Considering the lack of retracement for the proposed subwave 4 of the 3, there is the possibility that our big 3 isn't finished yet. If It isn't, the final target for this impulse could be around $0.13 to $0.15 cents.
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The weekly closed yesterday with a pretty nasty bearish candle pattern. On a time frame that high it's a strong signal. It is LTC's 'real' first correction since the start of the run, where ltc did x5 from 20 to $100.
We ended our run on the 100$ mark, a highly psychological...
Well, almost I believe. There is a short to take on the 0.382(Hopefully we'll get there), which is a decent candidate for a 4th. The trendline of the triangle that we broke will act as a huge resistance.
I expect an impulse wave attempt after hitting 6350ish.
I'm very bullish on EOSBTC, which I believe will challenge his all time high around the end of the month, or early july.
We tested with success the 55 ema during the correction of the third wave.
No divergences on the indicators, and we had good volume on the recent spike.
I expect one more push up to completed the third wave of the 5th.
If you are short like me, the closing opportunity to catch the dip comes soon. Confluence of fibonaccis at 7750, and we are hitting historically key support areas.
We are starting to see bullish divergence on the lower time frames for a bounce short term.
XRP has been very technical these days. Wave 3 hit a perfect 2.168 extension and we just reached a perfect 4.618 extension for our wave 5.
I highly doubt that we will go higher before a good correction, we are hitting high resistance areas.
Have you seen this ascending channel? We have been in it for 7 days, with 3 days of beartrap.
I believe that we will keep riding it until we try to breach the big resistance at 8750.
Going long now with a stoploss under the support gives us a very sweet R:R ratio !
- Hidden bearish divergence en the RSI, a set of higher highs while we get lower highs on the chart, and there is also this beautiful rising wedge which should eventually break out downards
- Bearish pennant (56% of going down)
If we do break the pennant upwards, i see a possibility of reaching the big resistance for a 0.618 retracement.
Elliott Wave count:...