Korastiz
Short

BTT Short then Long

BINANCE:BTTUSDT   BitTorrent / TetherUS
I think BTT is about to begin Wave-C of its correction, then will begin its next impulsive moves upward. See comments for additional details.
Comment: I'm thinking we will see around 0.0006 USDT before we make the next impulsive move upwards for BTT, which will happen quite quickly - should be completed the correction within 2 days.
Comment: Big drop should be soon
Comment: Just another possible outcome as this hasn't made the bearish dump I was hoping for quite yet (but it may be still to come). This target would make Wave-C 38% of Wave-A, the minimum required by Wave-C in this type of correction to still be valid. If we bounce and break the channel to the upside, the correction can be assumed to be completed, so if you are going for a lower entry, just be aware this would be a potential bottom and watch for that channel break for an entry into a long.
Comment: I think the above scenario is pretty likely after more thought, we are seeing very apparent bullish divergence on the 5 min now, which might cause an upswing to match how I have the overlay pattern now. I was hoping to get a second shot at some really cheap BTT, but we may be nearing bottom in the coming hours.
Comment: showing the bullish divergence on the 5min (red lines on price chart and the RSI at the bottom).
Comment: Just a quick update, as long as we stay above the channel now we should be bullish
Just wanted to do a quick update on this because I've gotten a few likes on it - I'm on the road so haven't been able to chart as much. I believe we are about to see an extended Wave-5 upon the completion of Wave-4 (which is a triangle) for which we still have D and E legs, however we likely are at the lowest price right now (end of leg C). Minimum price for this should be 161.8% of the total price action from the start of Wave-1 to the top of Wave-3, however this can be higher, but should at least reach $0.0016. I expect this to happen likely in the next day or two before we begin our correction. Wave-5 can be confirmed completed when it crosses the bottom blue trendline (assuming it is drawn correctly - I extrapolated a little bit to what looks like it will be the end of Wave-4), but until then price can continue to rise.

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