My observations on the crypto market over the last almost 12 months:
1. BTC’s increase in PA (price action) and dominance increasing, meaning BTC PA was outpacing alts on pushes and alts were bleeding a little less on BTC pullbacks.
2. BTC dominance increasing even on pull backs, meaning BTC PA was still outpacing alts on pushes but was now bleeding much...
There is a potential Elliot Waves forming on the Weekly for XBT. If we continue up from here we could see a conservative rise to 16.2K by the end of the year before an ABC correction. The 5th Wave could extend up to 20K (instead of 16.2K) by Dec which a lot of traders are predicting. This would indicate a longer term uptrend before a brief ABC correction. From...
