BTC is in a descending triangle - Call it the triangle of doom or triangle of boom. If it breaks lower than 5800$ BTC will crash literally owing to the bearish pressure and if it moves out of the triangle, consider investing more for extra gains.
We've seen BTC respect the log scale for quite a while last year, and why not - it is after all exponential growth of public interest that is driving it. Using the same principle I am extrapolating my projected BTC dip at around 8 to 8.5k after which it should respect the overall growth log scale and continue upwards as the orange band shows.
My advice is my...
XRP seems to have found bottom on the confluence of the old descending trendline and the uptrend blue line. I expect price to bounce off Blue line for higher movement in the upcoming months, sentiment is good for October.
There is a Head and shoulders pattern forming on LTC with the neckline at the green level that I plotted in the charts along with the right shoulder being smaller than the left indicating the downside is going to be huge. I suggest traders keep this in mind linking it with the Bitcoin price movements, if the correction reversal in BTC doesn't happen by October 2nd...
I see the scope for a Bullish Shark pattern forming at around 3000 where support is also known to be good. Potential reversal zone has been marked on the chart. Place your longs there if you see a strong volume bounce.
I see a bullish Bat Harmonic forming on NEO. After the current indecision in the market to move up or down, this comes at a time when support is good at sub15$ levels. If the move completes and bounces off the 14$ level one can place longs. The previous two triangle moves were busted in both directions due to indecision in the market.
NEO Elliot correction ABC seems to be ending and we can see new highs after a bounce from the old upward trendline.
Buy on high volume breakouts, targets at 28$ and 36$ for wedges.
Can sell a certain % off at targets and long remaining.
After a strong bounce from old support with Bullish divergence, we see LTC on its way to complete the final wave 5 of C of the ABC correction. I expect to see a reversal at either 35$ or 44$ zone depending on volume and candle stick patterns to bounce at these levels.
Broadening wedge target can be set at 82$.
Confirm all breaks with Volume
Correction wave ABC saw a bounce off the Pivot support with a Bullish Divergence on RSI, MFI and Stochastic RSI. A new broadening wedge pattern has developed that gives us a very good idea of bounce off points. We can see the old bullish trendline on the daily has caught up at 190 (Blue) where I place a potential end of Wave C but also noting that Elliot wave 3...
Confluence of Wedges orange and yellows set up a strong buying move which broke the smaller wedge off clean.
But by elliot wave movements we still have some downside to cover and the final touch off must happen at the wedge bottom. The current spike started the 4th elliot wave in the ABC correction (Since 2nd wave was flat the 4th was a strong upside...
4H Stoch RSI, Klinger oscillator and the CCI are showing Bullish divergence. We can expect price to bounce off the 3450 levels into 3800-3900 if the volume is strong - wait for confirmation from green candles.
Symmetric triangle can be seen forming on the LTC- BTC pair which means price can break either way but LTC is also showing a bearish Descending Triangle on the LTC-USD charts.
If so then targets are to be placed at the lower support upon break.
Shorts below 59 long above 73 (incase it breaks upward).
Price can move either up or down depending on the breakout direction. Ripple is having strong fundamentals at the moment(SBI testing) so I expect buying to increase but the charts are not giving anything away at the moment.
ETH has a Descending triangle pattern which is the same as BTC but there is a catch, ETH-BTC pair is also having a Descending triangle pattern. Now things can go one of two ways - either ETH breaks upward and BTC down or ETH down and BTC breaks upward.
Now I notice that while the momentum for BTC was oscillating from the bottom, ETH momentum lows have been on a...
Momentum has been waning along with Money flow which has been bearish. We can expect a downtrend soon but Descending triangles are known to be tricky so its best to play both sides of the game if you don't want to miss out - Shorts below 3950 and long above 4350.
If Price breaks down then descending triangle target at 3150-3200 level. If that happens we can see...
I already hinted on my 1H charts for ETH that the price would move up but is this also a reversal call? Possible chart patterns for this would be Double bottom which would mean price would move considerably higher. I'd say if price moves above 315 we could use this divergence as a crutch but I remain skeptic since it's not a lower low on the price. We could also...