A -> B (129bars); C -> D (129bars)
When charting using the ABCD Pattern the AB leg should make up the same amount of candles as the CD leg creating a harmonic ABCD pattern. The BC bounce should be .618-.786 of the AB fib retracement and the CD leg should be either a 1.27 or 1.618 fib extension of the BC leg. This pattern matches up perfectly no matter how I look at and we should see a trend reversal.
MACD is curling up on the 4hr and looks about to turn bullish as well!!!
Target 1: .01-.0101
Target 2: .013-.0135
***I cannot predict time frame and the trend line showing my speculation on the movement is in no way indicative of how long this will take. It is just to show the movement of the trend and what my analysis has given me!
BTC is still very volatile so keep a tight stop loss but those are my targets and I am sticking to them due to fundamentals that are coming into play in the next few months. In addition to the trend analysis posted above, ICX will swap over the ERC20 tokens to mainnet tokens some time in March. This should increase value drastically since the tokens are now a utility for the blockchain. From watching the ICX summit, they have already announced their partners and future ICOs in the VERY NEAR FUTURE! This project has a strong team, and with clarification from the South Korean government about not banning cryptocurrency recently (re-opening regular trading), we should see a KRW pairing for this token very very soon which for me is bullish!
Good luck and happy trading! It is always important to realize that you are the one in charge of your trading decisions. I am not a financial advisor nor is this financial advice.
When charting using the ABCD Pattern the AB leg should make up the same amount of candles as the CD leg creating a harmonic ABCD pattern. The BC bounce should be .618-.786 of the AB fib retracement and the CD leg should be either a 1.27 or 1.618 fib extension of the BC leg. This pattern matches up perfectly no matter how I look at and we should see a trend reversal.
MACD is curling up on the 4hr and looks about to turn bullish as well!!!
Target 1: .01-.0101
Target 2: .013-.0135
***I cannot predict time frame and the trend line showing my speculation on the movement is in no way indicative of how long this will take. It is just to show the movement of the trend and what my analysis has given me!
BTC is still very volatile so keep a tight stop loss but those are my targets and I am sticking to them due to fundamentals that are coming into play in the next few months. In addition to the trend analysis posted above, ICX will swap over the ERC20 tokens to mainnet tokens some time in March. This should increase value drastically since the tokens are now a utility for the blockchain. From watching the ICX summit, they have already announced their partners and future ICOs in the VERY NEAR FUTURE! This project has a strong team, and with clarification from the South Korean government about not banning cryptocurrency recently (re-opening regular trading), we should see a KRW pairing for this token very very soon which for me is bullish!
Good luck and happy trading! It is always important to realize that you are the one in charge of your trading decisions. I am not a financial advisor nor is this financial advice.