Bottoming Scenarios for Cryptos
What I wanted to touch on tonight is the possible scenarios in which we bottom. Right now we have two groups of coins, which are:
1) Those in the "evil" as led by Bitcoin where we may have a high B wave, then drop in a C wave before a bottom. Some of these coins include DGB, XLM, ADA, and BTS. I'm sure there are more.
2) Those in a wave 4 up, led by Ether and they need a 5th of a C to bottom, although some may prove to be leading diagonals and have bottomed. These coins are: XVG, EOS, NEO, ENJ, just to name a few.
We have a few coins which might have bottomed like ZRX and BNB, but they are few and far between.
So, let's take some alternative scenarios using these groups, and these are what we need to watch for, and I'm sure something else may be evident later:
Scenario 1: Group 1 has bottomed in a WXY or all of an ABC, and is just starting the major rally. When this group tops in wave 1 up and puts in 2 down, Group 2 will put in wave 5 down and start to bottom later.
Scenario 2: Group 1 sees that high B wave, and really flushes hard in that C, which will be a long way down, while Group 2 gets a smaller flush in that final 5. Group 2 "hangs" in a wave 4 waiting for Group 1 to top higher.
Scenario 3: Group 2 has bottomed as well and these wave 4's up prove to be diagonals not wave 4's at all. We're on our way.
Scenario 4: Something I have not thought of yet but looking :)
For further analysis, I encourage viewing the recording of today's Webinar.