STRAT possible consolidation zone

20 oct. 2017

Strat has made the classic 12345 elliot wave extension with a nice ABC retracement right under the 0.883 fib, classic for crypto. Seems to be trying to break the downtrend and enter a consolidation phase for either a possible bounce or potentially a new market cycle; time will tell for that. Under 0.00054 would be a buy, with potential bottom supports being 0.00048-43. I would consider opening a long here and averaging in those two zones if we pull back some since we are at real emotional levels where a few people might just panic sell out of fear of losing it all.

25 oct. 2017

Note

For the record this chart was drawn up when price was 120k+ and posted in a slack group for those who saw it. Went exactly as predicted :)