My view is on the chart. In the short term, there will be a nice rebound to test the Supply Zone in the next few weeks. In the long term, it's in the Wave 2 consolidation period and the price will shock for around a year, I think.
In comparison with the chart of Total CyptoCap, the Altcoin's chart looks weaker obviously, however, when the 2-year consolidation ends and price breaks up with a great green candle, you will gain significantly in the future bull run.
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Break out! Congratulations to who watched this chart.
Also here I am more bearish I am afraid. If the pattern plays out we could see even new lows! At least testing the Yearly opening price for a nice bounce in the short term.
Dr-White-Btc
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@heish, nice view. But my chart is under logarithmic coordinate, so we found a different trend line. I prefer to watch the log chart for the long-term. However, the head & shoulder really exists, and if we cannot break out the resist nearby 70B this few weeks, your guess will come true later.
heish
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@Dr-White-Btc, interesting!
Why do you prefer the log chart?
I agree with you in that point. We need some action in the coming week or bears will be all over the place.
Also here I am more bearish I am afraid. If the pattern plays out we could see even new lows! At least testing the Yearly opening price for a nice bounce in the short term.