Ok, folks!
I have recently mentioned, that I see two major options for the future of the chart:
- New Impulse -> New heights
- Double ZigZag -> New lows.
For both options we need to have a 5-3-5-3-5 -> A-B-C -> 5-3-5-3-5 to start with and then chart can down as a wave A of new ZigZag or as wave 4 in the impulse. If that wave will go below the top of the first 5-3-5-3-5 - the pattern will look more like a double ZigZag. Here are few options that I see at the moment:
Double ZigZag. We are now in the C of the linking A-B-C. The C is not finished yet.
Double ZigZag. We are now in the C of the linking A-B-C, but the C has just ended:
We are in the Impulse. In that case, that is too early to say, if the higher level 1 wave is finished or not. It should have 5-3-5-3-5 structure and for now we in the middle of the path.
Here is a development of the idea from the previous post:
Flat correction:
Usual ZigZag:
Considering the written above I keep hodling the FIAT and staying neutral. If the linking A-B-C is not finished now (option 2 pattern will get broken) I will probably set up the price target near $10 000 or $11 600 resistance levels.
Coming back tomorrow with the updates on cryptomarkets
Stay tuned!
Great info! Thanks for the TA. Seems to be a pretty big consensus that we may hit one more big low before the big climb up. Looking forward to your next update.
Thank you for the feedback, @danielsunday!
Slow, boring weekend which I am ok with given the last couple of weeks. We need some stability and consolidation before the next move. Thanks for the analysis, definitely watching it closly!
The good point is that we can catch the spikes! Thanks a lot for the feedback, @newageinv
I sold all of my BTC holding for LTC hoping they will decouple pretty soon.
BTC may still be the king but he is getting old and slow. Also he like to tax his people too much!
I think that Ethereum is a good place to migrate for the money now. LTC made a crazy run recently and I guess it needs a longer cooldown after casting the ultimate :)