SUMMARY
Once a bottom is found, the original trend resumes and this can be measured using Elliott Waves and Fibonacci ratios. The below chart depicts a rounded bottom pattern which is quite common for correctional bottoms. Once wave 1 is established, it ca heavily be used as a reference to delineate the remaining waves. Those details can be found in my Elliott Waves tutorial. The waves 3 and 5 are placed per Fibonacci ratios to wave 1 and the target can be identified as 0.001128 BTC. I've added the subwaves of wave 3 which targets 0.000964 BTC.
Here is the ENG/ETH. A rare event to identify a double handle pattern and it has been in the cryptos where such unusuals have been identified. Cryptos are quite different in personality than stocks as they adhere beautifully to the directions of sentiment.
The higher degree of trend for ENG/ETH shows a target of 0.0257 ETH. There is a typo in the chart, it should show it as ETH and not BTC target.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**