All indicators start to point up, we have broken out of a couple of resistances and only 1 more to go! Eyes focused on the resistance of 240 and when this breaks, I will have my helmet and flying boots on.
300 should break within 24h followed tightly by 400 if this goes parabolic. Usually starts slow and gradually builds up momentum nearing the end of the impulse wave, so avoid over trading.
After 400 I expect a fast and slightly bigger correction and then more upwards movement..
(Lets hope Bitcoin doesn't fall like rock from the sky during this rise)
Stop limits slightly _below_ support in case there is a big drop. (right now the support is 205, after these break, they turn into support: 220,240,270,320...)
All the best!! -B
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Small abc correction, RSI cooldown, MACD nearing 0 support and StochRSI already reloading.
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This is also possible, 4th down.
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The similarity is just so intriguing.
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Possible shakeout about to happen... That buy wall might be eaten, before we go up...
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And there it is! This might be the drop I have been waiting for. Interesting!
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Bottom for this V shape is just under or on 00190.
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Cup and Handle, repeating pattern before bull runs.
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So this is playing out really nicely, hopefully this was helpful.
Now the fun part begins, we should not pullback too much from these runs, and a StopLimit could be put on 215 now, and once 240 breaks, I would lift to 230. After 270 I would go for 240. after 300 SL can be 265 and so on.
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Not much new here, still slow and steady consolidating up to breakout of this huge channel.
What worries me a little is the upcoming news on 15th and if this pump has not began by that date, I will be ready for a big dump no matter what the news are.
Resistance levels roughly with Fibs:
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This is one scenario that still keeps returning to me, this could play out in many ways, so I want to share it as an educational heads up:
Exactly where the spring will end up is just a guess, could be less, could be more of a drop, but something close to this is what I am expecting to see.
Be safe!
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Update on possible drop:
Still big resistance @200-204: if this breaks it will drop pretty fast and then spring up even faster.
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Both stop limits triggered, now it's good time to start buying in lower. Pretty happy with my TA accuracy right now. Please leave a Like if this is helpful! Thank you!
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Bottom can't be too far away, the big sell off has not happened, but a nice dip before next move up nonetheless. Re-entry 190-200 and next stop 220, then 240.
-RSI is really oversold and a hidden bullish divergence is spotted. Everything points up for next move.
Be safe!
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There still is a possibility this channel breaks down and makes a fast long red candle down and then bounce back up. So keep an eye on that lower line of that channel.
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Update on next possible movements
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See image above: Could be a drop incoming shortly now...
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Looking like a spring bounce up now. This could be the beginning of the pump.
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Still there is a 50/50 if we make another bearflag down to 140 area.
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Risky short option. Possible movement for today.
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If channel top holds, this is a good short position dropping down to 160-170. If it breaks above 197, this can start an uptrend.
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So far so good!
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Upper line of channel being tried again. Could be a breakout up.
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RSI bounced, MACD refused bearish signal cross and it appears we might have a reversal happening now. At least short term. MA 50 is being a resistance dropping on 197. Still could turn around and fall back so we need confirmation above 200.
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Ok took a new stab at this, using EW, we are probably moving up to 210 on wave count and then back down in the channel or a possible break out.
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I am making a part 5 and will post it very soon! Thank you for your support!
@kulie, Looks to me that we finished of the 5th wave and now we are correcting abc, or this is 4th down, and it can't go under the first wave top, so that looks good too, we should be turning up soon.
@bnqview Is zcl go more down or its a reverse to uptrend
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the price consolidated, where will we go up or down?
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where can we bounce 198 from?
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@lionevil, Right now it's most likely to drop 10-20% more. BUT if it breaks the channel and goes up to 198 we will start to see waves up to 240 and probably the start of the pump.