Crystal Ball View on the Big Four BTC / ETH / LTC / ADA
The rocket ride has abruptly but predictably ended with a landing on the rocky moon of retracement.
I had predicted the price drop and according to that prediction there is room for taking the rocket another level lower.
I have marked -30% and -40% rock bottom targets. These would not surprise me, but spoil the fun of continue riding up on our Bitcoin Spaceship (greetings to Elon).
The 168 hour moving average did its job and indicated the pullback.
I have switch the Bollinger Band on all four charts to the weekly. As it is key for all of them to close above. Given current new low at the time of writing it looks like the market will be pushed down further.
I remain bullish midterm (6 weeks horizon and upwards). Right now seems to be a good average in opportunity. Make sure to keep some powder dry and put tight stop-loss orders in not to get burnt unnecessarily.
So if you look also at my related idea "Bitcoin Following Projected $100-300k+ Target Channel, then you will understand the importance of closing the week above the upper Bollinger Band.
That would turn the chart neutral to bullish again short-term. After the recent weeks of absolutely absurd increases the seems to be hunger for some players to sell only to enjoy another +20% upward present.
Ethereum ( ETH ) unfortunately failed to surpass its ATH and Bitcoin really put the breaks on that happening. For a moment it looked like it was happening. Now my prediction from the last post will likely be false and ETH will follow path with ETH. On a positive note I would argue that Ethereum will outperform Bitcoin soon and have a parabolic run just like Bitcoin in 2017 and reach 20k in the end. So current levels are inviting buy opportunities.
Litecoin ( LTC ) has yet more resistance levels to crack now before being able to go full parabolic and reach new ATHs. It got hit pretty hard and lost more then 30% already. -40% feels imminent.
Cardano ( ADA ) ADA got sucked down with the others. Also here my prediction will have failed miserably.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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I had predicted the price drop and according to that prediction there is room for taking the rocket another level lower.
I have marked -30% and -40% rock bottom targets. These would not surprise me, but spoil the fun of continue riding up on our Bitcoin Spaceship (greetings to Elon).
The 168 hour moving average did its job and indicated the pullback.
I have switch the Bollinger Band on all four charts to the weekly. As it is key for all of them to close above. Given current new low at the time of writing it looks like the market will be pushed down further.
I remain bullish midterm (6 weeks horizon and upwards). Right now seems to be a good average in opportunity. Make sure to keep some powder dry and put tight stop-loss orders in not to get burnt unnecessarily.
So if you look also at my related idea "Bitcoin Following Projected $100-300k+ Target Channel, then you will understand the importance of closing the week above the upper Bollinger Band.
That would turn the chart neutral to bullish again short-term. After the recent weeks of absolutely absurd increases the seems to be hunger for some players to sell only to enjoy another +20% upward present.
Ethereum ( ETH ) unfortunately failed to surpass its ATH and Bitcoin really put the breaks on that happening. For a moment it looked like it was happening. Now my prediction from the last post will likely be false and ETH will follow path with ETH. On a positive note I would argue that Ethereum will outperform Bitcoin soon and have a parabolic run just like Bitcoin in 2017 and reach 20k in the end. So current levels are inviting buy opportunities.
Litecoin ( LTC ) has yet more resistance levels to crack now before being able to go full parabolic and reach new ATHs. It got hit pretty hard and lost more then 30% already. -40% feels imminent.
Cardano ( ADA ) ADA got sucked down with the others. Also here my prediction will have failed miserably.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
