It seems like price is out of the undecisive triangle pattern that formed between June 8th and July 12th, see the green lines between those dates. The highs (yellow horizontal dashes) were subsequently lower each time, following the upper green line until recently where the highs are now falling below, which is a confirmation that the triangle is unraveling to the...
I haven't posted since I mentioned that we may have reached a bottom but it's because I believe my bullish call still holds, at least for now. You will find above the intraday count that I'm following. The ETH/BTC spread made a set of impulsive waves followed by a set of corrective waves and now we are starting to see some price action this evening. Let's see how...
Seems like Ethereum finished its third sub-wave of that downward movement. I would expect price to fluctuate in some complex correction or a triangle until tomorrow, and price to start falling again, for a last time later tomorrow and that's gonna be the best entry point to go long. The bottom might be anywhere between 1700-1800. It will be extremely swift. Watch...
I was surprised that Synthetix rallied so much over the week end, that the sub-wave B is much longer than I expected so I readjusted the count to match what the price has done. Now I think there are higher odds that price falls to the 50% Fibonacci retracement than the 61.8%. In other words, Synthetix is bearish in the short-term but very bullish in the long-term...
I think the giant triangle holds water because the correction we are seeing right now would be a summer lull before a bull run.... This view reinforces my opinion that 1,700 is a great entry point at a rate of 0.055 ETH per BTC. The next rally could see that ratio triple to 0.15 ETH per BTC, a serious decoupling.
The ETH/BTC spread is often seen as a risk on / risk off barometer for crypto markets. Whenever it falls, it means the risk appetite for riskier alt coins is falling and vice-versa. If the giant triangle theory I started to noticed more lately is correct, the ratio at the end of the correction is gonna be 0.055 ETH per BTC. With ETH, the bottom of the triangle is...
I posted in my previous thread a theory that Cardano (ADA) is doing some type of giant triangle. A few other cryptos like Uniswap (UNI) and even Ethereum (ETH) could be forming such a count. This means a retest of the 1700 level and a strong rebound from there could be in the cards.
Bitcoin is extremely difficult to count since it reached the top of 64K with an ending diagonal. Here's another look at it from my perspective. Right now it seems to have done a triangle from mid june to mid-july and the price is ready to exit, either to the upside or the downside. I believe the odds of the downside are higher, considering there are many reasons...
Synthetix appears to have completed an expanding diagonal for a primary wave 1 and is now correcting in the shape of a zig-zag for its primary wave 2. I added the range where I think the price could fall before resuming its bull market. The long-term view is extremely bullish so have to keep that in mind.
Compound appears to have completed a set of 5 impulsive waves, with an extended sub-wave 5, for a first bullish wave 1. It is now correcting in the shape of a zig-zag, the most common pattern for a wave 2. Right now it is tracing sub-wave b of wave 2 and I expect a sub-wave c of wave 2 in the upcoming days that could push the price down to the $325-360 range,...
While I stil believe Cardano has a bright future, I have to revise the count to reflect what seems to be happening in the near term. It appears that Cardano is tracing a giant triangle. All the moves are made of three waves since the correction began in May. I would expect another three waves to the downside and a revisit to 1$ before bouncing back for good with a...
According to the leading diagonal scenario, now is the best price to get in bitcoin before the rally to 38K. However this is as stretched as it can be for that scenario. If it go any lower, the scenario becomes invalidated.
Under the ascending triangle of wave 4 scenario, a long entry now is optimal as we are at the bottom of sub wave e of 4. However price cannot go much lower than this or this scenario is invalidated. The target would be 2700 points.
These are the three alternatives I'm watching for Ethereum, I believe the first one is the most likely but to be honest anything is possible so I'm open minded to any of those 3 outcomes. Scenario 1: Seems to match what Bitcoin and other Altcoins are doing. Scenario 2: Satisfying count but it doesn't relate to what Bitcoin and other Altcoins are doing. Scenario...
QTUM is showing why investing in a triangle breakout can be frustrating. When you think you have identified a triangle (see teal), you buy at the breakout only to find out there is a bigger triangle taking place (see green)... Either cases point to higher prices in the upcoming days but it is easy to be stuck with a losing trade in the very short term.
Bitcoin is still evolving inside a leading diagonal with a triangle at the fourth wave. A breakout above 34,700 is going to propel bitcoin as high as 38,00 in the upcoming days for its fifth wave.
I'm going to admit that counting Ethereum has been pretty challenging since it has bottomed 10 days ago. However, with the erratic movements we have seen lately, it seems to correspond to a triangle of wave 4, where the bottom of that triangle still has to be made, around 2225 sometime today most likely. Under this count, this might be a good entry point.
The intraday spread between Ethereum and Bitcoin is widening at a faster pace than expected. Seems like the third wave is being extended, which is a very bullish sign. I would expect Ethereum to claw back more market cap dominance over the next couple weeks.