It is becoming increasingly clear that most crypto currencies are forming 5 waves down, this is very bearish. PolkaDot might fall as much as 12-15$ in the upcoming days.
The short term pattern is not looking good for Ethereum and other cryptocurrencies. Price bounced from 2100 to 2480 this evening, and is more starting to look like a dead cat bounce. Ethereum is currently giving up alot of that bounce late tonight. 2100 must hold at all costs or this is not gonna be pretty this week end, with a potential drop of -30% from the...
The triangle that Bitcoin and Ethereum was forming resolved on the downside, with the announcement that China's Vice Premier Liu reaffirmed China's stance to crack down on crypto mining and trading activities. We now have 5 waves down for Ethereum from its top of 4400 with the fifth wave just beginning this morning. We are most likely going to revisit the lows,...
This might just be the last time Bitcoin sees 42K in a while if this resolves to the downside. On the other hand, if it breaks above 42k then this is very bullish. I don't like coin tosses so I rather wait on the sidelines and wait for the resolution.
To better understand the next big move, I think it's important to revisit the long-term count of Ethereum . I feel the top might just be in and Ethereum is set to correct to 1500, around the level seen from the previous top of 2018. Right now Ethereum keeps getting rejected at the 3000 level which is a sign that there's probably more downside to come.
This scenario is increasingly becoming more likely. The price action of the last few days seems to be forming up either some triangle or a tripe zig-zag correction. Under this bear market scenario, there is a last pump to 3500 before the price of ETH collapses to 2700. This would mark five waves down and the confirmation of a crypto winter.
Bitcoin has recently tested 5 times its upper bearish corridor and is at a critical pivot. If it closes above 49K then it might mark the end of the bear market. If it falls by Monday, then price should fall as much as 39-43K quickly. Let's observe the outcome...
BTC/USD is following the scenario I anticipated on February 23th (see previous post). I was calling for a consolidation that would last until April. After correcting to 43K, BTC has now rebounded, in what I believe to be a corrective bounce-back. There is a small chance the price revisit the previous top, and make a double top pattern. However, I believe a lower...
Bitcoin has touched the top of its upper channel at 58K and is due for a -30% correction which would bring its price to the next support of 41k. I'm then expecting the price to fluctuate in a range or triangle pattern over the next couple weeks. This is a great opportunity to get more to benefit from the next impulsive wave that should bring the price to 100K....