BCHUSD - Long Term PredictionOn a lower degree, I posted earlier that we're most likely heading up into a third wave. This was, however, on a lower degree. I also wanted to take a look at the bigger picture since the hardfork of BCH. I believe we have finished the second wave and have started into the third wave on Cycle-degree. That would mean we're presently in wave 3 of a wave 3, so I am expecting an interesting period ahead.
Extending on Cycle-degree, the target for this wave 3 would be upwards of $4.200.
Usual disclaimer: Only idiots blame other people for their own mistakes and actions. 'Nuff said.
Third
Long Term S&P500 UpdateOn the weekly chart, it seems as if we are approaching a top that should give us a reasonably substantial correction sometime during 2018. However, on the shorter term, the market it still pointing up, and therefore, is still good to buy on intra-day and intra-week swings to the upside. Historically, the market finds some kind of resistance when approaching round figures such as 2700 and we must be careful when buying around these levels. It would be a bad idea to start looking for bearish trades before the market gives any evidence.
Overall, I am looking for the market to top out in 2018 and retrace but I expect this bull market to continue and by 2019, we should have new highs depending on the duration of Primary 4.
Litecoin: Bullish Breakout Confirms Bulls DominanceLitecoin bounced from wave II/b as we projected in our earlier update, broke channel resistance and now we expect a wave III/c to the upside with first potential target arround 70 level and 61,8% Fibo. lvl. If goes above this level, then we expect 3rd wave, which means much higher.
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And boom goes the dynamite!My previously published chart called that a series of 1 & 2 waves had developed. Price looks like it is now dropping in third wave fashion. There's as slight adjustment to the count which makes this wave (3) of ((3)) of iii of (iii).
In the news: Bitcoin Miners Miss the First BIP 148 “Deadline” bitcoinmagazine.com
but, price was already dropping... it's as if markets are irrational and driven by a "social mood" or "crowd psychology" rather than exogenous causes like the news ;)
BTC / USD in Potential Wave [3] - Updated ChartA quick update to my wave count posted about two months ago. I modified the timeline of the labels - price targets remain the same. The sideways movement lasted longer than I had anticipated. Price stability in the low 400s area created a nice base for the recent rise in price.
Review the old post on cryptowaves.com for detailed commentary. Note that I changed the labels slightly in the updated chart I posted today because I had a mistake in the labeling of the wave degrees in the post from February.
cryptowaves.com