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IREN is probably going to correct over the next couple weeks, good spot to lock in some profits if you have any here

IWM looks corrective here. Should see Nasdaq and S&P lead the charge over the coming days

We have PCE on Friday which will inevitably come out hot and put pressure on IWM - be prepared for a little shakeout early Friday morning, should be a nice opportunity to add to crypto positions or alternatively sell a small % on Thursday in anticipation for the dip if you would like to

Send it!

I think the bottom is in for CRCL

Huge bull div on the half day (195m) chart

What an absolutely savage wave 2 correction that was!

MSTR 65m level 1 bullish exhaustion signal as it retests the hull band

Very constructive!

The fact it has not made a lower low for a week is very telling for BTC as MSTR is generally a leading indicator...

Eth dominance daily RSI getting compressed in a triangle, could be a big breakout potentially

Let's see

I don't really like this weakness in ETH... could potentially tag 4200 if this is indeed corrective

BTC looking good - if it can push higher from here, highly likely the bottom is in!

EGLD chart request

Pretty big HTF divergence forming

Looks washed out

Really with coins like this you are waiting for the bond yields to collapse and financial conditions to ease - its the only way laggard like this can run - that should happen in September as the carry trade unwinds so if you're hodling you don't have much longer to wait

They ran the stops - re-entered long

Gone long - dont think we get much of a pullback as they force everyone to chase

PENGU EW Count - HTF and LTF analysis

Doesn't get much more bullish than a nested 1-2, 1-2 on HTF... and that's what we have here. Move off the recent lows is clearly impulsive and it barely gave anything back in the subwave 2 retracement. I think it was the only coin not to go lower than it did on Friday over the weekend.

So this is where wave 3 of 3 kicks in which is the parabolic part. This is why I'm 100% focused on PENGU due to the relative strength, and not everything will run hard at this juncture. So my plan is to make as much money as possible on PENGU this week and then use those profits to rotate into the laggards (XVG + CFX) into the September 7th bottom.

So profit taking levels for PENGU...

We will have big psychological resistance at $0.5 & $1 - they also line up nicely with relevant macro Fib levels too. So they will be the levels to de-risk. I don't see this momentum continuing past 30th August based on the astrology, so I will be using a mixture of levels and timing to tak

I think MARA is setting up for a head and shoulders, we should see a bounce next week but because bond yields haven't topped yet, the miners will continue to come under pressure until yields roll over

I will explain bonds in my following post

That was the pullback for BTC into the golden pocket and it looks complete

You can see how most alts are holding up better than BTC now, a clear indication of what part of the cycle we are in

This week's Newsletter is out.

-Bobby-

Bought PENGU here

They will probably not give us pullbacks given what just happened. Will add more on the breakout above 0.0345

PENGU at resistance

Gunna look for a spot to enter long

Ok so having done this analysis a moment ago, I will not be buying XVG over the coming days.

HYG leads and altcoins follow. The system is all about credit!

Laggards should be bought in the September 7th eclipse window, which lines up perfectly with XVG's hurst cycle low

So on this coming dip, we want to be focused on clear leaders like ETH, PENGU, LINK, BNB, XRP, LTC (will also do really well) etc

Personally, I will now just be buying PENGU and CFX - probably splitting it 60/40 in favour of PENGU

VIX 12h BB coiling

There's a nasty VIX spike out there...

Longed FNGD - megacap tech is leading the moves down

Then I will look to short NAIL later on the bearish retest

Confusing Bitcoin Corrective Phase Elliott Wave Alt Counts

All Elliott Wave analysts should have at least one alternative count that is opposite of their current count bias. For example, if you have a clear bullish impulse and you're expecting bullish continuation based on that, you should also have a potential bearish take and count for consideration.

I lean bullish because of how altcoins look, not so much Bitcoin. But a bearish Bitcoin would bring down the entire market.

Given the last post I did on momentum, a more substantial bearish correction is very possible, even if it isn't quite the cycle peak.

The important point of this alternative wave count is wave degree.

This correction might look and feel a lot like the 2022 correction, because it could be another Expanded Flat pattern. However, this would be of a smaller wave degree, so it won't be as long or as violent. It also would point to yet one more bullish wave up, taking Bitcoin well above $150K and possibly even higher.

Note tha

USDT.D flipping resistance into support

Oversold and the hull band has flipped green... Crypto is going much lower!

If this reverses lower and breaks down, I would be willing to reconsider, until then then trend remains