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