Last month I saw a bearish gartley harmonic developing that probably ended closer to a bearish bat harmonic.
The long was successful and so far the short has been too (link below)
I had seen no potential for failure in this short until 2 days ago when we started to develop a broadening wedge. This analysis is neutral not long until a 4 hour close confirms this...
LTCUSD pair has been trading in a descending triangle betwen 22.12.2017 and 10.6.2018. A break down from that triangle has happened at 12 Jun 2018. Since then, the bottom line (reddish color) is the new important resistance level.
LTC has the first break up attempt (you can see on the chart) which was NOT successful because of the lack of volume which also means...
Interesting find, I see a broadening bottom in BTC's current pattern. Below is an image of what a broadening pattern looks like.
- Broadening Bottom Pattern
- RSI showing higher lows
- Stoch RSI showing higher lows
Example of Broadening Bottom: excellenceassured.com
Again, i see the SPX overload at rsi and cci, and see the formation of an ascending broadening wedge pattern. The problem is the next: if the hypotesis is right the AMEX:SPY (or spx) can are entering into a mega bearish breakout.
Target 1: 1810
Comments, Suggestions, Corrections.
They are always welcome!