iamaltcoin

iamaltcoin

This is not really an accurate chart, I'm more throwing out an idea as to what we might see, prediction using only trend lines and Elliot's. I'd be interested to hear other peoples thoughts. This chart is mostly for my own interest, give that this is a back of the envelope prediction.

iamaltcoin

Double Bullish divergence gives us nice long opportunity. With KDJ bottoming out and J curling up we can get a nice entry with minimal risk/reward of 4 This is also a huge bullish order block zone, use that as you will. I've provided multiple targets, the higher you go the less likely they are to hit, either exit or shrink position on each target to minimize risk!

iamaltcoin

Bearish divergence signals a good opportunity for a short - minimum target of $340 due to fibs and a previous order block.

iamaltcoin

BTC finally got a nice bounce over the last 3 days but will now slow down and retrace to its previous support an 0.618 fib level. This will be followed by a strong up movement to around 380 to complete its ABC re-trace.

iamaltcoin

BTC has been falling after a major rally and has yet to settle on a price bottom. However it may now be showing signs of slowing and possibly stopping. If it reverses as expected, it could very well take another run up. Look for an entry between 360 and 375, if it falls below 350, expect it to drop further.