Gas has completed a primary Elliott 5 Wave and should move into an ABC correction...on the 1Day chart we can see a nice cup with what would be a handle forming with this ABC correction. - Junior Lancaster (aka BTCookieMonster)
After ICX/BTC hits a new All-Time-High, I am expect an ABCDE correction to form, which is actually a strong indicator showing value over time as ICX/BTC respects the Fib Extensions, and overall Positive Trend it has been in the past 30 days. and 4hr squeeze-watch potential after negative momentum is declining. Potential profit-taking in other Green Candle alts...
As the volume continues into a downtrend, that value of SUB/BTC will follow. Current values are not support be declining Volume Profile, as well as EMA starting to move more sideways compared to previous 72 hours.
As BURST continues on an upward trend as volume goes sideways in the market, we are looking at a potential 12345 wave breakout towards a new all-time-high as it will be testing the 78.6% Fib Ratio where we can expect a potential 12345 Wave Pattern to meet selling/profit-taking resistance.
So as BTC/USD consolidates and finalizes the ABCDE correction it was currently in, it could potentially make a 1-week run based on previous support levels in the 12500-13000USD range. It can potentially hit another 17k USD run coming out of the current squeeze watch that we are in.
Volume really needs to pick up from this point, and if the 12345 Waves and...
As ADA starts to form a squeeze and consolidate, I believe it's at the tail end of the ABCDE correction, where we can all but expect to burst another short-term 12345 pattern, which in the long-run is possible for a new 3rd wave All-Time-High.
Need to see where ADA ends up in the next 48 hours, most likely in the 4800-5300 satoshi range.
So if we take into account the previous ATH and the absolute bottom that followed and ended the ABCDE correction, we could be looking at a new short-term 12345 Elliott Wave, which might show us a 3rd Wave new ATH.
BUT, we will see resistance at the 38.2% Fib values and 61.8% while people that entered on JAN 5,7,9,10,11 take short-term profits.
If we have a...
Re-Entries/Buy Support could prevent the negative trend from happening, because BAT/ETC is currently in a positive trend.
So I'm showing a potential head-and-shoulders pattern, if that occurs we might hit the 4500 satoshi value, if 2 negative-trends (triangles) form over 48-hours, BAT could fall into a negative trend overall.
If there is enough support for BAT,...
Here is what a lot of traders are looking in ETH/BTC. ETH trying to break resistance into a continous positive trend, while Short-Term Holders/Entries are taking 3x Profit. Resistance is being created, if we see ETH/BTC obtain a double positive trend ABOVE the resistance line, we can start to look at ETH continuing to rise in value before we set some new goals.