Market Analysis for May 9th, 2019

Having alt fatique myself and finding EW very questionable for XXXBTC charts, I want to crack signals for these charts. Internals might help a bit. The issue is HD says the method can also be questionable on mean reversions charts. Here's a take on ADABTC. I get the first warning here on April 17th. While that was already deep into the trend, and not leading it certainly suggested a down trend has started. Right now there is no sign of reversal. By my determination we need to see a strong move in RSI to oversold to start the potential. Divergence in the RSI would also help. 

This chart is now a disaster EW wise as it has retraced more than .764 of the move into the April high. 

ADABTC - Primary Analysis - May-09 1253 PM (1 day)
ADABTC - Primary Analysis - May-09 1253 PM (1 day)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.