NEO forming two text book triangle formations. Coupled with BTCs most recent pump ending, it could be NEO's turn. Possible triple bottom inside of smaller triangle as well. RSI is all but floored, looks good.
Elliot Wave 1 looks to have completed, if the price slightly dips to the .618 fib retracement of wave 1 then I am looking at the target of wave 3 around fib extension 1 - 1.272 of waves 1-2 . However this COULD be a reversal if we see the price dip below the .618 level. Be careful.
On a slight pullback within the forming bullish triangle pattern, it's a perfect time for a long entry.
Since whe are in no mans land price wize and thus already broke previous resistance, I used fib extensions to determine profit taking targets.
Posting some technical analysis as I see the markets about to take off and want to share my thoughts.
Bytecoin panic is over and now I see a bounce at the .786 Fibonacci divergence on the RSI now waiting for the breakout in descending resistance.
Bitcoin (BTC/USD) is looking bearish as its weekly MACD is positioned to negatively cross in the next week or so. Significantly, the current weekly candle is breaking an uptrend support line (on this weekly chart), sliding beneath much of the price action over the past 3 weeks of consolidation that followed the first warning - the long red weekly candle in June. ...
Looking at the gann setup today we will be testing the arc and soon the end of the square. Both events must make us look at the charts for new trendlines appearing. Also as price has broken the yellow downtrade line. We may see a breackout in less than 3 days.
NEM just had a very large bullish engulfing bar which could indicate a very strong bullish move. I also got a signal from my BuySell indicator and a triple confirmation with the MACD on the 2 hour chart
They will call it the trade of the decade. MILLIONAIRES and BILLIONAIRES will be born everywhere. The market will spiral with so much exponential growth that Bitcoin's first leg up will look like chump change. Do you want to participate in possibly one of the biggest trades in your lifetime? Well guess what, I do, and I am going to give you all the proof you need...
There is quite a lot of sells on the orderbook between the buy-stop price and the current price. If the price manages to get past all those sells then it has a good chance of pushing further in this trend.
Best to bear in mind that this uptrend could drop suddenly if bitcoin resumes a healthy uptrend. However this could take a couple of weeks.
Some of these alts...