Inflation hike and the raise of the intrest rate of 50 basic ponts gonna stronger the Dollar and gonna provoke a flash crash in all crypto assets!
Cronos chart shows us a Dogie with volumes! I made some wave model and We can see a clear spring/fake out! All this is indicative to concider a lazy growing cicle!
The ending correction of the 5th impulsive wave! Take notice that the most regular zone of correction is 0.5-0.617 of FIB levels!
Dogecoin Elliot waves for mid-term, probablly gonna see the retest of the lower zone!
Cronos Still very Bullish Long-term! Probably final shake-out to that 3-4 cents levels to take part of that huge amount of liquidity! And the final 5th wave gonna take place!
Wikness in the chart and we going for that liquidity sip down to my markt zone! After we have good possibilities to hit thas 12-14 cents!
Impuse to that 1300-1320 zone! High probability of reaching the 1.2 FIB level
Shortterm I expect an impulsive action to about 9-12 cents that should be an shake out in the 4th wave and after that the ending descending impulse to that 2-3 cents!
Weakness in candlesticks and bearish divergences in 1 hTF
Technical analysis and Waves! Some FIB for the entry and exit
Weekly TF bullish divergence could even take as arround that 10 cents levels again!
Better explanation of my idea of the Cronos Bullush sentiment! It seem the acumulation is still in!
After all this FUD of Crypto.com that was totally unbased and spread by CZ and his usefull idiots across the globe ( in my humble opinion), Cronos keeps building and it seems to me that we are staying in a big accomulational phase! The macro environment still not very healthy so it could take some time, thou!
After the crash of the market bacause of Alameda and FTX I rebild the drawings and the possible figure it's even more beautiful!
With the uncertanty in the markets some ALTCOINS are experiencing a pretty good growth! Here an idea of a POSSIBLE Inverted Head & Shoulders formation with the explanation of the growth! The figure is not formed still and we need to see the complete formation of the right shoulder!
As FED raised fear of economical decline we can go visit the 300 Weeks MA and hopefully start the accomulation phase there!
Let's see if crofam can brake 0'20 resistance! If Bitcoin stay calm Cronos could see a 10-15% increase!