One of the alts I was talking about. Zig-zag correction, impuls down. Don't even see an alternative up for now.
Clear pattern fot "longs". We have the diagonal triangle, flat correction. As far as I already have big amout of longs, I will buy SAN only in alternative scenario: in deeper decline (as outlined in grey). Anyway SAN is persuasively bullish.
I suppose, ETH is going to go in wave C now according to this plan:
Among all, I think, BCH has the most "beautiful" initial structure for growth.
There is a big possibility of a great drop because of a structure of last day's movements. On every major cryptos: ETH: www.imageupload.co.uk BTC: www.imageupload.co.uk
Let's take a look on our friend Bitcoin. At first glance, it seems that it is going to grow. He will, actually, but when? Right now (scenario 2), or after one more push down? (scenario 1) I think that second option. I published scenario 1 as main. Scenario 2 means "failure": pasteboard.co Difference between them is in the structure inside the rectangle. Scenario...
Current picture on BTC looks like a very good opportunity to enter the market. Actually, I am going in long. We have wave 1 from 6500 to 9800. Probably, wave 2 has just finished. And we have quite beautiful impuls up: pasteboard.co After some correction it will be an opportunity to buy from around 9200 with a stop at 8960 and minimum target at 11700. There are...
I see 2 major options now: 1. An irregular is going to be built in wave 2. 2. Wave 2 has already been built. I see wave 1 from April, 1 to April 25 as finished. In D1 chart it looks like this cdn1.imggmi.com upload pics
Nice bullish pattern at OMGUSD. I went long. Stop under wave 1.
Wave 3 is undergo, it must go lower then wave a was, lower 596.
As far as BTC made an impulse from recent high, (via 5 minute chart) quite possible that correction in green wave 4 has started. Its target is 7700-8500. Cancellation level 7500. Zig-zag a-b-c correction in alternative.
More detailed 1H chart, I expect the end of a current growth. There is an alternative which can lead to further extension up, but it means the triangle in wave 4 (alternative grey scenario). I don't like it much because of big disproportion between the scale of that triangle and corresponding with is wave 2. Possible targets for correction are 440-470.
There is, actually, an alternative bearish wave count, but I don't like it much, because: - pink wave 5 ended up with a-b-c wave on April, 1. It is not in wave theory, but, in practice, it takes place sometimes; - impulses in olive waves 1 and 3 looks bizarre. Anyway, decision about entering the market should be made only if we see an impuls on the way down, or...
BTC corresponds with ETH in downtrend scenario if it is building a triangle like this. Critical level at 7510.
Currently, ETH looks like irregular correction with ending diagonal triangle in green wave c. Critical level of this scenario is 457, where wave 3 will become the shortest.
This is an overview of the Bitcoin. The chart speaks for itself. I am tracking big green wave 4 of a big impuls, which started from a birth of the BTC. Movement of the price from Nov 2013 to Jan 2015 is the longest consolidation period, so, it must be wave 2. Wave 4, then, will probably has comparable duration. Nevertheless, elliott wave principle states that...
And the last one. Frankly speaking, there are many options here, I outlined two of them as it was mentioned in H2 chart.