Looking at the price action, flow has caught quite a bounce. It was previously at the ATH then retested the broken resistance now support and then began to consolidate after which it started to form a descending triangle.
After the drop from BTC on the 25th, Flow along with the other Alts followed suit and at this point a descending channel became validated in my opinion.
I believe that most ALT coin move predictions can be aided using BTC.D. Currently BTC Dominance broke its ascending triangle to the downside and I expect a retest of the broken structure. A retest of that structure will mean that some Alts will move inversely.
Looking at Flow currently, that inverse movement has some correlation to the completion of a move towards the bottom of the channel, testing the trendline and then continuing back up, thus creating a bull flag.
I will post my analysis of BTC.D in the comment section.
It is also possible that FLOW breaks this channel to the upside, seeing that $20 has proven to be strong support. This would likely result in a retest of the top of the channel and likely a test of each Fib Level, pushing to the ATH.
Let me hear your thoughts!
After the drop from BTC on the 25th, Flow along with the other Alts followed suit and at this point a descending channel became validated in my opinion.
I believe that most ALT coin move predictions can be aided using BTC.D. Currently BTC Dominance broke its ascending triangle to the downside and I expect a retest of the broken structure. A retest of that structure will mean that some Alts will move inversely.
Looking at Flow currently, that inverse movement has some correlation to the completion of a move towards the bottom of the channel, testing the trendline and then continuing back up, thus creating a bull flag.
I will post my analysis of BTC.D in the comment section.
It is also possible that FLOW breaks this channel to the upside, seeing that $20 has proven to be strong support. This would likely result in a retest of the top of the channel and likely a test of each Fib Level, pushing to the ATH.
Let me hear your thoughts!
Comment:
Honestly surprised this coin still has juice, moon status.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
BTC.D