Based on current price action, I re-counted my ABCDE Triangle Idea.
There is a good chance, that Wave-D hasn't been finished yet. In that case, the Bitcoin will re-test $3300-$3200 before goes significantly upward.
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I have been watching this shitcoin for last few weeks. Imo NPXS is getting to be ready to popp.
A) We have strong support between 10-12sat. This support was successfully re-tested a few times!
B) Volume profile in last few weeks.
C) One of the cheapest asset on Binance.
I'm looking to pullback to 15-13sat to open more longs.
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ABC Correction is mostly done and we should make profits soon!
Currently XEM is bouncing significant support zone marked by previous low. Also, near is 1000sat price zone which i consider as a strong psychical support.
If you look in more detail to Poloniex Order book, you will find a lot of buy walls slightly above 1000sat. Imo, good sign of new...
This is what I'm seeing for bitcoin as a last chance for the bulls. $3250 is an area I'm eyeing to complete current corrective Wave-B and then should Bitcoin should take us above $4000 as a motive Wave-C of current ABC correction. Current pattern looks like Ending Diagonal.
Strat is developing ABC-Correction now and it will be followed by the next upward trend. Target 8000sat.
If you want to ride this wave:
a) Buy now (risky - probably retest 3000sat again) and set up stop loss below mentioned price.
b) Wait for 4000sat breakout (more safety).
If our target is 8000sat, aprox. 100%, Does it matter if we buy at 3000sat or...
EOS performing potential impulsive Wave-I, but regarding to drop below 78,6% (is not charted) it's Corrective Impulse Wave.
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After the BTC had been rising a several weeks, finally Correction began. Now, it seems that XEM successfully finished Impulsive Wave-I and Zig-Zag ABC-Correction is developt.
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Based on Elliott Wave Theory...after impulsive Wave-I should be followed by corrective ABC pattern. I expect complex correction now.
Now we have to wait for the retracement, how current correction will works, on which basis it will be possible to estimate further price development.
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XEM is difficult to predict now.
I can see a few possible movements:
a) Impulsive Wave-1 with Wave-1
extension = I expect retrace to 1600sats zone.
b) Triple ZigZag Correction = retracement
to 1900sats zone
So, I'm going to wait how XEM manages
re-test of 1900sats zone.
Then the next price movements will be more clear.
Generally, I don't expect...