Major ALT CC's Update
BCH
Lost its identity and doesn't know what it is it. Some time it acts as a negative proxy for BTC, some other time it moves together with it. The hourly chart demonstrates this indesisiveness
https://www.mql5.com/en/charts/7972288/bchusd-h1-simplefx-ltd
The daily chart is not that messy but still does not offer a lot. BTC has bounced from its down targets but still miles away from its up trigger level @ $1710
https://www.mql5.com/en/charts/7972323/bchusd-d1-simplefx-ltd
ETC
Has gone way overstretched to the upside and needs a healthy correction. Then it should continue to a minimum of $35
https://www.mql5.com/en/charts/7972370/etcusd-d1-simplefx-ltd
ETH
As per my market update of 5 days ago (https://tinyurl.com/ycnra5yp) we reached my minimum target. So far we are also within the scope of presented 5 days ago EW count (https://tinyurl.com/ybu6eykl) now correcting in the wave 4 of higher degree cycle. The correction may eihter last to the middle of December or relatively quickly bring us all the way down to $400 level.
https://www.mql5.com/en/charts/7972459/ethusd-h4-simplefx-ltd
LTC
We have reached my minimum target of 5 days ago (https://tinyurl.com/y9mz46cw) and now are in the correction mode together with rest of CCs. The minimum correction target reached.
https://www.mql5.com/en/charts/7972616/ltcusd-d1-simplefx-ltd
XRP
has almost reached its correction target
https://www.mql5.com/en/charts/7972639/xrpusd-d1-simplefx-ltd
hey srezz, what do u think about IOTA? (only TA)
i can remeber that u said a couple of months ago that there are not enough chart-data to make an analysis. is it possible now? thank u
There's not enough trading history for the technics that I use.
thanks for answering my question. whats the timefrime u need in general to make analysis?
For the charts to have good predictive value there has to be a trading history of at least a couple of years.
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STOPThanks Srezz, can you please confirm, if it is a trend reversal or just a correction ? Appreciate your help.
For the trend reversal, we need a weekly close below $6450
Thanks Srezz for the update
Thanks for the insight. As BCH is now below the lower levels defined in your chart, do you see further downside for BCH short term as a high probability or is it just too unpredictable? For me it seems completely unpredictable.
This is what's to expect within the next 12 hours.
https://www.mql5.com/en/charts/7979098/bchusd-h1-simplefx-ltd
Thank you for your response. I really appreciate your insight.