CovidScamIsAnIQTest

CovidScamIsAnIQTest

Similar to LTC, if BTC makes it back to the channel, we should see 3rd wave target around $16784.

CovidScamIsAnIQTest

Looks like we have completed Elliot Wave 2 at .786 level, now we are ready for the wave 3. Most likely wave 3 will hit .618 fib level around $346, then retrace for wave 4, wave 4 will be shallow since wave 2 was deep. Let's see if this will play out.

CovidScamIsAnIQTest

We need LTC to stay inside this triangle...

CovidScamIsAnIQTest

I am assuming we are done with wave 2 which is a perfect retracement to .618, now we are in the middle of wave 3.

CovidScamIsAnIQTest Updated 

Looks like BTC respect the uptrend channel on the log chart very well...patience will pay off.

CovidScamIsAnIQTest Updated 

This is solely based on previous performance of LTCUSD pair, using Fibonacci projection. Last time when the price hit 420, that was Fibonacci projection level of 4. If we use the same level, we will see $1646 Litecoin very soon.

CovidScamIsAnIQTest

The target is a measured move from H&S pattern, and it also falls into the support area.

CovidScamIsAnIQTest

Keep in mind, retracement on the upward movement is healthy, it could gather more strength for future highs. Possible retracement from rising wedge is around 9100-9200, where also is 100 MA on 4H chart. It goes back to test H&S breakout level as well. Let's see how it plays out.

CovidScamIsAnIQTest

Soon after the triangle is completed, it looks like breaks out to the upside and makes another measured move to 0.3. This is a similar pattern for LTCUSD as well.

CovidScamIsAnIQTest

It is a matter of time now...candles that been squeezed into the corner, then we will have the moment of the truth.

CovidScamIsAnIQTest

Ideally, LTC does a reasonable correction to form wave4 before gathering more strength to wave5 so that the rise of price will be more sustainable than a parabolic move without resting (look at two months ago how LTC made the move to 420, we saw an 80% correction). Let's see if LTC has learned to pace itself this time around.

CovidScamIsAnIQTest

Looks like we are on wave3 right now and reach 1.618 Fibonacci extension level which is a standard target in Elliot Wave for wave3, prepare for a 0.5 Fibonacci correction for wave 4 (just like wave 2 with 0.5 Fibonacci retracement), then OMG should make a wave5 upwards and aiming $30 and beyond. (in crypto, we often see wave5 is the longest instead of wave3)

CovidScamIsAnIQTest Updated 

If this breakout is succeeded, we are looking at just above 10k for BTC by a measured move up from a bull flag. If we are able to close above this level for weekly, that will give us more confidence that this correction is over.

CovidScamIsAnIQTest Updated 

This is starting to look like a cup and handle...let's see if it can make it in the next few hour and breakout.

CovidScamIsAnIQTest Updated 

It is on the move of breaking out, if volume follows, that will be fantabulous. Target is around 1.618 Fib level, it is also exactly the same height of breaking out measured move from the wedge pattern.

CovidScamIsAnIQTest

It did break out from the downward channel...a good for Omisogo for a falling wedge bullish signal.

CovidScamIsAnIQTest Updated 

If it succeeds to breakout the neckline...we are golden :)

CovidScamIsAnIQTest Updated 

BTCUSD is forming a H&S on 4H chart.