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This forecast is based on the Elliott Wave Principle which states that investor psychology is the motor behind the stock markets. In this analysis however, the analyst not only observes the previous price patterns, but also takes into account the correlation between different pairs before releasing forecasts.

Elliott waves crypto analysis

Support and resistance system for cryptocurrency trading should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.

How I draw strong support and Resistance for Bitcoin, Ripple or Etherium.

Before I call a level strong, the same level must met the following conditions.

  1. Must have been used as a support before.
  2. Must have been used as a resistance before.
  3. There must be a big candle that broke through it at one point in the past!

Again, when drawing my support and resistance levels for crypto trading, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.

2018 BTC ETH XRP
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May

Wave Analysis During the previous trading day, bitcoin continued to plummet and is still showing signs of rallying even lower. Yesterday, Bitcoin mere;y tested the hourly support level 7304.13 but failed to violate it. For almost three weeks now, this crypto has been in a relentless downtrend and c

Wave Analysis After an unprecedented decline below 669.37, Ethereum is not showing any signs of rising again above this level. As long as the price remains below this level, we expect a possible rally to the lower side. The anticipated bearish price rally will be the continuation of the impulsive w

Wave Analysis Ripple is still rallying within the contracting wedge formation but is not showing any signs of breaking out of it. From the look of the previous chart set up and structures, this crypto could end up breaking to the lower side, and if this is the case, then we'll expect a possible mom

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