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Ellitowavetheory

What's it gonna be?, BTC USDA meaningfull discription would be. If current pattern continues and resolves to a wave 5 completion , which ends at 63kish , we have firmly broken prev. ATH and can expect more up. If current pattern discontinues at prev. ATH which sits at 58k-ish, (by means of a firm rejection at that level), the current formation points down and could in theory resolve into filling the cme gaps at the 9k ish levels. Besides another scenario that will be applicable when we break prev ATH , one that shows a wave 1-2 formation at 43k -52k-46k(ish), there is not much more to say:) Be aware and have a nice day
COINBASE:BTCUSD
by KingRekter
7
Why I am still waiting to buy into crypto...This is the chart for the total crypto market cap. Overlayed in orange is the SPX which is the top 500 US companies. Currently the value of the SPX is >170% of US GDP. According to Warren Buffet, anything over 135% is 'Significantly overvalued' and Buffet has been offloading much of his stocks and sitting in cash. (read more here: www.gurufocus.com ). The Fundamentals of today's covid economy are not looking good and a large stock market crash seems to be inevitable. Meanwhile, BTC is surging back to near all time highs and yet there is very little media hype around it and the rest of Crypto is remarkably stagnant by comparison. As the SPX and Crypto seem to remain well correlated, there is no reason to assume that panic selling in the stock market would not lead to panic selling in Crypto. The total crypto chart shows that the total market cap is approaching the .618 fib retracement which would be a valid target for the 2nd wave of a large ABC correction (note that the .786 will also be valid, however, less likely for a pivot). The weekly RSI is in overbought territory. Same goes for RSI on BTC and The stock market. To me it seems as though the stars are aligning for a big drop which will catch everyone with their pants down as sentiment is overwhelmingly bullish around BTC. This is further demonstrated by the 'Extreme Greed' rating on the Cypto Fear and Greed index (Available here: alternative.me).
CRYPTOCAP:TOTAL
by cheretic
1
REPUSD breakout! Wave 3 after Veil mainnet launch - AUGURHi everyone, it seems like Augur is ready for Wave 3 of the current uptrend. Veil mainnet has launched and the platform is growing a remarkable userbase according to crypto media. Looking at the 4h chart, wave 1 is a beautiful example of a perfect Elliot 5 Wave structure, respecting the Fib levels to perfection. Now that the whole structure (Orange wave 1) has retraced close to the golden ratio at .618, which happens to lie on top of the 100MA, we see confluence in several indicators for a continuation upwards. RSI broke up from downward resistance MACD & Histogram pointing towards the end of the ABC correction and a continuation upwards Volume is starting to come in and we are seeing a bullish engulfing candle about to close Targets (mid term) = 32 / 40 USD SL 12.5 USD as invalidation of this idea Safe trading! Raul
KRAKEN:REPUSDLong
by RauldaCool
WILL LITECOIN BOUNCE HERE OR GO LOWER?Hey Everyone, A quick look at what is happening with Litecoin as I have had a few requests around the place, so here it is.... The Global Market cap has almost halved since December 2017... but LTC has fared far worse, at one quarter of the price it was at the ATH (All time high). The reason is also there are so many new coins and tokens all vying for that piece of half pie that many coins like LTC are struggling to keep up. We are about 6months into this bear market... how low can we possibly go ? Price is currently sitting on the 0.78 Fibonacci retrace line, although while we may get a small bounce here, I believe we are more than likely headed much lower to the 0.88 Fibonacci which is around the $45.00 mark. which is almost one tenth of the ATH price tag! Let's hope we see some money coming in soon, and the market pick up and go back in the right direction... the mood everywhere is of deep depression.... Hopefully by the 0.88 Fibonacci the smiles will be back! So for now... Safe and happy trading! REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!! <3 Lisa DISCLAIMER: The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons... PS make sure you give me a like, that way you get updates as I post them.... :) <3
BITFINEX:LTCUSD
by LisaNEdwards
14