$Crypto Musings – Part 4 = 22.06.2021 #BTC #Bitcoin $BTC #Ethereum $ETH #Cardano $ADA #Litecoin $LTC #cryptocurrencies #cryptocrash

I continue the discussion on the possible shapes and patterns for BTC, ETH, ADA and LTC. They all seem to start acceleration down that is typical for waves C or 5. The targets are becoming clearer. Explanations to the charts below.

Yesterday, all 4 made almost impossible (from the perspective of candlesticks). Against the odds, they all canceled the strong potential bullish reversal candles/combos. A rare event that supports the hypothesis about overwhelming bearish forces.

Targets:

BTC seemed to have broken a classical bear flag/rectangle formation. The most typical target for the next move would be $6800. However, the Elliott Waves offer other options – $20000 and $14000. Time will tell very soon.

ETH looks more aggressive than BTC. Perhaps the hypothesis about triangle confirms. A typical triangle/pennant target – $13 (thirteen). The Elliott Waves are more generous and offer the options of $1000 or $600.

ADA‘s shape could be a triangle (purple) or a flag (red). I lean towards triangle, but this is not final yet. Target for the flag – $0.45; the triangle – $0.18

LTC seems to be the only one working on a motive wave down (this is followed from its long term chart shared previously). If this is the case, wave 5 is expected to equal wave 1. Thus, the target area is $50-15.

Let’s wait for the closures today.

To be continued…

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