Descending wedge pattern landing on the 88% retrace common spot for crypto to bounce, Look for breakout above down trending resistance and expect volume pop with it. Not a day trade patience will be needed, Conservative target aiming to sell back up at the 0.618, never forget your stop.
Now we wait, relax : )
Now we wait, relax : )
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USD chart contracting to a point in this wedge also, look for a breakout, 100% potential here
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Price has landed in the buy zone.
Volume spike and wedge breakout.
Moving the stop in to protect minimum risk, Will look to move stop up if impulse continues.
Trade active, target valid until proven otherwise.
Volume spike and wedge breakout.
Moving the stop in to protect minimum risk, Will look to move stop up if impulse continues.
Trade active, target valid until proven otherwise.
Comment:
Volume at breakout was big, bitcoin moving to the upside or down is what will determine the sustenance of this breakout. Move your stops on breakeven and see what happens
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forming a Triangle correction after initial breakout impulse, look for this to break up to confirm continuation
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Watching volume and this triangle, a 5th impulse wave would confirm a technical Elliot wave count. Expect short term pullback ABC correction fro wave 5 if it eventuates.
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Bitcoin running to the upside is the catalyst for the altcoin pairs bleeding out, the wave count is still valid as one and two but the probability percentages are not in our favour anymore. If you where not stopped out of this trade already move your stop in just below the previous low, if bitcoin gets a serious run on here we will see lower lows. Will be keeping a watchful eye on this coin