It seems the AO indicator shows that each consolidation period is about 7 days. If prices stay above $0.02, this pattern may very well play out. Most important thing for price right now is to stay above the middle bollinger band.
The tip of triangle meets RIGHT on the time of mainnet launch. If prices surge upwards, the breakout target is 340 region. I am bullish on Elrond, and may be biased, but I believe the price will actually go upwards after this nice consolidation we had had.
If prices drop, targets are at 216, 200, 178.
Disclaimer: I hodl ERD, and am not going to be trading this move.
Are we there yet? Is the 5th wave done? Looking at the waves, it seems clear that there is a clean elliot wave forming, with the price currently being in the 5th wave. I cannot deny the fact that there will be a retrace sometime soon, but the current question is how much farther up the current wave will go.
Post mainnet launch will be interesting to watch...
This is just a prediction of how I see the price of ERD moving along these parallel lines. It seems 300 sats might be a difficult target to reach before mainnet launch. However, given the fundamentals, upcoming announcements may give momentum to the price movement, possibly reaching 340 sats region.
This is just one idea I have. Those lines are based on fib extensions of recent swing high and projected swing low. Let's see how this might play out...! Disclaimer: I have been hodling from around 50 sats and am currently not planning to sell for a while. DYOR.
This is an update to my previous analysis.
The pattern is playing out perfectly... but patterns can't last forever.
Possible entry point is at $120, right below the ichimoku cloud. If it shows signs of going up again, it is possible that LTC will reach $150, then $170-$180. More or less a 40% gain.
Best way to trade this might be to wait for the stochastic RSI...
The areas circled in yellow are similar patterns we can see. Historically, the price attempted to go higher, but failed. The stochastic RSI area that is circled shows the topping. Then, the stoch RSI dropped, tested the Ichimoku cloud support and then the price went to gain higher highs.
A similar pattern is starting to emerge right now. Chart shows possible...
This is a continuation of my previous BTC personal forecast in which btc decided to follow the path where it gets rejected by the downward channel. In this time's forecast, I have outlined many possible scenarios. I am certain at this point that we will test that big red resistance. I don't think we will break the resistance easily. It is more probable in my...
The bart simpson pattern is made of an initial green candle followed by consolidation that takes the form of sideways action, rising/dropping price consolidation. Here, on the 1hr time frame we can see how this pattern comes to be, on the Elder's Force Index.
The first green candle is met with great price action and volume, hence the spike. However, that price...
On the 4hr time chart, we see a clear bullish divergence forming on the On Balance Volume and RSI. Monacoin is currently on its last support zone and if this falls, we may see a drop that could go from 50% to 70%, or even more. Looking at the daily RSI, that doesn't look so likely.
First target would be around 4$
This is just a forecast I hope you can reflect on later in the month. Please do not take into trading consideration. This is just a means for me to solidify my ideas.
This is what I think bitcoin is going to follow in the coming days. First we'll see a volatile consolidation as bitcoin tests support levels, which is the orange circle. Then we'll try to break out...
I believe we'll drop out of the small descending wedge and make one final drop before having a strong reversal and going above the ichimoku cloud where there daily resistance is very weak.
I'm not a professional trader or anything, so please just look at this as entertainment, nothing more.