#BTC = 4 Coins – Possible Shapes + Musings = 15.06.2021 #Bitcoin $BTC #Ethereum $ETH #Cardano $ADA #Litecoin $LTC #investing #charts #ElliottWave #trading

This post compares 4 coins and projects the possible shapes from Elliott Wave perspective. As all coins seem to struggle with strong rallies, I tried to compare them by possible shapes that they could complete in the next few days/weeks. The goal of this exercise is to find the commonalities among different cryptos and project the direction.

The musings below are supported by technical indicators and candlestick patterns.

  1. BTC is possibly trying to complete wave c of B. The target 48k-51k is perfectly supported by two different Fib ratios. However, the wave could become truncated and could possibly complete as a diagonal. In this case the target would be 41-43k.
    The current shape is no longer a triangle.
  2. ETH and ADA waves seem to still be shaping as triangles, the more extended ones. Until the price stays within the boundaries, the triangles are the main operative counts for these coins.
  3. LTC looks like a very shallow flat. Wave c of B is possibly underway and it looks like an ending diagonal so far.
  4. If the shapes are accurate, they don’t look completed and would require 3-5 or more days to complete. I would expect a wave down after completion of these shapes.
  5. In case of a strong rally (low odds for now), the shapes would have to be reconsidered.

If you find this exercise beneficial, please let me know and I will try to continue it on a daily basis.

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