Greetings, Skyrex Community!In our previous discussion, we briefly alluded to the emergence of a bullish reversal bar in the price, accompanied by an initiation of momentum reversal. Today, it appears that the price surge may already be in progress.Our objective is to gain insight into the potential price structure. An analysis using Elliott Wave theory indicates the completion of waves A and B, with our focus now directed towards capturing the upswing within wave C.

Wave B culminated within the 0.61 Fibonacci retracement level, as we previously noted, characterized by a bullish reversal bar on the 4-hour chart. This marked the initial indication of a reversal. Subsequently, the alteration in momentum served as the second signal, followed by the breakout at the $26,460 level as the third signal.To summarize, we presently possess a high probability scenario of a 5-wave Elliott Wave structure, with the ultimate target set at $28,600, followed by a substantial downturn.🔔Follow us and never miss update

Hello, dear friends!Most of traders now excited why is dumping and to be honest we also have this concern, but at the current moment of time everything is not so ugly as it seems.Looking at the 4h BTCUSDT price chart we can see that wave B is about to be finished. Wave A was impulsive, that's why we expect the same behavior from wave C.

Correction should be finished inside the 0.61 Fibonacci zone with the bullish reversal bar. Now we have a chance to see it today.🔔Smash like button and follow us to never miss update

Hello, everyone!Today a lot of traders making analysis on  because it has suddenly pumped against the entire market. Could this coin be already bottomed or new lows are incoming?Looking at the price structure since ATH we have the clear EW counting. Global ABC correction is represented here as a classical zigzag. Wave C in this case should has 5 waves. Minimal Awesome Oscillator value corresponds to wave 3 and current flat is the annoying wave 4.

Technically bear market could be finished because we have already seen the bullish divergence and lower low, but Bitcoin in my opinion should dump and I cannot understand how altcoins can pump against it. That's why I expect another one lower low in the wave 5.📢Smash like button and follow us to never miss an update

Hello, dear friends!
Last time I have too many analysis updates on $GALA . Some of you could think that I am their ambassador, but it's not true. This asset just in the nice price range to accumulate some coins. You have already seen my global analysis that bottom is almost here.
Today I will show you the local price action analysis. the fact that price set the new lower low means that we are in new bearish impulsive wave. I think this is wave 5. This wave should also consists of 5 waves. It looks like wave 4 has been finished and wave 5 in wave 5 is in progress.

I expect the dump slightly below current low. If Awesome oscillator will show divergence it's gonna be the nice reversal sign.

Hello, dear friends!
Time to make an update for the annoying $GALA which have already took 2 my stop-losses during this dump. Elliott waves analysis is showing us that the bottom is too close and the potential reward is gonna be 10X more than risks, that's why it's ok to get couple of SLs.
Looking at the current price action it looks like dump don't want to be stopped. On the 2D time frame we can see the forming of the green bar, which means that asset can go a little bit lower.

Elliott waves analysis is showing us the potential ending diagonal forming and wave 5 has two potential targets: 1 and 0.61 levels from wave's 1 length. The first target is unreachable because of negative price zone, that's why our target is $0.009. Anyway MFI is decreasing right now, it means that downtrend is weakening everyday.

Hello, community!

Many individuals are currently expressing concerns about the ongoing local price decline, speculating if this rapid decrease is the anticipated correction leading to a $21,000 valuation. We, however, hold a different perspective. Let's delve into the specifics of our analysis.

As previously stated, Bitcoin is presently navigating through wave 2 within the broader context of wave 5. This wave 2 correction is expected to manifest as an ABC zigzag pattern. Wave A has already reached its conclusion, as evidenced by the bearish reversal observed at its peak. The anticipated target for this descent in wave B is the 0.61 Fibonacci retracement level, situated at $26,000.

Chart 1. BTC price.

Our strategy involves vigilantly monitoring this zone for the emergence of a bullish reversal signal, which would signify the initiation of wave C. The price target for wave C is $28,600, a level coinciding with a significant liquidity pool. It is from this juncture that we anticipate the commencement of an impulse wave 3, potentially triggering a price decline.

Greetings, everyone,

We find ourselves currently facing the primary pessimistic scenario in the context of $BTC price dynamics. The digital currency has recently dipped below the $15,000 mark, marking the culmination of the final bearish wave 5. Concurrently, a pivotal juncture looms at approximately $21,000, where the price will determine the course of our trajectory, whether it signals a continuation of the bullish trend or not.
The primary alternative scenario unfolding at present is an ABC zigzag correction within the framework of wave 2 in the nascent bull run. It is our firm belief that wave A within this ABC pattern has been successfully concluded, exhibiting a quintessential Elliott wave structure characterized by five distinct waves. This, in turn, implies that we can anticipate observing a similar five-wave pattern in wave C.

Chart 1. BTC price.

The immediate course of action necessitates patience, as we await the culmination of wave B. This specific wave carries a target zone situated at the 0.61 Fibonacci level, approximately at the $28,500 threshold. It is from this juncture that we will be able to derive measurements for the potential downturn.

Best regards, Skyrex team
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