Ethereum Classic recently rose to $39 and is now undergoing a correction.
From a chart perspective, the $24.5 level is highly significant.
This is because I believe $24.5 marks the starting point of a new wave.
If Ethereum Classic does not drop below $24.5, I anticipate a potential 3-3 wave #upward movement.
In the short term, a #risingwedge pattern is forming.
I am unsure whether this indicates an impulse wave or if there will be one more wave down after a fourth wave correction, but it seems the correction might be nearing its end.
As long as the price does not fall below $24.5, I expect a significant #upward movement.
#Bitcoin Chart Analysis Today, my thoughts remain divided between two perspectives: I’ve prepared one #bullish scenario and one #bearish scenario. 1. #Bullish Scenario - The previous upward movement is viewed as an impulsive wave. - The corrective wave is being considered as a WXY pattern, specifically a 335-X-535 wave. - If the $95,600 support level holds, there is a possibility of an upward movement.
2. #Bearish Scenario - The previous upward movement is analyzed as an ABC wave pattern. - In this case, the correction would likely be seen as a 12345 downward impulse. - If so, there is potential for a drop to as low as $80,000. - However, confirmation of a major decline would require Bitcoin to fall below $90,000. - Until then, a significant downward movement is less likely.
Summary In today’s scenarios, there’s a common point for a short-term long position, but if Bitcoin declines, we should prepare for the possibility of a major drop.
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There are no changes compared to the three scenarios I mentioned yesterday:
1. A correction is still possible, and if the price falls below $99,000, the depth of the #correction could be significant.
2. It is confirmed that two #impulse waves have formed. As such, I believe trading long positions within the green line would be a good strategy.
3. The third scenario also shows two #impulse waves, with the assumption that the price will not fall below $101,550. However, if it drops below $103,000, this third scenario will be invalidated.
Both bullish and bearish perspectives are present today. Additionally, considering the #FOMC meeting is taking place, it’s worth factoring that into your analysis.
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Today's Bitcoin chart analysis has been prepared from three different perspectives.
Since this is a region where both upward and downward #movements coexist, I have considered these three scenarios:
1. ABC Uptrend with Potential Drop #Below $99,000 While this is a possibility, considering the overall picture, it appears to be the least likely scenario.
2. 1212 Perspective Two #impulse waves have formed, and the correction appears to be completing within the green line, leading to a significant upward move.If this plays out, Bitcoin could reach $120,000 in the near future.
3. An Alternative 1212 Perspective The wave count differs from Scenario 2 but is still a valid possibility, which is why I included it here.
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Looking at the KAIA coin chart, it appears to have formed an impulse wave in the shape of ABCDE after a correction.
Following this, another converging ABCDE pattern has emerged on the upside.
This leaves us with two possibilities: 1. Will it #decline as part of a single ABC correction? 2. Or will it hold support at 395 KRW and move #upward ?
If it moves upward from here, there is a chance for a significant rally.
It might not react immediately today, but if it’s ready, I believe it will move soon.
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#Bitcoin Chart Analysis I am approaching today’s Bitcoin market with a #bullish perspective.
First, let me address the potential for a downturn. If Bitcoin falls below $100,500, we should consider the possibility of some level of correction.
Otherwise, I believe the current wave structure is setting up for a significant #upward movement.
To explain the chart in more detail: On a larger scale, the chart appears to be progressing in a 3-3 wave pattern, and I am assuming that the 3-2 wave has concluded with a short WXY correction.
Within this context, I interpret the ongoing movement as part of the 3-3-1 wave, specifically the 3-3-1-3 wave currently in progress.
Therefore, in the short term, $100,500 remains a critical level. Future analysis may require adjustments based on price action.
For today, I am anticipating a substantial rise.
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#ETC Chart Analysis I believe the #EthereumClassic chart is ready for an upward movement.
It seems that an impulse wave has been completed, followed by a #corrective wave (ABC - 335).
Of course, the key factor here is #Bitcoin's movement.
If Bitcoin’s correction concludes and it begins to rise, Ethereum Classic appears to be fully prepared for takeoff, which could lead to a significant #upward movement.
If this rally truly materializes, setting the first target at $44 seems reasonable.
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It's been a while since I analyzed the #Polygone ecosystem chart. In my previous chart analysis, I anticipated a rise in Polygon, and fortunately, it has indeed moved #upward .
Currently, I believe one impulse wave has been completed, and the correction seems sufficient at this point.
Based on this perspective, I think it’s quite likely that it could surpass $1 during this bull market.
However, this does not mean it will rise immediately. Instead, it implies that $1 is a reasonable target if a bull market begins.
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#immutable , like other altcoins, is currently positioned in one of two possible scenarios.
The first scenario suggests the formation of an impulse wave, followed by a correction, and then a subsequent #upward movement. While most would hope for an upward scenario, given Bitcoin's current state, it's not guaranteed.
The second scenario involves a deeper correction, completing a complex #adjustment . This scenario would be invalidated if the price rises significantly above TP#1. Until then, this possibility remains valid.
I've conducted a chart analysis based on yesterday's double bottom and potential #upward movement.
However, today's market seems a bit risky.
Therefore, I've analyzed the chart from two perspectives.
The first scenario suggests an impulse wave formation, indicating the need for further #upward movement following the numbered yellow circles. For this scenario to materialize, we would need one more upward wave.
The second scenario is a simple #downward correction within a complex adjustment. If this occurs, there's a possibility of a drop below $90,000.
Given these possibilities, the current position is crucial.
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The #Megalink chart appears to have completed an impulse wave. During the recent #Binance Chain Demo Day, the price rose significantly but subsequently corrected due to Bitcoin’s decline and profit-taking.
Currently, at this price level, there has been significant trading volume over the past few days, indicating a shift in positions and the presence of buyers.
In such scenarios, it’s important to anticipate either a substantial rise or a sharp decline.
If the platform launches and the game operates successfully on Web3, the outlook becomes highly positive.
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A few days ago, I analyzed the #Chainlink chart. Initially, it appeared to follow a cup-and-handle pattern with continued upward movement. However, due to Bitcoin’s correction and a significant decline in #altcoins , the drop was much deeper than expected.
At first, I anticipated a more standard wave formation where LINK would rise above $30 before a correction. However, I now believe it’s more likely that the 3-1 wave has completed, and after the 3-2 wave correction, the most significant upward movement—the 3-3 wave—might occur.
Although further correction could happen, my personal expectation is that we may see a short correction at this level, followed by a significant rally.
That said, always keep an eye on Bitcoin’s movements while trading, as it can greatly influence the market.
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