A ton of different alts making the same patterns.
Smaller wedge breakout is headed towards the 200 day EMA (also halfway point towards TP 1) and then TP 1 and then 2.
Smaller wedge reaches all its targets and remains above middle of W pattern, W pattern / double-bottom recovery begins and heads towards its TP 1 and 2 (with its halfway point to TP 1 equal to smaller wedge TP 2)
Longer-term wedge success likely hinged upon all of the above succeeding, while DXY must not turn up quickly and strongly from where it is now (needs to continue moving down below 100, or hang out b/w 101-103 for a good while prior to moving up). Also be wary of Bitcoin Dominance, which looks bullish atm. If conditions are met, long-term target looks to be a slightly lower high double-top, for now.
See related ideas in the links below, again many alts are making nearly identical recoveries along w/ Bitcoin.
Smaller wedge breakout is headed towards the 200 day EMA (also halfway point towards TP 1) and then TP 1 and then 2.
Smaller wedge reaches all its targets and remains above middle of W pattern, W pattern / double-bottom recovery begins and heads towards its TP 1 and 2 (with its halfway point to TP 1 equal to smaller wedge TP 2)
Longer-term wedge success likely hinged upon all of the above succeeding, while DXY must not turn up quickly and strongly from where it is now (needs to continue moving down below 100, or hang out b/w 101-103 for a good while prior to moving up). Also be wary of Bitcoin Dominance, which looks bullish atm. If conditions are met, long-term target looks to be a slightly lower high double-top, for now.
See related ideas in the links below, again many alts are making nearly identical recoveries along w/ Bitcoin.
Comment:
OBV has been rising during the entire downtrend, a massive divergence on the daily chart:
