Too man long term resistance lines converging here for something not to happen sometime soon. $IOC and $ION also just had major pumps. This may be dumb logic, but I feel like there's a lot of dumb money in the market right now.
$GBYTE bull pennant closing in. IMO it's most likely at the "D" point of the horizontal triangle, so don't be surprised if you enter here if we see a minor dip back to the "E" point before the breakout. I'm always a fan of "E" for entry, though. Byteballs is also at less than 20% of it's all time high in terms of Bitcoin, so I see it having plenty of room to run ...
RLC is hitting Bitfinex today. This will allow significantly more volume to enter into the market. There should be a significant pump that brings us to our "D" point. After that, I expect a sell off and brief market cool down bringing us to our "E" point. I'm a fan of "E" for entry. In my opinion, this has potential to follow what $SNT (Status Network Token) did a ...
Bitcoin is obviously in the middle of a major correction. I see this following the "Zigzag Correction" pattern which is a classic Elliot Wave trend. If this is correct, we should see a sharp reversal leading to an eventual new all time high price in the very near future.
ETC/ETH comparison: Ethereum Classic has formed an 18 month ending diagonal wave with converging lines signaling a near-term breakout. I expect this to be a major breakout given the nature of the moves of crypto and the time span this has been accumulating for.
Look at the inverse price correlation from Verge (XVG) to Zecoin (XZC). Looks like there may be potential for the same group that pumped verge to carry over to Zecoin. Interesting to see if this plays out. If so, XZC price is still pretty low as it's only in the middle of the second wave.
The Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors. (s/o to Wikipedia for the definition because I'm too lazy to type one up) XVG