BTC.D & How it Drives the ALT Market
Updated
*BTC.D negatively correlated with ALTS
*Wave 5-A dump of BTC.D happened when XRP pumped up almost 200% on Nov19 (Check for yourself)
*BTC.D in a large 1,2,3,4,5 ABC Elliot Wave Formation
*Now we see BTC.D being rejected at the 50 Fib level of wave A
*According to Elliot wave theory the size of wave B is either the 50 or 61.8 fib level of wave A
*Therefore potential for BTC.D to rise once more to 61.8 fib level which will cause ALTS to go down some more
*OR , BTC.D will go into wave C now which will lead to major rise in ALTS
*Alts dump related with BTC.D A-B wave
*The size of wave C is very big and the movement of BTC.D is about 4X the movement compared to major ALTs - XRP, XLM, OMG, DASH, Eg, 1% movement of BTC.D is approx 4% move for XRP
* Wait for Wave B to finish with clear red candles down towards C area, by that time you will see ALTS start to rise dramatically, thats when you get ready to long. For now you could put in some small orders on ALTS but dont go in too much yet because ALTS could fall down once more before the breakout...
GET READY TO LONG ALTS!
Out-
WineTrader888
Trade active
BTC.D likely to have begun accent down to CTrade active
Not likely wave C yet. Hold on to your horses for now. Likely to see push up towards .618 level, therefore ALTS will dump a bit more.
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