Suspect deeper correction to $38k coming. I would not be surprised to see it touch the 150 day EMA (200 day WMA).
I show two possible bitcoin retrace scenarios. First chart shows a WXY retrace to the 0.5 to 0.618 fib. Notice this chart allows BTC to touch the 150 day EMA line. Second chart shows an ABC retrace to the 0.382 fib. If BTC does this shallow correction, it will not touch the 150 day EMA line. First, I would like to point out that in 2017 BTC typically corrected...
This graph picks a point on the 2015-2017 bull run, where we may be now. So it shows how alts reacted then when BTC corrected.
I plotted BLX (Bitcoin) and some altcoins that have a long history. It looks like BTC tops out at $60 to $64k. If you look at the bitcoin NUPL chart on glassnode, you can see that Bitcoin will go above the 75% mark. Bitcoin always corrects after 75%. Often times hitting 85%. So, combining NUPL and this chart, yep. End of the rode.
I think AVAX will do a shallow correction, since wave 4 is typically shallow. So I put wave 4 at 0.382 fibonacci. I set wave 5 target to 1.618 to 2.618 fibonacci of wave 1.
HTR looks like a good buy in right now. Not financial advice. I show two possible paths with the green lines.
I just did a quick Elliott wave analysis. Very bullish.
I normally don't put numbers for tops, but I thought what the h-ll. Lol. ETH is SUPER bullish. This looks to me like we are finishing the sub wave 1 of the main (3) wave. Basically, we are hitting parabolic. Buy this up on the dip and retire on your yacht a year later. Trade at your own risk.
SWAP looks like it is about to break. I show two possible wave (3) targets.
ATOM looks like it is still not finished with wave (2). Look at the RSI. It has formed a trend line. Looks like RSI is bouncing off that trend line back down. If I'm wrong, it will need to break above the pink line to show bullish pump.
XRP people were expecting $0.25 to hit a final target of $10-$13 at the end of this altcoin season. Basically a 40x from a large cap. After 2 years of a bear market, XRP began the first leg up of the major pump. It was a beautiful thing, until the SEC stepped in and cut it's legs out. I see MANY similarities between ZCASH and XRP. Interestingly, ZCASH tracked...
ZCASH has formed an inverted Head and Shoulders like XRP did. I'm sure I could find other cryptos forming this similar pattern. ZCASH reminds me of XRP in that it retraced roughly 97% and could spring up rapidly to catch p to the market. The wick down recently was just SEC-Ripple fear pouring into other altcoins temporarily.
ZCASH has the same pattern before the pump. See how the XRP fractal matches. I couldn't help but notice the pattern, having lived and breathed XRP for so long :-( Fractals do not match by time, but do by general pattern. I don't follow ZCASH, but will look closer now. Any ideas on this?
ZCASH has the same pattern as XRP before the pump. I'm an XRP refugee and couldn't help but notice the wave pattern. Any ideas on this? I don't follow ZCASH, but will take a look now.
I drew the trend line as I suspect LINKBTC would have respected if not for the SEC Ripple lawsuit. The fear spread to Chainlinkers. I suspect LINK would have sold close to the 0.702 fib line, but panic selling wicked it to 0.786 fib. If true, LINK will try to get back above the trendline I drew. In any case, LINKBTC is way oversold and due for a bull run. I post...
It looks like LINKUSD is working a symmetrical triangle. And will continue in the $10.5 to $14.5 range until it breaks up. The RSI gives an indication of when it will turn bullish . Notice I did not draw the line though the low $8, as I do not think this would have occurred under normal circumstances. Could I be wrong, and it is a big ABC to 0.702 or 0.786...