ltcbtc at a key fulcrum point. Needs to maintain support on the one day 200ma to trigger the falling wedge breakout and maintain the golden cross...if it loses 1day 200ma support then it will likely trigger the double top breakdown which could send it into a deathcross. If it did flip back to deathcross, that deathcross could still be more of a deathcross fakeout...
Still a chance the 1 day 200ma may provide body support by the next 2 daily closes but in the meantime targets like filling the gap at 8.5k are veryr easonable...we also have the breakdown target from the descending purple channel around 8.3k if we were to go lower than these 2 the next target would be the golden pocket fibonacci retracement level at $7927 and...
Hi guys! Big forecast for the Ethereum coin on the daily chart .
1.A small range has formed in which the coin is now located
2.Strong support and strong resistance to trade.
3.Long when breaking up and fixing with the body at 1D
4.Short when breaking down and fixing the body to 1D
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This is fantastic news for the bulls as we just achieved a higher high on the 1 day chart. I now expect us to go back down and fill the cme gap at 8.5k. If so I will be loading up on alts and btc in that range. I closed my 5x long at 10400 and am very happy with the results.
showing the chart for dashusd on bittrex to because unlike krakens it hasnt broken out of the pennant yet..also put a lower breakout target in case it only counts the triangle and not the the pennant and its around $175. On both exchanges however the golden cross should occur by the next daily candle so I'm, still very bullish
Haven't checked dashusd on other exchanges yet for confluence but on the Kraken exchange it looks ready to blow! *not financial advice* . We see here a symmetrical triangle in an uptrend attached to a flag pole= bullish pennant. If it reaches the pennants breakout target we are looking at a target of around 200-220, if it only reaches the triangles target it will...
I anticipate we may even test the 1 day 200 MA (in blue) before any significant retrace. If price action can find a way to close more than 2 consecutive 1 day candles above the 1day200ma however this may be a legitimate breakout from the wedge.
This post is a correction of my previous post on the current wave postulating we're in a zig zag.
The proportions indicate clearly a flat, though wave A seems to contain 5 waves up.
Flat or zig zag, both will end with a 5 wave (up in this case).
Which scenario is most likely:
- the orange wave WXYXZ, where wave Z is 2/3 completed?
- the blue wave ABC, where smaller wave c is still to start?
Note the similarity of waves WXY with the sub-waves of Z is remarkable.
End of wave Z is plotted with the same proportions as waves WXY.
If we can get the current 1 day candle to close above the rimline and then have the followup 1 day candle to confirm the rim as solidified support we should finally see the breakout that I've been saying to keep an eye on in my ideas for at least 2-3 weeks now.
of the several potential patterns we've been watching over the past couple weeks, one by one has slkowly been eliminated from contention (most recently the adam and eve double bottom) and now we are left with only the standard 1 day bull flag. We just managed to confirm support on the 1 day 200ma after wicking below it which is clutch because flipping the 200ma...
Look at the measured move drop target for the total2 1day chart head and shoulders pattern....no way is the entire alt market going down anywhere close to that far...that would involve all alt coins even top ones like ethereum, xrp, ltc, and bch going below zero. Of course h&s don have to hit 100% of their measured move target especially during a bull market but I...