Updating this chart from December, cleaned it up a bit and added the pitchfork.
3d chart...price at critical support, if it holds (I think it will) then I'm still looking for a huge move up for wave 5. If we start to close candles above 0.02 that will be the first confirmation...0.026xx will be the second. Beyond that and it means we are going much much higher IMO. Gluck.
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Weekly chart...would you short this? I sure wouldn't.
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Looks like we are about bust through the first key level of resistance at 0.02...the next two levels are even more important (0.024xx and then 0.027xx)...if and when we break through there it's pretty much blue skies IMO. Modified the pitchfork a tad to use candle closes at the top as the median line captures prior price action better.
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1h chart...just a guess of how things could play out.
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Perhaps something like this...
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3d chart...still expecting this to get going soon enough...if alts finally start to recover should be now : )
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forgot the chart lol
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Histogram purple line should really only catch the most recent 3 higher lows
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Potential inverse h + s in the works...capitulation finally reached?
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Market cycle complete?
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Could it be?
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Update. xmr/btc 3d line chart. Patience.
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It looks like waves 1 and 2 (of a greater wave 5) are likely complete. Wave 3 should take us into new ATH’s and will likely be the strongest wave.
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I'm thinking something like this, 1d chart:
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Update. Breaking the late August low means the count must be adjusted a tad as 2 can not go below 1, but it doesn't really change much in the grand scheme of things. Idea is the same.
you expect it goes above 0.033 when it has tried 3 times?
ltc-joe
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@Tangent1, yes that it is still what i'm expecting...in my view the fact that it has tried 3 times is bullish not bearish. It's pretty rare that a market will allow you to exit at the top 3 or more times...they are usually not that accommodating so IMO that means the top is not in. Every time resistance is tested it get weaker, if we evren start to come near those levels we should blast through. We shall see.
Tangent1
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@btc_joe, in that has to touch bottom three times to not be a triple top
ltc-joe
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@Tangent1, if u want the bear perspective it would be that we had sharp first top and a big round second top which would represent an adam and eve top pattern...but here's the thing--if you look back to the end of wave 3 and how it goes into wave C of 4 on the 3d chart you will notice it's not all that dissimilar from we are seeing now, and that fractal resulted in a rally. So yes I don't think we have seen a top and are going higher (potentially much higher) but we shall see.
michael99
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what do you think the high xmr/btc price will be in 2018?
ltc-joe
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@michael99, given we break the two stated levels of resistance mentioned...it is shown in the chart. I believe we will touch the median line of the pitchfork, probably around 0.08xx depending on how fast we reach it.
Duffy08
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Weekly chart flashing bottoming pattern as well....all depends on BTC though. BTC stays above 6k...the bottom is in for XMR for sure.
thank you for your insights!