TOTAL - The market could recover earlier than expected
Dear subscribers
The markets keep fluctuating heavily and investors have a hard time estimating further movements especially
in bitcoin and ethereum.
Since our last update we opened several long positions and continued to persist on our bullish stance.
We sincerely hope that the past announcements helped other investors and empowered them in their trading decisions.
We at Mendenmein-Capaital are very transparent about our trading decisions, therefore we have disclosed a detailed report about our current positions below.
Despite the rising optimism we estimate that the total cryptomarket could suffer another -10% or even an -20% decline.
Our chart shows that the market continuosly managed to establish higher highs and lower lows.
Based on this structure we assume that a great so-called "leading diagonal" dominates the market. A leading diagonal like this one can be observed in wave 1 or rarely in wave a structures.
We recommend beginners to further educate themselves about this structure in the following article.
(Chapter 3.3 Leading diagonal) SOURCE: (elliottwave-forecast...elliott-wave-theory/)
Based on our calculations this decline should push the total marketcap down to atleast 936B which lies at the 0.5 retracement. Investors who don't hold positions already can take advantage of this decline and seize this opportunity to open their first long positions in the green "buyzone".
The market could drop further but shouldn't breach below a valuation of 840B which lies at the 0.786 retracement.
We at Mendenmein Capital believe that the market won't establish new lows. However the valuation shouldn't
break below 767B in any case, the marked red line is of great importance for the bullish structure.
This alternative is marked in alt.Wave (2) and if the price should breach the red line we will post an update on the new chart structures.
If questions should arise don't hesitate to leave a comment below, we will gladly reach out to you!
Written by Benjamin Mendenmein
The markets keep fluctuating heavily and investors have a hard time estimating further movements especially
in bitcoin and ethereum.
Since our last update we opened several long positions and continued to persist on our bullish stance.
We sincerely hope that the past announcements helped other investors and empowered them in their trading decisions.
We at Mendenmein-Capaital are very transparent about our trading decisions, therefore we have disclosed a detailed report about our current positions below.
Despite the rising optimism we estimate that the total cryptomarket could suffer another -10% or even an -20% decline.
Our chart shows that the market continuosly managed to establish higher highs and lower lows.
Based on this structure we assume that a great so-called "leading diagonal" dominates the market. A leading diagonal like this one can be observed in wave 1 or rarely in wave a structures.
We recommend beginners to further educate themselves about this structure in the following article.
(Chapter 3.3 Leading diagonal) SOURCE: (elliottwave-forecast...elliott-wave-theory/)
Based on our calculations this decline should push the total marketcap down to atleast 936B which lies at the 0.5 retracement. Investors who don't hold positions already can take advantage of this decline and seize this opportunity to open their first long positions in the green "buyzone".
The market could drop further but shouldn't breach below a valuation of 840B which lies at the 0.786 retracement.
We at Mendenmein Capital believe that the market won't establish new lows. However the valuation shouldn't
break below 767B in any case, the marked red line is of great importance for the bullish structure.
This alternative is marked in alt.Wave (2) and if the price should breach the red line we will post an update on the new chart structures.
If questions should arise don't hesitate to leave a comment below, we will gladly reach out to you!
Written by Benjamin Mendenmein
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
