Elliott Wave Theory Digimon ^_^
Updated
Time Frame: 4H
Pair: DGBBTC
This technical analysis is made with extra care to filter all bad noise. Basically, we have a bullish divergence on both MACD and RSI. RSI already dipped below the overbought area and is looking for a bounce upward to test 50 EMA blue and 200 EMA. As you can see, I have drawn Elliott Wave Theory based on (tradingview.com/chart/BTCUSD/DRc1DS2Z-Elliott-Wave/) and rules that I read. The C placed further below is just a potential end of Wave C. At the moment, it seems like we have a falling wedge which indicate that price bouncing up could happen anytime soon. My target levels would be either 50 EMA or 200 EMA. There is also potential for the upper dotted red line also but it is likely not to happen. There is also a red resistance line running down which we need to close above to move further to 200 EMA. A failure to close above will make the price fall down again. And also, I took a look on TD sequential also and the TD buy countdown is already near 13th candle which could indicate a reversal / pullback anytime soon.
Good luck, Request Guy!
Pair: DGBBTC
This technical analysis is made with extra care to filter all bad noise. Basically, we have a bullish divergence on both MACD and RSI. RSI already dipped below the overbought area and is looking for a bounce upward to test 50 EMA blue and 200 EMA. As you can see, I have drawn Elliott Wave Theory based on (tradingview.com/chart/BTCUSD/DRc1DS2Z-Elliott-Wave/) and rules that I read. The C placed further below is just a potential end of Wave C. At the moment, it seems like we have a falling wedge which indicate that price bouncing up could happen anytime soon. My target levels would be either 50 EMA or 200 EMA. There is also potential for the upper dotted red line also but it is likely not to happen. There is also a red resistance line running down which we need to close above to move further to 200 EMA. A failure to close above will make the price fall down again. And also, I took a look on TD sequential also and the TD buy countdown is already near 13th candle which could indicate a reversal / pullback anytime soon.
Good luck, Request Guy!
Note
Considering the fact that almost all altcoins drop below 0.78 fibonacchi retracement level. I would say that around that area is the final wave.
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