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
Think, worth trying possibility within this framework
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.
In previous few hours ETH passed blue horizontal line, it is the minimum of previous pink wave 3. This means that there is no extension in down movement, so, as far as there is five waves down from January heights, I expect its correction up in a way I pointed out.
Gone short in BTC. Think, somewhere here is local high. Current pattern is a zig-zag correction. Od daily chart I see falling purchasing volumes, that indicates that is is a correction.
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. Close-up view:
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. The same...
Just wanted to renowate theese charts: BTC is moving faster than I thought. Correction in wave b is finished. I think it is going to drop in the strongest wave c of 4. According to the wave theory maximum target is the high of wave 1 - it is 1200$ for one bitcoin. Fib time cycle indicates the length of green wave 2. Possibly wave 4 may extend up to the end of...
Just wanted to renowate theese charts: BTC is moving faster than I thought. Correction in wave b is finished. I think it is going to drop in the strongest wave c of 4. According to the wave theory maximum target is the high of wave 1 - it is 1200$ for one bitcoin. Fib time cycle indicates the length of green wave 2. Possibly wave 4 may extend up to the end of...
I suppose, the growth is delayed. Current structure still can be an impuls only after sweeping move above 630 on high volumes. But. More realistic would be a continuetion of a flat like I sketched out. Because volumes on top 3 cryptocurrencies are very low, it doesn't look like before the growth. Also alts made zig-zag correction from the lows of 28th of May. And...