Now that tradingview has the total market cap charts it really makes things a lot easier to analyze in crypto. Shout out to tradingview.
This is a very simple analysis. Sometimes the most simple analysis works best.
We have an ABCD set up here.
If you measure the AB wave it took about 50 days or so to complete. We then saw the C wave pullback 50% in a matter of 35 days.
After the 50% retrace, we then saw another push down that was roughly 2.0 times the size of the BC wave and that also took 50 days or so to complete (CD).
This is a perfect example of a bullish ABCD in my opinion because 2.0 is a reciprocal of 50% mathematically.
Look for how the market reacts to .118 (BLUE LINE)
If we get a retest and a bullish candle close above the blue line, I'll be looking for the market to push up to the green zone.
Meaning BTC XRP and ETH (the main players) should be bullish...which all three are showing at the moment as well.
Cheers
This is a very simple analysis. Sometimes the most simple analysis works best.
We have an ABCD set up here.
If you measure the AB wave it took about 50 days or so to complete. We then saw the C wave pullback 50% in a matter of 35 days.
After the 50% retrace, we then saw another push down that was roughly 2.0 times the size of the BC wave and that also took 50 days or so to complete (CD).
This is a perfect example of a bullish ABCD in my opinion because 2.0 is a reciprocal of 50% mathematically.
Look for how the market reacts to .118 (BLUE LINE)
If we get a retest and a bullish candle close above the blue line, I'll be looking for the market to push up to the green zone.
Meaning BTC XRP and ETH (the main players) should be bullish...which all three are showing at the moment as well.
Cheers
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.