Hello Friends, Please find my update. I have given the same to my friends in Telegram and now in TV. We are in the range bound after hitting $11700 mark, the way it was bullish at $11700, we thought it would take $12000 easily, but the market is supreme. Price was pushed down, so the current range is between $7200-$9500. $7200 is the long-term trendline,...
I had previously called out for an Elliot wave inside a channel and a corresponding cup and handle formation. It seemed we were on track to fulfil my targets - we did have BTC pierce the 100 and 200 EMA a few times but it was finding strong support on these averages and the corresponding fib level - 78,6%. Lets not talk about the past, dwell on the past as it...
As we can see, converging triangle is forming, good feeling for the near future. I refill in XLM =)
Just a simple idea
Hi all i wanted to throw this in here for others to see and see if anything could be taken away from this chart in a more precise way, im looking to broaden my learning with the trading cryptocurrencies, but i have to learn more myself first but im seeing patterns and resistance point emerging.And i do not think we come close to breaking throw the first resistance...
BTC is both a downward sideways channel (denoted by the red parallel lines) and yet inside another descending triangle. The current "Bounce" everyone is talking about is nothing more than part of a market wave pattern. The good news that after the wave completes, it should be followed by an uptrend, and possibly a strong one. This is isn't going to happen in...
If we calculate the total move as a macro wave 3, starting from the bottom of the Mt gox collapse, $140ish on Coinbase, to 20K, we can find the fib retracement levels of this entire Wave 3. because we are now assuming wave 3 is done and wave 4 is in place AND this is a macro wave 4, we have many more weeks of bear activity. Considering a macro wave 4, it would...
Major update to my post last week - BTC has clearly breached the bearish descending triangle, and it is almost following the classic market cycle to the letter, another thing to notice we are now in fear territory of the market model. This is why you never "BUY THE DIP" because you don't know how deep it will be. Instead people should be following the trend line...