While VEN/BTC hits another ATH, we're looking at what is an ABCDE correction most likely, before VEN has the chance to breakout of a squeeze and make a 3rd wave run.
As ADA starts to form a squeeze and consolidate, I believe it's at the tail end of the ABCDE correction, where we can all but expect to burst another short-term 12345 pattern, which in the long-run is possible for a new 3rd wave All-Time-High. Need to see where ADA ends up in the next 48 hours, most likely in the 4800-5300 satoshi range.
So if we take into account the previous ATH and the absolute bottom that followed and ended the ABCDE correction, we could be looking at a new short-term 12345 Elliott Wave, which might show us a 3rd Wave new ATH. BUT, we will see resistance at the 38.2% Fib values and 61.8% while people that entered on JAN 5,7,9,10,11 take short-term profits. If we have a...
Re-Entries/Buy Support could prevent the negative trend from happening, because BAT/ETC is currently in a positive trend. So I'm showing a potential head-and-shoulders pattern, if that occurs we might hit the 4500 satoshi value, if 2 negative-trends (triangles) form over 48-hours, BAT could fall into a negative trend overall. If there is enough support for BAT,...
Here is what a lot of traders are looking in ETH/BTC. ETH trying to break resistance into a continous positive trend, while Short-Term Holders/Entries are taking 3x Profit. Resistance is being created, if we see ETH/BTC obtain a double positive trend ABOVE the resistance line, we can start to look at ETH continuing to rise in value before we set some new goals.
After encountering resistance, profits are being taken as we look for ENG to basically have a double-negative form where the profit-takers are looking for another great entry level. And that's where I think ENG will continue to meet resistance as it becomes oversold and undervalued and starts to make a bullish run.