BCH has completed an ABC correction and should start on the next impulse (unless a WXY structure occurs). It could be an opportunity to scalp some same gains for the X wave or load on some BCH before the 3rd wave pump.
According to my Elliott Wave count, Ripple is currently in wave 4 and is forming a descending triangle. A support is formed among the bottom of the triangle and the 0.382 fib, which could provide the bounce for a fifth wave.
LTC is still missing a fifth wave up and finished most of the ABC correction. According to this count, LTC should not go below $52 in the 4th wave correction. A possible entry could be around $53, a bit higher than the 0.618 fib retracement.
An alternate count would to be count this structure as an ABC and to count the current retracement as wave 1, 2, and 3 as ...
ETH is forming a symmetrical triangle that will possibly break out soon. If we see the volume pick up, the pattern will give us an opportunity to open a long/short position depending on which way the triangle breaks. We should be seeing more volatility in the days to come.
Bitcoin has broken out of a falling wedge. According to the textbooks, the price is expected to increase the opening of the wedge, which would bring the price to just under 13k. Right now, the price is resting at the top of the former resistance line and the 0.382 fib.
This could be a day trade set-up. Target for wave 5 is acquired by assuming a 1 to 1 extension of wave 1 (that means wave 5 is the same length as wave 1). Stop is slightly below the top of wave 1 since waves 4 and 1 cannot overlap.
The price action of Bitcoin has broken below the descending triangle, usually a sign that more pain is to come. The price is now retesting the previous support line (now the resistance) of the triangle. It could be another opportunity for the shorts to load up.
If we look at the smaller time frame, we see that the price is forming a bearish rising ...