After the crossing of tenkan-sen to kijun-sen on February 14, we had a 16% increase that was barred in the first touch of the downtrend line formed from the 6k, taking a correction of 12% in the asset paralyzed in the ema50 and the lead 2 line of ichimoku. Even with the bullish engulfing pattern candle on March 5th, we had the crossing of the tenkan-sen down from kijun-sen, signaling that the movement lost strength and could be refused again in the downtrend line of the 6k.
Now to follow the symmetric triangle needs a touch on the uptrend line between $3600 – $3500, so we would gain strength for the breaking of the 6k downtrend line.
The best long-term entry would be at the next cross of tenkan-sen upwards the kijun-sen.
Bearish divergence between waves 3 and 5, we are currently below ema9 with support in ema26, if the movement gains strength at the end of the day it may have an opening below the ema9 generating the breaking of the ema50 in the support of $3780, which if broken can take the price close to $3600.
We are 27 days without the crossing of the ema9 in the ema26, we need to pay attention in this movement, if we start the correction waves (ABC) can really start also a correction in the altcoins markets, confirming our previous analysis of the total marketcap.