XCPUSD has ended a cycle on 12/02/2018 high at 97.60. Since then, the token has developped a double correction structure through 17/01/2018 low, 23/01/2018 high and we are in the final leg. I called the first cycle of this third leg completed at 02/02/2018 lwo followed by a FLAT that ended at 39,657 high on 16/02/2018. From there, I can see a wave 5 possibly completed at 9.6304 which is at the confluence of equal leg area of cycle from 12/02/2018 and 61.8%-78.4% extension of cycle from 23/01/2018.
The analysis is based on EW theory adapted by the Trader's Corner on daily, 4h and 1h charts.
The analysis is based on EW theory adapted by the Trader's Corner on daily, 4h and 1h charts.
Comment:
For now, longs need to be patient. 3 waves up for now still put pressure on the token. We have reaction on BTC and altcoins in 27/03/2018 (Singapore time). Let's see
Comment:
Not quite yet. Still very heavy.