February 2019 bottom - Market Analysis for Feb 6th, 2019

Into the Zone

We've come down into the buy zone as expected, but I do believe we need one more Nano low. Roughly $94-96 is what I have in Ethereum. Lower in the $3300 zone is what I expect in Bitcoin. Although of the two, I can more readily argue that Bitcoin has an impulsive structure off the low. If we breach $3440-60 in BTC, and $110 in Ethereum we have the first signals that a low is in. I have updated the targets for the larger swing trade on my chart for the expected levels above. All divergences are so far intact. Again, when the count was confusing at the previous third, it was the lack of divergence that suggested it was in fact a third and not our bottom. NOW we have solid technical divergence. We just need an impulse the other way to show. 

Some coins like LTC, and EOS are more suggesting that their bottom were in earlier. They did not seem to get the memo that we had a flush last night. But they also must perform to the upside. 

ETHBTC also needs one more low as shown, ideally, or we have to talk about truncation. All targets are updated to that expected low. 

GBTC got that new bear market low, and filled out the ED lower. This can clean up the chart if we see an impulse from here. I need to see a rally over $4.10 to talk about a potential bottom. with that new low, I zoom out to the bear market for a look see in this chart. 

IT HAS BEEN SLOW BUT REMEMBER VOLATILITY SHIFTS IN CYCLES. LOW VOLATILITY BEGATS HIGH VOLATILITY. NOW IS NOT THE TIME TO SLEEP. THE NEXT MOVES, WHETHER DOWN OR UP, ARE NOT EXPECTED TO BE SLOW.