Hello Traders
We're currently retesting the 2700 resistance, the same resistance where we've been rejected earlier. Also the same resistance that concludes the bat pattern. If we can break and close above 2700, the path to 3000 is open.
I extended the bat pattern to 3000 hypothetically, but it becomes invalid as the distance between X and D is over 0.9:
This concludes that if we go any higher, the pattern will not be applicable since D is too high. (That will be good news)
If Bitcoin maintains its current range trading, we might see positive movement in alts. BTC has gone up and is now consolidating in a range, a good time for alts to make a move.
I'll be watching the current resistance on the 4h and above to see if we can close some candles above.
(We briefly heard from another commentator, barking about the resistance on ETH- not happy about that lol.)
Best Regards,
Evelyn
We're currently retesting the 2700 resistance, the same resistance where we've been rejected earlier. Also the same resistance that concludes the bat pattern. If we can break and close above 2700, the path to 3000 is open.
I extended the bat pattern to 3000 hypothetically, but it becomes invalid as the distance between X and D is over 0.9:
This concludes that if we go any higher, the pattern will not be applicable since D is too high. (That will be good news)
If Bitcoin maintains its current range trading, we might see positive movement in alts. BTC has gone up and is now consolidating in a range, a good time for alts to make a move.
I'll be watching the current resistance on the 4h and above to see if we can close some candles above.
(We briefly heard from another commentator, barking about the resistance on ETH- not happy about that lol.)
Best Regards,
Evelyn
Comment:
Hi guys, we have upward expansion of BBands in the 1D, 3000 possible in which case the bat pattern is no longer valid. I'm not sure what the hard fork is going to mean for eth short term; there are many opinions about the fundamentals regarding that. Here's what I do know - as long as it remains listed, as it will, it will continue to be traded.
Comment:
I would highly recommend not making any transactions with ETH until the network upgrade is done as sends and receives could be affected today.
