Given the slope, it doesn't seem to be wave C of a flat -> more downside in perspective
1) Rather clean impulse from the low 2) Clean break of the #elliottwave channel 3) Move down from the top looks impulsive (at the difference of many other alts).
Really looks like we're set to take out this ATH
Hidden bullish divergence as on every altcoin right now
0.618 retracement levels waits at $480
1) I see hidden bullish divergences on every alts on high TF. 2) If altperp is in a bullish triangle, then it's going to spike about 100% from there (see chart linked below 👇) 3) The fib retracement on ETH from the end of wave E of wave 4 is 0.618, so it could easily be a wave 2 of wave 5
I'm considering both these options right now on #ALTPERP If left option, then majors alts might finally have their moment to shine after ranging forever. Both options are medium term bearish though.
To be fair the move to the downside doesn't look super impulsive so far. Not looking for longs anyway
Well, nothing too surprising, in fact, pretty much exactly what was expected. We completed a clean 5 waves count to the upside, and we are now in a downtrend after breaking the impulse channel to the downsideBot the best place now to enter short, but i think we will eventually see more downside. See charts below 👇
Not a good time to be a bull is you ask me. We warned you about a potential ETH top for a long time...See all the charts below 👇
Possible EW count which has us going one more leg up. Neutral, since i can see a bearish case on other coins
Just my 2 cents 🙂
Spotted the top quite nicely (check related idea). It looks like there's much more room to drop, even in the bullish scenario
Very hard for me to see this as impulsive.
Small TF, i could easily be wrong