If BTC does cool its jets and pull back soon, we can still look to the 8.3-8.6k region for strong fib/price structure support and a continuation of the Adam & Eve pattern upward. However if it maintains its current momentum and the bulls defend all sell-offs, BTC is looking at 10k and higher sooner than later. Either way, always good to keep probable scenarios in...
The Gann Sphere shows an interesting energy point on May 1st. To validate the positioning I marked some almost perfect crossing points with yellow arrows.
This gives us an idea about the timing but not about the direction.
The Adam&Eve pattern might indicate an upward movement. To validate this pattern the volume of the first part (Adam) should have more volume...
I didn't bother shorting this recent minor correction dip because 1. We didn't form a lower low first and foremost and 2. We maintained support at the 4hr 50MA buy/sell line (in orange). I did however have to slightly widen the trajectory of the double bottom Eve trendline(in pink) to make room for that extra red 4hr candle...which has pushed the projected date...
BTC is once again pressed itself up against the side wall of the eve bottom with not much room to spare this time doing so by forming a bull flag right along the same price point as the breakout target from the falling wedge we broke out of yesterday. Odds are good within the next 2 candles we will break upward and the projected upward target of this flag will...
There was no more room left to go sideways as the price action got pinned up against the Eve trendline(in pink) and since the falling wedge(bull pattern) broke out first before the bearflag(bear pattern) had a chance to breakdownward it caused both to break bullishly upward....the upward projected breakout target for the wedge is $9238 while the upward projected...
Price action is currently being squeezed between the 4hr buy/sell line(50ma) and the 4hr tline(8 EMA) and should shoot one way or the other soon enough. I expect a break upward even though it's currently forming a bear flag(which usually breaks down). A break below the bearflag could take us as far down as $7938 but if we go up then we could hit the neckline of...
Of all patterns, the Adam and Eve reversal in a bearish trend is fairly significant. It indicates a period of consolidation with building faith in the market after the speculative money has permanently left the market - your grandma is not buying Bitcoin here for a reason.
In my opinion, this is a fairly likely play - a rejection off the Daily kijun for a...
The dip continues as the price action seems to be forming a bear flag as I had hypothesized 2 ideas ago. I have readjusted the eve trendline to rest at the bottom wick of the most recent low and see that after readjusting the trendline that it is still projected to reach the neckline around May 1st. One thing I need to mention about the pink eve trendline is that...
Hello traders! Here we have a daily BTCUSD chart where we might have a possible Adam & Eve Double Bottom Formation.
Potential target for the Adam & Eve formation calculation goes as follows:
$11,780 + ((11,780 - 5,920) x 0.66) = $15,647.60
TARGET (in Red): $15,647.60
Break above $11,780 serves as a Pattern confirmation (in Pink).
*** Potential 32% gains...
I need to post this to keep people from going short on my last projected price drop. While I was correct that we would fall until we hit the support of the pink eve trendline and then rebound up from there, I foolishly thought that we hadn't already broken out of the rising wedge, even though my original trendline of the rising wedge(which was drawn by the...
As I posted on my previous idea, we knew that the resistance of the rising wedge's top trendline was too strong for us not to eventually break down from the wedge, and just now in the last 4 hr candle we have confirmed that breakdown. I said in the last idea that ideally the 26th would be the most opportune time for the rising wedge to fall to and bounce up off...
P rice action is still stuck inside the 4hr charts rising wedge(in blue) and judging by how strong its top trendline's resistance is, plud the crazy coincidence of where the rising wedges trajectory crosses paths with the eve bottom trendline(in pink)'s trajectory, we have very high probability of being stuck inside this wedge all the way up the double bottom...
BTC shows the same pattern from October 2017, also the stoch RSI signals a strong support which will very likely break the major downtrend at around $8500 and end the bear market!
If it touches the A&E neckline we have a confirmation and can expect BTC back in the $15000 range.
But I expect that it will fall down to $8000 first in the next couple of hours which...
Just like many other alts, NEO formed an Adam & Eve as well. Seeing this reversal formation in almost all the alts means that Bull Season is on.
NEO Target: 0.0111 BTC.
Not an investment advice. Please DYOR.
