in the shortterm I expect a break down from the current red symmetrical triangle weve been in on the 4hour chart so this idea will be short for now...however in the medium term I now see a big falling wedge in green on the 1 day chart thats apex stretches to April and believe we will ultimately break upward from this pattern. Interestingly enough the target...
Firstly, I'm in no position to teach anyone. The only reason i make this public is so hopefully more experienced traders can weigh in and hopefully help me if they would be so kind :). Anyways i won't really be able to describe it in a way that would really help most and i lack a lot of the verbage still, so on to what I'm seeing.
On the chart you can see the...
1) Falling wedge breakout
2) Possible double bottom
3) Both RSI and MACD bullish on the daily
4) Volume picking up, still lacking though.
5) Keep your eye on bitcoin as it influences the entire market.
There seems to be a recurring bullish falling wedge setup. I have marked my accumulation zone and will place scaled buy orders there. This will partly be for long term positions and for short term trades should the pattern breakout of the wedge. Pay attention to false breakouts and don't be fooled.
First target where I will sell a bit is at 0.55$ (0.6 fib...
we can see here on the weekly chart of the entire crypto marketcap that the market is very much so inside a falling wedge...one that seems to reach its apex in the middle of march....but as with most falling wedges a breakout from the wedge tends to happen very soon after 3/4ths of the wedge has completed so a breakout can be anticipated sometime within the next...
1) Falling Wedge.
2) Possible Inverse Head & Shoulders,
with right shoulder forming.
3) The cloud remains bearish on the
daily but has flipped on the 4 hour,
creating some bullish sentiment.
4) MACD looks sideways on the daily,
though seems bearish on the 4 hour
5) RSI continuing rising trend on the
daily. May drop down to rsi trend...
Looks like a falling wedge on the daily timeframe, and we are approaching strong support level. Keep an eye on this one. Fundamentally it's an under-hyped project which could really become a big deal. Virtual land ownership in the first virtual city will be a hot commodity one day i believe.
JPM broke out of a falling wedge today. restested. climbed further.
Fundamentally - Jamie Dimon has been very positive on the economy while everyone else has been screaming the sky is falling
JPM has beaten earning (at least) the last four cycles.
I expect they will repeat here. The stock is acting as if its ready to go up.
Since the Ethereum price is entirely dependent on Bitcoin and Bitcoin itself is expected to keep its bearish momentum for a while, we assume an extension of ETH's gigantic falling wedge.
On a final sellout and panic incident, we see the real capitulation between $15 and $25, which would set ETH slightly above its mean before the 2017 bull run.
But note: In that...
I still anticipate we will find a way to break even higher to continue our higher low/higher high series. we have a couple resistance lines to climb from here to achieve our next higher high. Wanted to post an update however to show you all that the target predicted in my last xrpbtc idea has been hit exactly.
My projected target for the falling wedge breakout has a fastly approaching breakout candle finally heading its way. Look through my previous ideas to see but I've been watching this falling wedge for quite awhile now..glad to see it's finally triggering. With this momentum there's a chance it will only continue up after reaching that target...although some...
Finally appear to be breaking upward from the falling wedge...after tracking many potential trendlines for t it appears the trendlines that went by the candlestick bodies were most valid which made it a smaller wedge with less breakout potential so now instead of a target of 4.1k we have a more conservative price target of $3845. It could continue to bounce once...
As long as the price holds above 3350 on Bitstamp I think we will see a relief rally to $3650.
There is a distinct possibility that we have put a bottom in for 2018 since the price came so close to the resistance and the $3000 psychological level. Many had predicted a bottom at $3200 as well.
As I mentioned in the related post on the weekly chart linked...