This are some of the top 15 Altcoins USD paired and grouped in one chart, taking much noise of the market and I think is giving better idea where we are heading...
My other idea:
Thanks
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Tradingview-mod said that description is not enough and need some explanation, I forgot to add ABC correction...
I grouped following pairs in one chart: ETHUSD,XRPUSDT,BCHUSD,EOSUSD,LTCUSD,IOTUSD,NEOUSD,XMRUSD,ETCUSD
On my grouped chart can be seen what I believe to be ABC correction and wave C I think is similar with wave A, but the formation of the second fractal that started on April 2018 it will be longer in time x1.68 than wave A. Retrace of wave C will be at least 73%, wave C it should be bigger and I don`t doubt it will be, just wanted to show the direction of the market based on this chart. Hope this helps
Trade active
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Hi My ALTS indicator is still on track and seems that I may found a correlation based on previous drop at the end of first fractal, so the sum of ETHUSD,XRPUSDT,BCHUSD,EOSUSD,LTCUSD,IOTUSD,NEOUSD,XMRUSD,ETCUSD values may worth together in USD same as the beginning of April, be extra careful next days:
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Hello I you can see my idea is being followed so far and ALTS making lower lows since all time high, my indicator is not showing more old data and I have available only from July 2017 so I can not see everything in chart. I sold all my coins because market looks bad and coins will probably return to 2017 value by 2019, I lost already too much with them:( .
Good luck!
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Update: I have improved the formula as ETHUSD was moving the average too much from the rest of the coins and did some inputs from CoinmarketCap to make a better average of all. And I still see another drop(: the more time I spend looking at the chart the more I get bearish, I see descending triangle broken but the parallel channel not, on whole picture there might be a big H&S but can`t tell because I do not have more historical data. We might have 3 fractals in play, nothing is for sure but I strongly believe that capitulation/accumulation has just begun but I might be wrong and because we broke the big descending triangle correction has finished and H&S is not valid. Thanks
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Hello guys, I find appropriate to update idea on this day as something might change after this date, new candles started printing at 50 and 150 days interval.
I will show you a ""filtered"" formula of some coins, 1 day time frame. In bellow picture you can see that one year ago altcoins broke up from a similar triangle, same pattern that I believe we might be in these days and direction where will break is important as might decide end of bear market or continuation of it. I still believe we will continue bear trend but is not me who decides market direction and is likely to start a bull trend from November.
Chart is upside down as I find it easier to TA. Enjoy it.
Same EXACT pattern has been playing out as last bear market. People overthinking this
CUBYC
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@Weavs844,
Not sure if is same....
I have a 2014 compassion and is not same, not as time and not as target so far...
Here is my old private idea:
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CUBYC
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@CUBYC, for some reason in left chart 2014 can not be seen anymore but in the right if you hit play button you will see that price took other path and 2014 bar patterns is not valid anymore
CUBYC
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@CUBYC, or maybe is just different path but same direction : down
Weavs844
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@CUBYC, The pattern is the exact same, the length of time it took to complete the pattern has been almost exactly half. Here is a close up of the pattern over todays
CUBYC
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@Weavs844, My bad, sorry I just now noticed you are showing me Market cap chart and I was showing you BTC chart, you are right, very good work!
Weavs844
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@CUBYC, Thanks! Yea, I think the BTC pattern is just playing different because its market dominance today is so much different. Market Cap just seems to be following every move... So far at least ;)
CUBYC
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@Weavs844, Is incredible accurate! my bad that I did not noticed this earlier, but this is also invalidates my idea :) I have to reconsider my thoughts now Thanks you
CUBYC
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@Weavs844, Hello friend, you have inspired me and indeed there is a possibility for market to reverse, I have updated my idea if you are interested.
Overcast
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Very nice prediction thus far. Yes, I’m still here creeping. Nice job!