ABCDE Triangle Correction Major Swing Top Hit?
Possible Symmetrical Triangle formed at the bottom of an overall bearish trend. A break of the triangle downwards would lead to a continuation of the bearish trend towards $10.
ABCDE Triangle completed! Targets after we break the upsloping line are between 41-50 USD! Golden .618 Fib on this chart (Kraken) is $50.20 and on Coinbase it is $47.47! I believe ETH pumped this entire market up more than anything during the 2017 Bubble as everyone had to use it to buy mostly SCAM ICO's and also it was a major trading pair for ALTs other than...
Inverse chart Corrected to the .776 New Channel possibly formed? Next targets of the channel are at 5469, 4389, 3156 (double bottom) Halving is the blue vertical line
As you can see from the previous bull market that we corrected in a massive ABC pattern with a 1:1 extension of the A wave to the C which led to it being hit and then a true capitulation wick followed! I expect the same for again! The 1:1 extension of our current A wave to the C would put us at around 2200 USD with a true capitulation wick of the same percentage...
ETH still headed for the .618 Golden Fib at $47.47
Bullish uptrend with an ascending triangle formation! Target $2796
Here is the other potential scenario for the Alt Coins! 12345 Impulse off the low followed by the AB corrective Waves and now starting our C wave to 29 Billion!
Alt Coin Market cap still looking at a 86% drop to complete the C wave!
Bull flag up to the .618 Fib at $8916 then a drop to the .618 Fib Retrace of the entire impulse to $7486!
-12345 Impulse Waves completed -200 day MA broke through (Fake out?) -Looking for support on 200 Day MA first then the .238 Fib (Green Line) if broken -If .618 Fib (Gold Line) broken we are dropping to low 5k region
I believe true capitulation has not happened yet and that we are set to see new lows!
-Rejection from 200 Daily MA -Drop to bottom of descending triangle -Lower high after lower high -Eventual drop from the floor of the descending triangle to new lows
We are in a very steep rising wedge pattern with a potential break down to the .618 Fib which is the measured move area of the wedge at 7280 USD! There is a bunch of confluence in this area right now being at the very top of the monthly descending channel we are in which is also the golden zone .618 retrace!
Took this Fractal from the previous bitcoin trend and thought it was interesting! We would break out of the descending channel and hit the measured move before heading back down for a double bottom!
Rising wedge 12345 Impulse complete ABC Correction Started Target is the .618 around 7250
It looks like we may have hit the end of the D Triangle wave and are now headed to the E of the .618 Fib before the break down of this Corrective Triangle to around 9-10 USD!
Bitcoin target at the .618 Fib has almost been hit and then I expect a cross of this parabolic curve followed by a major pullback!