LIVE
Skyrex
@Skyrex
Skyrex.io is designed to make pro level trading effortless and accessible for everyone. Access free SmartTrade terminal and automated AI bot at app.skyrex.io
Following
Followers
Liked
Shared
The ultimate guide on Elliott waves in crypto trading
Most of you have probably heard about Elliott waves and we are sure that you don’t use it in cryptocurrency trading strategy because it’s very complicated and subjective approach. Crypto trading for beginners is very challenging and stressful even without Elliott waves. To be honest when we first time tried to implement it to my crypto trading strategies it was a complete disappointment. We were sure that it does not suit for both trading bot and manual trades. Elliott waves were thrown into a garbage bin for almost two years and we developed our crypto trading algorithm using only linear programming approaches.
While we have been trying to invent the best automated trading bot using only indicators and support and resistance levels, best crypto traders have been successfully using Elliott waves in their analysis. Finally we make a decision to have a deep dive in this popular crypto trading tool and studied in details all available literature. As a result we found that Elliott waves will ruin your trading if you use it without special indicators for confirmation. Now we have 2 years of experience in trading with waves and almost one year ago we implemented them into our algorithmic trading bot. Today we prepared the best ultimate guide ever on Elliott waves using best practices and our unique experience how to use them in developing your own profitable crypto trading strategies. Let’s go!
Why it’s vital to use Elliott waves?
Before answer this question, let me ask another one! Why is important to use map to reach the final destination? I think here is the obvious answer! Talking about Elliott waves it’s almost the same reason. This is the only one approach which gives you a map for a price chart. I think you agree that technical indicators or support and resistance levels will not give you the answer which direction the price will choose. When you have, for example Stochastic Oscillator crossover or RSI oversold area hit you just open long because this is the most common strategy. You buy asset like a blind kitten. We are not criticize this approach, because using proper risk and money management you will earn with almost every strategy, but understanding the Elliott waves concept will dramatically increase your profit even if you combine them with your ordinary strategy. Why it’s happening? The answer is easy, because Elliott waves in the underlying structure of the market. You will be aware when you shall use your signals and when it’s better to skip trade. Now let’s dive into the Elliott waves to understand how to find them on the price chart. In the first part we will give you all needed theory and after that we will show in the real charts how it works.
Elliott waves
In general, Elliott waves concept is pretty easy. All markets are globally moving up with the five waves formations and then show the pullback with at the reactive waves. On the Bitcoin price chart above you can see the most common picture for Elliott waves. We had the bull run which consists of five waves and then was the bear market represented with the ABC correction.
Waves can be divided into two groups: impulsive and reactive. On the bullish phase waves 1, 3 and 5 are impulsive, 2 and 4 reactive. Impulsive waves consists also with five sub waves, while reactive have usually three waves (exception the triangle correction, will be covered later). On the bearish phase we have the opposite situation: waves A and C are impulsive, while wave B is reactive. Now let’s discuss each wave in details.
What will stop every wave in 90% of cases?
Before we will observe the wave it’s very important to understand what are the early signs that current wave is about to be finished. This is really crucial concept because without it almost impossible to use Elliott waves for profitable trading. We need four tools to make sure that our counting is correct. In this article we will not spend to much time for these indicators, we just show you in practice how to use them. These tools are: Awesome Oscillator, Market Facilitation Index (MFI), Fibonacci retracement and extension and Fractals. These four indicators produce five wave’s end conditions.
Divergence with Awesome Oscillator. If you found five sub waves inside any wave and you can see that price set the higher high (or lower low for bearish case), while AO set lower high (or higher low) it’s divergence between wave 3 and 5. This is the most powerful signal that trend is over.
Fractal at the top or bottom. When you see the divergence it’s just the first sign of trend weakness, we need confirmation with the fractal forming at the top or bottom. You can easily find this indicator in TradingView, it will show you all fractals.
MFI squat bar. We will cover MFI in one of the next educational articles, now you just need to know that it has squat state - the last battle between bulls and bears. One of the three top bars will be the squat in 80% of waves end. You can also find this indicator in TradingView.
AO momentum change. Another one confirmation that trend is over is when AO histogram changes color. It’s better to wait three consecutive columns of the other color or when AO will cross back the signal line, 5 period MA of the AO.
Target area. Using Fibonacci extension and retracement we can find the area where the reversal is the most likely. We will show you this targets when talking about waves.
Now you know the five basic rules and we are ready to discuss every wave using this concept.
Wave 1
When the previous trend is over the impulsive wave 1 begins. We can define the wave 1 start only establishing the previous wave end. It could be wave 5, C or E. It does not matter. You just need to apply our five rules: divergence, momentum change, target area, squat bar and fractal. On the chart you can see how in theory wave 1 can be looks like.
Wave 1 always consists of five waves. That’s why we can wait for the same five rules to complete between wave 3 and 5 inside the wave 1. When you anticipate the wave 1 finish you have two options: close trade and re-enter at the wave 2 bottom or hold for the entire cycle.
Wave 2
When wave 1 ends, you will see pull back in wave 2. It’s important to catch wave 2 bottom because wave 3 will bring you a lot of profit. Wave 2 can be classical ABC zigzag, flat or irregular correction. 70% probability it will be ended inside 0.38 and 0.62 Fibonacci retracement range of wave 1, in rare cases it can ends higher or lower. That’s why it’s better t count waves inside wave 2 and do not miss when all five trend killing conditions are met in wave C inside 2.
Wave 3
The most impulsive wave in the entire cycle is obligatory for trading. Here you can have the less risky and the most easy trading. Wave 3 has the great fundamental factors as a price drivers. For example, Bitcoin spot ETF triggered a huge pump recently. Let’s imagine you correctly entered at the wave 2 end. Now we have to define wave 3 targets. The target area using fibonacci extension can be found between 1 and 1.61. This is the most likely case. In crypto it’s very often when waves 3 are extended.
To have the most precise target it’s highly recommended to count waves inside wave 3. Found five waves? Check our favorite trend killing rules to exit a trade at the top. We know it sounds fantastic, but we managed to buy the exact bottom and sell at the top many times, but to be honest, we have never caught the top of the extended wave 3. Need more experience for that.
Wave 4
Wave 4 can be the most complicated because it has a lot of different variants: zigzag, flat, irregular or even triangle. But at the same time in wave 4 we can have the easiest setup. When you predicted wave 3 top, it’s time to setup the target for the wave 4. The most reliable one is between 0.38 and 0.5. This wave is not so rapid as wave 2 and takes much more time (up to 70% of all cycle).
The very important tip here is to look at the price where wave 4 inside wave 3 has been ended. If this level coincides with the 0.38-0.5 zone it can give you much more confidence. We have never made a mistake using this technique. As usual you have to look for the five trend killing rules in wave C inside wave 4 as well.
Another one thing we want to point out. You know the axiom, that wave 4 has not overlap wave 1 top. This rule can be slightly violated and we will show you the case. Don’t pay attention that much to this rule.
Wave 5
Finally we are in wave 5. This is really vital to define it’s top because bear market will follow this wave and can destroy your deposits. The target area for the wave 5 is defined as the distance between wave 1 bottom and wave 3 top, measured from wave 4 bottom. Area between 0.61 of this distance and 1 Fibonacci level is our target. There you have to find trend killing rules as usual but this time for all cycle, not subwaves.
Corrections
The most dangerous place for trading is the correction. From our experience only wave C in zigzag is tradable. You would better to skip corrections and try to catch it’s end. We have four types of corrections, but the most important knowledges is that wave C and E are always consists of five waves. It means you can use the rules how to catch wave 5 end inside these waves.
Zigzag ABC. If wave A consists of 5 waves the most like we will see zigzag. Wait when wave B reach 0.5-0.61 Fibonacci of wave A and be ready to trade in wave C.
Flat. Wave A has 5 waves inside. Waves A, B and C are almost equal to each other.
Irregular. Wave B top is higher that the previous impulsive wave. Wave A consists of 3 waves.
Triangle. Consists of A, B, C, D and E waves. Wave E consists of five waves. Usually occurs inside waves 4 and B of higher degree.
Now you have a theoretical description. It’s time to trade!
While we have been trying to invent the best automated trading bot using only indicators and support and resistance levels, best crypto traders have been successfully using Elliott waves in their analysis. Finally we make a decision to have a deep dive in this popular crypto trading tool and studied in details all available literature. As a result we found that Elliott waves will ruin your trading if you use it without special indicators for confirmation. Now we have 2 years of experience in trading with waves and almost one year ago we implemented them into our algorithmic trading bot. Today we prepared the best ultimate guide ever on Elliott waves using best practices and our unique experience how to use them in developing your own profitable crypto trading strategies. Let’s go!
Why it’s vital to use Elliott waves?
Before answer this question, let me ask another one! Why is important to use map to reach the final destination? I think here is the obvious answer! Talking about Elliott waves it’s almost the same reason. This is the only one approach which gives you a map for a price chart. I think you agree that technical indicators or support and resistance levels will not give you the answer which direction the price will choose. When you have, for example Stochastic Oscillator crossover or RSI oversold area hit you just open long because this is the most common strategy. You buy asset like a blind kitten. We are not criticize this approach, because using proper risk and money management you will earn with almost every strategy, but understanding the Elliott waves concept will dramatically increase your profit even if you combine them with your ordinary strategy. Why it’s happening? The answer is easy, because Elliott waves in the underlying structure of the market. You will be aware when you shall use your signals and when it’s better to skip trade. Now let’s dive into the Elliott waves to understand how to find them on the price chart. In the first part we will give you all needed theory and after that we will show in the real charts how it works.
Elliott waves
In general, Elliott waves concept is pretty easy. All markets are globally moving up with the five waves formations and then show the pullback with at the reactive waves. On the Bitcoin price chart above you can see the most common picture for Elliott waves. We had the bull run which consists of five waves and then was the bear market represented with the ABC correction.
Waves can be divided into two groups: impulsive and reactive. On the bullish phase waves 1, 3 and 5 are impulsive, 2 and 4 reactive. Impulsive waves consists also with five sub waves, while reactive have usually three waves (exception the triangle correction, will be covered later). On the bearish phase we have the opposite situation: waves A and C are impulsive, while wave B is reactive. Now let’s discuss each wave in details.
What will stop every wave in 90% of cases?
Before we will observe the wave it’s very important to understand what are the early signs that current wave is about to be finished. This is really crucial concept because without it almost impossible to use Elliott waves for profitable trading. We need four tools to make sure that our counting is correct. In this article we will not spend to much time for these indicators, we just show you in practice how to use them. These tools are: Awesome Oscillator, Market Facilitation Index (MFI), Fibonacci retracement and extension and Fractals. These four indicators produce five wave’s end conditions.
Divergence with Awesome Oscillator. If you found five sub waves inside any wave and you can see that price set the higher high (or lower low for bearish case), while AO set lower high (or higher low) it’s divergence between wave 3 and 5. This is the most powerful signal that trend is over.
Fractal at the top or bottom. When you see the divergence it’s just the first sign of trend weakness, we need confirmation with the fractal forming at the top or bottom. You can easily find this indicator in TradingView, it will show you all fractals.
MFI squat bar. We will cover MFI in one of the next educational articles, now you just need to know that it has squat state - the last battle between bulls and bears. One of the three top bars will be the squat in 80% of waves end. You can also find this indicator in TradingView.
AO momentum change. Another one confirmation that trend is over is when AO histogram changes color. It’s better to wait three consecutive columns of the other color or when AO will cross back the signal line, 5 period MA of the AO.
Target area. Using Fibonacci extension and retracement we can find the area where the reversal is the most likely. We will show you this targets when talking about waves.
Now you know the five basic rules and we are ready to discuss every wave using this concept.
Wave 1
When the previous trend is over the impulsive wave 1 begins. We can define the wave 1 start only establishing the previous wave end. It could be wave 5, C or E. It does not matter. You just need to apply our five rules: divergence, momentum change, target area, squat bar and fractal. On the chart you can see how in theory wave 1 can be looks like.
Wave 1 always consists of five waves. That’s why we can wait for the same five rules to complete between wave 3 and 5 inside the wave 1. When you anticipate the wave 1 finish you have two options: close trade and re-enter at the wave 2 bottom or hold for the entire cycle.
Wave 2
When wave 1 ends, you will see pull back in wave 2. It’s important to catch wave 2 bottom because wave 3 will bring you a lot of profit. Wave 2 can be classical ABC zigzag, flat or irregular correction. 70% probability it will be ended inside 0.38 and 0.62 Fibonacci retracement range of wave 1, in rare cases it can ends higher or lower. That’s why it’s better t count waves inside wave 2 and do not miss when all five trend killing conditions are met in wave C inside 2.
Wave 3
The most impulsive wave in the entire cycle is obligatory for trading. Here you can have the less risky and the most easy trading. Wave 3 has the great fundamental factors as a price drivers. For example, Bitcoin spot ETF triggered a huge pump recently. Let’s imagine you correctly entered at the wave 2 end. Now we have to define wave 3 targets. The target area using fibonacci extension can be found between 1 and 1.61. This is the most likely case. In crypto it’s very often when waves 3 are extended.
To have the most precise target it’s highly recommended to count waves inside wave 3. Found five waves? Check our favorite trend killing rules to exit a trade at the top. We know it sounds fantastic, but we managed to buy the exact bottom and sell at the top many times, but to be honest, we have never caught the top of the extended wave 3. Need more experience for that.
Wave 4
Wave 4 can be the most complicated because it has a lot of different variants: zigzag, flat, irregular or even triangle. But at the same time in wave 4 we can have the easiest setup. When you predicted wave 3 top, it’s time to setup the target for the wave 4. The most reliable one is between 0.38 and 0.5. This wave is not so rapid as wave 2 and takes much more time (up to 70% of all cycle).
The very important tip here is to look at the price where wave 4 inside wave 3 has been ended. If this level coincides with the 0.38-0.5 zone it can give you much more confidence. We have never made a mistake using this technique. As usual you have to look for the five trend killing rules in wave C inside wave 4 as well.
Another one thing we want to point out. You know the axiom, that wave 4 has not overlap wave 1 top. This rule can be slightly violated and we will show you the case. Don’t pay attention that much to this rule.
Wave 5
Finally we are in wave 5. This is really vital to define it’s top because bear market will follow this wave and can destroy your deposits. The target area for the wave 5 is defined as the distance between wave 1 bottom and wave 3 top, measured from wave 4 bottom. Area between 0.61 of this distance and 1 Fibonacci level is our target. There you have to find trend killing rules as usual but this time for all cycle, not subwaves.
Corrections
The most dangerous place for trading is the correction. From our experience only wave C in zigzag is tradable. You would better to skip corrections and try to catch it’s end. We have four types of corrections, but the most important knowledges is that wave C and E are always consists of five waves. It means you can use the rules how to catch wave 5 end inside these waves.
Zigzag ABC. If wave A consists of 5 waves the most like we will see zigzag. Wait when wave B reach 0.5-0.61 Fibonacci of wave A and be ready to trade in wave C.
Flat. Wave A has 5 waves inside. Waves A, B and C are almost equal to each other.
Irregular. Wave B top is higher that the previous impulsive wave. Wave A consists of 3 waves.
Triangle. Consists of A, B, C, D and E waves. Wave E consists of five waves. Usually occurs inside waves 4 and B of higher degree.
Now you have a theoretical description. It’s time to trade!
LIVE
LIVE
How to use Williams Alligator Indicator in cryptocurrency trading?
You have probably heard about Alligator, indicator which is used by top crypto traders. This powerful tool can increase performance of every cryptocurrency trading strategy and help you to make money on the market. Alligator gives us the precise answer if now price is in impulsive or reactive wave. This knowledge is very useful in building your own crypto trading strategies or even in automated trading bot strategies. Even if you use grid bot strategy Alligator can increase your return on investment because it’s vital to set up grid bot in reactive wave and sideways movements. What is the beast Alligator, let’s have a deep dive into this topic today!
What is Alligator?
Alligator is the best indicator for trend detection. It consist of three moving averages which are called jaw, teeth and lips. Moving averages are frequently used in algorithmic trading bots. They can be exponential, smoothed or weighted depending on particular crypto trading algorithm, but we will use smoothed moving averages (SMA).
Jaw (blue line) - 13 period SMA shifted 8 bars is the future. This is the balance lie of the current time frame, for example 1DTeeth (red line) - 8 period SMA shifted 5 bars in the future. This is balance line of lower degree time frame, for example 4hLips (green line) - 5 period SMA shifted 3 bars in the future. This is balance line of two times lower degree time frame, for example 1h
Please, be careful when you use Alligator on different cryptocurrency trading platforms. Check the correct settings and moving average type. On TradingView it’s correct, don’t worry!
Trend detection with Alligator
The main Alligator’s feature is the detection the trending markets and markets which are about to explode in any side. This powerful tool can enhance your crypto trading algorithm if you use it in the correct way. On the ATOM price chart you can see the example of an Alligator. As you can see it has two conditions: sleeping and hungry.
Sleeping Alligator is when all lines are crossing each other and the price. This period of time can takes up to 80% of time. This is the market cycle stage where you shall avoid any trading and be prepared for the trending marketHungry Alligator is when after a long period of consolidation price chose the trend direction. It’s an impulsive move. Alligator’s mouth is widely opened and do not crosses the price.
It’s very important to distinguish the trending market because only this type of a market gives you opportunity for the fast and huge profit. Otherwise, in the range bounded market you don’t have enough space for price to make profit for you. Most of stop losses occur while Alligator is sleeping. Another one very useful hint for you. If you use Elliott waves analysis. You don’t need to understand in which wave market is now. You just jump into the impulses and avoid corrections.
How to trade with Alligator
Here is the most interesting part. How to start crypto trading using Alligator? Our basic strategy is to wait when the price will create the first fractal above the Alligator’s mouth and place conditional order to buy one tick above the fractal’s top. We will discuss fractals in details next time. Now you have to understand how to use Alligator.
Another one hint from our experience is to use fractals only when Alligator has been sleeping for a long time, like you see on the BTC chart. After long sleep and fractal breakout Bitcoin showed the greatest bull run in the history.
Let’s notice where we should close trade. Almost at the top! When price started showing weakness we don’t need to be in the market anymore. Using this strategy on 1W time frame you can hold assets during entire bull run and sell then before bear market. Fantastic! Isn’t it?
Conclusion
In this article we discussed how you can implement Alligator indicator in your trading routine. This indicator will help you to avoid boring market when you can only lose money and catch every big move. Moreover you can use even sideways market detection if you use cryptocurrency trading bot which earns money in range bounded market. For sure this in not the only one strategy using Alligator. Next time we enhance our approach with other tools and see in details how Alligator improve their profitability. Moreover, soon we will live stream where practice trading with Alligator. See you next time!
Best regards,
Skyrex Team
What is Alligator?
Alligator is the best indicator for trend detection. It consist of three moving averages which are called jaw, teeth and lips. Moving averages are frequently used in algorithmic trading bots. They can be exponential, smoothed or weighted depending on particular crypto trading algorithm, but we will use smoothed moving averages (SMA).
Jaw (blue line) - 13 period SMA shifted 8 bars is the future. This is the balance lie of the current time frame, for example 1DTeeth (red line) - 8 period SMA shifted 5 bars in the future. This is balance line of lower degree time frame, for example 4hLips (green line) - 5 period SMA shifted 3 bars in the future. This is balance line of two times lower degree time frame, for example 1h
Please, be careful when you use Alligator on different cryptocurrency trading platforms. Check the correct settings and moving average type. On TradingView it’s correct, don’t worry!
Trend detection with Alligator
The main Alligator’s feature is the detection the trending markets and markets which are about to explode in any side. This powerful tool can enhance your crypto trading algorithm if you use it in the correct way. On the ATOM price chart you can see the example of an Alligator. As you can see it has two conditions: sleeping and hungry.
Sleeping Alligator is when all lines are crossing each other and the price. This period of time can takes up to 80% of time. This is the market cycle stage where you shall avoid any trading and be prepared for the trending marketHungry Alligator is when after a long period of consolidation price chose the trend direction. It’s an impulsive move. Alligator’s mouth is widely opened and do not crosses the price.
It’s very important to distinguish the trending market because only this type of a market gives you opportunity for the fast and huge profit. Otherwise, in the range bounded market you don’t have enough space for price to make profit for you. Most of stop losses occur while Alligator is sleeping. Another one very useful hint for you. If you use Elliott waves analysis. You don’t need to understand in which wave market is now. You just jump into the impulses and avoid corrections.
How to trade with Alligator
Here is the most interesting part. How to start crypto trading using Alligator? Our basic strategy is to wait when the price will create the first fractal above the Alligator’s mouth and place conditional order to buy one tick above the fractal’s top. We will discuss fractals in details next time. Now you have to understand how to use Alligator.
Another one hint from our experience is to use fractals only when Alligator has been sleeping for a long time, like you see on the BTC chart. After long sleep and fractal breakout Bitcoin showed the greatest bull run in the history.
Let’s notice where we should close trade. Almost at the top! When price started showing weakness we don’t need to be in the market anymore. Using this strategy on 1W time frame you can hold assets during entire bull run and sell then before bear market. Fantastic! Isn’t it?
Conclusion
In this article we discussed how you can implement Alligator indicator in your trading routine. This indicator will help you to avoid boring market when you can only lose money and catch every big move. Moreover you can use even sideways market detection if you use cryptocurrency trading bot which earns money in range bounded market. For sure this in not the only one strategy using Alligator. Next time we enhance our approach with other tools and see in details how Alligator improve their profitability. Moreover, soon we will live stream where practice trading with Alligator. See you next time!
Best regards,
Skyrex Team
LIVE
LIVE
Ultimate Bitcoin analysis. Global overview April 2024
Cryptocurrency trading has a lot of risk due to increased price volatility. Even the best best crypto traders made a lot of mistakes during the correction which has been started in March. Market can show boring sideways for a long time, about 70-80% of all the time. In such periods even top crypto traders and top crypto platforms face with losses. Skyrex AI Bot has the smart system which detects when correction can be started and define the price range where it can safely accumulate assets for the further growth. It did it in March and it’s doing the same right now.
Today we are going to share with you the ultimate Bitcoin analysis, according to our algorithmic trading bot so you can use the right predictions in your trading. Corrections are very dangerous and most of traders are scared and panic selling at the local bottoms. How to avoid it? Let’s discuss today.
Let’s start with the weekly chart. According to our crypto trading strategies first of all we shall check the higher time frame to define the overall picture. On the weekly time frame we can see the entire bull run 2023-2024. Bull run is always an impulse that is why we can count Elliott waves inside it. All impulses consists of 5 waves and our purpose is to count where is can be wave 5 to top to left the market or open a huge short.
The first thing we can do is to understand where is the wave 3 top. Wave 3 corresponds to the highest value on the Awesome Oscillator. We can see now that we have the maximum AO value and there is the only first week which can be closed red on the histogram. Wave 4 of the highest degree cannot be over yet because we shall see the zero line cross under on AO first. Imagine how big can be this correction. It can easily reach 53k. This is 0.38-05 Fibonacci support levels. That’s why it’s vital to take your profit before huge dump.
To avoid the potential loss let’s take a look at the 2D time frame. This time frame is used to calculate the end of the wave 3. Wave 3 is also an impulse which consists of 5 waves. Looking at the Awesome Oscillator we can notice that wave 4 inside wave 3 has not been finished or may be has not be even started and we still in wave 3 in 3. We think that wave 3 in 3 target area is next to the current price therefore we can measure the correction target. 0.38 Fibonacci level is the reliable target for the wave 4. It’s approximately 59k. Moreover, we can see that wave 4 lower degree ended here, which gives us much more reliable target. It looks logically that price shall retest the support before going higher.
By switching to 12h time frame we can have even more precise target for wave 3 in 3. We can see that Awesome Oscillator reached it’s top at $73k and then crossed the zero line. It means that now wave 4 inside wave 3 is in progress. It looks like triangle. That’s why we don’t wait big drop now. This multi time frame cryptocurrency trading strategy allows us to be ready for market reversal before the most traders. Now we expect pump to 77k to finish wave 3 in 3 and then the first big drop.
Let’s summarize all the analysis. First of all we are waiting for the pump to 77k to finish wave 3 in 3, then we will see the wave 4 in 3 which can retest the 59k. Then wave 5 in 3 reach new high. May be it will be 80k+, but the most exact target we will know only when it happen. Then the larger correction in global wave 4 anticipated. It can reach 53k. We think there most of traders will be bearish. That’s why it’s needed to print the last wave 5. In our opinion it will not overcome 100k. Only after that the huge bear market will come to crypto. But it’s not soon, may be in the end of this year.
Best regards,
Skyrex Team
Today we are going to share with you the ultimate Bitcoin analysis, according to our algorithmic trading bot so you can use the right predictions in your trading. Corrections are very dangerous and most of traders are scared and panic selling at the local bottoms. How to avoid it? Let’s discuss today.
Let’s start with the weekly chart. According to our crypto trading strategies first of all we shall check the higher time frame to define the overall picture. On the weekly time frame we can see the entire bull run 2023-2024. Bull run is always an impulse that is why we can count Elliott waves inside it. All impulses consists of 5 waves and our purpose is to count where is can be wave 5 to top to left the market or open a huge short.
The first thing we can do is to understand where is the wave 3 top. Wave 3 corresponds to the highest value on the Awesome Oscillator. We can see now that we have the maximum AO value and there is the only first week which can be closed red on the histogram. Wave 4 of the highest degree cannot be over yet because we shall see the zero line cross under on AO first. Imagine how big can be this correction. It can easily reach 53k. This is 0.38-05 Fibonacci support levels. That’s why it’s vital to take your profit before huge dump.
To avoid the potential loss let’s take a look at the 2D time frame. This time frame is used to calculate the end of the wave 3. Wave 3 is also an impulse which consists of 5 waves. Looking at the Awesome Oscillator we can notice that wave 4 inside wave 3 has not been finished or may be has not be even started and we still in wave 3 in 3. We think that wave 3 in 3 target area is next to the current price therefore we can measure the correction target. 0.38 Fibonacci level is the reliable target for the wave 4. It’s approximately 59k. Moreover, we can see that wave 4 lower degree ended here, which gives us much more reliable target. It looks logically that price shall retest the support before going higher.
By switching to 12h time frame we can have even more precise target for wave 3 in 3. We can see that Awesome Oscillator reached it’s top at $73k and then crossed the zero line. It means that now wave 4 inside wave 3 is in progress. It looks like triangle. That’s why we don’t wait big drop now. This multi time frame cryptocurrency trading strategy allows us to be ready for market reversal before the most traders. Now we expect pump to 77k to finish wave 3 in 3 and then the first big drop.
Let’s summarize all the analysis. First of all we are waiting for the pump to 77k to finish wave 3 in 3, then we will see the wave 4 in 3 which can retest the 59k. Then wave 5 in 3 reach new high. May be it will be 80k+, but the most exact target we will know only when it happen. Then the larger correction in global wave 4 anticipated. It can reach 53k. We think there most of traders will be bearish. That’s why it’s needed to print the last wave 5. In our opinion it will not overcome 100k. Only after that the huge bear market will come to crypto. But it’s not soon, may be in the end of this year.
Best regards,
Skyrex Team
📣Hello, Skyrexians!
🛡March was hard for most of traders, but not for Skyrex AI Bot. In the middle of month bears attacked the market and people panic sell, but AI Bot as usual accumulated trades on the correction and closed at bounce.
💵 $BTC , FLOW, FIL, KSM, IMX, ICP and APT were closed in profit +4.5%, while most of traders lost money on -20-30% correction!
🛡March was hard for most of traders, but not for Skyrex AI Bot. In the middle of month bears attacked the market and people panic sell, but AI Bot as usual accumulated trades on the correction and closed at bounce.
💵 $BTC , FLOW, FIL, KSM, IMX, ICP and APT were closed in profit +4.5%, while most of traders lost money on -20-30% correction!
Massive bull run has started!
In this article you will know what is the targets for $BTC $ETH and $BNB for the bull market and how to earn money with low risk.
The current Bitcoin market cycle has proven to be one of the most intricate to decipher, catching even the best crypto traders off guard. The skepticism persisted until the price surpassed $15,500, with many traders and bloggers only seriously considering the possibility of a bull market after Bitcoin broke $52,000 several days ago. It's understandable, as many crypto trading strategies hinge on trend analysis, and until the price exceeds the all-time high (ATH), the prevailing sentiment often leans toward a bear market. This reliance on historical trends can be a lagging indicator of a trend change, emphasizing the need to stay present in the current market moment and comprehend unfolding events.
In the realm of crypto trading, our head analyst and the developer of our AI trading bot, Ivan, shares insights into Bitcoin and some intriguing altcoins, aiming to enhance your skills in crypto trading.
Bitcoin
The AI trading bot on the Skyrex crypto trading platform made a significant move, shifting to bullish settings when Bitcoin broke the $32,000 mark. From our perspective, this should have marked the end of bearish expectations. Now, let's delve into what to anticipate from Bitcoin in the near future.
Examining the Elliott wave structure for Bitcoin on the monthly time frame, the Awesome oscillator, in tandem with waves, forms a robust trading crypto strategy. The maximum value of the Awesome oscillator aligns with the top of wave 3. Despite a reactive wave 4 retracing to $15,500, it didn't overlap the top of wave 1, preserving the core Elliott waves axiom.
While the price is anticipated to break its all-time high soon, a potential bearish divergence may arise as the new Awesome oscillator top is lower than the previous. The target zone for wave 5 is $79,000, calculated based on the distance between wave 1's bottom and wave 3's top, measured from wave 4's bottom. A bearish reversal bar with divergence is expected in this zone for a potential reversal.
Ethereum
ETH mirrors a similar wave structure to BTC, currently attempting to breach the 0.61 Fibonacci retracement zone. This breakthrough could propel Ethereum to new ATH, with the target for the last wave set at $5,700. Observing the price action when ETH reaches this level will provide further insights.
Binance Coin
Despite the FUD surrounding Binance exchange, BNB emerged as one of the strongest assets in the bear market, concluding its correction earlier than the broader crypto market. The Elliott waves structure here closely resembles that of ETH and BTC, with the final target for wave 5 set at $870.
How to Navigate the Crypto Market Now
While traditional strategies involve buying and holding Bitcoin and altcoins until target prices are reached, the unpredictability of market directions can lead to sudden losses and stress. Alternatively, utilizing an automated trading bot, such as our Skyrex AI crypto trading bot, allows for a hands-free approach.
The Skyrex AI bot operates with a low-risk strategy, trading only on the spot, minimizing the risk of liquidation. As the crypto market enters a period of high volatility, the AI bot strategically accumulates assets during market dips, closing trades on the bounce. This approach avoids the need to predict specific price levels, relying on the fractal structure of prices and potential support levels.
In conclusion, while Bitcoin and Ethereum may seem too expensive for investment, fundamentally strong altcoins like BNB, ADA, ATOM, DOT, among others, could present opportunities for investors. For those seeking a risk-averse approach, the Skyrex AI Bot with its low-risk strategy is positioned to perform well across various market phases. #Bitcoin #Ethereum(ETH) #BNB
The current Bitcoin market cycle has proven to be one of the most intricate to decipher, catching even the best crypto traders off guard. The skepticism persisted until the price surpassed $15,500, with many traders and bloggers only seriously considering the possibility of a bull market after Bitcoin broke $52,000 several days ago. It's understandable, as many crypto trading strategies hinge on trend analysis, and until the price exceeds the all-time high (ATH), the prevailing sentiment often leans toward a bear market. This reliance on historical trends can be a lagging indicator of a trend change, emphasizing the need to stay present in the current market moment and comprehend unfolding events.
In the realm of crypto trading, our head analyst and the developer of our AI trading bot, Ivan, shares insights into Bitcoin and some intriguing altcoins, aiming to enhance your skills in crypto trading.
Bitcoin
The AI trading bot on the Skyrex crypto trading platform made a significant move, shifting to bullish settings when Bitcoin broke the $32,000 mark. From our perspective, this should have marked the end of bearish expectations. Now, let's delve into what to anticipate from Bitcoin in the near future.
Examining the Elliott wave structure for Bitcoin on the monthly time frame, the Awesome oscillator, in tandem with waves, forms a robust trading crypto strategy. The maximum value of the Awesome oscillator aligns with the top of wave 3. Despite a reactive wave 4 retracing to $15,500, it didn't overlap the top of wave 1, preserving the core Elliott waves axiom.
While the price is anticipated to break its all-time high soon, a potential bearish divergence may arise as the new Awesome oscillator top is lower than the previous. The target zone for wave 5 is $79,000, calculated based on the distance between wave 1's bottom and wave 3's top, measured from wave 4's bottom. A bearish reversal bar with divergence is expected in this zone for a potential reversal.
Ethereum
ETH mirrors a similar wave structure to BTC, currently attempting to breach the 0.61 Fibonacci retracement zone. This breakthrough could propel Ethereum to new ATH, with the target for the last wave set at $5,700. Observing the price action when ETH reaches this level will provide further insights.
Binance Coin
Despite the FUD surrounding Binance exchange, BNB emerged as one of the strongest assets in the bear market, concluding its correction earlier than the broader crypto market. The Elliott waves structure here closely resembles that of ETH and BTC, with the final target for wave 5 set at $870.
How to Navigate the Crypto Market Now
While traditional strategies involve buying and holding Bitcoin and altcoins until target prices are reached, the unpredictability of market directions can lead to sudden losses and stress. Alternatively, utilizing an automated trading bot, such as our Skyrex AI crypto trading bot, allows for a hands-free approach.
The Skyrex AI bot operates with a low-risk strategy, trading only on the spot, minimizing the risk of liquidation. As the crypto market enters a period of high volatility, the AI bot strategically accumulates assets during market dips, closing trades on the bounce. This approach avoids the need to predict specific price levels, relying on the fractal structure of prices and potential support levels.
In conclusion, while Bitcoin and Ethereum may seem too expensive for investment, fundamentally strong altcoins like BNB, ADA, ATOM, DOT, among others, could present opportunities for investors. For those seeking a risk-averse approach, the Skyrex AI Bot with its low-risk strategy is positioned to perform well across various market phases. #Bitcoin #Ethereum(ETH) #BNB
LIVE
ICP - last pump is in progress
Hello, Skyrexians!
On ICP we can see the clear 5 waves structure. Wave 4 retraced inside the 0.5 Fibonacci zone and got reversal. Now we can wait for the wave 5. If we will see the divergence with Awesome Oscillator it's gonna be the sign for the huge correction.
Hello, Skyrexians!
On ICP we can see the clear 5 waves structure. Wave 4 retraced inside the 0.5 Fibonacci zone and got reversal. Now we can wait for the wave 5. If we will see the divergence with Awesome Oscillator it's gonna be the sign for the huge correction.
ATOM - when you will finally pump?
Hello, Skyrexians!
Recently I made couple of analysis on ATOM. I told you that correction is almost over. Now this asset is showing us annoying flat. Anyway I still believe that price will reach $18 at least. We can see the confirmed bullish reversal bar. Moreover Awesome Oscillator shows us increasing momentum even on local dump. Today price retraced exactly to 0.61 Fibonacci and found support. If my analysis is right now we are in the best point to buy ATOM.
Hello, Skyrexians!
Recently I made couple of analysis on ATOM. I told you that correction is almost over. Now this asset is showing us annoying flat. Anyway I still believe that price will reach $18 at least. We can see the confirmed bullish reversal bar. Moreover Awesome Oscillator shows us increasing momentum even on local dump. Today price retraced exactly to 0.61 Fibonacci and found support. If my analysis is right now we are in the best point to buy ATOM.
LIVE
$WOO will explode soon [By Ivan | Skyrex]
Hello, Skyrexians!
Let's continue analyze altcoins with the great potential. Today's coin of the day is WOO. It has the clear Elliott wave structure. The asset have already formed waves from 1 to 4. Now price is inside the target area for wave 4 and it's about to go to new highs.
Hello, Skyrexians!
Let's continue analyze altcoins with the great potential. Today's coin of the day is WOO. It has the clear Elliott wave structure. The asset have already formed waves from 1 to 4. Now price is inside the target area for wave 4 and it's about to go to new highs.
ATOM is the best asset now
Hello, dear Skyrexians!
While Bitcoin has been already reversed for the bear market continuation $ATOM has the great change to show some inpulse to the upside. Why I so believe in this asset? The answer is quite simple - Elliott waves structure.
We have already seen 5 EW impulse to the upside and current decrease looks like a correction. 0.61 Fibonacci level in conjunction with the bullish reversal bar is a great sign that correction is over and ATOM can go to the new highs.
Hello, dear Skyrexians!
While Bitcoin has been already reversed for the bear market continuation $ATOM has the great change to show some inpulse to the upside. Why I so believe in this asset? The answer is quite simple - Elliott waves structure.
We have already seen 5 EW impulse to the upside and current decrease looks like a correction. 0.61 Fibonacci level in conjunction with the bullish reversal bar is a great sign that correction is over and ATOM can go to the new highs.
$ETH looks very bad [By Ivan | Skyrex]
Ethereum is the greatest hint that all crypto market still has not finished it's bearish phase. While Bitcoin looks not so bearish ETH is showing weakness. After an impulsive wave A price is forming the wave B as a triangle correction. Maximum target for all this pump is $2900 at 0.5 Fibonacci retracement then I expect the wave C with the target below $500.
Ethereum is the greatest hint that all crypto market still has not finished it's bearish phase. While Bitcoin looks not so bearish ETH is showing weakness. After an impulsive wave A price is forming the wave B as a triangle correction. Maximum target for all this pump is $2900 at 0.5 Fibonacci retracement then I expect the wave C with the target below $500.
Bitcoin - last chance to earn [By Ivan | Skyrex]
Hello, dear friends!
Let's try to predict what we can wait from the $BTC price action in the nearest future. I suppose that it's printing the reactive wave 4 after a strong impulse. The target for this dump is $38500. There we have the safe buy area. After that we will see the higher high in wave 5. If Awesome Oscillator will for bearish divergence there it's gonna be the end of the bull trend and huge correction is imminent.
🚀Follow us and never miss update
Hello, dear friends!
Let's try to predict what we can wait from the $BTC price action in the nearest future. I suppose that it's printing the reactive wave 4 after a strong impulse. The target for this dump is $38500. There we have the safe buy area. After that we will see the higher high in wave 5. If Awesome Oscillator will for bearish divergence there it's gonna be the end of the bull trend and huge correction is imminent.
🚀Follow us and never miss update
Explore Content For You
Sign up now for a chance to earn 100 USDT in rewards!
or
Sign up as an entity
or
Log In
