Wanted to just share my view on $CLOAK/BTC someone asked me a time ago about my opinion and since then I had this chart open but never analyse it until now.
At the moment we are in buyers territory, buyers came in aggressively and created a breaching point (the purple line), the guy who started it all is in the white circle. However, if we look at the momentum...
So here is something odd and impressive I found when looking more in depth at the chart of XBTUSD. I applied the EW technique and saw the 5 wave pattern, each bounced off nicely from its fib ratios, but then I get a bit more curious when trying to look at the lenght of wave 5 and its price projection, so I decide to draw a price range for wave 1 and place it over...
So here is something odd and impressive I found when looking more in depth at the chart of XBTUSD. I applied the EW technique and saw the 5 wave pattern, each bounced off nicely from its fib ratios, but then I get a bit more curious when I see that yellow line I placed that it's around the 12k resistance zone, we have not been able to cross. So then I decided to...
First Elliot waves with Fib retracement Analysis, if applied correctly Elliot Waves can be quite powerful, I expect the 5th wave to end at 7004. Also expect a retrace of wave between 0.382 (6338) or 0.236 (6230). Wave 2 is completed and retraced and found support at around 6070 or so.
