Critical Levels - EW analysis

[Hope_Trader]

LTCBTC seems to be very bearish. As bitcoin falls alts with follow with great volatility.

https://www.tradingview.com/x/iJ5G7YNw/

Hey Chessnut, I know you from Tradingview

It's looking pretty bullish now, as does LTCUSD. But that's mostly just due to the bot/noob spike... what's your low targets for ltcbtc? I'm starting to think ltcbtc and ethbtc (more obviously) could really rally after this corrective cycle is done.

Was expecting 0.01 range for LTCBTC but hard to know if that's possible yet given this action so far. Also expecting massive LTCUSD sell off, much greater than BTC but again the spike may give false signals.

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[chessnut]

This impulse spells continuation of the bear market

[btc4lifer]

This impulse spells continuation of the bear market

https://www.tradingview.com/x/tJ4zbqYg/

christmas humor gets me every time 

[chessnut]

This impulse spells continuation of the bear market

christmas humor gets me every time 

This guy gets it.

[600watt]

^^i don´t.. 

[chessnut]

It looks like there is a possibility that this is a triangle completed. It would imply wave IV and wave V here could go to 40k easily. It would become the primary count after a break above 16k.

[btc4lifer]

It looks like there is a possibility that this is a triangle completed. It would imply wave IV and wave V here could go to 40k easily. It would become the primary count after a break above 16k.

https://www.tradingview.com/x/vJiybepx/

It is probably best to not call the end of a possible triangle just yet. Seems we still need more time to reset longer term indicators.

[DieJohnny]

this thread can be prophetic in so many ways

[chessnut]

It is probably best to not call the end of a possible triangle just yet. Seems we still need more time to reset longer term indicators.

Im not calling it yet, I said it would become the primary count if 16000 is broken.

It's possible that we are in a bearish wave B triangle too.

[chessnut]

Until 16000 is broken we cant be sure this is not the case.

[Ektra]

It is probably best to not call the end of a possible triangle just yet. Seems we still need more time to reset longer term indicators.

Im not calling it yet, I said it would become the primary count if 16000 is broken.

It's possible that we are in a bearish wave B triangle too.

Wave B is my instinct now. There's reluctance at just over 15k and some bearish divergences on the RSI, and lots of three waves bouncing back and forth. If so, the completed triangle could be followed by Masterluc's dip to 8-10k some time this month.

[neilol-real]

Interesting count - I'm looking for a breakdown in XRP/ADA/etc. before we see this happen. A rush for the exits could fundamentally make this a reality in such a short time period.

Chessnut, do you publish these charts on Tradingview? Can't seem to find anything updated on your profile.

[ssmc2]

Confirmed?

[neilol-real]

Confirmed?

I'm looking for the daily to close above $16k first

[neilol-real]

Confirmed?

I'm looking for the daily to close above $16k first

I'm back long, with a small short in XRP for fun

[chessnut]

This running flat indicates bearish pressure on the market.

[Toxic2040]

As always thanks for the great charts Chessnut.

I take this as a bullish dip. We needed to consolidate at some point and January historically been that point. Think its still a couple of weeks for the market to figure itself out(Feb. 1st?).

[prophetx]

updates? how low is this gonna fall?