Check my previous charts for waves..... Due to BTC's bullrun, waves retraced a lot further as I expected. Right now, I'm anticipating a correction in BTC where alts could profit..... The pattern I'm seeing is more or less the same as last week, just a bit less progressive but the idea is still the same.
On smaller timeframe, waves made a pefect 5-legs up and a deep correction. These 5 waves up formed the first leg in the bigger 5 waves up (ABCDE) Based on fibonacci, I'm anticipating next top in the target box. From where we can look if a correction follows.
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Be carefull and use proper moneymanagement while BTC seems to break out right now.
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Due to the ongoing bullrun for btc, I've started to look again at some charts for alts. This would be the bearish scenario. Breaking the blue trendline opens the door to the blue targetzone.
Be carefull, trade what you see not what you think
@Stevus_, Could be....I'm not a die hard Elliot Wave follower. Looking at the bigger picture, I'm more concerned about a possible new bull run for btc right now