Huge retracement on the whole cryptomarket comming?
Mis à jour
I tried to make a good reflection of the whole cryptomarket. I only could do this with coins that been trading for more than a year. Otherwise the chart did not work. So I made a chart with the following coins:
BTC, ETH, XRP, LTC, DASH, NEO, MONERO, XEM
If people also wanna chart on this chart use the following ticker:
COINBASE:BTCUSD*16692550+BITFINEX:ETHUSD*92862174+BITTREX:XRPUSD*38622892459+BITFINEX:LTCUSD*53927233+BITTREX:DASHUSD*7701656+BITTREX:NEOUSD*65000000+BITTREX:XMRUSD*15377976+BITTREX:XEMUSD*8999999999
About the charts
The first chart you see is on the logic alghoritme. The second one in normal view.
On the first alghoritme we see a big rising wedge! On the second one you see the beautifull elliot-wave pattern. The 5th wave or 3th wave up reached the 1.618 fibonacci level, the same level als the last crash.
I think there could be an abc-correction wave. With a total retracement of the whole cryptocurrancy market of 35-55%.
Some other information to think about. Correct me when i'm wrong!
First crash:
-20 june the total marketcap of cryptocurrancies was 115 million.
-16 july the total marketcap of cryptocurrancies 67 million
Trigger: The first bitcoin fork?
Second crash:
-1 september the total marketcap of cryptocurrancies was 174 million.
-15 september the total marketcap of cryptocurrancies was 109 million.
Trigger: China Ban?
The last and upcomming crash>
It should be time for a correction of the total market! I think there is a huge change.
Trigger: I really think the Tether usd hack could trigger a crash.
Last thing I want to say, I try to do an objective view. I believe it will happen. You don't have to agree with me, take your own conclusion!
BTC, ETH, XRP, LTC, DASH, NEO, MONERO, XEM
If people also wanna chart on this chart use the following ticker:
COINBASE:BTCUSD*16692550+BITFINEX:ETHUSD*92862174+BITTREX:XRPUSD*38622892459+BITFINEX:LTCUSD*53927233+BITTREX:DASHUSD*7701656+BITTREX:NEOUSD*65000000+BITTREX:XMRUSD*15377976+BITTREX:XEMUSD*8999999999
About the charts
The first chart you see is on the logic alghoritme. The second one in normal view.
On the first alghoritme we see a big rising wedge! On the second one you see the beautifull elliot-wave pattern. The 5th wave or 3th wave up reached the 1.618 fibonacci level, the same level als the last crash.
I think there could be an abc-correction wave. With a total retracement of the whole cryptocurrancy market of 35-55%.
Some other information to think about. Correct me when i'm wrong!
First crash:
-20 june the total marketcap of cryptocurrancies was 115 million.
-16 july the total marketcap of cryptocurrancies 67 million
Trigger: The first bitcoin fork?
Second crash:
-1 september the total marketcap of cryptocurrancies was 174 million.
-15 september the total marketcap of cryptocurrancies was 109 million.
Trigger: China Ban?
The last and upcomming crash>
It should be time for a correction of the total market! I think there is a huge change.
Trigger: I really think the Tether usd hack could trigger a crash.
Last thing I want to say, I try to do an objective view. I believe it will happen. You don't have to agree with me, take your own conclusion!
Note
Ether: $35.238.715.743Ripple: $9.114.384.654
DASH: $3.878.805.057
Litecoin: $3.860.223.225
NEO: $2.267.700.500
Monero: $2.175.599.173
NEM: $1.871.793.000
Total except bitcoin: 54.000.000.000 usd
The bitcoin dominance is 56%. So the total marketcap of the other coins should be 44%.
Total marketcap: 54.000.000.000 / 44% = 122.727.000.000 usd
Bitcoin: 122.727.000.000 - 54.000.000.000 = 68.727.000.000 usd
So the bitcoin should multiplied by 68.727.000.000 / 138.000.000.000 = 50%
The ticker code is now: COINBASE:BTCUSD*16692550*0,5+BITFINEX:ETHUSD*92862174+BITTREX:XRPUSD*38622892459+BITFINEX:LTCUSD*53927233+BITTREX:DASHUSD*7701656+BITTREX:NEOUSD*65000000+BITTREX:XMRUSD*15377976+BITTREX:XEMUSD*8999999999
I made a new and better representive chart:
Note
Look at this! We just hitted the 2.0 level and almost 10k btc price.Are we gonna see a pullback this week?
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