Elliott wave analysis of Gold, Silver, Dow Jones, S&P 500 , Nasdaq 100 and Bitcoin | April 15 2024

Summary

In this informative video, host Shaheen dives into the current state of the bull market, focusing on gold and silver, as well as the US Stock markets including the Dow Jones, NASDAQ, and S&P 500. Shaheen is particularly bullish on gold and silver, anticipating significant price increases in the coming months, with gold potentially reaching $3,600 and silver $40. He also discusses the importance of understanding wave patterns and the potential for extended waves in market movements. Shaheen provides insights into specific companies like Newmont Corporation and Matala, and offers a cautious but optimistic outlook for the crypto market, with a focus on Bitcoin and Ethereum. The video concludes with a bearish stance on the Dow Jones and a detailed analysis of various cryptocurrencies, suggesting a deep movement for coins that have created double tops.

Takeaways

• 📈 The speaker is bullish on gold and silver, expecting significant price increases in the coming months.
• 🔍 The market analysis suggests that the price of gold may touch $3,000 per ounce, indicating a strong bullish trend.
• 📊 Silver is also anticipated to reach $40, potentially surpassing several resistance zones, based on the extended wave pattern discussed.
• 💹 The speaker has made investments in specific companies within the gold sector, highlighting a personal bullish stance on these investments.
• 📉 The US stock market, particularly the Dow Jones, is considered to be in a bearish trend, with a potential drop to around 29,000 points.
• 🚫 The support line for Dow Jones has been broken, signaling a continued downward pressure on prices.
• 🤔 The S&P 500 is showing relative strength compared to Dow Jones, but the speaker remains bearish until a new corrective pattern emerges.
• 🔑 The NASDAQ is also in a bearish state, with a broken support line and a completed correctional pattern indicating further price declines.
• 🌐 The cryptocurrency market is viewed as bearish, with Bitcoin potentially targeting a price of $20,000 on the downside.
• ⛓ The speaker suggests that certain cryptocurrencies that formed double tops, like Ethereum, may experience deeper price corrections.
• 📌 Solana is identified as a potentially good pick for the next bullish run in the crypto market, based on its distinct pattern and recent performance.

Q & A

What is the current market sentiment according to the host Shaheen?

Shaheen is bullish on the gold and silver markets, expecting significant price increases in the coming months. However, he is bearish on the US Stock Market, particularly on the Dow Jones, expecting further price declines.

Why does Shaheen believe gold is in a bullish market?

Shaheen cites the significant amount of money printed worldwide during the COVID-19 pandemic and the late reflection of these changes in gold prices as reasons for the bullish sentiment on gold.

What is the potential target price for gold that Shaheen is forecasting?

Shaheen forecasts a potential target price of $3,600 for gold, expecting a price increase of about $600 per ounce in the next two to three months.

What is the significance of the wave pattern that Shaheen discusses in the context of market analysis?

The wave pattern is a part of Elliott Wave Theory, which Shaheen uses to predict market trends. He discusses extended wave patterns, indicating a strong bullish or bearish sentiment depending on the market.

How does Shaheen analyze the potential for silver prices?

Shaheen uses a similar wave analysis for silver, expecting it to touch $40 within a couple of months, indicating an extended wave pattern that suggests a bullish run.

What is Shaheen's stance on the US Stock Market, specifically the Dow Jones?

Shaheen is bearish on the Dow Jones, expecting it to drop further after breaking a significant support line, with a potential target of around 29,000.

What is the potential target for the S&P 500 index according to Shaheen's analysis?

Shaheen's analysis suggests a bearish trend for the S&P 500, with a potential target at the bottom of the previous structure, which is not explicitly stated but implied to be lower than the current levels.

What is Shaheen's outlook for Bitcoin and the broader cryptocurrency market?

Shaheen is bearish on Bitcoin and the cryptocurrency market, expecting a significant drop in prices with Bitcoin potentially targeting $20,000 on the downside.

How does Shaheen suggest traders should approach setting stop losses when trading gold and silver?

Shaheen advises traders to use the previous low as a reference point for setting stop losses, cautioning against setting stop losses too close to the current price to avoid being caught in a potential correction.

What is the importance of labeling waves in market analysis as discussed by Shaheen?

Labeling waves is crucial as it provides an indication of the current market phase and helps in forecasting future price movements. It is a key aspect of Elliott Wave Theory, which Shaheen uses to predict market trends.

What are Shaheen's thoughts on investing in gold mining companies?

Shaheen is bullish on certain gold mining companies, specifically mentioning Newmont Corporation and its recent acquisition. He believes that such companies are poised for higher prices in the near future.

What is Shaheen's strategy for trading in the stock and commodities market?

Shaheen's strategy involves identifying wave patterns and support lines to predict market trends. He emphasizes the importance of being cautious, doing thorough research, and using proper risk management techniques such as setting appropriate stop losses.

Outlines

00:00

📈 Bull Market Analysis and Gold/Silver Market Outlook

Shaheen, the host of the YouTube channel Elliot Principal, discusses the current state of the bull market, addressing concerns about its longevity and the possibility of an all-time high. He emphasizes the bullish nature of the market and the expectation of sharp price movements. Shaheen also touches on geopolitical tensions, specifically between Iran and Israel, and their potential impact on the market. The fundamentals of the stock market are not looking high, and there is a general expectation of a significant correction. Shaheen highlights the importance of gold in the current market, noting its late response to economic changes during the COVID-19 pandemic and predicting a bullish trend for gold and silver. He also discusses the wave patterns in the market and provides specific price predictions for gold, expecting a price increase in the coming months.

05:01

📉 Stock Market Corrections and Silver's Bullish Run

The video script continues with Shaheen focusing on the US Stock markets, including the Dow Jones, NASDAQ, and S&P 500, and their potential for correction. He provides an analysis of the wave patterns, suggesting that the market is in an extended wave, which is a sign of a bullish trend. Shaheen advises viewers on the optimal levels to go long on gold, using specific price points as references. He also discusses the performance of silver, expecting it to reach $40 within a couple of months. Additionally, he mentions the importance of understanding wave patterns and the potential for further extensions in the market. Shaheen also shares his personal investment experiences, including his purchases in Newmont Corporation and his strategy for investing in gold and silver.

10:02

🚀 Matala and Zak Silver Corp Investment Insights

Shaheen expresses his bullish stance on Matala, a royalty company that he believes is trading at a low price despite its potential. He discusses his investment strategy, highlighting his larger investments in Newmont and a smaller, riskier investment in Zak Silver Corp. Shaheen provides an update on Zak's performance, noting its significant increase from 10 cents to almost 27 cents, representing a substantial return on investment. He cautions viewers about the risks associated with newer mining companies and emphasizes the importance of conducting thorough research before investing.

15:04

📉 Bearish Outlook on US Stock Market and Cryptocurrencies

The script shifts to Shaheen's analysis of the US Stock Market, particularly the Dow Jones, and its bearish trend. He outlines the wave structure he expects to see and predicts a drop in the Dow Jones to around 29,000. Shaheen also discusses the S&P 500, noting its relative strength compared to the Dow Jones but still expecting a bearish trend. He then transitions to the cryptocurrency market, specifically Bitcoin, and provides an analysis of its wave patterns. Shaheen predicts a potential bearish target for Bitcoin and discusses the importance of support lines and their breaks as indicators of market direction. He also briefly touches on other cryptocurrencies like Matic and Solana, suggesting that some may be good picks for the next bullish run.

20:08

🔍 Crypto Market Analysis and Target Predictions

Shaheen concludes the video script with an in-depth analysis of the cryptocurrency market, focusing on Ethereum and its potential target price of $480. He examines the swing structure in the market and suggests that cryptocurrencies that have created double tops may experience deep movements. Shaheen identifies Solana as a particularly good pick for the next bullish run and advises using a logarithmic chart for better analysis. He also discusses the lack of revival chances for certain cryptocurrencies like XRP and Dogecoin, suggesting that the bearish market has already begun. Shaheen ends with well wishes for the viewers' trading endeavors.

Keywords

💡Bull Market

A bull market is a condition in which financial markets are rising or are expected to rise. It is characterized by investor optimism and is associated with a period of economic growth. In the video, the host discusses the current state of the bull market, speculating on its longevity and potential for correction, which is highly relevant to the theme of market analysis.

💡Correction

In financial markets, a correction refers to a decline of at least 10% in the price of a stock, bond, commodity, or index. Corrections are a normal part of a market cycle and can be seen as a way for the market to consolidate gains. The host mentions expecting a significant correction in the stock market, which is a key concept in understanding the potential risks and future directions of investments.

💡Gold

Gold is a precious metal that is often viewed as a safe-haven investment during times of economic uncertainty. The host discusses gold's performance, noting that it is in a bullish market and not expecting prices to fall. Gold's role in the video is to illustrate an alternative investment option that the host is bullish on, amidst the discussion on market volatility.

💡Silver

Silver, like gold, is a precious metal that is also traded on financial markets. The host expresses a bullish stance on silver, suggesting that it is expected to reach $40 within a couple of months. Silver is highlighted as another commodity that the host believes will perform well, indicating a broader analysis of market trends beyond stocks.

💡Wave Theory

Wave theory, or Elliott Wave Theory, is a technical analysis method that forecasts future market prices based on the belief that markets move in repetitive cycles. The host uses wave theory to analyze and predict the trajectory of gold, silver, and various stock indices. This concept is central to the video's theme as it provides a framework for the host's market predictions.

💡NASDAQ

NASDAQ is a stock market index that represents the average of shares of technology companies listed on the NASDAQ stock exchange. The host discusses the NASDAQ index in the context of a bearish trend, indicating a potential downturn in technology stocks. This keyword is significant as it represents a specific segment of the market that the host is analyzing.

💡S&P 500

The S&P 500 is a stock market index that measures the performance of 500 large companies listed on stock exchanges in the United States. It is often used as a proxy for the overall U.S. stock market. The host refers to the S&P 500 when discussing broader market trends and its potential for a bearish shift, which is integral to the video's analysis of market conditions.

💡Bear Market

A bear market is a condition in which financial markets are falling or are expected to fall. It is the opposite of a bull market and is characterized by investor pessimism. The host expresses a bearish outlook on certain market segments, including the Dow Jones and the broader crypto market, which is a key part of the video's narrative on market expectations.

💡Bitcoin

Bitcoin is the first and most well-known cryptocurrency, often serving as a benchmark for the cryptocurrency market. The host discusses Bitcoin's price action within the context of a bearish trend, noting potential support levels and the importance of monitoring price breaks. Bitcoin's inclusion in the video underscores the host's examination of various investment avenues, including the digital asset class.

💡Double Top

A double top is a chart pattern in technical analysis that appears in an uptrend and is characterized by two peaks at approximately the same price level, with a moderate trough in between. The host mentions a double top formation in the context of Bitcoin's price, suggesting that it could indicate a potential reversal in the uptrend. This pattern is significant as it is used as a technical signal for predicting future market movements.

💡Stop Loss

A stop loss is an order placed with a broker to sell a security when it reaches a certain price. It is designed to limit an investor's loss on a position. The host advises on the placement of stop loss orders in the context of trading gold and silver, emphasizing the importance of risk management. This concept is crucial for understanding the host's approach to safeguarding against potential market downturns.

Highlights

Elliot principal, hosted by Shaheen, discusses the future of the bull market and its potential extent.

Shaheen is particularly interested in the performance of gold and silver in the current market.

The stock market is at an all-time high, and many anticipate a significant correction.

Shaheen notes that gold is in a bullish market and does not expect prices to fall back.

An analysis of the wave patterns in gold pricing suggests a potential rise to $3,600.

Shaheen identifies an extended wave three in gold pricing, indicating significant price movements.

Silver is also in a bullish run, with Shaheen expecting it to easily touch $40 within a few months.

Shaheen discusses the importance of labeling waves in market analysis for trading decisions.

He provides a trading strategy for gold, suggesting using the previous low as a point to go long.

Shaheen shares his recent purchase in the stock of Newmont Corporation, a significant player in gold mining.

He expresses bullish sentiments on Matala, a royalty company trading at a low price.

Shaheen cautions about the risks involved in investing in newer mining companies.

The US Stock Market, including the Dow Jones, NASDAQ, and S&P 500, is analyzed for bearish trends.

Shaheen predicts a potential drop for the Dow Jones to around 29,000 based on wave structure analysis.

NASDAQ is also expected to see a larger swing pattern completion, indicating a bearish trend.

Cryptocurrencies like Bitcoin and Ethereum are discussed, with Shaheen taking a bearish stance on Bitcoin.

Shaheen identifies potential targets for Ethereum and Solana, suggesting a deep correction for Ethereum.

He notes that some cryptocurrencies, like XRP and Dogecoin, show no chance of revival in the current market.

Transcripts

welcome back to my YouTube channel

Elliot principal I'm your host Shaheen

today we are trying to answer a very

important question and the question I'm

pretty sure a lot of people are thinking

that even after the reversal of Friday

what is expected to happen how far is

the bull market uh that we have already

seen going on how far it is left and are

we actually buying it alltime high and

how bad is it so we trying to go an

answer for that um for those questions

for gold and silver where we look at it

uh not only that we'll also look at the

US Stock markets that includes do Jones

and NASDAQ and S&P 500 so let's start

let me delete this thing so you can

actually get some idea what you're

looking

for the very important thing to

understand is that we are in a bullish

market so you do not when you get into

the purely bullish Market uh you do not

expect all sorts of Correction prices

moves sharply in a very small period of

time not only that along with that uh

today is also news coming that there's a

uh War probability going high between

Iran and um Israel's and its uh Partners

so that is one thing but we had already

seen the wave going on from the bottom

right over here so the fundamentals are

not looking High the stock market is at

alltime high and a lot of people are

expecting to be a huge correction um

including myself not a correction a bare

Market actually in stock market so if

you look gold in that and also you need

to see how much money has been printed

throughout the world uh during covid so

gold was pretty late very very late to

reflect on those changes in the our Eon

economies and I believe this is the time

that we are actually looking into it so

gold is absolutely in a stunning uh

bullish Market uh do not expect the

prices of gold to fall back somewhere

over here not going to happen rather we

will start from over here uh actually we

should start from over here for now just

ignore this because uh this has taken

months the correction has taken months

we're going to focus on this wave

pattern which is right over here wave

one and two and you can look at it that

wave three and four and five that's

where we expecting the potential to be

uh 3,600 and then we shall see some sort

of Correction and then go up further

there so within the five W structure

this round one we have also smaller

waves as well so we have wave one and

two and right now we are looking at an

extended wave hence the very long wave

of wave three we are actually looking

into an extended wave three and within

that extended wave three we're also

looking that even with that extended

wave has third wave extended in it so

it's a lot of um price movement that we

are seeing interesting price movement

I'm absolutely bullish on gold and

silver both of them here's the chart

that we are trying to bring focus on it

an important point I wanted to uh bring

your attention to it is that the

signature sign of an extended wave right

from the bottom the signator sign of the

extend wave here is that if you look at

the duration wave duration the price uh

of wave one is approximately equal to

right over here too and then we are not

going consider over there because we are

considering that a correction so this

top is uh this wavelength is almost

equal to this one and this is uh one of

the most common uh pattern that we can

see in wave extensions so from now this

on we can expect for uh prices of uh the

similar length going on uh we can have

an Exceptions there is a possibility

that we can see wave three which is

going to be w three of three of three is

going to be quite lengthier so we can

keep that in mind there's a possibility

we can actually um keep that in mind so

we need to bring that over here and

there is a possibility that by the time

uh this wave is over we are touching

somewhere around

2,900 just below 3,000 we can

potentially touch 3,000 and we talking

about this this is expected to happen

within next uh couple of months next two

to three months we're expecting almost

uh six to uh $600 $700 price increase

per ounce in the price of gold so this

is uh the reason labeling is very

crucial at this point is give you an

indication um that where we are right

now so I was expecting a pullback but I

did not forecast the pullback I was

waiting for a pullback to happen so I

can actually go uh with the wind right

over here so we are right now

considering it as wave a wave B and wave

C W2 is expected to be completing uh

anywhere soon in this price range and

then we can use the previous low which

is at

2271 to go long all right we do not want

to use any lows further than below that

so the nearest low that we have is 2275

or 2270 is the low to go long in gold

and I'm expecting the next uh next two

weeks are absolutely going to see be uh

bullish before we can actually see some

uh solid correction something like this

all right we have seen almost $100 drop

a lot of people are surprised that okay

what happened on Friday and I'm much

pretty much bought into the very bottom

of um the stocks that I'm interested in

it so it's very important coin we

bullish at this point and the important

point to keep in mind is that wavelength

of this wave and the wavelength of this

wave are almost equal which is a classic

signature for a clear wave three

extension and I'm expecting that we are

going to see even the third wave further

extended as

well being said that we are just about

to go into wave three of three of three

so we can actually see even larger wave

be really careful now silver when I

indicated in my last video that silver

expected to go to around $30 and I got a

comment that okay uh you know you uh

something like saying that you probably

uh moved your chart too quickly and you

were too probably something like on that

that I was probably too bullish on

Silver so once the start things starts

happening things move very sharply so we

need to bring in

an important point and that is that we

approaching an important resistance

right over here so we are approaching a

very important resistance and we have

seen a correction wave then I believe

that we will be able to clearly go

through this and not only this that this

is one and two and this length is almost

equal to the previous length right from

bottom over here once again indicating

there's a high possibility that we are

expect going through an extended wave

and hence the labeling right over here

so so this is wave one Green Wave 1 and

Green Wave two two and right now from

the bottom we are into the extended

third wave and within the third wave

extension we are looking that the third

wave is further seems extended so let's

and the potential Target I'm looking

there is a possibility that uh within

couple of months we are going to see um

silver touching $40 easily easily and if

that does that that will actually

surpass quite a lot of uh resistance

Zone as well so silver is definitely

into the bullish r run we got to keep an

eye on that let's have a look and uh on

4 hourly chart if you cannot see the

pattern let's have a good look on hourly

time frame and the important point I

wanted to make once again is that this

pattern that we considering is an A B

and C pattern all right is not something

that uh that we have not seen before in

the history and a lot of people are

going to scare it and before the next

move goes on um you can definitely use

the previous low to go long which is

2635 to go long we have almost dropped

$1 uh almost like $2 right so almost $2

drop which is amazing uh given the price

of silver we almost touch $30 so keep an

eye is uh it's a correct point you can

go along by using the previous stop loss

keeping at previous low do not put in

case if this is price reversal has

happened then it's not going to go good

putting your stop loss right over here

is not going to do any good be really

careful and we uh use fin IAL uh

intelligence in uh putting how much

money you want to put in gold and silver

couple of things I wanted to indicate um

believe me uh Euro was this is newon

Corporation and newon Corporation was

right over here at the bottom and I made

my purchase and with Lon Tong I made

some more purchase and I was waiting at

the top right over here I was waiting

for the pullback we got a pullback and

at the end of the day I did make another

purchase at the bottom uh um so that's a

very good move uh for newon we're

expecting further higher and high prices

uh new month is very um lacking quite a

bit so very interesting times for new

mon if you're looking for some strong

company that just made a purchase of

about 122 billion um gold mining company

in Australia so pretty amazing for that

and I believe that all of that is going

to come back and there's a possibility

that within next couple of months we can

see prices to back right over here

somewhere around 73 $74 $75 uh next

couple of months so do once prices gets

in there uh then you know it'll look a

little more expensive for people to buy

and I'll keep going buying up so I'm

absolutely bullish all this wave from

the bottom is wave one and we are

considering this as wave two and right

now we are in wave three so we are

definitely neartime Target is somewhere

75

this STP that we have right over here

which is $72

actually another uh thing that I am

bullish on is

matala so I'm bullish on matala given uh

the design of the company is a royalty

company uh so it's it's trading very low

uh the high that it made is

1687 I put a very small amount in it so

it's not a large portion that I put on

it my large portion went into newm

uh another thing this is both of these

are gold I risked a tiny bit of um my

own uh for Zak silver Corp just in case

so that I can have some exposures to Zak

as it's a it's a risky business because

it's a new business compared to to the

so it's I think right now it's uh the

whole companies worth somewhere around

30 million maybe or or maybe 40 million

I'm not exactly sure the figure about it

you can go and do your own research I am

bullish on Zak Tas it almost gave us

100% of the bottom it was 10 u 10 cents

right over here and I'll go on a daily

chart so I can show you uh how much it

has given

us I joined it on I took the St

on on Friday when Friday closed so I

bought it right at the top of this right

over here but you can give just a month

ago or or even less than that we were

trading right over here at 10 cents and

right now 27 cents almost 170% 75%

already uh from the bottom prices if

someone had bottom bottom bottom but

once again be really careful there's a

lot of risk involved in newer companies

uh newer mining companies as well so do

your own research in that and now the

important point that we want to see is

the US Stock stock market uh we have

seen quite a bit of bearish price action

in US Stock Market and we look into it

we'll also look into crypto but first of

all let's have a look at

the

stocks so dojon is doing pretty

interesting

thing this is

NASDAQ let's start from the Doone okay

and then we'll go down so Doone is not

even ready to go on the backside and my

previous analysis that I told you guys

uh which is right over here that this

wave that actually let me go back in

case someone missed

it so what I said is that I'm expecting

the larger pattern is right over here

wave a wave B and wave C and alternative

count is there's quite a possibility

that we have actually seen some other

sort of wave completing right over here

and and we will keep coming down but for

now the wave structure that we are

looking right now is wave a wave B and

wave C that's where we looking at right

now we have clearly seen uh in I

previous totally told that the support

line is very important and we have

clearly seen the break of that support

line so this is a swing that we are

waiting for in dojon at least if the

largest structure identification is

correct in that case we're waiting for

the prices to come further down back to

somewhere around 29,000 right now is at

close to 30 8,000 so we already broke on

the support line clearly giving us an

indication that the top has been made

right over here so this will keep on

pushing the prices lower I'm clearly

bearish on it so just um we not looking

at small time frame Corrections right

now the largest strend stays on bearish

on do Jones uh given this top right over

here I believe that the top has been

formed right over at this

point S&P 500 is showing some strength

it's not dropped as much but we have

clearly uh seen the drop of the uh sorry

we have clearly seen that the support

line support has been clearly uh Broken

Not only just broke it also rechecked as

well so we have this structure that

forming and I wanted to look at into uh

dojon do Jones even didn't complete that

structure it's so bearish so look at

this structure that we are looking at

right this is a definitely a

correctional structure and the

correctional structure is actually uh

retesting that support area so very very

positive sign to go on the bearish side

uh I'll stay bearish till we actually

see another uh corrective pattern and

then we'll give some wave labeling but

the potential Target for S&P 500 is once

again on the bottom of the previous

structure right over here so this is the

structure that we are looking into it

wave a wave B and wc and we look into

the larger patterns to find a

possibility there could could there be

continuation of the pattern there

definitely could be a continuation of

that so the next thing let's have a look

is NASDAQ right that's NASDAQ so let's

have a look on the hourly time frame

chart this is

hourly and I wanted to sorry I wanted to

show the support line

you can clearly see that the support has

been broken and we have also completed a

correctional pattern right over here too

once again giving us an indication that

we have most probably seen the top right

over here and we are looking for a

larger swing uh pattern to complete

which is right over

here this is the pattern that we looking

at right now for Nasdaq before we can go

further um we can actually look into

because before actually we can close

close it we need to look at uh Bitcoin

and see how Bitcoin is doing

so here's the in my previous analysis I

told you guys that we're looking for the

larger pattern to be exactly as we

looking at the market we're looking at

the larger pattern as wave W wave X and

wave Z right over here a lot of people

say are we going back to 10,000 15,000

let's say it doesn't go back to 10,000

the potential Target is 20,000 on the

bearish side for Bitcoin uh we can go on

a 4H hourly time frame and I in my

previous analysis I told you guys that

there's a possibility that we can

actually see truncation happening for

the wave five right over here so

something went wrong definitely either

we can see that we have completed

with five right over here double top and

clear

truncation because we

clearly uh have started the bearish move

already right here so there's a

possibility that we have already seen

the top right over here the prices needs

to break clearly 60,000 point which is

right now at 59,000 59,000 need to break

clearly to give us an indication that we

have seen the top so 15 159,000 breaks

uh that will be a clear uh an um you

know indication that we have seen the

swing top at right over here and we are

going further low so I'm bearish on

crypto uh let's have a look how Matic is

doing I have a quick look on the

chart oh my

God

I look

it dropped 50% of all it already 1.28

to2 so we definitely have seen a b a top

in crypto

okay um we can do it hch from

340 uh to 160 once again a 50% drop we

have seen the top right over here you

can clearly see um an a a b and V one a

two with three a four and a five

structure we looking for the prices to

come further down right over here back

in the same Zone it's coming into the

same zone right over here okay we had an

amazing run um but we're coming down and

it went sharply down my

God my God so maybe we'll see at the

bottom and we'll see some movement like

this all

right Matic we have already seen

so yeah we have seen the top right over

here okay

actually salana is more beautiful we can

clearly see wave a wave B Wave 1 two

wave three W four and wave five a

smaller wave on the downside a

correction deep correction and downside

so going from 210 to uh 120 is quite a

bit of move and I gave this call uh you

guys can go back to my channel when you

are top right over here and I was

criticized for that which is fine which

is fine so here is

go from 4,000 to 3,000 we have already

lost 25% of the Top Value and we can see

not only that we didn't even create a

new high in ethereum so there's a

possibility that we looking for this

swing that swing and another swing down

back around somewhere around

500ish uh Target let's have a quick look

we can actually bring this one step

further and that will be our Target

right over here for

ethereum our Target is

$480

so good

luck here we go now HRA look at the

swing the structure is completely

different all right while Bitcoin almost

created Double Do Double B Double top

with the previous top head and didn't

even go there all right completely

giberish I believe that the the cryptos

that actually created double top will

have some or actually a deep movement

just like ethereum did right almost uh

very second top very close to the top

previous top all right so this tells you

the strength of the crypto so I would

say Solium um you know Solana is pretty

good pick for the next bullish run and

uh we look at fetch which is pretty good

it made a new high as compared to the

previous one now for the crypto you need

to use a logarithmic chart that gives

you much better picture all right so now

this does not look that

absurd okay this gives you an idea how

how low we are

going anyway that's end uh

xrp no chance of

Revival let's have a

look no chance

to coin a lot of people were

yeah uh let me I'm looking

at no chance for Dogecoin there the

possibility maybe it'll pick up on the

next bullish run but for now we have

completed the bull market clear

indication ship

know no chance of reversal

because we have just started the bearish

market in um in the generic market and

look at how these coins already doing

this is already pump and

dump okay this is

horrible mic I loved it not really good

either

yeah madic is not doing really great as

well however madic is doing one thing

special it is looks like it's giving a

completely different

pattern anyway we'll further discuss

maybe a special video on bitcoin we you

good luck with your trading have a good

one and bye-bye