If we repeat what happened the last two times and nothing changes fundamentally like ETFs being approved, looks like we are going down from here. The altcoins almost didnt move up on this BTC rally so they are even more vernable to BTC downmoves. ETH 250 bucks, LTC 50 bucks and so on...
Boys, I hate to say it but we are looking at new lows the next coule of weeks. I just sold all to cash and placed the orders 50% lower.
We need a week or two more of green candles on the weekly chart in order to give steam/ time to the adx to turn around. If the ADX starts pointing up while the price is above the 21 EMA on the weekly, we are looking at a real bull run that can take us to the highs and above.
Does that really look like a compleated five wave market? I think not. This is the monthly chart of BTC and you can clearly see that the first wave completed and the second wave is coming to an end. The third wave is coming and it is going to make the first wave look like nothing. Remember that this is a highly speculative bubble in the 21st sentury, where there...
Get ready for fireworks. It can bounce as fast as it fell. This could spark the fomo buyers.
Unwinding as we speak. The price needs to overcome the 21 EMA, 50 MA in order to start building some upward momentum. If the price pops to like 9k and retests 8400 from above the MAs is probably the best technical setup for the bulls.
The weekly sets up for a reversal. At first 3 4 weeks of green candles, after which we will need to reavaluate if there is enough steam for upword momentum. For now it looks like the sellers are exausted.
We got over the 21 EMA on the daily which is a great sign. Atleast we know that we broke the dowtrend momentum. Next big resistance is arount 8k.
Could this be the catalist that set's the bottom for Crypto?
Next segnificant resistance alligns with the top of the resistance line of the triangle and the weekly pivots, which are around 103 dollars. If 103 gets broket we are free to go off.
The montly pivot targets indicate that tere is potential for 9200 BTC this month. One of the more bullish scenarios. This can happen if 7700 diesnt hold as resistance.
200 MA and the previous support acting as resistance 4h chart. If we break these the probability of a tako off is higher.
80% off the highs. I dont think it will go as low as 2014. It was brand new then. We might as well be at the bottom. If it goes lower just buy more.
We might be at the red arrows compared to 2014. One more low possible. 4- 5k?
Hopefully we can have a continuation from the initial pump.
Multy year downtrend down to 0.9 based on fib targets?
I dont think you realize how fast LTC can move. 10- 15 dollars a day on a regular day. We can be above 100 in like 2 days. Also it is very interesting when the chart looks the worst and im feeling depressed it always reverces. Its like its scripted :D