Update before 10 days pause

Let us analyze today according to the capitalization.

BTC. Our previous expectations were mostly focused on the upside. We had good reason for that based on Elliott Waves count and also on sentiment (which was long time pretty negative). The sentiment has though increased after the last rise but is still ok. The Elliott Waves pattern, however, has now few different options:btcusdmidtermIt is easy to recognize the series of 5 waves down (from 17-th of October at $644). We should give some time to the market to reveal the current pattern. At the moment it can become anything: fully developed 5 waves move down, double zigzag (if we stop at around $624) or something else which isn’t yet visible.

It is pity that the author won’t be able to follow any markets for the next 10 days. The current structure looks indeed very interesting.

ETH. The dump stoped and even reversed. (Not at the level where we expected it to happen).However, the structure of the rise doesn’t look bullish at the moment:ethbtcmidtermThis last small rise looks more like double correction. Or, as in a chart above – double zigzag + triangle + (normal for the case after the triangle) strong rise. If this last pattern indeed what is under development, then we should expect one more rise to around 0.02050 and then the new series of drops.

read what the author wants to happen to ETH and also about XMR and REP

The trend is your friend

Though it is not the most pleasant news for us, ETH lovers, there is little reason to change the predictions we are following lately.

BTC up, ETHBTC down.

ethbtcmidtermSlightly below 0.017 there might be at least a temporary stopping point. That will be 1,618 extension of the first decline wave. We will check the sentiment at this point to see if there is a chance for a sustainable rise.

read also about Monero (XMR) and Augur (REP)

ETH, BTC and XMR in our strike

First, short follow-up on our last analyses.

BTC as expected keeps rising. The test of $700 seems to be on the book and should bring more food for the sentiment analysis. For the moment it’s clearly heating up, the author would put it at around 55 % now. Most probably we will see the top when either the Bitcoin ETF will become “the news for everyone”, or some other positive message will arrive from the BTC land.

XMR would ideally make one more law. The sentiment there is still not “absolute capitulation”, though we are very close to it. Bad news are coming (and this is a good sign for the bottom): scam exit from one of the dnm (dark net market), other anonymous payment project (ZCash as the newest one) are gaining traction. If the author will be able to recognize 5 waves up on a smaller scale there, expect the next attempt for a long trade with clear stop-loss.

Now, our beloved ETH. Or, is it still beloved?ethbtc

read more about the ETH

Awaiting positive news for BTC

We didn’t talk for quite a long time about the Bitcoin.

If author remembers it right, in the last post we were awaiting the rise towards the 690 USD at least.

It is not that far anymore:btcusdlongThough there is never a 100 % secure and sure prediction, the path of the least resistance for BTC is up right now.

The author would expect some good news coming out now, be it SegWit or some smart contract platform for the Bitcoin. As these news will start coming, expect the sentiment to heat up and then we will start looking for the next top (as we did it at the last top during the halving event).

hey, we also talk again about XMR, read more