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Crypto Analysis | Going For the Third Wave? by tobetada

View this thread on: hive.blogpeakd.comecency.com
· @tobetada ·
$22.45
Crypto Analysis | Going For the Third Wave?

## <center> Good day Hiveians!</center>

### <center> Join me in analyzing the crypto markets!</center> 

 
&nbsp;

### [So far we are on track to the scenario outlined previously](https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-btc-update-on-the-quadruple-resistance)

[Two resistances out of the "four" have been broken](https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-btc-update-on-the-quadruple-resistance), but the most challenging is the one the market is currently facing. It is the upper blue trend line coupled together with a general resistance in the 47-49k area (due to past price movements). Anyone who has looked at the crypto market for longer periods should be well aware of the three wave pattern that exists there. I therefore propose that we will face a correction to the previous resistances (which become a support) in the 43k area. Prices should then one more time recover to the 47-49k area which would be the "3" marked in the chart.


![bbd.jpg](https://files.peakd.com/file/peakd-hive/tobetada/23tmm5sZFCikGAds2wGhiDaEZiUuU4Lc4MWvG7FD4zTH2YQ5aRVWLed8cDX96W1BwzAK7.jpg)

As pointed out before, the 47-49k price range also coincides with previous fib retracement levels that resulted in a rejection of further upward momentum. If so, all two previous times this led to a macro correction of more than 50% (!). [A 50% correction would nicely fit into the before outlined price range of about 23k](https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-btc-update-on-the-quadruple-resistance)

This scenario would also fir very nicely with the possible path that **ETH** could take. While price has moved somewhat higher, it has not overcome the 0.6 fib ratio (just like in 2017). This has led to a correction down to almost 0.3 which now corresponds to about 2.7k. I would then expect a strong recovery to almost 4k, before having also a ~50% correction. 


![grafik.png](https://files.peakd.com/file/peakd-hive/tobetada/23w3CwdjMBwXyouHhsXuqsQKWveB2AnaG6ARDS33qVsAaZoxqyDGeuNGavoskTp7FSXpK.png)

**We should therefore still be in the run up to the market top in middle/late of 2022**

&nbsp;

---


*As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!*


<center>![Bottom.jpg](https://steemitimages.com/DQmaKSaCaesHvFXaRovU2pKpJX3pzguP2mgPZPLM8Ac1LQg/Bottom.jpg)</center>

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![lovetheclouds_community_banner.jpg](https://files.steempeak.com/file/steempeak/tobetada/8JQDzWCq-lovetheclouds_community_banner.jpg)

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<center>![Bottom.jpg](https://steemitimages.com/DQmaKSaCaesHvFXaRovU2pKpJX3pzguP2mgPZPLM8Ac1LQg/Bottom.jpg)</center>
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vote details (134)
@acesontop ·
I don't think we will have any 50% correction any time soon. It's still a bull market.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@acesontop/re-tobetada-n6yp6)
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@tobetada ·
it is, but if the whole market is extended, we can easily go back to 20k and have a final push to 200k
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@acesontop ·
$0.28
I doubt that.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@acesontop/re-tobetada-2gppwp)
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@burnoutawesome ·
$0.17
The future looks bright for the markets, I think the worst is over but the opportunity to buy is always there!
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@cooperclub ·
$0.17
Lets rock the world of hive with !PIZZA. Come join our pizza community, we are artist, prog, gamers and much more lovely peeps. Our goal is to bring hive together, still separated community's but connected. Got your interest, see ya at pizza. Definitely check out hive.pizza

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@cooperclub/re-tobetada-qvz27)
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@pizzabot ·
<center><br> <p>@tobetada! I sent you a slice of <strong><em>$PIZZA</em></strong> on behalf of @cooperclub.</p> <p>Learn more about <strong><em>$PIZZA Token</em></strong> at <a href="https://hive.pizza">hive.pizza</a> <sub>(11/20)</sub></p> </center>
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@digi-me ·
$0.18
Looks good, like the ETH chart. If history is to repeat ETH should come down again and form an ascending triangle as last time in aug2017. Or another pattern this time, anyway wanna catch that swing plz.
πŸ‘  
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@tobetada ·
me too :P
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@donthaveone ·
$0.18
It actually feels nice when you see someone give a decisive result in their opinion. Otherwise most people would seem it to be confused themselves. 
πŸ‘  
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@tobetada ·
thanks, I always try to emphasize that the given scenario is one out of many possible ones, but that the one shown seems the most probable to me. If it's helpful, then I'm happy :)
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@gangstalking ·
I upvoted you, thank you for posting! πŸ‘
πŸ‘Ž  ,
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vote details (2)
@mistakili ·
$0.36
I’ve been following and the correlation has been interesting. Let’s see how this goes. What I’m mostly pleased about is that we have gone past the 30k levels for now at least. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mistakili/re-tobetada-lkpgq)
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@tobetada ·
These analyses I am making should be most relevant to short and mid term traders, if you are hodling there isn't really any reason to sell currently
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@mistakili ·
$0.17
True that. I’m holding though. But I like reading your analysis, helps me understand patterns 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mistakili/re-tobetada-7avyiw)
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