Huge retracement on the whole cryptomarket comming?
BTC , ETH, XRP, LTC, DASH, NEO, MONERO, XEM
If people also wanna chart on this chart use the following ticker:
About the charts
The first chart you see is on the logic alghoritme. The second one in normal view.
On the first alghoritme we see a big rising wedge! On the second one you see the beautifull elliot-wave pattern. The 5th wave or 3th wave up reached the 1.618 fibonacci level, the same level als the last crash.
I think there could be an abc-correction wave. With a total retracement of the whole cryptocurrancy market of 35-55%.
Some other information to think about. Correct me when i'm wrong!
-20 june the total marketcap of cryptocurrancies was 115 million.
-16 july the total marketcap of cryptocurrancies 67 million
Trigger: The first bitcoin fork?
-1 september the total marketcap of cryptocurrancies was 174 million.
-15 september the total marketcap of cryptocurrancies was 109 million.
Trigger: China Ban?
The last and upcomming crash>
It should be time for a correction of the total market! I think there is a huge change.
Trigger: I really think the Tether usd hack could trigger a crash.
Last thing I want to say, I try to do an objective view. I believe it will happen. You don't have to agree with me, take your own conclusion!
Total except bitcoin: 54.000.000.000 usd
The bitcoin dominance is 56%. So the total marketcap of the other coins should be 44%.
Total marketcap: 54.000.000.000 / 44% = 122.727.000.000 usd
Bitcoin: 122.727.000.000 - 54.000.000.000 = 68.727.000.000 usd
So the bitcoin should multiplied by 68.727.000.000 / 138.000.000.000 = 50%
The ticker code is now: COINBASE:BTCUSD*16692550*0,5+BITFINEX:ETHUSD*92862174+BITTREX:XRPUSD*38622892459+BITFINEX:LTCUSD*53927233+BITTREX:DASHUSD*7701656+BITTREX:NEOUSD*65000000+BITTREX:XMRUSD*15377976+BITTREX:XEMUSD*8999999999
I made a new and better representive chart:
Are we gonna see a pullback this week?