SUMMARY:
I posted the very ominous Head & Shoulders Top patterns of ZEC/BTC, ETH/BTC, LTC/BTC and others and stated that something is approaching to cause these very massive bearish patterns. Here are the H&S charts again:
https://steemit.com/bitcoin/@haejin/altcoins-and-bitcoins-update
I want to share the longer term projections using Elliott Wave counts to show that it too signals that something ominous is approaching. We all know of the Wave IV (green) bottom I'm awaiting to catch the wave V (green). However, once Wave (V) is complete, a MASSIVE correction in the form of A,B,C (red) is due. Could this portend the replacement of BTC as the king of cryptos? I don't know. I do know this: A news or an event or a reason of some type shall arrive to justify the forecast.
