When we talk about bitcoin, we had this Elliott wave drawn with pink. Using this we wanted to follow the 5 red waves but unfortunately we only reached the 3rd one because of the obvious ABC wave’s decrease. Between the values of 15440 and 15600$ we can see more stands as well as support levels which if we come to think of, it’s not much of a surprise that we got here , though the forecasts showed differently but with this turn, reaching the target level might take a little longer.
ABC waves are useful in this case because it will give us an image on whether the expected prices will rise or fall. In our case we should expect an increasing ABC wave. This one should be a lot smaller than the before one and is should be followed by a decreasing wave which basically shows us that if a sudden rise will not appear we will most certainly sit between these waves for a couple of days.
https://www.tradingview.com/x/ehae5E18/
When it comes to ETH the final score fits our predictions so basically if it won’t reach the a, b, c, d, e rising streak we can expect a possible breakthrough at the D point which happened now considering that a further rise will not happen in which case we can close our Elliott impulse.
I personally will close at this point and I would reconsider it in case I’d see an ABC correction or a rise above our current apex meaning it will rise above 1227 dollars.
https://www.tradingview.com/x/2bVJr4AF/
XMR’s price is reaching it’s correction level, that we plan represented by the ABC wave so while this might represent a decrease for some coins such as ltc in our case helps the correction above mentioned. But while we are just closely watching this decrease because we do not plan on selling all we can do is wait for an increasing wave. Now, if we’d know for sure that this certain we would most probably get in but we only do such in case an increasing wave is followed by a correction and afterwards it starts increasing again.
https://www.tradingview.com/x/1LEs7v4d/
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https://steemit.com/crypto/@cryptoparaszt/picike-poloniex-koerkep-01-08
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