I am increasingly convinced that the market as a whole has turned a very significant corner.  For Elliot Wave traders, I believe that a large corrective wave has ended.  I believe it was a wave 2 for many of the coins I follow; that has strong implications regarding the strength of the next wave up.  It will likely be astonishing.  R.N. Elliott described wave 3’s as ‘awe-inspiring’ in his writings.

ZEC

zec.jpg

ZEC has finally exited the long-term big green arc.  This is bullish, despite the fact that it is testing support at the moment.  When it closes above that blue arc above, a push to $400 will likely happen quickly.

DASH

dash.jpg

DASH will encounter resistance soon ~$200.  When/if it gets through that resistance $280 will be a good target at the 3rd arc pair.

XBT

xbt.jpg

This is a 2-day chart which demonstrates that 1×2 angle stopped the last selloff.  I am now of the opinion that the low is likely in for XBT.  A close above the 1st arc is technically the buy signal, but I would not fault traders for buying here, as long as they don’t leverage here.

REP

rep.jpg

This 4 hr chart shows REP has penetrated an arc pair it is now struggling in.  The fact that price penetrated the arc already suggests the arc is weak.  Sooner or later it will likely yield.  3rd arc is in the $36 range.

ETH

eth.jpg

ETH is consolidating in a 2nd arc pair.  It may stay there for a bit, but is not likely to reverse here.  The 3rd arc is a good target~ $360.

LTC

ltc.jpg

Per this 8 hr chart, LTC has left the 4th arc in the past.  The 5th arc is the next target in the ~$57 range.

XRP

xrp.jpg

XRP has re-entered a 2nd arc pair on this 8 hour chart.  An energy point looms.  It is still questionable whether it will accelerate through the arc, or of it will stumble and perhaps test the 1×2 angle below it.  Anything can happen in an arc pair.

XLM

xlm.jpg

XLM has exited that terrible 2nd arc that dragged it down viciously.  It will likely rise to the 3rd arc.  Depending on the rate of ascent, it might hit the arc somewhere around .047, where the 1×2 angle intersects the arc.

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.

 

 

 

Categories: BitcoinEthereumZcash

7 Comments

Ole · June 29, 2017 at 1:47 am

Jim, I hope you can please add ETC next time! Thank you!

Paul Morgan · June 29, 2017 at 2:22 am

My sentiment has shifted too from bearish to bullish.

Sent from my iPhone

>

Alejandro · June 29, 2017 at 3:24 am

Do you think ETH will bounce between 280 and 315 for a few hours? or should I just buy it at market price? (currently 311) .
I sold mine at 293 thinking that I was going to be able to re-purchase it at 270-280 . but I have not been able to….

ThankX in advance

joshnj82 · June 29, 2017 at 3:45 am

What kind of paranormal trading powers do you possess? I check my inbox and see an email w/ subject, “Should be a good day for traders”. As I attempt to open the email to your post a new email arrives from GDAX and the following msg, “Dear Customer,

A credit has been issued to your GDAX account in relation to the June 21, 2017 ETH-USD market event. The funds are now available in your ETH-USD account balance”.

I have yet to read past the title and already am extremely impressed. Good call my friend 🙂

sdarby2000 · June 29, 2017 at 5:08 am

Hey Jim, would it be possible for you to post your times? It’s very hard to see the times for graphs like the one you did for LTC. Thank you! (you’re awesome 🙂

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