For the majority of coins that failed to set new highs during the recent bullish wave, it wouldn't be too far-fetched to see a nice mark-up phase fueled by smart money.
From a technical perspective the structure is all there, and from a fundamental perspective, these coins are dead... no one is watching them, talking about them, especially not buying them - the...
Loads of coins that have set new highs over the past year have not had a retracement yet, BTC, ETH, ADA, MANA, etc.
With the current market sentiment being so fearful, it's possible to see the market bounce back to the 0.382-0.618 regions as shorts start to close and bears wear off. The retracement could then act as the perfect bull trap for smart money to cash...
I made this chart for those deciding between investing in ADA or XRP.
ADA has reached its full fib extension of the bear market against the XRP price.
We have a clear 5 wave count of which wave 4 bounces on wave 1.
The ABC correction has a clear smaller ABC within the B wave, that retraces to the .702 level of the A wave.
Overall, I believe this chart has...
Assuming that we are in Wave-5 of the larger Wave-5 of the bull cycle, it appears that an ending-diagonal Elliott-Wave is playing out.
Because Wave-3 is smaller than Wave-1, we can say that Wave-5 cannot exceed the length of Wave-3 at the 2.03T resistance, as Wave-3 may not be the smallest wave.
This aligns with the full 4.236 Fibonacci Extension target of the...
On the right we have the larger ABC correction, with wave 2 of the next impulse retesting the B wave high.
On the left we have the wave 2 ABC enlarged, with an even smaller ABC playing out within wave 2 of the smaller impulse, also retesting the B wave high.
Seems like textbook fractals so far at least!
Just a reminder that the actual highs and lows do not mean too much this run.
In the May dump, some coins like BNB made their low during the first Elliot wave. Coins like LTC made a 5th wave low, and some others made a 3rd wave low.
The same exact wave count structures have played out during the September pullback, the only differences being in the Wyckoff...
XRP, along with the rest of the crypto market, may complete an ABC correction structure with a final capitulation extended wave, thus making it a 3 drives pattern.
The recovery may then consist of a third wave that wipes out the B wave high of the initial ABC correction, thus confirming the continuation of the bull trend.
A smaller Wyckoff accumulation may...
ETHBTC Symmetrical Triangle that broke higher could be forming a continuation pattern (pennant/flag/wedge/ascending triangle).
The break out of the triangle got rejected at the 0.5 fib level, pulled over the 2017 bull market.
Since we broke out of the symmetrical triangle at the 0.236 level we can also expect a pullback and retest of that level before...
