I still do believe this retracement level is needed for BTCUSD to complete its ongoing descend. The current ending wave is expected to be a WXYXZ since it's part of a Flat (yellow abc).
Maybe with an impulse wave int the making? Not enough data to confirm.
Estimations for the next impulse waves.
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).
agi .i close more 0.0000028 i think to moon target in chart good luck all
Next short term target of BTCEUR before the final descend.
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...
(Be ready for what the market as offer)
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...
COINBASE:BTCUSD Price on the 1D chart is now just below 20EMA and 55EMA, also at the top of the triangle and mid-point of the channel, this suggests a move lower. Expecting a pinbar or bear trap into the zone that is between the monthly S1, the 200EMA and the lower part of the channel between 9000 and 8700. This would then be followed to move to the upside. Not...
We can see now after a very weak "breakout" from the 4hr chart falling wedge that it is the 1 day chart bull pennant that is still very much the dominant chart pattern at the moment. The good news about that is the breakout target should be much much higher than the falling wedge's target would have been. The bad news is the pennant is a descending triangle which...
Bear trapped confirmed as the 1 day candle that dipped down ad filled the 10.1k gap last night bounced all the way back up to close inside the bull pennant as I was expecting. We also hav a 4hr golden cross due to occur in the next 4-8 hours which I think will instigate a bullish breakout from this pennant.
green horizontal still maintaining great support. the 1 day 50ma(in orange) continues to grow more and more parallel with the ascending red neckline double reinforcing boths levels of support: price action could continue to grind slowly up the red ascending line and form an symmetrical bull pennant it should ultimately pick a direction by the time it reaches the...
Very positive sign here as we not only were able to crawl back inside the green symmetrical triangle pattern and prove the breakdown of that pattern to be a fakeout we also have managed to do the same with the big red ascending head and shoulders pattern before today's 1 day candle close; essentially confirming it's breakdown to have been a fakeout as...
Shorterm looking pretty bearish in the near future we should resume bullishness however save for any unanticipated fakeouts. The biggest potential bear threat is the head and shoulders on this chart...were it to somehow actually trigger the measured move would be 5k....probability favors any "breakdown" of the h&s to be a fakeout so if price action dips under the...