If my wave count is correct, an exciting time has begun for the cryptocoins.  Bitcoin is likely on a path to ~ $5000 and Ethereum on a path to ~ $850.  My guess is that most of the altcoins will eventually join the party as well.

XBT

XBT is retracing a bit as traders long from $1850 take profits at the ATH.  ($900 per coin in 3 days.  How sweet is that?)  Retracement could go back to ~2555, but my advice is to be watchful because I imagine we will be looking at that 3rd arc ~$3600 in fairly short order.

ETH

ETH has been slow to join the XBT party, but I am of the opinion that will change soon.  On the short term chart (not shown) the chart is trying to penetrate 5th arc resistance as there words are being typed.  Target is ~$850

LTC

Traders active within the GeometricThinking chat group were advised beforehand that today is an astro-related energy date likely to propel LTC higher.  This date was highlighted weeks ago.  And today has indeed been a launching point.

XRP

As discussed in LTC’s case, XRP has been identified as a coin to watch as it has an astro-related energy date tomorrow.  My guess is that you will see a long green candle on this chart the next time I publish.

Happy trading!

 

Remember:  The author is a trader who is subject to all manner of error in judgment.  Do your own research, and be prepared to take full responsibility for your own trades.


2 Comments

Matthew Cook · July 23, 2017 at 6:27 am

Hey Jim,

What is the time horizon for the Bitcoin and Ethereum targets?

    Jim · July 23, 2017 at 8:59 am

    I am not sure. But, if my wave count is correct and a wave 3 has begun (I’m not 100% sure – it could be a wave 5) then the rally will be explosive. if its a 5, then it will likely be decidedly less so, though a new ATH is likely in either case – soon.

Leave a Reply

Your email address will not be published. Required fields are marked *