danborovik

danborovik

The 200ema/ma on the 4hr seems to be a good place for price to attempt to bounce. A close below would signal a possible continuation of the downtrend. After a massive rally, the bears will always come out to play.

danborovik

ETH is at a resistance level. I believe this 0.618 level will not be broken on this wave. We should make our way back to $220-$230 to retest support. Seems that all 5 waves are in.

danborovik

I believe that like other cryptos, Litecoin is forming an ending 5th wave diagonal and will retest near $60 before the next wave up. The entire market has made a massive move to the upside and it may be time to rest.

danborovik

If This is the top for Bitcoin then I can see a correction to form the right shoulder before we really rally off into space to ATHs for the entire crypto market.

danborovik

I believe all 5 waves are in for ETH and that a correction back to either the 55ema on the 1D or the 200ema/200ma on the daily will mark the bottom before the next wave up. This is also a previous resistance which was not able to be broken as shown in the chart.

danborovik

All 5 waves appear to be in for Link. I expect a retrace back to around $3.00 before the next move up which I expect to test $4 ranges. This is also the 0.618 confluent zone.

danborovik

As of now, this is what I believe the EW count is broken down (somewhat). I have added in the ending 5th wave diagonal which broke down at the 200ma to the 200 ema.

danborovik

Pretty simple. This has been a major level for years now. If this 9.7-10k level can be broken, then I believe we will truly start the next real market cycle.

danborovik

We are now at a major resistance for BTC. This is the level which held for months while BTC ran up from 14k and began its drop in June. This is a very important level to break. If we are unable to break it then I believe we have completed this EW count and will start another ABC down to 8500-8600 (estimate).

danborovik

Bitcoin looks like it will begin the 2nd wave down to 8.9k around the edge of this channel which is also were the 200MA on the daily chart is. A retest would make a lot of sense to me here. After that, BTC should be ready to launch itself to 10k.

danborovik

Well it appears that bravenewcoin is showing Bitcoin at $0. Not sure what's going on. Would be a great buying opportunity if this was the actual price. Thoughts: My real thoughts on BTC is that we are near a tipping point. Either we smash 10k, or retest 8900 and then smash 10k.

danborovik

Seems like Bitcoin could be headed for 7.9k to finish wave 4 before making it's way back up for a final 5th wave to nail 10k! Of course we could easily have wave failure if we drop below 7.7k. We could find ourselves very bearish if BTC turns south and heads to low 7ks. This would put us on a crash course for 5.5k!

danborovik

Well that was fun! As I posted in my previous Idea here on tradingview, BTC has started it's correction with it's first pit spot at the 4hr 55 EMA! Notice how the 4hr 200 MA is creeping into our retest zone. The 4hr and 1D are my absolute two favorite charts to use together and this is a great example why. For now Bitcoin may take a rest but I will continue to...

danborovik

Bitcoin is in an ending 5th wave diagonal as it is stuck under the 200 daily MA. After a massive 41% move since December 18th (1 full month ago), we seem to be ready for a corrective ABC count back down to retest the neckline of the Head and Shoulders pattern that contributed to the breakout. This is also where the 55 daily EMA is resting currently.

danborovik

If the 200 daily MA is resistance for Bitcoin, then we are likely to drop back to the Head and Shoulders neckline to retest it. I am bullish enough and confident that if this scenario played out, we would not fall below 7.8-8k. If we do, then we would have to question how bullish BTC really is... I will continue to monitor and post updates over the next few days.

danborovik

Very simple analysis here. If we are not able to break the 200 MA on the daily, then we may end the 5 wave and possibly correct down to low 8ks. If we break the 200 MA, $9500 will be target!

danborovik

BTC major accomplishments so far: #1 BTC has made it's way out of the downward channel. #2 BTC broke the 55 weekly ema (which has been resistance for some time now). #3 BTC has held the 0.618 retracement (golden pocket) from 14k move down to low 3ks. #4 BTC has broken a key resistance at $8500. #5 Weekly MACD is crossing Bullish for the first time since mid...

danborovik

Bitcoin is looking to make a 5th wave up to 9k if all conditions are set perfectly. If sentiment changes, then we should be able to break the resistance at $8500. On all timeframes, BTC is showing signs of being Bullish. The major concern is the volume, which we need to pickup in order for us to make the push necessary to the upside.