mahyarkj

We are currently completing the 4th wave of the larger 3rd wave and BTC may consolidate around 100k for a while before it takes off for the final push (smaller 5th wave). BTC will probably complete the larger 3rd wave around 144K and continue with larger 4th and 5th wave in 2026.

14.6 cents before the end of 2023next target is $1.38 by late 2024and possibly $6 before the bull run ends.

- I assume we will shortly break above 800 daily EMA this week and touch 32.6K which is the 50 percent fib level of the previous wave down from Nov 2021- Then we go back down to retest 50 and 200 daily EMAs and then move towards 61.8 percent fib level of the previous wave at 39K- After that a shallow pullback and finally 58K - I don't think we go any higher than 58K before the year ends.

As you can see on the chart I use 50 and 200 EMAs and MACD to count the waves.Whenever we see a valid 5-wave structure we can also see the corresponding reactions with 50 and 200 EMAs.- First we see 50 cross above 200 EMA for the first wave to the upside.- Then we see a cross below 200 for 2nd wave correction and the gap between EMAs turns red.- A bullish crossover for the 3rd wave and the band turns green.- After that another cross below 200 EMA for 4th wave correction and finally the cross above 200 EMA for the completion of 5-wave structure.So far we have completed the 3rd wave and the highest MACD peak is indicative of that. Although that peak accounts for the minor 3rd wave of the larger 3rd wave and not the end of the 3rd wave itself.Using Fib-retracement I assume we will go down to 0.5 or 0.618 (green levels) of wave-3 to complete the 4th wave correction; however the possibility of a shallow retracement to 0.382 is still on the table. Once the 50 and 200 EMA do a bullish crossover and the band turns green and stays green for a while that should be translated as the beginning of 5th wave.I see Fib-retracement extension level -0.272 of 3rd wave as the target for the end of 5th wave that takes to 27K or even slightly higher.Played out almost similar to what I expected but I assume we are not done yet. I expect sub 20K briefly before the continuation to the upside.

Optimism is one of those altcoins that I have been carefully watching for a while along with TWT that has recently broken out of a triangle. OP chart very much reminds me of Matic before breaking the triangle after almost 650 days of consolidation; so I decided to share my thoughts hoping we all make some money if it follows the footsteps of Matic.- Usually when the coins are first released we see a strong move up or in some cases down(if the market decides price is too high at the time of ICO) followed by a period of consolidation. This consolidation sometimes forms a triangle that if broken will take off like a rocket.- Major 1st wave together with 2nd wave followed by the minor 1st and 2nd waves of the major 3rd wave form a triangle that may take months if not years to complete. Take a look at XRP and Matic; It took XRP much longer to break out of the consolidation triangle while it took Matic roughly 650 days to take off. Recently TWT broke out after almost 650 days that is vey similar to Matic and will probably skyrocket.- The following analysis is based on the assumption that OP mimics Matic. - OP is about to break out of an already formed triangle (the green line and channel lower-line).- At the time of publishing this idea OP has already consolidated for almost 200 days that if compared with Matic it seems we have to wait more even after breaking the already formed triangle - Therefore I assume after breaking above the green line, OP has to deal with the red line to form a larger triangle before a major move to the upside.- Unlike Matic that started with a strong move up, OP started with a strong move down after initial release; so the market decided the ATH price at the time of ICO is the end of major wave (I) .- The orange rectangles are the targets derived from confluence zones of Fib-retracement and Fib-extension. Approximately the targets are $3.7, $21 and $70- I can imagine the price action unfold according to the yellow path which depicts the 5 minor waves of the major 3rd wave.- I am expecting OP to complete major 3rd wave by touching the channel upper-line twice. - The channel is drawn in a way that its median line passes through top of the major wave (I); Similar to that of Matic where the median line passes through top of major wave (I) and its major 3rd wave touches top of the channel. The channel lower line is obviously based on price action.As I wrote back in December 2022, after breaking the green line which already happened, we have to deal with the red line to form a larger triangle and break above that to initiate a major move to the upside. I also mentioned that OP consolidated almost 200 days compared to 650 days for Matic. It seems as I expected OP is truly mimicking Matic and needed that 650 days of consolidation as if 200 days wasn't enough. The previous analysis is still valid as we haven't really broken above that red line yet; it tried once but it failed. We have already consolidated for 540 days and we probably need another couple month of consolidation.The blue channel is no longer valid so we need to make some changes and we also need to extend the red line to the right to clearly see the large triangle I expected to form and it didn't disappoint.The targets and wave count are still valid and don't forget that the longer it consolidates the higher it will go!

- IMHO we are currently completing the 2nd wave of the larger 5th wave. I assume we will break above the blue line by mid-2023; we will consolidate above or below channel median line for a while and then continue for completion of 3rd wave of the larger 5th wave (hit top of the channel). - After that XRP is going to retrace for a while (similar to what BTC is going through right now) and then the final push to the upside. - Usually the larger 3rd wave and 3rd wave of the larger 5th wave are aligned (they both hit top of the channel), so I expect for XRP to hit $30 (top of the channel) in about 1.5 years. - For completion of 5th wave after the retracement we will see 100+ XRP and overshoot beyond the channel.- As you can see price has perfectly reacted to the lower and median line of the channel so far.- Based on the height of MACD bars for XRP at $3.3, it has probably completed the Main 3rd wave and the wave count for the future price action is based on that.- Price action lower than the previous leg down invalidates this idea.