Bitcoin and some alts are in an ascending triangle pattern. If this happened during a macro uptrend one would place an 80-90% chance on this scenario playing out. Since the markets are in extreme fear and Bitcoin could easily dump again, I would put it at closer to 60%. You never know, but these do more often than not break to the upside and if it does, the target...
It seems like Solana is also on a 3-day weekend with not much price action clues taking place. I still prefer a longer drawn wave IV that could last all summer. Heading down to new lows now is too easy, not to mention the pattern looks better with more stark alternation. Therefore I'm expecting a high wave IV that takes time (But if you follow me you already...
SOLUSD is now challenging EMA21 after closing above EMA10 as we see a rise in buyers.
The impulse move started 13-June and peaked at 66% of growth.
A 28% correctoin followed that ended below the 0.618 Fib. retracement level of the bullish wave that started in mid-June.
As soon as this level was hit, we see buyers coming in.
If the low just hit is the 2 wave of...
Two days ago, I posted how the market is tipping over to the bullish side. Today is a continuation of that post. If you want to look at my previous post, please take a look here.
The volume weights for today to recreate this exact chart are the following (enter it in symbol...
I've come home early today because Covid-19 is running rampant through our office. I pour myself a Bourbon and sit at my computer in my home office to begin typing my Evening Update on Solana like so many previous nights. As I'm reading the comments on my profile thread and ideas from other contributors shared on this platform I stumbled on what appears to be...
I have discussed for a little while now that I think we're going higher over the course of summer to give a wave IV more time to complete in relation to it's wave III counterpart. I am still of that opinion. Aside from the time factor simply not looking right, I don't have a bearish structure pointing us much lower than $26 right now. Therefore it's hard to...
After retracing 90% of its BULL Cycle, SOLANA seems looking to end an ABC move if it's not has already ended.
A spot BUY opportunity becomes therefore quite interesting.
A minimum retest of 118 dollars could be expected for its next BULL cycle. Depending on the fundamentals, the price could even reach as high as 196 dollars.
Since the bounce from last week with the release news of Solana Mobile Phone (Saga), we see a strong upward momentum of Solana price.
From the chart, the price of SOL would be highly poosible:
1. Reach to $330+ at the end of 2022 (Oct aftward);
2. Reach to $400+ near the end of 2023.
*Not Financial Advice.
SOLUSD has formed interesting bear price action
0.618 is a possible support point for a reversal, it has been seen as a support level in history
I am suggesting a similar bottom to that seen at 0.236 (white box), and then the bulls take over again
On the above 2-day chart price action has rallied 23000% in the last 18 months since the buy signal. Yes 1 Bitcoin becomes 90 Bitcoin. Amazing. A number of reasons now exist to be short, including:
1) The ‘incredible sell’ signal around $200. I recall seeing it but never published before now.
2) Broken market structure.
3) Everything said above is also true...
Eth bear market vs Sol bear market
Comparing the 2, we can see multiple similarities with some differences. Difference being Sol had an extra wave up as suggested by the bearish RSI divergence and above the RSI MA.
We can POTENTIALLY deduce that the extra bounce was due to the fact that few saw bitcoin topping out where it did fooling of us an incoming leg up....