This is not that much obvious, but I think we have an ending diagonal on ETH here. Which, in turn, a failure. Each green wave in it is comprised on corrections, not impulses. Which indicated on possible huge downward movement.
On Week or Month chart there is not enough data to count waves. As two base cases I am considering flat correction or a triangle. So, what is marked as red B can extend higher. Daily chart looks like this: And 3h like this: 3 hour chart indicates that we can expect wave 4 now, comparable to wave 2. In this case, I'd expect wave 4 to finish on the edge of the...
Recent rebound from 57k suggests that BTC now is in a long correction. I think, on the enge of 2024 and 2025 growth cycle will finish. Completely or just for another big correction. ETH also implies that. The whole growth in green wave 5 is not impulse, but combination of threes.
While other coins building finals waves in their correction structures before going up, there is XRP, who had been in a relative consolidation for previous almost 5 years. And now it may soar as big triange completes its formation. Although, it may continue, there is a decent impulse (marked red) with unclear correction. At .44, I suppose, it will be good to stard...
Going to be tracking this option. If olive 2 finishes succesfully, followed bu impulse up, will be great long setup. In case if BTC corrected has finished within this scenario. Everything is pretty much ugly, but this is normal for waves 5 and C.
Green wave 5 is marked as a failure. Alternative: But, considering other coins, alternative is weak. Since there is no impulses on ETH from the low, I think, it will go for another local low. The same on ADA:
There is clear 5 wave impulse down and clear initial impulse up which has a-b-s correction. What else needed for long?
There is nice diagonal down, which implies second part of down movement. But for now it is unclear if the correction is over.
Despite whole market looks bearish, there is a setup, which requires some longs
The best example of EWA growth. It does not look like a crash is coming. Wave 5 is needed. But there is still room for a fall of 10-30%.
Quite clear chart and flat correction. I expect that IGH will slightly cross 84.79 in 2024.
I see irregular pattern previous day. No initial impuls up for last weeks. Which gives good short opportunity.
I think, one more purple wave 5 has to go down. And after that - up.
Long trade is looking for Elliott Traders somewhere here...
Nice setup for short. It can either go down very far like to below .3. Or it is just a correction, no lower than .4.
I see two initial impulses up here. Second one is followed by irregular. All together gives great potential force of up movement.