Keeping it short and direct to the point, crypto is known for symmetric triangles or triangles in gerneral. And just like BTC, we have 1 piece of the puzzle, a bullish wedge or a cradle setup for an up-break as I write this.
Cheers, S.Sari
Bigger picutre
Continuation on previous post
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ETH doing well, holding, just like BTC
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The 4 HRLY looks weak yet the daily is still good. This means we will drop further down which is mostly likely to break this top trend line and drop into the wedge or next fib level support
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1 to 3 hourly, no different
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chart update
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From a different approach, for now, these 2 targets make sense
I've seen you drawing bull flags in an ascending triangle. What I've noticed is that the flag is a down sloping wedge or pennant, resembling a small correction to the downside but more like a downwards consolidation for a short period before blasting up again.
Happy to read your observations on this topic.
ssari
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@allegorycave, Look at my next post on BTC. ETH has the same setup, but less aggressive.
allegorycave
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@ssari, Hmm I see it, still i see triangles. What I notice throughout my 'career' is that flags often (not always) but often, form under a descending, retrace line formation. Meanwhile you post symmetrical or ascending triangles. Have you not noticed this pattern during flag formations?
Of course I'm speaking from mere observations and can't really give you concrete examples without spending a bunch of time, just wanted to hear your opinion as your last flag call is under construction atm, which surprised me because it's not what I'm used to see.
ssari
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@allegorycave, I can take the time to demonstrate what took place before the breakout. When I look back it now, its so clear that we were going to break out up. A few key areas. Again, I believe in it because of the inverted BARR setup. As for now, its a triangle of 3 possible shapes. I'm trying to be generic with the shapes because we don't have the pieces. It could be a flat top, or symmetric. its details not worth worrying about until it reveals more.
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@ssari, Are you willing to show the content that you believe lead to that explosive up wave? I'm extremely eager to see your analysis on this happening we got, it was something many people have not expected.
I knew you are a good chartist from the beginning but lately I guess I got over confident. I am still bearish but I'm playing all of this in medium term time frame, I did not expect this huge surge of a bull, but you did.
Feel free to provide your following analysis on this massive run,
apparently even Coinbase crashed for a bit..
ssari
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@allegorycave, no problem. I think a video would do the trick. I will try doing a video and if it sounds ok and if I do a good explanation, then I'll publish it. I think many people would like to understand what took place. Otherwise I might just chart it. FYI, in the last month or more, I think I got to another level of understanding the charts. If you know my profile, I'm still new to this, about 2 years in learning on my own. I probably wasted 1 year on unimportant stuff but its the background information needed.
I can tell you the most significant so far is the bump and run approach and\or the inverted BARR that I learnt recently. BTC is littered with it.
allegorycave
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@ssari, I know you are new, we spoke before. You spoke of utilizing forks at start but then switched to fib channels which was bold in my eyes.
A video will surely be better, I would love to hear your analysis ! As for the BARR, I never heard of this concept before and would love to have an introduction and the hype to start researching it for myself.
Have you actually captured that bull wave to 9k or a close by level ?
ssari
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@allegorycave, Here is a the link for the BARR and then look back at BTC and you will see many of its fingerprints. This post makes an attempt to explain it but do it after you read the article.
I actually sold all, not kidding at 9336 and 9363