As you can see, this is not your usual technical analysis. Because this method has not been tested and approved, take it with a grain of salt. It's more of a proof of concept than anything else, and the proof may fail miserably at some point, even if up to now, it seems to be holding up well. All the thin lines have been drawn using Fibonacci speed/resistance and...
Just playing around with Bitcoin , the Golden Ratio and the Elliott impact wave. I put my prediction at 5 because it was the place that made most sense to me. But just between you and I, even though this whole thing is pretty, it could be complete nonsense! Be careful: you might end up seeing exactly what you want to see :)
After adjustments and recalibration of my previous idea, here's a more complete analysis. First, let's make one thing clear: the Bulls have been in real control of ETC since Bull River was formed between March and May 2017, and have never let go. The fluctuations that have been happening since, though sometimes dramatically bearish (47 to 13 is a pretty dramatic...
As we see on this 4 hour chart, ETC fell with BTC as it hit a big resistance the other day at around 41.75 (14.6% retracement, which also corresponds to the second last all-time high). The previous RHS (in blue) had precicely reached it's average target (38%*, which brought it to $37), then it tried to continue going up but it didn't have what it takes to break...
I don't normally publish my analyses because I don't feel like explaining them, but since some people may want to benefit from this, I decided to share. I'm sorry I don't really feel like explaining how I got there because I'm self taught and I don't use any existing types of analysis that I'm aware of, so it's difficult to explain, but let's just say that having...