We've hit the peak of the spread chart and cycles are lining up with the 5th wave of
BTCUSD. A possible pivot shift coming very soon. BTC is way too high to buy right now.
Once BTC breaks down, we may find many traders switching to altcoins.
ETHUSD is approaching the end of its triangle wave, while
LTCUSD is on solid support.
Once BTC breaks down, we may find many traders switching to altcoins.
Note

Just posted a new idea. The reason we can't find the best Elliott wave analysis is because it is ranging within a .382:1 ratio of the high/low spikes. I'm now considering the FIB. range posted as one FIB level. There is a lot of rocking between fib levels but the center is 57.30. I'm waiting on consolidation at one of the fib. levels to confirm this idea. A good indicator is looking for low volume and very low price changes. We are talking possibly days and weeks here.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.