#BTC LONG-TERM PROJECTION 2019-2025
Using the Elliot wave concept, each impulse wave moves within a channel. I drew a channel connecting the previous minor highs ((1) and (3)) after major wave 1 (I). See how the lower end of the channel supports the current lows of the price. I expect minor wave 5 ((5)) to hit the top of the channel which may fall somewhere...
Since Jan 2018, every 6th of the month starts a new swing high or low. If we follow this pattern, it's possible that the bounce we're expecting is going to happen really soon. And adding up some Elliot Waves, we can see how BTC will go in the coming months.
If we breakout from this weekly channel, EOS is bound to reach higher prices assuming that the first wave is done. First wave retraced to .72fib so it's a good candidate for Wave 1. So now, we just finished sub wave 1 of Wave 2. Expect big things from hereon.
Weekly chart is reversing bearishly. So, we need to expect the bullish momentum to slow down moving forward.
The long, beautiful rise to 1800 was one of the strongest among high market cap coins. So, it needs to retrace to gain a healthy bullish momentum moving forward.
See the chart below for a better view...
Seems like we have finished our Wave 1 with clear 5 waves up. However, many Ellioticians would argue on different counts but if you measure each wave using fib extension, the waves make sense.
Right now, we need to see an upward retracement to confirm if BTC is currently on an ABC correction with 8400 as the lowest target. Although that's too shallow of a Wave 2...
We're undergoing an impulse wave down and it's a huge one. However, we still need to see how the ABC going up would go like. Will it be a flat or a normal ABC? We shall see in the coming hours or days.
I still see 8400 as the current strong support. We may end up with a double bottom or maybe lower to the .618 region. Who knows? Let's see how this goes as data comes up.
BTC is currently ranging before deciding on another big move up or down. If we go above 9k, we may reach 9.6k to 9.7k. If not and go below 8.7k without touching 9k, then the bullish count is invalidated and go to 8.4k which is the floor for the current retracement.
Clearer image here:
If we dont see a green candle in the current week, then we may go lower until mid-April. Weekly chart is about to encounter a death cross when that occurs.
So, the two targets I see respectively are found in the chart above. These are:
5.7k to 6k
4.7k to 5k
The two current candles are looking very bearish. However, if some fundamental events can change that then we may avert this very bearish move.
We have good support zones at the .618 and 1 fib. But I'm still not sure if a bounce may occur there. I do believe that if price reaches that point, some panic selling will be triggered much worse than the previous one we...
Seems like we've completed Wave 3 and correcting to Wave 4. If this count fails, we can see a good support near 9.3k. If this count is followed, we can see reaching 13k or 15k depending on BTC's bullishness.
To reach 9,000 ,which is the next target, BTC needs to stay above 7400. Price action says that we may consolidate for a day or two before another major move.
Indicators show that there's a looming downward pressure. If it goes below 7,400 then we can see the price hover above 5,600.
However, the thrust from the new support at 5,600 was a good indication that...
Seems that the 6100 resistance was too much to handle. If we can't go up from today's BTG fork, then we will go down to somewhere above 4,200. From there, I don't what's going to happen next. It's better to trade the present than the future.
ETP may repeat what NEO did on the first week of August. From $6 to $50.
"RUMOUR: $ETP has been selected as China's official blockchain by PRC, $NEO not far enough advanced. To be announced next week! #MOON"
- from a guy on Twitter
ETHUSD seems to be forming an ascending triangle, which is a bullish chart formation. This consolidation could probably end before or after the start of 2018.
For the short term, ETH could go down to 250 before moving up to test its all time high. Then, once it does the retest, it could hover around that area forming a pennant before breaking out.
1 day chart is bound for a downtrend. 2hr and 4hr are showing bearish divergences especially with Stoch RSI and Godmode.
1st buy zone: 3800 to 3980
2nd buy zone: 3550 to 3700
Remember this is just a dip and not a bearish move. 1 wk chart is still bound for a huge move up so don't panic when Bitcoin goes down.