SUMMARY
GIFTO (GTO) completed an impulse wave up as shown by the blue labels. The correction since then has been complex and also a combination. In Elliott Waves, this is the most convoluted type of retracements and requires alot of patience to label. The two wedge patterns also stand as fractals and as a whole, the price has been channeling sideways. While the current price seems to be breaking out, being a bit reserved until Bitcoin itself starts trend reversing to higher highs would be preferable.
Detailed labeling with subwaves shows a wide ranging WXY (blue) as the likely count. Altcoins have a propensity to generate fractals consecutively so a third triangle pattern has a high likelihood. The blue Y wave label is calling for a slightly lower low potential as the the red abc subwaves could still have the c wave incomplete. Still, the whole correction could be near the terminal end.
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I've been following for the last couple of weeks, and I'm curious if you can make an elliot waves analysis for DeepOnion. It's my favorite coin and it was at an all-time-low on KuCoin yesterday, but price started recovering from that. Does this mean the bullish market is coming soon or it's just a correction?
Agree with you here, DeepOnion analysis would be great. I'm still living off @haejin's bullish ZenCash predictions from months ago, so would like to hear if this will be the next privacy coin to flourish. I understand elliot waves theory to some degree so this technical analysis would be great to hear.
Same story over here mate - expert analysis and opinion is what we need, since I am doing both day trading and long term investing, and my major is sadly not economics. From what I see, compared to its ATH and some other major privacy coins, looks like ONION has a great room for growth, but lets wait for our man @haejin ;)
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I am just an amateur at this but had a look at the DeepOnion chart and looking long term it could have performed a full Elliot Wave with ABC correction and be ready to start a new wave.
The 90% discount from ATH is also enticing but would love an expert opinion on the matter since I am just a laymen.
I totally agree with you. Would also like to know what an expert thinks about this coin because I also noticed the huge growth potential and low market cap. Seems a good opportunity to invest right now.
Interesting points of view here. I only buy cheap cheap coins, with big upside potential. I will check out this DeepOnion coin, seems super low at $2 down from a whopping $20. This correction must come to an end, I figure April will see BTC go above $12k again, and will take the alts with it.
My tactics are the same, I'm starting with investments, the concept of this coin attracts me, and I bought at $ 1.90, I hope to generate good profits with DeepOnion.
That is a great question! I am wondering the same thing. It would be cool to see something similar about DeepOnion, I hold some of those as well.
Haejin's elliot waves analysis is always on point. This dude knows what he's doing lol. DeepOnion is an interesting project, but my TA is so bad that I have absolutely no idea what the DeepOnion's chart is showing lol. I'll be more than happy if @haejin can share his opinion with us.
I would like to see DeepOnion's analysis too, this bear market is exhausting but the project is solid. It would be nice to see if the price has touched the bottom...
I agree, that would be nice to see. I wonder how this coin will do after the market recovers a bit.
Count me in on that! DeepOnion is one of my bigger investments so I would also love to see a professional analysis on it. Would be interesting to see how does it stand exactly compared to today's bitcoin market.
That would be interesting. DeepOnion is up 15% today so maybe its the start of a bullish run. I would like to know what Haijin thinks about it.
I agree and support this request because DeepOnion is my best choice coin. It would be very nice for DeepOnion to have an elliot waves analysis. Thanks.
It's hard to predict prices. If you're purely asking for TA advice, you should wait for a bottom to be established. If you mix a little FA into the equation, you know that airdrop is ending soon, which meens that only the true holders will be left in the coin, which will cause prices to climb...
I don't know about the Bullish market returning soon... I honestly think it will take a long time for prices to go above ATHs (if they ever do), like what happened during 2014/2015 where it took 411 days for market to fully recover.
Usually after a bubble bursts price finds a reasonable price range to trade within for a long time and then interest comes back around and once people have forgotten about all the people who lost a ton of money during january to now of 2018, they will FOMO back in to cryptos.
Coins mentioned in post:
Better be prepare for the up coming bull market , time to put your coins in da bag :)
Wonderful share beased on cryptocurrency that is showing the market level of btc ltc crypto today..... Thank you for giving information about this types of post...
I salute you. you benefit others. good luck your friend 😊
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