ALEPHIUM PLAN FOR FIRST PART OF SUMMER
Hi everyone, i know i haven't posted any ideas in a very long time but i decided to do this again, this time however there will be at least 5 new ideas every week.
Today's idea is about Alephium.
As we can see Alephium just completed a 6 month long Elliot Wave Cycle which brought the price from $0.414 so $3.829 ( +2500%) followed by a retracement back to $1.476 (-60%).
The A, B and C waves formed a Zig-Zag Corrective Wave (each one with it's subdivision 1-5, a-c, 1-5) and the recent formed leg up is in my opinion a X wave which will lead to another Corrective Wave which cold be a Flat, Triangle or another Zig-Zag, together forming a Complex Corrective Wave. Judging by the RSI oscillator it looks like it wants to go up or at least consolidate and keep the price in an accumulation zone (medium bullish divergence) until BITCOIN gets to a new HH and takes the last top as a support (altcoin season). I think that in order for an accumulation zone to form we should expect to see a Regular Flat where waves B and C will retrace and end near the top and end of wave A. However, I won't be surprised if the price will go a bit lower (another Zig-Zag or a Descending Triangle) because BITCOIN just started pumping again and we know that only a few altcoins perform well when BITCOIN pumps.
I hope this idea will give you a good perspective for the following month!
Today's idea is about Alephium.
As we can see Alephium just completed a 6 month long Elliot Wave Cycle which brought the price from $0.414 so $3.829 ( +2500%) followed by a retracement back to $1.476 (-60%).
The A, B and C waves formed a Zig-Zag Corrective Wave (each one with it's subdivision 1-5, a-c, 1-5) and the recent formed leg up is in my opinion a X wave which will lead to another Corrective Wave which cold be a Flat, Triangle or another Zig-Zag, together forming a Complex Corrective Wave. Judging by the RSI oscillator it looks like it wants to go up or at least consolidate and keep the price in an accumulation zone (medium bullish divergence) until BITCOIN gets to a new HH and takes the last top as a support (altcoin season). I think that in order for an accumulation zone to form we should expect to see a Regular Flat where waves B and C will retrace and end near the top and end of wave A. However, I won't be surprised if the price will go a bit lower (another Zig-Zag or a Descending Triangle) because BITCOIN just started pumping again and we know that only a few altcoins perform well when BITCOIN pumps.
I hope this idea will give you a good perspective for the following month!
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