charts):
Tracking this as an ending diagonal to complete the larger wave 2 correction before continuing higher.
Alternate count (Third chart):
Last high was an ugly fifth wave instead of an expanded B wave. Don't like counting the fifth like that on peaking volume, but it's a valid option.
Would likely lead to corrective PA through November.
How price bounces out of this move down will help with further expectation:
Primary - Strong bounce towards new high.
Alternate - Gradually slowed down PA towards the previous high.
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Was indeed a fakeout on the last push, and we've seen price drift lower since.
Primary count (First two charts):
Tracking this as an ending diagonal to complete the larger wave 2 correction before continuing higher.
Alternate count (Third chart):
Last high was an ugly fifth wave instead of an expanded B wave. Don't like counting the fifth like that on peaking volume, but it's a valid option.
Would likely lead to corrective PA through November.
How price bounces out of this move down will help with further expectation:
Primary - Strong bounce towards new high.
Alternate - Gradually slowed down PA towards the previous high.
Previous post;
xitter.cf/Trader_Meka/status/210…
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Been tracking LINK as a completed impulse to the $13.68 high for the last 3 weeks and projecting for the larger correction.
However, price has stayed shallow, and right now it's breaking resistance on growing strength and volume.
This indicates that wave 3 could already be under way, and we could very well see price rip higher from here, as illustrated in the first chart.
Only alternate I have eyes on is that this could be a fakeout and that we see a flush before the next wave higher (second chart), but right now I find that increasingly less likely.
Exciting development either way.
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Been tracking LINK as a completed impulse to the $13.68 high for the last 3 weeks and projecting for the larger correction.
However, price has stayed shallow, and right now it's breaking resistance on growing strength and volume.
This indicates that wave 3 could already be under way, and we could very well see price rip higher from here, as illustrated in the first chart.
Only alternate I have eyes on is that this could be a fakeout and that we see a flush before the next wave higher (second chart), but right now I find that increasingly less likely.
Exciting development either way.
Previous post;
xitter.cf/Trader_Meka/status/209…
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Stayed shallow with a nice bounce yesterday.
Leaning on fifth wave being under way already with a nice target confluence up at $15.60-$15.70, but keep eyes on the larger PoC at $14.40
As mentioned in the previous post; expecting a larger correction after this fifth wave
Meka retweeted
bitcoin:native
🏹 This one’s for ya, right on time.
W4 entry conditions from the last chart? ✅
Clean impulse off the low with 5-wave subdivision? ✅
Into an area of price target confluence? ✅
That's enough for me to call the impluse complete from a trading pov. Now we wait to see if it retraces like a "normal" wave.
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Stayed shallow with a nice bounce yesterday.
Leaning on fifth wave being under way already with a nice target confluence up at $15.60-$15.70, but keep eyes on the larger PoC at $14.40
As mentioned in the previous post; expecting a larger correction after this fifth wave
Previous post;
xitter.cf/Trader_Meka/status/209…
$LINK
Stayed rangebound for the remainder of August, and I'm expecting this wave 4 to finish up with a final sweep down to $10.60-$10 area before the fifth wave up to $14.10-$14.50.
Would expect a larger correction after that, but we'll have to see how it develops over time.
Previous post;
xitter.cf/Trader_Meka/status/209…
$LINK
Wave 3 target is now reached on LINK.
Expecting price to cool off in a smaller range here for the remainder of August before the fifth wave.
Meka retweeted
Overall I'm in agreement with @SenseiTutum, though I pull the extension a little differently, ending up with a wave 3 target around $450.
Talked about this in a private discord just last week
Meka retweeted
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Well Marines you may have missed the bottom, but the door at the recruiter's office is always open.
I'm sharing these targets becasue they are very bullish.
These are not crazy targets.
There are MUCH higher numbers I could show you.
Meka retweeted
Nice to see half a trillion dollars show up in the crypto market in a matter of weeks. The pattern clearly broken and if the red line breaks out I don't think there's any way you can still be skeptical of the move.
Previous post;
xitter.cf/Trader_Meka/status/209…
$LINK
Price poking above the 10.87 high now.
Strong indications of impulsive price action and an overall change of trend.
Previous post;
xitter.cf/Trader_Meka/status/208…
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
Been a slow year and not much worth talking about for LINK, but with the recent signs of strength, this is what I'm tracking here.
Trend line broken with potential impulse in play.
Breaking above $10.87 high would be a strong indication that trend has changed, until then, red count remains as a caution.
Overbought on the daily now as well, which always warrants caution, but if we're seeing a proper trend change, then I expect that to happen more than once before a more significant correction.
Meka retweeted
JUST IN: Chainlink co-founder @SergeyNazarov speaks at the podium during today's technology leaders event at the @WhiteHouse