This is H1 chart.
Wave 3 is not the shortest (despite it looks as though), because this is Finex chart and it is biased due to USDT fluctuation.
I think, one more small impuls and in 2-4 hours upmove will finish for next month.
It is not over yet, but I like it so much, that want to share.
Leading Diagonal Triangle in position of wave 2. Not described in theory for long time, but many traders have already found it. And, hope, so did I.
More and more evidences, in my opinion, that the market is going to go down.
Take a look on Litecoin. Nearest low was made by 3 waves, not 5. Precident structure and current impulsive attempts up comprise pattern "Irregular".
More than that. Wave 4 in C im an impuls. It is a characteristic of an Ending Diagonal Triangle.
Sudden up movements with almost no initial...
I think, that current movement from Feb 18 is finishing. That move from 12 Nov 17 to Feb 18 must have a continuation somewhere to price 1, as I marked.
The point is:
- if cryptomarket will grow, ETH will grow faster than BCH
- if cryptomarket will fall, BCH will be falling faster than ETH
To reach the bottom, BTC has to show ascending volumes like he did earlier (see on the graph). Probably, now we are just before the start of growth in volumes. And before massive drop.
Here is detailed short position in BTC being updated from time to time.
Looks like ETH is going to go down again. At first, I thought that low of 18th of August was a failure and mid term down movement was over. But since that date structure is corrective, so, it has to go down again. Now of after some more flat movement in wave two (grey wave 2). I am trying short position.
Here is a diagonal with wave 3 in it a diagonal itself.
It is located here: . Pretty sure that circled part is an impulse.
All other rules are complied: wave 3 is not the shortest, wave 2 does not cross beginning of wave 1. But wave 3 is a diagonal.
There are intersections between waves 1 and 4.
The reasons I think there is going to be a massive crash:
1. We have just finished with wave 3 down and went in wave 5, which is usually extended in crypto
2. In wave 4 we have the irregular. It is a strong signal for continuation
3. Wave 5 in correction is failure. It means that pressure down is very strong.
4. Current movements also include irregulars.