Sunday Notes, May 29

As I wrote in previous post: "Based on the structure of the upward correction from recent lows, I suspect larger correction is not over and we can expect possible breaks below recent bottoms both in BTC and ETH".

Unfortunately that turned to be right (at least with ETH). 

ETH failed to stay above previous low and is more likely to continue down to mentioned lower level targets 1,453/57 and below that to 1,050<>874.

BTC for the moment is still above it's recent low 26,591 but as I said before I'm not impressed with the structure of the move from that low onward. It looks more of a correction than to a reversal, so it's more probable to expect continuation down. A break below 26,591 to confirm that that will open targets at 25931<>24,588 below that to 14,835.

On the flip side "Break above first 52,773 and then 59,891 is the first indication of a possible continuation of the uptrend to new time highs, but just after a break above 68, 958 will be a confirmation".

GOLD

Gold down to 1,663 to possibly 1,405.

CRUDE

down to min 90.55 below that 76.56<>62.57

Break above 135.84 to confirm up to 168. 

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DISCLAIMER:
Trading involves high degree of risk! Past results are not indicative of future returns. idejan assumes no responsibilities for your trading and investment results. All published here is for educational purposes only and should not be construed as investment advice. I tend to obtain Information from sources believed to be reliable, but I do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the information published here is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein.
© Copyright Dejan Iliev 2022

Sunday Notes (14 March 2022)

ETH and BTC about to hit previously stated targets down (updated targets for ETH 1,865.80 to 1,843 and BTC 30,886 to 26,403)

Both finished second legs (up) much lower and earlier then projected, indicating weakness.

Still, a fall below 2,160.60 in ETH and 32,937 in BTC to confirm this.

Break above 3,288.5 in ETH and 43,222 in BTC to confirm previous targets for the finishing of the second leg of the correction down (wave b on the BTC chart image from few posts back).

Strong bounce of the mentioned targets to end this correction down would be a good indication of the most probable continuation of the uptrend in this crypto currencies and a definite break above 4,864.90 in ETH and 68,958 in BTC would be considered a confirmation for the continuation of the uptrend which would be a min 1.6 x the length of the first wave projected from the bottom of the second wave (the end of the correction, possibly in the mentioned targets). For ETH that would be a min. of 9,715 but more probably to 14,566 to 19,418 and for BTC a min. of 137,816 but more probably 206,674 to 275,532.

BUT! Mind that we still need first a solid finish of the correction and confirmation with the breaks of the previous all time tops. 

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DISCLAIMER:
Trading involves high degree of risk! Past results are not indicative of future returns. idejan assumes no responsibilities for your trading and investment results. All published here is for educational purposes only and should not be construed as investment advice. I tend to obtain Information from sources believed to be reliable, but I do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the information published here is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein.
© Copyright Dejan Iliev 2022