The Market Sentiment (Video Podcast)
Welcome to the quantum hedge fund podcast, my name is Nikola logician.
In today’s episode we are going to discuss price action as we look at our charts for what to be expected next and how our ideas are performing.
Let’s check out our trading view, let’s start off with this Bitcoin chart published on the 4th of November. Looking on the left side, you can see that the price of Bitcoin has been bouncing around this descending channel and is why the price spike to the upside retesting its resistance level.
Now, according to this idea, this move to the upside has been considered as the C wave out of the ABC correction to the upside, this ABC correction would be a B wave of a higher degree, which would then lead the price of Bitcoin and an a B C correction to around six thousand and six hundred dollars.
According to this idea, the price of Bitcoin is now likely, headed to the downside, as the ending wave should develop fully next in line was the ripple chart published on the 6th of November.
On the left side, you can see more of a macro picture in which it is projected that the price of ripple has ended its corrective move, which is considered a B wave and now a five-way move to the upside is expected, which could lead to the price Of ripple up to 25 dollars next, we have published another update for Bitcoin on the 8th of November, and this idea is also a bearish one, as we have pointed out that this opportunity might provide a good short sale now, this horizontal level here at around eight Thousand and four hundred and eighty dollars serves as a pivot point below which the price decrease is more likely and above which the price increase could occur, but in either way after this decline develop develops fully.
We are expecting further uptrend continuing either as a sea wave from the higher degree of this whole structure or a potential fifth wave, as this correction could have been a fourth wave out of this impulsive move to the upside on the right side, you can see that A breakout from the ascending triangle occurred, which is why we have outlined the price progression in a five wave manner, to the downside below the previous low at around six thousand and six hundred and seventy dollars.
Next, in line we have published drawn compared to BTC, and we have pointed out a good buying opportunity for this cryptocurrency. This is more of a long-term perspective and, as you can see from the chart, we are expecting a five wave move to the upside, which would lead the price of tron above this significant resistance level here at around 100 Satoshi.
This would be a B wave according to our count, but nevertheless we are expecting an increase of around 700 percent next. Another macro prediction has been made for ramiz ago, as we have again stated that this could be a long-term good buying opportunity around the current levels.
As our analysis have pointed out that this whole structure from the all-time high on the 13th of September 2017 was the B wave, which is why now we are expecting a 5 wave move to the upside above its all-time high to around 0.02 8 9 Satoshi. From here we might see another downfall, but we are considering this sago a good long-term opportunity for a buy, because the price of home years ago has never been on more lower levels than now.
On the 13th of November, we have published another update for Bitcoin, but in this one we have outlined another correction scenario that could also look likely. This one differs from the rest, as this correction scenario encompasses. This move to the upside is the d-wave from the ABCDE correction from the 26th of June. Now, according to this idea, the price of Bitcoin would default back to the apex of this descending triangle, around eight thousand and three hundred dollars from there.
An increase would be expected, as the C wave should develop fully, but from there we can see another three wave moved to the downside, ending on a higher low around eight thousand and five hundred dollars, which would then be the e wave from this complex correction.
On the 15th of November, we have published another update for Ripple, and this time it was a more of a long term perspective in which we have been anticipating this ABC correction to the upside. To finish around this resistance level, from which another move to the downside would develop, potentially as the fifth wave from this ending diagonal. Now, in this scenario, the price of ripple would default back to its most lowest level since the late 2017 and retest that major support level there, after which an increase, would be expected.
There’s a breakout to the upside from this descending range on the right side, you can see a more of a detailed analysis of this ending wave structure and, according to this analysis, the price of ripple is now likely ending its second wave out of the starting impulse To the upside, we could have seen a breakout potentially from this descending triangle, and now a retest of its resistance level for support is anticipated to complete.
If this occurs, then the price is likely to continue moving to the upside as a breakout has been made with a clear retest of its support level and the support level of the prior low. As the price action developed for on the 19th of November, we have published another update for Bitcoin, in which we stated that the first scenario is starting to look more likely than the second one, which was a bullish one.
Now this occurred because the price of Bitcoin has broken the support level from this descending triangle and continued decreasing further below this major support level at around eight thousand and one hundred dollars. This horizontal level here is a significant one, because the price of Bitcoin has retested. This level numerous times before, spiking to the upside and now because the price started to enter this lower range. We stated that the the more likely scenario is the first one in which we are to see a lower low compared to the prior one.
At around seven thousand and four hundred dollars now, if the price continues decreasing from here, we are expecting it to be in a five way manner, which is why the price of Bitcoin could fall back significantly lower from the current levels. Now, let’s check those ideas which haven’t been published on trading view, looking at the hourly chart of the litecoin, we can see that a breakout has been made like in the case of ripple and Bitcoin from this ascending triangle, particularly after this impulsive five wave moved to the upside now this could mean that we are seeing the correction which started on the 26th of October continuing and that another impulsive move to the upside is yet to come after its completion.
But considering the fact that the price broke out below the $ 52 area. We could be seeing a retest of the prior low, after which an impulsive move to the upside would start. In that case, this would bring this whole structure as a three wave move to the upside, which would then still be corrective in nature, zooming out further on to the 4-hour chart, we concede that from the all-time high at around the 143 dollars the price of light Coin has decreased it’s a most significant, horizontal support level at around 50 dollars now.
This is why a lower low to $ 42 area could be expected as this horizontal level here is the most significant one, because, prior to the upside move, we have seen since the start of the year. The price impulsively broke down below it, and this was a major support zone prior to the breakout.
If we are seeing the start of the higher degree moved to the upside, the price of light coin should continue moving above. It’S currently seen resistance at around $ 65, but this could be another corrective move, which is why we are going to closely monitor the price action in the following period. Looking at the eos chart, we can see that the price of the US has also broke out from this ascending triangle and fall fell back below the significant support level at around 2.86 dollars.
Now also like, in the case of other Kryptos, we could be seeing another corrective move to the upside after completion of this decline. But for a more of a long-term perspective, the price is expected to move to the downside again, and this would be the z-wave from this complex correction count.
Now, looking on the daily chart, we can see that, after the completion of the increase from the start of the year and this yearly high at around 8.53 dollars, we have seen that first, a three wave moved to the downside and then three wave move to the Upside which has been labeled as the second wave X, and is why now this whole structure is expected to and significantly lower from, the current levels as the z-wave should develop fully.
If this is true, then the price of Eos has been completing this B wave here, which could have ended on this high here at around three point: six dollars. If this scenario is correct, then this correction would look something like this and would lead the price of fields back to its yearly low below two dollars. Since the start of the November, we have been bearish on the crypto currency market but in the meantime pointed out.
Some bullish possibilities, as the price of Bitcoin broke out below its key horizontal level, make sure to follow us on trading you to get timely updates on our price expectations also make sure to check out our website thanks for watching. My name is nikole allows each in evolution.