Altsignals
RIPPLE - The Next Leg Down 🔥XRP finished its impulsive leg and now is in its corrective ABC phase.
We can see that price reacted to the 61.8 fibonacci and then broke the ascending trendline indicating that price is rolling over to the downside to complete the C wave.
We have 2 areas where the corrective wave can end.
First area is the -0.27 but the second area seems more likely.
Second area is the -0.618 which lines up with the previous bottom.
Looking for bear flags to take Ripple lower.
Bitcoin Cash - Downside Rollover 🩸Bitcoin Cash was in an ascending correction for the last couple of months but it broke to the downside and then created a minor correction.
The minor correction rejected the 0.5 fibonacci and now we may see it rolling over to the previous bottom to create a higher timeframe double bottom. Another confluence we have in that area is the -0.27 target fibonacci which makes it an even more high probability area that price may reach there.
CARADANO - Further Weakness 👎🏼In our last analysis we marked out the bearish pennant and we were anticipating a breakdown back down to the 1.90 level. We broke down of the pennant and created a nice bear flag that retested the pennant and now we're making our way down.
First targets will be the -0.618 level which lines up with that major structure level you can see on the chart. Watch for bear flags on lower timeframe to take ADA down further.
BITCOIN - Correction Overdue 🩸Bitcoin has had really nice bullish price action leading to all time highs. We could be in for a major correction back to the ascending trendline soon.
If we copy and paste the first impulse to the second impulse we're in now, it takes us back to ATH where we could see a significant reaction which may cause us to fall for a short period of time.
For confirmation, we are waiting for the break of the ascending red trendline to indicate to us that the bullish run has ended and that we're making a correction.
Don't jump in too soon. Wait for price to tell you what's next!
BTC DOMINANCE Huge alt season right down the corner?BTC Dominance just broke above the 1D MA200 (orange trend-line) after a 6 month consolidation period. This sequence is very similar to the previous BTC Cycle, in fact its Parabolic Phase.
As the BTC Dom chart shows, an identical consolidation pahse took place from July to November 2017. Then following a Golden Cross, the price peaked and dived aggressively as BTC sharply lost dominance against the rest of the market.
The total crypyo market cap chart also shows identical phases. Do all these indicate that a massive alt season, potentially the last of the current Bull Cycle is right ahead of us? Feel free to share your work and let me know in the comments section!
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CTK - Unconvincing BreakoutThe first breakout that broke the descending trend early October, reversed from the 50 fibonacci level. We had a mother recent breakout which was very weak. We could see CTK roll over to the downside to the 1.4 level or even the 1.0 level.
Watching for bear flags to indicate bearish momentum and taking this one down.
ALGO - Keep An Eye On This LevelAlgo is at a pivotal point where we may either get a bounce off the 1.5 structure level or we can break through.
If we do break through, look out for a retest of that structure level before moving down.
Short targets would be the triple bottom region of 0.7.
Long targets will be the recent highs of 2.5.
THETA - The Bigger PicturePrice has been moving within the parameters of the fibonacci sequence. We can see that price has respected the 61.8 fibonacci on the moves within the bigger ABC pattern.
On the higher timeframe, we saw that price rejected the 50 fibonacci level and is moving towards the double bottom area 3.5.
Will be looking for bear flags down to the 3.5 area and then we'll be looking for buys.
1INCH - Double Bottom Soon?1inch has been consolidating on the higher timeframe. We can see that recently price made a double top and is moving down slowly. We saw a tap of the 61.8 fibonacci and the target fib of -0.27 lines up with the double bottom which would be a great place to look for buys.
Until then, look for shorting opportunities such as bear flags to take us back down to the bottom.
SOL - SHORT Targets & Reversal ZonesSOL made a break of the ascending trendline in early September and since then it has been making bearish retests and corrections. The levels to watch is the 120 level and the 90 level where we may get a significant bullish reaction.
Looking for any bearish corrections to take us back down to those levels.
BITCOIN - Watch This Level 🔥This may look complicated but to simplify it:
Impulse wave has 5 waves.
Corrective wave has 3 waves.
We can see that we are in a 5 wave impulse wave and approaching a significant level where we have multiple confluences to indicate that price may reverse.
We could go on to create an ABC correction back to the channel support for another move up OR worst case scenario, we break down completely from here and go back to around the 28K level.
Keeping a close eye on the ascending trendline for a break to confirm our shorts.
CARDANO - Bearish Pennant?ADA went through a dive recently but it appears its not over. Price looks to be forming a bearish pennant for another move lower. We could be in for a deeper retracement before we move any higher.
Looking for one more move up to finish wave E of the bearish pennant and then a drop to atleast the 1.90 level as first targets.
XRP - Time To HODL!XRP has been a difficult one to understand as of late due to the manipulative spikes you can see on the chart.
Price seems to have finished its first impulsive phase and created an ABC correction back to the 61.8 fibonacci where we had a nice rejection.
We are now looking for buying opportunities to atleast the -0.27 fibonacci. Looking for clear corrections to get in and HODL!
Dogecoin Killer - How High Can We Go?SHIB recently underwent a massive spike and there seems to be no signs of slowing down as long as we're above the ascending trendline.
Price seems to be creating clear bullfrogs for another move up. If we are to move up once more, we'll surely see another bullish correction of sorts before moving up.
However, if we do break the ascending trendline, the bullish outlook will be invalidated for atleast this period.
LITECOIN - Don't Miss The Next Bounce!Litecoin was recently in a descending wedge where price was squeezed to the point it had an aggressive breakout to the upside.
We could be making our ways back to the recent highs of 232. Watch for price to correct back to the ascending trendline and enter on break of correction.
ICP - Correction Over. Impulse Resumes.From July until September, we were in a big ascending wedge but within that wedge we had a 5 wave impulse before we broke down. The bearish drop took us down to the 78.6 fibonacci level where we bounced off perfectly.
Anticipating further strength back to atleast the 76 level. Watch for corrections back to the ascending trendline and enter with stops below the trendline.
SXP - The Parabolic CurveIn our last SXP analysis we were short from the bearish pennant. We met our -0.27 fibonacci target and turned bullish.
We saw a double bottom indicating that price is reversing. We also have what looks to be a parabolic curve support. Watching for the next retest of the trendline or structure for another move up!