Analysis

[dmwardjr]

I am curious where do you see ltc/btc ratio longterm?

This may seem like a "busy" chart to you:  LTCUSD (top); BTCUSD (middle); LTCBTC (bottom):  I have not done the math of BTCUSD and LTCUSD price projections to see what that would equate to for LTCBTC.  But this is my estimate...

Reversal to upward pressure COULD begin as soon as May 27th but may not see reversal until a couple of days into June.



Bitcoin/USD - Bitstamp:

[figmentofmyass]

"Hy чтo, тpeyгoльник в чeтвepкe и нa 10к$?"

Google translation: "What is the triangle in the four and $ 10k?"

trying to decipher his words is always tricky, but i think i understand what he means.

a wave 4 triangle, followed by a final leg up to the $10k target. it seems very plausible to me. in EW terms we should be in wave C by my count.

something like this:

[Biodom]

I am curious where do you see ltc/btc ratio longterm?

This may seem like a "busy" chart to you:  LTCUSD (top); BTCUSD (middle); LTCBTC (bottom):  I have not done the math of BTCUSD and LTCUSD price projections to see what that would equate to for LTCBTC.  But this is my estimate...

Reversal to upward pressure COULD begin as soon as May 27th but may not see reversal until a couple of days into June.

img snipped

Bitcoin/USD - Bitstamp:

Something like your green line is my favorite scenario as well.

[dmwardjr]

I am curious where do you see ltc/btc ratio longterm?

This may seem like a "busy" chart to you:  LTCUSD (top); BTCUSD (middle); LTCBTC (bottom):  I have not done the math of BTCUSD and LTCUSD price projections to see what that would equate to for LTCBTC.  But this is my estimate...

Reversal to upward pressure COULD begin as soon as May 27th but may not see reversal until a couple of days into June.

img snipped

Bitcoin/USD - Bitstamp:

[img]https://www.tradingview.com/x/f1kaZFMj/[/img

Something like your green line is my favorite scenario as well.

I'm leaning more towards the Green Trek as well.

[Andergriff]

@Wanga, 22 May

Hy чтo, тpeyгoльник в чeтвepкe и нa 10к$?

translate:

Well, the triangle in the four (means: 4th wave) and to $10k?

[illyiller]

This is one of those times where I always wonder......how deeply do I respect Elliott Wave?

Wave 4s (and triangles) are penultimate moves. If you believe this is a Wave 4 triangle, then surely you should sell the triangle thrust. $10K or maybe higher, but wherever it tops, a deep correction should follow.

If we believe in EW, that is.

[adaseb]

I tried trading and learnt Elliot waves in the past but it's extremely difficult to trade it in real time. It does a great job when you are applying it in hindsight but doesn't really help if you are trying to trade and make real money.

I agree that $10K or close to $10K is on the books since it looks like we had a massive inverse head and shoulder and the neckline at $8400 will most likely break. And after that looking at weekly chart there is no resistance until $9800 area which was the bull trap of May 2018. I remember everybody assumed that it was the last time when BTC was going to be below $10K and the complete opposite happened instead, never hit $10K and stayed below it since last March 2018.

[illyiller]

I tried trading and learnt Elliot waves in the past but it's extremely difficult to trade it in real time. It does a great job when you are applying it in hindsight but doesn't really help if you are trying to trade and make real money.

I wouldn't trade based off lower degree counts. It's better to keep an active count (and also have some alternatives in mind) so you see the bigger picture and recognize when certain things are happening.....turning points (tops/bottoms), the beginning of impulsive primary waves, etc. That tells you which direction to trade in, which is vital.

Where does masterluc post these days? "Wanga?" Does anyone have a link?

[birr]

telegram and tradingview
https://t.me/bitcoin_wanga/48
https://www.tradingview.com/u/PentarhUdi/

[keystroke]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

[exstasie]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate? Two Google translates later, I still can't figure out what he means:

Do not worry, let's not go along... $8000 is not worth living.

Pokozhe-taki would never let us go by... $8000 is not acting.

This is a tough spot we're in. Technically, bulls failed and retreated into the previous range = bearish. I thought maybe his wave down to $6K was happening. On the other hand, I'm cautious to get too bearish, lest we end up doing a move like late April where the dump turned into sideways and we resumed the uptrend.

[drays]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate?

Sure

It could be translated like this:

It looks like we won't go up, just yet... [as] $8000 level doesn't hold.

I believe he thinks the upward movement is over for now, and so we won't reach $10K (his previous prediction level) without having some correction first.

[Wind_FURY]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate?

Sure

It could be translated like this:

It looks like we won't go up, just yet... [as] $8000 level doesn't hold.

I believe he thinks the upward movement is over for now, and so we won't reach $10K (his previous prediction level) without having some correction first.

Why did you give him the incomplete translation?

extasie, the master also said to buy the dip if the $8,000 level doesn't hold. Hahaha.

[whyrqa-1]

If we take into account all these statements, which analysts talked about, then we have long overcome the price level for Bitcoin at $ 7,000, and the amount at $ 200, after which the cryptocurrency market should change only in a positive direction.  I need to speak negatively, And let's wait for the results of the tour, which was discussed at the beginning of 2019.

[drays]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate?

Sure

It could be translated like this:

It looks like we won't go up, just yet... [as] $8000 level doesn't hold.

I believe he thinks the upward movement is over for now, and so we won't reach $10K (his previous prediction level) without having some correction first.

Why did you give him the incomplete translation?

extasie, the master also said to buy the dip if the $8,000 level doesn't hold. Hahaha.

Ehm... I suppose you are joking..

[Andergriff]

https://imgur.com/esPFTZZ

кxe кxe

khe khe *groans*

[Andergriff]

new post:

пpaвoe плeчo yжe cлишкoм выcoкoe, фигypa лoмaeтcя

my translate:

the right shoulder is too high, the figure breaks

[exstasie]

new post:

пpaвoe плeчo yжe cлишкoм выcoкoe, фигypa лoмaeтcя

my translate:

the right shoulder is too high, the figure breaks

Thanks for sharing. That's my conclusion too. Bitcoin invalidated the H&S top. It also broke upward from a bearish wedge yesterday. Sorry bears, Bitcoin doesn't care about your chart patterns right now!

[Wind_FURY]

I saw this on Twitter. Blue line is volume in USD, green line is volume in USDT. Is Tether/Bitfinex leading the rally again? Or do large USDT hodlers know something bad is about to happen to Tether?

Bitfinex's wallet continues to be drained, https://bitinfocharts.com/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r



l

[drays]

I saw this on Twitter. Blue line is volume in USD, green line is volume in USDT. Is Tether/Bitfinex leading the rally again? Or do large USDT hodlers know something bad is about to happen to Tether?

Bitfinex's wallet continues to be drained, https://bitinfocharts.com/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r



l

Hmm.. Why you tell "again" then? According to those graphs (IF we trust them - and thats a big IF), the last rally was almost completely driven by USD, with USDT volume being dismal in comparision.