Cryptocurrency

[FrontEnder]

Stuck at a major resistance now. 8300-8400 needs to be broken. apparently that is confirmation we are back in bullish territory rather than a temporary retrace of the bear run

far too short a timescale.

[VirtualMonkey]

far too short a timescale.

have to admit that thought had crossed my mind too. rate of climb is similar to rate of descent though. nicely formed Elliott waves as well

[The Spartan]

Paging the Crypto Genius (Scooter!) what are your thoughts on ETC? Is it going to go anywhere?

[Jog On]

Stuck at a major resistance now. 8300-8400 needs to be broken. apparently that is confirmation we are back in bullish territory rather than a temporary retrace of the bear run

What timeframe is this on? This upmove looks like it has quite strong impulsive momentum which is nice, I see the next big line in the sand (on the daily chart) around 10k, but for the trend to be reversed a break of the highs around 11900 with a strong impulsive move would be needed.

I think the markets in general are more news driven at the moment however.

[VirtualMonkey]

What timeframe is this on? This upmove looks like it has quite strong impulsive momentum which is nice, I see the next big line in the sand (on the daily chart) around 10k, but for the trend to be reversed a break of the highs around 11900 with a strong impulsive move would be needed.

I think the markets in general are more news driven at the moment however.

This is what I had plotted this morning. The horizontals are where I see support/resistance on the fully zoomed out 30 minute chart

After this I read an article by marcpmarkets which suggested the 8400ish mark was the 0.618 retracement of the entire bull run that happened (he actually says full market size)
This is what I drew it at and it does match (more or less)

[VirtualMonkey]

it's a bit difficult to draw EW on bittrex but this is what I see on the latest movements

Interestingly...one of the people i folow on youtube (Heijin Lee) has impulse 3 of the first upward movement in the place where I have 5 sohis count is different to mine. We'll see what happens there. I'd be tempted to believe him over me though

[scooterscot]

Paging the Crypto Genius (Scooter!) what are your thoughts on ETC? Is it going to go anywhere?

Don't know about Genius

Holding over a 100k at the minute or there about. And for a good reason, the Callisto (CLO) Airdrop occurs sometime around March 5th. For every ETC token you hold you'll receive a CLO token. The purpose of this fork is to test an adaptation to the network, if successful it'll be implanted to the ETC network.

Part of reason why I invested in Tezos, the network can be changed through voting. With Ether you have to move a mountain to achieve the same result but not so with ETC.

[VirtualMonkey]

it's a bit difficult to draw EW on bittrex but this is what I see on the latest movements

Interestingly...one of the people i folow on youtube (Heijin Lee) has impulse 3 of the first upward movement in the place where I have 5 sohis count is different to mine. We'll see what happens there. I'd be tempted to believe him over me though

For my count i'd expect a retracement to 8000 or above now.
For Heijin's count i would think it would be 7800 or so

[Jog On]

For my count i'd expect a retracement to 8000 or above now.
For Heijin's count i would think it would be 7800 or so

Your wave 4 overlaps into wave 1, It's quite hard to do EW on shorter time-frames and especially in volatile trends. Without the waves that does look like a successful H&S formation - but on a 30 min chart it's too short a time-frame for me. I prefer daily and 4h charts to plot support/resistance levels then see how the lower timeframes react to them.

[VirtualMonkey]

Your wave 4 overlaps into wave 1, It's quite hard to do EW on shorter time-frames and especially in volatile trends. Without the waves that does look like a successful H&S formation - but on a 30 min chart it's too short a time-frame for me. I prefer daily and 4h charts to plot support/resistance levels then see how the lower timeframes react to them.

true...not sure if you ignore wicks though...if you can then my wave count is (EDIT: potentially) good.
On the daily chart you can see a great support at 8400 as well