we need to keep an eye on the cloud, its acting as great resistance.
compared to ADA from last season, it looks like we are in the 1st wave ..
last year XLM/USD had a major pump, specially after the announcement of the IBM partnership. this year a partnership for XVG is about to be announce in the coming days .. if this correlation is right we might get a massive pump that will take XVG to a price close to a 1 USD.
if BTC keep paining these wedges to 4000$.. this might be how things go
everyone is talking about BTC goind down to 4000$ b4 we get a huge bounce, this is the scenario of that bounce, and it manifests a 3 impulsive waves down, fulfilling a 5 Elliot waves down
after the wedge breakout, a retracement to 0.38 Fib is expected that would be 8500$, then we have to see how the price reacts, if the bear market proceeds a move deep to 5600$ could occur.
maybe an indicator of a bottom, or we might have a close bull trap coming
if we break the 1D cloud up .. would be EPIC
if things escalate down this will happen
we need to keep an eye on this
if this count of 5 EW is right .. then we will not expect a big wave of reversal till mid MAY with a bottom of 4000$.
i think we have been over the log line for a while i just noticed that ..