first ew chart. expecting btc dominance consolidation while speculators partially moving funds to alts as a part of the manipulation. once the btc market is ready and expecting it to be somewhere in august or mid september, smart money is about to get back into btc and fuel it to new aths. additionaly ltc could make some gains due to it's price lows, low transaction fees (unlike btc at the moment) and MW related hype. MW is not a huge thing, realising that and functions that xmr does better - it is possible that a transfer of funds from ltc to xmr might happen at some time this year. btc comeback will be fast and unexpected leaving speculators locked in alts. ride safe.
Comment
⋅
i could easily be wrong with timing. btc reversals are often fast. if the 0.5 fibonacci holds, reversal could be coming sooner than later probably within 2 weeks. however, some other charts are showing signs that august could be interestingin means of price action. ride safe.
@Funfunction1, the 0.382-0.5 range could be a short term reversal zone as pointed out in the idea with a purple rectangle. btcusd is slowly showing reversal signs, but on lower timeframes (4). would appreciate your insights on the ew count from idea.