BTC forming a flag after that big drop. Usually this is a continuation so I assume it should break downward of the flag down to high 6000, potentially further to low 6k.
If it doesnt break downwards right away it might break upwards and hit the support of the triangle again. To 9k.
This seems like a very strong support I will be surprised if it falls any further beyond the 62% Fib range. Will be watching close I'm expecting upward momentum now.
BTC Weekly has found beautiful support right along the 50 MA which happens to be the "Golden Pocket" Fib range right along 62%. This seems like a beautiful sport to finish off the 2nd wave and start...
I'm expecting another break downwards out of this triangle because after a big impulse break like we had we can expect most any triangle to be a continuation and not reversal. I'm expecting 7k.
After that solid break we can expect it to fall further mostly because it needs to fill the gaps and hit further supports. And because it needs to complete the elliot...
Considering this is a triangle and most of the time triangles are continuation I can see why people think it's going to break up.
But after a big rally that we had to get us to 10k we need some relief. You can see that tension is building with the converging of the MA's and the increased pressure with Volume.
I believe it's going to breakout downwards. Because...
I'm expecting and will be buying in at the relief and retracements. Around Fib levels. And selling at resistance.
After that nice call of the pattern break it shot straight to the 200 MA on 4hr. Now we buy the Dippppppp. Which should be right around the 38 and MAYBE the golden pocket Fib
WATCH THE MOVING AVERAGES CLOSELY. DROPPED LAST TIME THIS HAPPENED!
XRP in a nice channel for easy small profits in the meantime. I wanted to address the 50 MA that is about to pass the 200 ma. Last time this happened you could see tension building with volume and the closing of the pattern. This time around it will do the same thing and not quite cross one...
This Symmentrical Triangle from the last couple posts turned into a descending. Giving me more assurance it's going to break downward. But I'm still holding onto BTC and am not gonna make a trade till confirmation. If it breaks out I'm thinking 8k
Not going to trade until theres confirmation of a breakout over the trend lines. In the short term it could hit the resistance line again for quick profit. If it breaks upward we can easily expect it to hit 13k again really quick
Big triangle been forming for weeks. Multiple posts on same pattern. Volume decreasing getting ready for an impulse move. Based on simple indicators like RSI, Fib and a few MA's I assume it's going to break downwards!! To the golden pocket. 7600-8k
In my last few charts I assume BTC is going to break downward out of the very large triangle it has been forming. But based on this small (purple) ascending triangle, and RSI, I believe it's going to hit the top resistance line of the larger triangle one more time.
At that point of it being at resistance we will watch very closely because it has a chance of...
Pretty big move incoming once this pressure is relieved and it breaks out of the triangle either up or down. I'm feeling quite bearish. But am curious whether or not it's going to break down before it hits the top resistance line of the triangle one more time.
Anything could happen with this breakout, but something is bound to breakout. I'm ready to react to anything
Based on my last post of bitcoin retracing to exactly the golden pocket range, and then settling on .5 fib. I am assuming and going to bet on it retracing again to the golden pocket. About 7500-8000 range. Before we have a other impulse move upward. Not to mention how strong macd and RSI heading towards bearish.
BTC has hit a hard resistance at the .62 Fib level, of the previous all time high in December. And settled right on the .5 level. Based on this resistance and the looks of the basic MA's, RSI and Macd. On a long term scale, it should very likely be correcting and giving us a bearish market for a bit
ETHEREUM Looking quite bullish long term..
Because the "ASCENDING TRIANGLE" (Linked Post) followed Elliott, and stuck to the resistance and support lines so well, I assume it will continue up with the Elliot waves (I believe it will break up quite strong), once it finishes forming this ASCENDING TRIANGLE!!
It has been following fibonacci S/R points quite well,...