LTC has been leading the market with small and shallow retracements since Jan 2019. What is that screaming? A wave 3 push.
Short Term: waiting for a retracement and complex wave 4 correction before pushing higher. Long Term, the completion of wave 5 which should take us to the 0.5 fib level (around 160) of the Y...
Weekly Timeframe Forecast:
Since December 2018 where we bottomed at 3122 and topped at 4236 we've been on a complex corrective structure, which leads me to conclude we're in a B wave formation with a possible C Wave in the works. Here's why:
WXY Pattern to retest December 2018 lows
ABC Correction to retest the highs at 42K.
A possible Ascending Triangle...
2013-2015 and 2017-2019 bear markets show a similar WXY count supported by a Schiff Pitchfork lower warning line hit and Fib Retracements confluences.
WXY Count & FIB Retracement:
Measured from the A wave of the W count, both the W wave and Y wave extend 1.272 in 2013-15 Bear Market. Similarly, measured from the A wave, both the W wave and Y wave extend...
Intro: If you've seen the Hyperwave channel on YOUTUBE you're familiar with Consensio, if you have not, the idea is to REMOVE price and just look at Lagging Indicators to determine where price is headed. Let's dive into the 2014 & 2018 comparison:
Method: Using EMAs instead of SMAs in this analysis as these offer less noise.
Color Scheme Pattern for Consensio:...
Intro: Light at the end of the accumulation tunnel. Why a BULL Run is possible when comparing 2014 & 2018 Elliot Wave ABC Corrections and Schiff Pitchforks:
1) W correction is about a 70% price drop in both 2014 & 2018.
2) Both Y corrections extend to the 0.786 Fib Level.
3) A correction retraces to mean in the Pitchfork.
4) B correction extends to about the 1.5...
Intro: By now you should be sick of the 2014 vs 2018 BTC comparisons BUT there are uncanny parallels between these two corrections regarding their ABC corrections and the Fibonacci Extensions. Here's what I'm seeing:
1) Three Lower Lows in 2014 and 2018 create our A correction (Zig-Zag Pattern).
2) The A correction DROPS about 70% in both 2014 and 2018.
3) Both C...
It is time for the BEARS to accept defeat. $5818.14 on Bitstamp on June 29th, 2018 was not newsworthy (relatively speaking) just like Jan 14th, 2015 wasn't, except we may be looking at dates where bitcoin decided it had enough of the downtrend (we know in 2015 this is a fact).
We've been rolling Gann Fan channel after Gann Fan channel since December 2017 but it...