Bitcoin is in a consolidation phase and will likely breakout soon. There is a ton of excitement about all the cryptocurrencies rising in price.
ETC is showing a bullish falling-wedge pattern which usually breaks out by now. MACD and RSI are showing a similar pattern in the same area. Stocktwits is getting excited.
My style of trade is to look for similar historical patterns, test to see if the pattern is truly similar and project moves using fibs, bollinger, stoch rsi and ichimoku. Here I just use fibs and ichimoku and determine levels based on historical pattern. You can see how the pattern has traded so far from my calls at stocktwits.com with 100% of calls posted...
Notice that beautiful W formation on the 15 Min chart and the breakout about the Cloud also the multiple bounces off the support line at $2.86 notice this was once a level of resistance.
Here I see a price action trade along the linear regression line with standard deviation set at 2 and -2. I also believe this may be an Elliot wave cycle. If i remember correctly, the third wave, should be about the same length as the first wave, so i have placed my limit at the 1.618 extension of the second wave, just to be safe (remember, still learning price...