The bitcoin monthly chart shows a clear impulse up and we've not even completed the longer term wave III with, of course, waves IV and V to follow. We are simply in a wave 4 triangle-like correction, within that larger bull market, that has many years to go. Seeing the longer term picture it becomes obvious that the current correction is really nothing out of the ordinary and in time we'll look back on it with a smile on our faces.
However, not all coins will move up equally fast. Some will disappear all together. Many of the older coins for instance, the ones that had a spectacular rise already, display an almost perfect Elliott Wave impulse pattern that, in contrast to bitcoin, has already completed. In addition, they have by now corrected back to wave 4 of the previous motive wave, which is the textbook target for a correction in an impulse move; promising therefore another impulse up - in fact that will then be a larger time frame wave III with dizzying target levels.
The standard target for a wave III move is 1.618 times wave I.
Let´s look at a couple of them.
ETH
Ethereum 1.618 wave III target hovers around 1750$ for a percentage rise of 775%.
ETC
Ethereum classic, now at $9.154 can go to $85 for a rise over 800%.
BTS
Bitshares has a 1.618 target of around $1.75 for another 800% profit from the current level.
But we don't have to stay so modest as there are more promising ones.
OMG
Omisego is now at $3.21 and can go to $48 for a 1390% profit
WAVES
Waves has a 1.618 target of $33 for a 1678% rise.
WTC
Walton coin: target $78 for a 2290% rise.
STRAT
Stratis has target of $40 for a 2400% rise.
BURST
Burst should go down a bit more after which the 1.618 target will be around $0.24 from the current $0.008 scoring a plus of 2900%.
XEM
Nem Economy Money, following the standard 1.618 Fibonacci target for a wave 3, should go in an extended wave III to ca $3.5. From the current level of slightly over $0.09, that is a meteoric rise of 3788%.
That's a lot of profit.
