This pair is a typical example of correlation between BTC and Alt.coins in terms of wave counts and Fib. ratios - providing setups for advance near 0.6182 retracement (i.e. buy the dip for cryptos)
Setting up for a medium-term long at the completion of correction wave b, where it will retrace the whole of previous ED (c), near 0.6182 of wave a
Expecting a flat correction wave (b) to complete near 0.6182 of (a), before setting up (buy the dip) for a wave (c) advance.
Right on entry zone for a short on expanding range, a potential risk/reward >10.
Trading the ranges within the consolidation of the expanding diagonal wave c.
Trend reversed at 16th of March low, expecting a major wave c advance towards the 33.40s. Setup to buy the dip.
It's in the middle of a complex multi-year correction 4 that is correcting the decades-long advance before the year 2000 top. Presently consolidating within a minor wave {4} correction.
A further complication of the irregular flat correction wave b is developing in accumulation mode, setting up for buying the dip near the 5200s
Watch out for a drop in completing the irregular correction b, while anticipating a medium-term buy setup near 114s
Expecting long-term advance while very close to a major bottom line.
Watching the 0.6182 x a level for a medium-term long
It has been a major impulse wave c trending up since December 2015 low. Currently completing the final stages on a wave c down of the minor complex correction (4) Upside potential is very much capped at the 1750s level in the daily time-frame.
Moving down in completing this irregular flat correction b, thus setting stage for advance near the 5000s
Preparing the optimum entry for medium-term long.
Poised for an advanced on a corrective wave v towards 1st target near top of expanding diagonal c (orange) and 2nd target near the 14700s.
Expecting advancement of a major wave c possibly an expanding diagonal eventually heading towards the 18.560s
A medium-term long towards the 325.00s with SL@ invalidation
Revised wave count for a buy on retracement b towards a higher high