Despite BTC's price action breaking below the support zone, it still continues to Bullishly Diverge on the RSI as it forms Bullish Harmonics at the lows. As of right now we are at a shared confluence PCZ of a Bullish Gartley and a Bullish Butterfly which also about aligns with the 200 week SMA and we could be double bottoming here preparing for the big move up.
BTC.D or Bitcoin Dominance is one of the most important factors for investors to find out, if it is better to keep more Bitcoin in their bag or Altcoins. Don't forget, it's not all you need to make your decision but it's the important one!
To make a decision about BTC.D, I've checked multiple parameters on weekly time-frame chart, so we dive deep into them one by...
To be honest, i don't think so, at least not until the purple area is broken, the area is a very important one since the sellers from the last drop are very interested to sell their remaining assets at that level again
BUT as Elliot waves shows, there is clear ABC happened by the drop and a new 5 waves is about to take place, not too far from happening though but...
1) at important trend level
2) at top median line
3) at resistant level
4) clear rsi divergence
5) at important rsi trend level
what would happen next? let's see ;)
Bearish trend line is strongly intact on the price action and RSI on the daily chart. Until this is broken....we go down. It's blood in the streets, won't last forever. Stay safe out there.
This is how I hope LINKUSD plays out over the next 24 hrs. I would love to retest RSI support and middle pitchfork support before a nice pop pushing past $32. It has played out how I had hoped so far since I posted yesterdays chart. Continuation may occur depending on BTC behavior. COINBASE:LINKUSD
CIpla has double top and it need to break neckline for confirming pattern, Presently getting daily trendline as well as RSI trendline support. If it broke trendline and neckline then will get a good opportunity for short. For now it seems it wll reverse from here as trendline is supporting it.
*Retracement of 78.6 at trendline support shows a reversal .
Not in a leverage long position
However I am Always in a hodel position :)
Expecting Price action to rally or rise over the next 24 hours ...
time will tell ...
The Usual Disclaimer:
I am just having fun
This is not financial advice
I am not your financial adviser
I am publishing my chart for personal historic archival Purposes
Trading or speculation is...
