Matic Network 1H Bullish Ascending Triangle Sure this is an 1H chart but you can see the bullish structure in any time frame, I like the 1H here because you can zoom in and see the reaccumulation in detail. In the short term I see Matic returning to the bottom support trend line of the ascending triangle, but from there statistically we have a great chance of breaking the upper resistance trend line of the ascending triangle.
Personally I'm waiting for a touch of the bottom trend line then I'll reassess the indicators at that time in order to see if we have an even higher probability of moving upward.
If you're looking for news, Matic Network is doing big things. Just today they partnered with Infosys which is a NYSE traded 40B worth company. They recently partnered with Tech mahindra which has already made over 5B in Revenue this year. They were invested in early by Coinbase and also have the backing of Binance due to Matic being one of their IEOs. I have speculated that Coinbase Pro may list Matic Network also soon due to the fact that many of the technical check offs for listing the token are being checked off as we speak due to the Matic Mainnet happening as we speak.
Just a trade that might continue to play out very well, not financial advice, never give up on the future of money.
ALT-COIN
NKN inside a long term triangleNKN looks to be inside a long term sustained downtrend but has bottomed out potentially. I'd be watching for a break of this structure either way. My opinion is a bullish break is more probable. We see an up trend starting but it's a matter of if the bulls can keep it up.
Alts Last line of support Total alts cap broke out the ascending channel and looking for discovery below the channel. If we count the wave, then we should be nearing a bottom any time soon. We are sure everyone is surprised why the alts seems to still be in a bear market.
Some alts devs can , we can count a number of projects whose devs don't have money to run the project anymore , some devs have dissapeared and left the project to the community without enough funds to continue.
So what we might be witnessing in the next couple of months might be real capitulation. Though Ethereum is responsible for more than 90% of the alt coin sphere,which means some the alt dev exit plan might be to sell as much eth n alts as possible into bitcoin , then into fiat , which in some other theory might be the actual reason for the bitcoin pump, but then we never know .
as seen previously alts with good fundamentals should really pump hard when bitcoin starts reaccumulating at its 0.618 fib level. Watching the support and bitcoin at 0.618 fib level to see how alts react.
Now fewer newbies to trick with buzz words, it is projected some alts might not survive this season.
BTC to $8200 or lowerAfter a highly exceptional run bitcoin reached it's 3.618 target, with percussion.
BTC saw it's value reach, in perfect fashion, the 3.618 advancement line.
Also consider Bitcoin's Dominance found strong resistance at a perfectly measured Gann Fann
Please see related idea:
From here, I see two possible scenarios playing out for Bitcoin.
Either, the bear market is truly over and this 5-impulse wave up was just wave 1 of the larger move to come, in which case look to the blue up arrows and green & orange boxes.
This could see the price achieve a new all time high for 2019. $22,528
OR
It was all the US/China trade war and a trade deal announcement and deescalation of tensions between the US and China.
Such an event would happen over the summer. Between potentially next week and say labor day or end of September if you wish.
I think we will have a better picture of things to come by the end of June and again by the middle of July
But in any case, I am quite confident the price of bitcoin will do some type of correction trend lower over the next 1-3 weeks. (Probably 3 - until the middle of July).
short targets - just follow the Fibonacci road!
Green boxes are pretty safe bets, IMO.
1) $9316 (green zone - high prob)
2) $8136 (green zone high prob)
3) $7183 (Yellow zone - med-high prob)
4) $6229 (Orange zone medium prob)
Long targets for Wave 3
(Bitcoin will eventually achieve ALL of these targets, and beyond.)
1) 11,280
2) 13,530
3) 15,779
4) $18,029
5) $22,528
