A cycle looks to have completed in BCH/USD at $2800. The ensuing correction looks to be tracing out a Elliott Flat correction - 3 waves down followed by three waves up so far - if correct, then next should be 5 waves down to complete the flat correction at the $850 zone. A break above $1780 would of course void this outlook and we could start looking at the...
BITTREX:LTCUSD The overlapping rise from the $32 low could be the beginnings of Intermediate wave ( 1 ) of Primary wave 3. Primary wave 1 topped out at the $93 high. A initial target for Primary wave 3 would be above $170 ( 1.618 x Primary wave 1 )
The up trend from the $280 low has traced out three waves so far and is turning at a .618 fib level. This is typically a turning point for corrections. A further break down could indicate a long term zig zag unfolding and no new high for quite some time.
The rise from the $2900 low has now become too large to be considered a 5th wave or even a extended 5th. By the rules of the Elliott wave principle - the 3rd wave in a sequence of 5 waves would be the most dynamic, powerful, longest. We will now switch to our alternative theory that the rise from the $2900 low is a 3rd wave extension within Primary wave 3 with...
Is LTC going higher while BTC stagnates. Interesting flat correction has appeared on the LTC BTC chart. Something's got to give?
The correction from the all time high looks incomplete and suspect more downside to come. The chart points to a full correction to the bottom side.
Looks like the up trend from the $2980 low is not complete yet. Looks like more upside still to come ( Suspecting $6300 zone ) before a minor correction to the mid or early $5000 zone ( Suspecting the prior 4th low area labelled 4 of 3 ) Following this correction there should be one more new high before a much bigger correction ( Suspecting back to the late $2900...
1) Don't like the 0.618 retracement from the $32 low. This is typical of a Wave B retracement. 2) Don't like the 3 wave formation A B C 3) Don't like that Wave C = Wave A. Typical of a three wave correction. With these points in mind, the correction for Primary wave 2 that started at the $94 high may be incomplete. Wave 2 corrections can cut very deep - all the...
Looks like the correction from the recent $395 high is incomplete. Wave C will equal wave A at aprox. $160 - bringing it into the full correction zone.
The $ counts between corrections looks almost like we may be experiencing a 3rd wave extension of the 3rd - this last rise from the late $2900 low is so far almost equal to the rise from $1800 to $4900. Need to open your mind for this one - www.elliottwave.net
I still suspect we are in the early days of the next long term leg up in Primary wave 3. This should carry LTC to above the $100 mark - early estimate is $180 - but will have to see how things unfold. For now I suspect we are in the middle of a rise that should carry LTC to aprox. $88. A firm break below $60 will void this outlook.
Brent Crude Oil looks to have been in a 3 wave corrective pattern since 2008. Suspect the low of $27 could have marked the end of the corrective trend that started mid 2008. Since the low of $27 a motive five wave pattern has emerged with a correction to the 4th wave low of $44 Makes for a classic Elliot Wave 1 & 2. Next up should then be wave 3 - the most...
Suspect minor wave 2 completed at the $287 low - a 5 wave zig zag correction. The breakout and correction that followed should be wave (i) & (ii) of minor wave 3 unfolding - that should carry ETH to a break of $400. A firm break of $310 will void this outlook.
Current wave count looks to suggest a break of $6000 coming....
BTC outlook remains unchanged for a break of $5000 and initial target of $5100+ to complete short term wave (v) of III
LTC looks to finally be on the way up - after completing what looks to be the first minor wave 1 & 2 of Primary wave 3. A firm break of resistance at $57.50 should confirm the trend.
The short term wave count is pointing to not only a break of $5000, but also a substantial break above $5000. The rise from $2980 low to wave 1 was $1138. The next rise was $994. This is shorter than the first - by Elliot Wave rules - Wave 3 must be longer than wave 1.