After comparing several ALT's that had not yet reached a new ATH, I concluded that the correction for those crypto's was not over yet.
I then started my TA using Elliott Wave's and fibs to come to the conclusion that the C wave of the correction is now in play and may bring this crypto down to its 236 fib.
The C wave count does not have to be an ABC, it is too early to see which type of wave this can be. In this scenario I am assuming it is an ABC, but it could become more complex.
After this I expect a nice bullish start which may again be very volatile and fast. This should bring us beyond the current ATH.
Timeline is never clear and could be dependent on what BTC does or on black swan events and news.
This is my analysis and personal view, please do your own research. I would love to hear your thoughts on this possible scenario.
I then started my TA using Elliott Wave's and fibs to come to the conclusion that the C wave of the correction is now in play and may bring this crypto down to its 236 fib.
The C wave count does not have to be an ABC, it is too early to see which type of wave this can be. In this scenario I am assuming it is an ABC, but it could become more complex.
After this I expect a nice bullish start which may again be very volatile and fast. This should bring us beyond the current ATH.
Timeline is never clear and could be dependent on what BTC does or on black swan events and news.
This is my analysis and personal view, please do your own research. I would love to hear your thoughts on this possible scenario.