Bitcoin is in a C wave of an ABC correction since the $42000 high on Jan 8th. It looks like BTC will go to about $27000 by the end of this week to finish this correction. After 30-40% corrections in 2017, BTC typically made 150% gains after in a few months. A 150% gain from $27000 would be the $65000 prediction by Max Keiser. I suspect it will get there by...
The drop from $1350 on Jan 10th to $905 on Jan 11th eventually formed a cup when ETH reached $1440 on Jan 19th. $1350 - $905 = about $440; add $440 to the ATH cup neck and you get a target of $1880. The handle has been forming the last 4 days. From $1440 ETH dropped to $1040 on Jan 22nd. When ETH hits the $1440 ATH and neckline of the cup and handle; the...
It looks like from June to Dec 2017 that LTC outperformed ETH as the LTC:ETH ration went from 0.1 to 0.6. The ratio is now 0.1167 and is bottoming. I suspect when ETH passes $1420 soon, then it's moonshot after will pull a lot of alts up with it including LTC. LTC has a smaller market cap $10 B versus $144 B for ETH. Thus it should take much less fiat to move...
This is a monthly ETH to BTC ratio chart. It shows how ETH outperformed BTC in the last bull cycle and underperforms BTC in the last bear cycle. The ETH:BTC and BTC:ETH ratios are as follows: Month/Yr ETH:BTC BTC:ETH Nov 2015 0.00137 730 Mar 2016 0.0372 27 Dec 2016 0.007302 137 Jun 2017 0.1530 6.5 Sep 2019 0.01615 62 Sep 2020 0.04055 25 Dec...
The current Bitcoin symmetrical triangle since the near $42K top and the $30100 bottom looks like sideways motion since within the triangle. Since the direction into this triangle was from lower level, it is likely this triangle will break to the upside and within the next few days. A break at $38K+ projects a target of $50K+.
The ascending triangle neckline was broken at $36250; the target for this move is now $36250 + ($36250-$30100) = $42400. The Elliot Wave is in a 3rd minor wave that should break $40K resistance soon. I believe after the target is met there may be a retest of $40K as support then a big move up toward $45K.
I added the S2F indicator to the BLX weekly chart. I discovered the values the S2F model predicts have occurred in a few months after. For example, 6/18/10 S2F predicted a 42 cent price; price was achieved 11/1/10, 4.5 months later. 3/14/11 S2F predicted a $3.71 price; price was achieved 4/25/11, 1.4 months later. 10/24/11 S2F predicted a $12.77 price; price...
I've seen some very bearish scenarios if Ripple tries to fight the SEC in a long court battle. I've seen Elliot Waves projected to 4 cents. When I look at the long term XRP chart on Poloniex, however, I see a bullish long term scenario especially if the recent 17 cent low holds. Alessio Rastani pointed out the significance of XRP holding that 17 cent low. He...
BAND is in a intermediate strong wave (3) now which could take it to $100 in a few months. After a corrective wave (4) it's possible wave (5) will take BAND to $400 to $500. JMHO
On the 1 hour, BTC fell from $40425 to $36200 in 32 minutes today or a 10.5% correction. Many analysts keep projecting large 30-40% corrections are coming for Bitcoin like the 2017 bull cycle. That simply hasn't happened yet since the March 2020 COVID dump to $3858. Corrections were 15% and 21% in the spring and summer. Since Bitcoin passed $20K, corrections...
A cup and handle formation has traced out in the last day or so. $35800 which was resistance has now been backtested as support. Target is the top of the cup at $35800 - the cup bottom at $33700 + cup top $35800 = $37900.
Ethereium is in another bull flag pattern. The pole is from $753 to $1169 on the one hour chart shown for a $416 gain. It looks like this pattern will break to the upside soon once ETH breaks $1100. Target of the pattern is the breakout point $1100 + the pole gain $416 = $1516 which would surpass the $1420 ATH of ETH on Coinbase.
Litecoin has displayed a beautiful Adam and Eve pattern the past almost three years. With a neckline at $145 and a double bottom near $25, the difference is $120. Add $120 to the neckline price of $145 and you get a target breakout price of $270 the next few months.
Ripple (XRP) got slammed this week by an SEC lawsuit claiming it's a security. All the short term holders who want to cash in on what little profit they had left have now sold, leaving the market to longer term believers in the coin. Coinbase has just been approved to list securities so it doesn't matter if the SEC wins the lawsuit or not. Coinbase will NOT...
Bitcoin has broken the bullish descending wedge to the upside and backtested the resistance line as support. The Elliot Wave ABC correction is now finished with all subwaves completed. There should now be a bullish pre-holidays rally that will progress through the end of this month and in to the new year at least IMO.
Ethereum on the 4 hour chart is in a cup and handle formation. I am calling the neckline $620 with the bottom of the cup $480. The target is then $620 - $480 = $140; $140 + $620 = $760. The target will most likely be reached after the neckline is definitively broken.
Litecoin is in a cup and handle formation on the 4 hour chart. I am calling the neckline at $92 with the bottom of the cup at $64. The target is then $92-$64 = $28 + $92 = $120. When the neckline is definitively broken, then LTC will go up to its target.
On the daily Bitcoin chart, BTC formed a cup when it went down to $16200 and returned to near $20K breaking the ATH on Coinbase. It is now forming a handle with the recent dip near $18K. I will take the neckline at $19600; target would be $19600-$16200 = $3400 + $19600 = $23000 for a target once the neckline is definitively broken.