LITECOIN BITCOIN ETHEREUM Technical Analysis - BREAKOUT COMING SOON to a Chart near you!

LITECOIN BITCOIN ETHEREUM Technical Analysis – BREAKOUT COMING SOON to a Chart near you!



well what's going on YouTube glad you stopped by to my channel this is the gym of all trades channel and every day we look at the crypto market in general Bitcoin litecoin and we've added a theory I'm here lately and I just want to give you a daily call on what's going on this is going to be a very quick video a very quick update so we did have our refer to yesterday's video as far as what I think is happening on the macro I I do believe that we we are we are heading to the upside soon we may have another push to the downside coming in litecoin we are looking at litecoin right now let's just take a peek at like when first ok clear my chart of all my fibs here so what do we have going on here let's see we've got a wave right there we've come down to the 1 276 right here we did not break this low there is a chance that we continue up from here and then we're going to come up to our targets which I have up here in the 115 to 120 range that's what I'm thinking now if we break this if we break this first yellow line here and we come on down and then what we'd be looking at is rather than rather than that let's see it would be this whole thing we'd be looking at coming back down to a double bottom here as long as we don't break this yellow a lot of death now we'd be going up to those targets as well to throw the fibs on if we come all the way down there the fibs are looking like this we're looking at a little bit lower targets 106 to 113 that's if it's corrective its if it's an ABC now if this is a reversal area which again refer to yesterday's video we could be in a reversal in other words the correction could be over this could be a 1 and a 2 and we're heading up guys I mean for for big-time big-time up I want you to understand that's potential it's possibility this could be an ABC so I've got two theories there and so we're gonna have to see what we get once this wave begins to form we'll have to understand it's looking pretty large in my opinion so this this one for this to be a a B you know or a 1 2 & a 3 wave I'm looking at a 3 wave up here at the one that went to 6 1 8 and the 150 range I mean that's that's the kind of 3 wave I'm expecting as far as how big this looks so just saying to you we do have a big move coming to the up side I think that's what I'm that's the way I'm interpreting the market but here's how you're gonna know if I'm wrong or right okay just because I think that doesn't mean it's gonna happen so remember we've got two lines of defense want to remind you about them we've got the you know the this yellow line of death we break that it's not that big of a deal hasn't invalidated it just changes it slightly so if we come if we break this and come down then we're looking at and we're looking at you know we need to reverse in this area we've got some structure right here most likely we would come down and make a double bottom because this is the last structure point before we get down here so if we break down here it's probably gonna come down really fast but chances are it's gonna it's also going to reverse that's what I'm looking at that's what I'm thinking so let's let's wait and see what we have going on there but I have entered a trade already though I don't know that I advise I'm not giving you financial advice I'm just sharing what I've already done for me I got in my computer is lagging here I'm trying to go to the 5-minute chart and it's taken forever here docked it up there we go so I did so I can open this up a little bit there we go I did enter enter the trade on this little pullback right here it may be ill-advised we'll have to see if we if we continue down from there then I'll probably jump out of that trade but again every trade is risky I'm looking at a potential a potential upside it could only be at ABC but I'm thinking we've got what we've got going on right here is a B and I think we're going up for the C so I'm playing the C wave here and I'm playing it up to ninety one fifty one to ninety two fifty and then we'll be wide it looks like ninety one fifty one is going to be the area that we're gonna watch though the top of this wave we have to be careful and I'm aware of it we have to be careful here because top of this wave came to this structure point and kind of reversed so I'll have to wait and see what it does it could continue down and break that line but I went ahead and jumped in because I I'm just kind of I believe my count but I could be wrong and so that's what trading is you know I you you you you look at the you look at the analysis of the technicals here and then you make decisions and you make low-risk decisions so my decisions only about a dollar away so I I know what my loss is going to be it's gonna be about a dollar for a light coin if if if I'm wrong so we'll see what happens okay but that's what I've done I'm looking here 290 151 290 250 but to be honest with you I'm actually looking for a reversal I would like to see that this was just a debacle here of a candle I think it was a shakeout personally it just feels like I'm a market maker maneuver but we may have more market-maker maneuvers to continue down because they need this continue to to buy their positions before they take it up so we'll have to wait and see that's what I'm thinking and in light corn and Bitcoin so we are gonna get a breakout here soon we should have a resolution to this I don't think this is gonna go sideways for four days though they could take it they could do that so just be aware of that but I'm kind of looking to the upside a little bit even if we become up a possibility is this and this is what I'm playing it's a small scalp trade for sure but the possibility is you know it might come up to this area and then and then come on down here double bottom and then go on up finally the last last thing you need to think about when you're thinking about litecoin here is that look sorry I could be completely wrong on this count we're not going up at all but this is going to continue to the downside if it continues to the downside I've got to relook at this count really carefully but but if it goes to the downside we're looking at a $50 range 50 to $60 range of the bottom of this wave and and then then I don't know I know we'll have a bounce there we'll have a bounce between 50 and 60 dollars I think $57 is what I was estimating yesterday in the yesterday's video so we should have a bounce about there if we break this low and then we should have a substantial bounce but whether we go up and then come back down we might be looking at a $30 to $20 low double bottom here if we do that so the implications of us breaking this low now like coming down here are pretty staggering and scary for for litecoin and Bitcoin at least I mean it's good to if you're out you know but again we're gonna have to wait for it to come down you know it's just another you know we want the bull market they keep going right but we got to wait and once again for that thing to continue going down would have to trade a bear market along the way all right let's look at Bitcoin as well let's see we can see there in that chart you can see how are you going sideways here as well now notice notice that just because you this thing kind of looks like this thing right here looked like a a bear flag to people usually they break down like that notice what notice what bitcoin will do to you it kind of looks like a bear flag it should break down but it doesn't it breaks up and then it comes on down so you know here I'm seeing the same kind of deal here I think we're probably gonna get a break to the upside and then down that's a possibility if I can get all that off my screen there we go what else could be a possibility here well if I throw the fibs on this move looks like we've got get the fibs here yeah we came up and kind of tagged the the one to one extension I'm kind of expecting a bigger move than that I'm expecting a little higher move probably up here $9,600 marked around the $9,600 but I kind of believe we're probably gonna be heading up here but we could break down again again my bias is up right now I don't know why I'm so convinced of it except that I just have the chart looks like it I can see down on the chart but I just see more upside and I feel it more in my bones I guess it's kind of a gut so understand that don't trade on my gut guys just be smart about your trades but again everything it's the same thing that I said yesterday nothing's really changed so you can check out yesterday's video as well I'm trying to go quickly so you're not stuck watching a long video today but yeah if we break this low right here then we're looking at this trendline down here is our bottom here for support so if we break if we break this low you see the convergence that these two trend lines right let me just show you these trend lines here get those right on see where these are converging these trend lines well most likely that's a great area of support for us so if we come down break this low we're going to probably end up coming down to this trendline and then up from there this is looking like a very juicy support area and so we would be looking for and into the correction there most likely but not necessarily so be aware of that so that's what we're kind of looking at we're kind of just waiting for a break to the upside of the downside we need a resolution to the sideways move motion right now I do believe this candle was a shakeout I do I just feel that there might be one more pull to the downside we may not break that low and then head on up this is very five lavish so this would be five three five or something like that and then more a you know a B and then C I don't know how that would be counted but we'll have to wait and see how we count that because it's really challenging this is a just a super odd shape but this looks very v wave ish and it measures five waves and it looks for versa list to me but we'll have to wait and see if it is or not market makers are good at concealing what they're doing so a potential is we're looking here at the 11,200 level to the eleven thousand eight hundred level as or if it's a reversal which it could be this could be reversal area we're heading on up to the twelve thousand or even to the fourteen thousand five hundred dollar mark which is up here at the one six one eight of the two six one eight so if it's a reversal you can see how large this this wave is this one to is if it's a one two we'd be looking at something like this one two I mean something like that to be symmetrical I mean that's the wave we're looking at coming up so yeah it's looking pretty nice so that's a possibility coming up so be aware of that that we could be having this as as our reversal wave okay let's look at the theorem as well and the etherium theorem I didn't cover your theory mr. a so let me just take a minute with a theory I'm here because theorem is a pretty beautiful chart and to me oh that's not a theory that's Bitcoin so I'm gonna find aetherium quickly there we go to me ethereal looks like it's made for waves and we've reversed when you just look at this we've got one two three four and then I think we're heading up four five now if that's the case I could be wrong on that okay but the way it looks there's just the way it looks and the way it could be counted it appears to me that this we have four ways if I if I throw the measurements on this guy from the one wave down to the – it's a little dark for my blood there let's see I don't know how that happened there we go there we go sorry about that that's huge okay you can see that this thing came when wikked passed at two six one eight this one's past the one six one eight so there's a couple of ways to count it we could say 1 2 this is 3 has sideways you know just a tiny 4 and a 5 I don't like that I don't like how small that 4 is you can also see that this is a 1 2 3 4 this did not break the the the the area of the one wave over here so this to me is the 4 wave now we had a sideways 2 wave so we had a zigzag four wave so that makes a lot of sense from an Elliot wave perspective and we're going up for five that could be telling the tale for what bitcoin is doing bitcoin this might also be the four wave right here and we're and we're going up and this is the fifth wave we're gonna top out around $1700 in the ball in that ballpark region and then we're gonna be coming down for our major correction a two wave that's a possibility I've been thinking about and kicking around in the back of my mind so be aware of that but this looks very reverse Allah so here's another great way we can invalidate a theorem as well and that is that if we break this trendline we're heading down more and that's that's all there is to it if we break this trendline we could actually be making a fifth wave you know and then we're gonna be heading up and then down again most likely so be aware of that but this looks very ABC ish it came to the one 276 and it bounced this looks very one two one two so that looks if that looks like a one two one two we're heading up four three guys so that's the way I'm thinking right now so I'm kind of looking for the upside and all three of these you know I don't want to apologize but I mean I'd yeah I know I sound so stuck on that and I hate it when I get stuck on an idea because it sometimes I get burned because I get so stuck on an idea but I'm not so stuck I'm not nimble okay so but this is what I believe to be true and it's what I think is happening so yeah we haven't broken this low down here so we should be looking to the upside if it's a reversal wave then we're looking up at 275 if it's not a reversal wave we're looking at 246 to 259 so they're our targets okay I've got to run for Sunday it's today I meet with my church family and you guys have a fantastic Sunday I'll talk to you tonight gonna be having a live stream tonight at 8 o'clock Eastern Time get your charts ready let me know in the comments of this video what charts you'd like to be looking at so I can be preparing but I'm just gonna take requests for charts for a little while and and we'll see who shows up and we'll see you might also have to help me just get the kinks out of the live stream feed I'm not sure of the settings yet so where we get it nice and lag free so it's gonna be kind of a first for me and I haven't had a chance to do that so all right you guys have a fantastic Sunday I hope to see you in the live stream tonight

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