📈 For this scenario I want to see the price continue to fluctuate and rise gradually so that Wave C is completed. 🌊 I’m not necessarily looking for a strong immediate upward move; rather, the continuation of the Chop with the formation of local highs and lows is the ideal scenario to complete the structure. 🎯 The goal is to allow Wave C to complete clearly before thinking about the next scenario. 👀 We are monitoring the development of the Price Action and the structure step by step.
📊 Levels and Resistances in the Uptrend We’re watching several important resistance levels higher up. 👀📈 🎯 The closest exciting area for the price right now is: 🟥 8-Hour Order Block (OB) This area will be our first important clue to watch for the price’s reaction, especially if it reaches there with strong momentum. 📌 We monitor upon reaching: Price reaction Momentum strength Rejection or breakout Price Action confirmation The 8H Order Block area is the closest important resistance area in front of the price right now. 🎯📊
Since the end of July, the NEAR coin has been trading within a range 📊 I entered a Long trade after SFP appeared at the bottom of the range 🎯📈 💰 Entry price: 1.594$ ❌ Stop loss (SL): 1.56$ — just below the candle’s tail bottom 📌 The entry is based on the price bouncing from the bottom of the range after liquidity is pulled, while always adhering to risk management. 🌊🔥$NEAR
📈 ETH Update Ethereum looks very good right now on the daily timeframe. 🔥 Finally, we got a clear breakout of the bearish trend that was pressuring the price, and so far ETH is still trading above it. 📊 Therefore, today I’m leaning more toward looking for Long opportunities on ETH 🟢📈 🎯 What I want to see ideally is for the breakout zone to keep acting as support, and then I’ll watch smaller timeframes to look for a clean, confirmed Long entry. 🟢 Currently, the bias is bullish as long as we maintain trading above the breakout zone. ⚠️ As usual, we don’t chase the price — we wait for the better entry and manage risk first. 🌊$ETH
📉 4H TIME FRAME — Main Bearish Scenario This is currently the main bearish scenario. 🌊 Elliott Wave Structure: 🔹 Finished ABC Up from the July bottom 🔹 Wave 1 / A: Expanding Diagonal down 🔹 Wave 2 / B: Corrective upward movement 🔹 Currently: we are working on Wave 3 / C down 🚩 The main issue with this scenario: The Leading Expanding Diagonal in Wave 1/A is extremely rare, which reduces the likelihood of this count. But we don’t rule it out—we just keep in mind that this is the biggest factor weakening the scenario. 🧠 Therefore, we monitor Price Action + Wave Structure to confirm that Wave 3/C has actually started, rather than relying on the count alone. The bearish scenario remains valid, but with lower probability because of the rare expanding diagonal. 📉🌊
📊 4H TIME FRAME — Cheeky Alternative Scenario Here we have an interesting alternative scenario with the Expanding Diagonal, and in this scenario we still consider that we are working on Wave 2 / B. 🎯 Main idea: The price may first take liquidity from most of the Lower Highs that formed since 66.8K, and then afterward it starts to reverse and fall. 📉 🔑 The key in the coming days is to detect a 5-wave upward move to confirm the start of Wave C. Currently, I believe we are still inside Wave 1 of Wave C. ⚠️ IMPORTANT — B Wave The B Wave reached about 0.9 Fibonacci, which makes a Flat formation plausible. But in this case: 🔸 The B Wave must exceed the High of the A Wave at 65.4K for us to consider the Flat complete. ❌ It cannot be considered a Running Flat unless it takes the B High above the A.
📈 4H TIME FRAME — Alternative Bullish Scenario We have another interesting scenario that could develop to target 67K+ 🚀 🌊 Elliott Wave Structure 🔹 W: An upward ZigZag in July 🔹 X: Triangle ↳ We are currently working on Wave D, and we still need Wave E 🔹 Y: An upward ZigZag during August / September 🎯 What we need to activate this scenario: First, we need to see a corrective move down for Wave E. If we can identify this correction over the coming days, we could get a very strong Swing Long opportunity. 📈 🔥 Potential entry methods We have more than one way to approach the trade: 1️⃣ Aggressive: Enter from the expected support area of Wave E. 2️⃣ Safer: Wait for a Trendline Breakout + Confirmation after Wave E completes. 3️⃣ Wait for a 5-wave impulse up from the Wave E area as additional evidence that the upward move is starting. 🛑 Clear Invalidation: $62,550 If this level is broken, this scenario becomes invalid. 🎯 The big idea: Wave E down → Swing Long → Wave Y higher → 67K+ Keep an eye on this scenario, because it could give us one of the cleanest Swing opportunities if the structure completes as we expect. 🧠📊
📊 4H TIME FRAME — The scenario is still in place The scenario is still relevant: we expect a bearish move in the short term, followed by a bullish scenario targeting and reaching 67K. 📉➡️📈 🌊 Elliott Wave Structure 🔹 W: Upside ZigZag in July 🔹 X: WXY Double ZigZag ↳ We are currently working on Wave B from Y 🔹 Y: Upside ZigZag during August / September 🎯 Swing Long area of interest: 61K area If the price reaches the 61K area, we will monitor the structure and confirmations there and update you regarding the Long opportunity. 🧠 Core idea: Short-term bearish → Swing long around 61K → bullish move toward 67K. The scenario is there, but we are waiting for the price to reach the zone and give us confirmation. 📊🎯
: 🔥 Almost everyone I talk to tells me the same thing: “I’m waiting for the 4-year cycle.” 😴 Very nice… So now Retail expects that Bitcoin will wait politely for an additional 52 days, then give them the bottom exactly on October 6, on day 365 😂 As if the market has become room service, and you can order the bottom in advance! 🍽️📉 🧠 That’s a very dangerous way of thinking.
🧩 Potential Larger WXY There is a possibility that we may be dealing with a larger WXY. 🔹 Wave X may form as a Triangle 🔹 After it completes and the Triangle breaks upward, Wave Y may begin moving upward. 👀 This scenario is still a possibility and needs confirmation from the structure and the upcoming movement before relying on it. We are watching for the Triangle break to confirm the start of Wave Y. 📊🎯
🧩 This scenario is still on the table. And honestly, I personally want to see the price drop even more 📉🔥 Because reaching those levels could give us a very strong and special Long. 👀 We keep the scenario open and wait for the price to reach the important levels before making a decision. Sometimes the best trade is the one we patiently wait for. 🎯
🔴 Resistance zones on the upper side We have several Order Blocks at the top that can act as important resistance areas. 📊 👀 These are the zones we will watch when the price reaches them, especially if rejection appears or momentum weakens. 🎯 Order Blocks = potential resistance zones, not confirmation by themselves. We wait for the price to react from them before making any decision. 🧩
📊 ETH/BTC — Update Ethereum is still outperforming Bitcoin in terms of performance. 👀 However, after this outperformance, we may soon see a correction in the form of a B-wave pullback, before the next move becomes clear. ⚠️ Therefore, we are watching the ETH/BTC reaction over the coming period, especially if Ethereum’s relative momentum starts to weaken. 🎯 So far, the outperformance is still in place, but the possibility of a near-term correction should remain in mind.
📊 ADA — Analysis Update Cardano ADA continues developing the expected recovery wave 4 within the larger bearish structure. 🟢 Although the current rebound may extend to higher levels, there is still no confirmation that the larger correction has ended. 🟢 Main scenario: The preferred count still indicates the possibility of Wave 4 continuing toward the resistance zone: 🎯 $0.23 – $0.52 If we see a price rejection from this zone or a downward move forming 5 waves, it will strengthen the likelihood that the bearish Wave 5 is still coming. ⚠️ Alternative scenario: If the price manages to record a bullish 5-wave impulsive move and stay above $0.52, this would lead to a clear improvement in the bullish scenario and increase the probability of a larger recovery. 🎯 The first target in this case would be toward the November 2024 high near: $1.30 📌 Most important resistance levels: 🔹 $0.23 🔹 $0.314 🔹 $0.40 🔹 $0.52 🧩 Summary: ADA is still in the Wave 4 Recovery phase, while the larger structure remains bearish and a new bottom via Wave 5 is preferred. However, if a strong impulsive breakout appears above $0.52$, we will need to reassess the count and the entire scenario. 👀 We’re monitoring the structure and letting the price confirm the correct scenario.