Over a year consolidating in an what I would say is a an abcde triangle for wave 4...hmmm...big wave 5 on the way?
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Hoping to see a bullish golden cross on the daily chart within the next week or so. Things should really get going after that.
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1h squeeze?
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Aaaand there's the golden cross!
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How i'm looking at the count right now (4h chart)...I think we either just finished the 2nd wave of 5 and are about to start the 1st wave up of a big third wave....or we have already started the 1st wave up of a big third wave. Its very confusing I know...if you don't get it just go with it for now : )
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Think this makes the most sense
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If this is correct we are preparing for a BIG move up : )
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Yep 1-2 1-2 1-2 should get a 3-4-5 3-4-5 3-4-5
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Revised count (wave 2 took longer in all the crypto carnage)
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Perhaps one more dip here before lift off?
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Could that be it?
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Pop! When we break the dotted trendline this should get going...
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As I pointed out on twitter...1d bbands coming in (and 3d as well)
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breaking this level now...looks like we are going to .026, probably .023 before higher
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If the 50 ma (around .026) does not hold (decent chance) then we should go to the green box (the bottom of which is also the 50 MA on the weekly chart)
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Taking into account ugly candles that are about to close on the daily/3d most likely scenario in my mind is we will reach the green box (50 day ma likely will not hold).
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Also this looks like an expanded flat correction to me:
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Hmmmm some looks like a bounce is coming...could be all, but what scares me is this so keep it in mind:
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Wow great 4h candle. Decent chance we have seen the worst, but until we get back above wave 1 still a chance at new lows (we never touched the 200 MA on the daily)
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Bearish divergence on 4h stoch rsi...hmmm could be time for that next leg down if the daily candle gets rekt
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Hmmm that could be all the down we get for now...something to consider though is that was all wave 3. Until we get back above .029 or so be ready for another leg down. Gluck!
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Looks like bounce complete and we're ready for last leg down:
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daily on the left 4h on the right:
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actually its the *6h chart on the left sorry
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Finishing up wave 4 of c?
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12h chart...looks like a clear bear flag to me which would give even more confirmation to my wave 4 count if we break down here. Initially my targets were int he low .02xxs as mentioned and shown, but considering the length of the pole we now have a lower target (shown with green box). This area is a huge confluence of support... the .786 fib/ascending triangle trendline/1.272/382 fib extensions of the last leg up.
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hmmm maybe i was wrong. If we start closing candles above .03 we have probably seen the worst.
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I think its safe to say we have seen the worst, while it could just go straight to the moon more likely we'll get real nice pull back either soon or around ATH's since things are a bit overextended. Just something to be aware of. Maybe it will be once bitcoin gets going and XMR meets resistance in the low 300s? We'll see. Nonetheless the big picture is still fully in tact, big potential here.
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Looks like the correction has begun…if really is first wave up this can correct as far as 50-78% and still be valid. 1h chart:
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While this is what i'm expecting if we do break above the red dotted line, then .03 it's possible she is already ready to go. Gluck.
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Kissed the .786 could bounce here...
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Looking great, lots of bullish signs here:
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Went a bit lower...that's okay. Good time to buy more and improve your cost basis. Pretty much will stay bullish until/unless it looks like we will close a daily candle beneath 0.0235-.024.
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Seems like it's now or never...I think now.
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Please sir pamp it for mi familia
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Zooming back out...
This is what i'm expecting if break ATH's. While it's is very optimistic it makes sense to me...the price spent *over a year* preparing for a big move. Do you bullieve?
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slight change in the count (pragmatically makes no difference)
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Bull divs errywhere on the daily...shoudl bounce hard if its going to get going
6h USD chart...beautiful head and shoulders pattern says we are ready to go
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Welp, lower lower lower LOL...hang in there guys, the correction is near complete if not already complete IMO. If you want to have a laugh go back and look at my ltc charts from years ago, I was the biggest moron on the planet until I wasn't lol. Of course it's possible I could be wrong and the price could go much much lower, if we start closing candles below .015 I will probably throw in the towel on this one but I really don't think that's going to happen. Good luck and remember never risk more than you can afford to lose.
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Forgot the X and Y labels:
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Looking good, should at least bounce here and *potentially the bottom is in.
huge accumulation going on over at poloniex right now for xmr/btc!
Duffy08
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Like this chart. Been bullish on XMR (one of the few non-scam coin alts) for a while. Does this market reset change things or do I continue building position?
ltc-joe
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@Duffy08, Not sure what you mean, another correction? Possible but I think the correction was earlier today hahah, not sure there is much left. Looks to me like the train is about to leave the station.
ltc-joe
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@Duffy08, Oh does the correction change things...no I don't think so, if anything it reaffirms them. Price tested former resistance, made it support, and now if it breaks .025 should start to get going...
naldo
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Bought a bag of this bad boy today. Good Luck!
knucklesandwich
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well that would be life changing lol
ltc-joe
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@knucklesandwich, who knows, seems insane/ridiculous now, but the target is just what the math says : ) We shall see.
TraderT33
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Great last chart, truly nice analysis and I think you are right!