Lots of consensus on the ascending triangle from fellow crypto traders. High chances of getting burn if you're in a short. Long to 160-167 . Also, $167 would be an ideal zone to position a short.
Lets see how well ETH will ride that 55 EMA in this lower time frame.
ETH looking very bullish right now. 4th wave coming down and a fifth wave going up to complete the larger 3rd wave at the 1.618 extension. Happy trading peeps.
We can clearly see that we've broken out the ascending triangle, however, we have to note that we just got rejected by a major sloping resistance line. If we don't break through that resistance, we're heading down.
Seems like we're at the apex of this triangle. We can expect a burst up or down.
Hmmm, ETH starting to look like an ascending triangle right now with . Keep an eye out for those higher lows. If volume starts to pick up and we break out of the triangle, I would set two profit taking targets at $145 & $160.
Waiting for IOTA to break this descending triangle and at the same time waiting for it to bounce off the .618 & .65 region. Hopefully, we'll see that 3rd wave up as well.
My previous count on ETH could be wrong as the fifth sub wave seems to be making a diagonal pattern. To me this looks somewhat bullish in my opinion as it could retrace to .382 level and we have the 55 & 200 EMA crossing right below, which will act as support. We could possibly see a tremendous 3rd wave up.
In my opinion, Iota looks really good for a long for wave 3. Keep an eye around the .0618 & .65 regions, we may see some fireworks on this.
XRP looks like it's going to have a break out to the down side from this descending triangle.
We're at the completion of the first wave up and will most likely hit a heavy resistance level at $127, which is also the .382 fib level. Wave 1 is currently on the fourth sub wave down and will have a fifth sub wave up. Wave 2 could retrace around $111-$112, which is also the .618 & .65 fib regions or perhaps bounce off the .5 region ( if really...
It's probable for BTC to complete the C wave up. 1) Wave 1 has finished and we are currently on wave 2: potential zone to buy in is around the 0.618 fib and .65 golden pocket. 2) Wave 3 is usually the longest and will make an attempt to hit 1.618 extension, but will face some resistance around 4000-4050 levels. 3) Wave 5 will be determined after wave 3 & 4.
If you go out further you can see that we're in a huge symmetrical triangle and doesn't seem like the end of the bear market yet. For long term investors, I see 17-20 as great entry point.
LTC had a nice short term bull run and hitting a 1:1 extension. However, I see a heavy rejection from the resistance line and the 200 EMA and expect a heavy downfall to test the previous yearly low. We'll probably see a pull back between $44-47 ranges and down we go.
Seems like we're either going to burst up or down.
Look like we're at the end of the ABC correction. Fifth wave getting close to completion. We may see a nice reversal at the end of the leg. This is my bullish scenario :)
Reevaluating my thoughts on ETH. I definitely think this is the fifth sub wave coming down within a larger fifth wave. So far I think we completed a third wave within the fifth sub wave and will impulse move up to the fib 0.382 - .618 regions. Anything further than that will invalidate my count. Looking to go long between 100-98. Let me know what you think in...
Seems that the ABC correction is complete and we've broken out of the falling wedge. Seems like a good opportunity to go long. Long entry: $107.00 - $109.00 TP1: $118.00 TP2: $127.00