Watching BTC, 6800 level is the big one for now, though this number is popping up using so many tools it may just be blown away
At 6800 bears and bulls will have the big rumble, failure by bulls expect BTC to lows indicated on chart with horizontal blue lines
Breakthrough may trigger the short squeeze with momentum into high 7k range, potential bullish market to...
Important levels are outlined in the chart
-50 day moving average
-100 day moving average
-200 day moving average
-downtrend line from all time high
If these resistance are broken I would expect another bull run, possibly extending to a new high, I will make a new chart based on reaction at resistances
I still think drop to as low as 5k can result in a bullish...
I like this lil trash coin, modular sidechains, longing it to the 0.382/50ma (green ma), resistance at base of kumo ~29, think the future is bright, had nice GitHub activity previously, one to watch, but hold nothing
Bearish scenario on upper portion of chart, bullish scenario on lower portion
This is a logarithmic chart for BLX, Brave New Coin Liquid Index which can be read about here: bravenewcoin.com
Bearish scenario: BTC continues drive towards long term orange trendline, finally bottoming out around $3,000 before slow steady increase...
Possible wave count for current trend,
Fib extension from the low 5.8 as basis
Wave 3 ending at 11.5k (the 1 of fib extension from low at 5.8) and the area of major downtrend from ATH, wave 4 back to .786 of extension around 10.3k, then wave 5 to around 13k for major resistance, or extension possible to 1.618 at 15k
Keep in mind I'm still watching for major...
ETH been faking bulls with bounces off the 382, but it will retrace to earlier support before this correction has ended.
July September trendline is the target ~580
You can ignore the waves to not got caught in the chop and set limit ~580, that's my play, not worth watching ETH when BTC is in charge
BTC was rejected at top of June to October trendline (~9000), previously bounced off bottom of July to September trendline (this is our bottom ~5900)
Idea is BTC heads back towards July September trendline to refule for breakout towards downward trendline from ATH
Could try to scalp in between at 7200 and 7900
Ultimate target is 6100
See how this plays...
let's aim for the September to November trendline, watch for MACD, RSI buried but that could last a while, volume off low was nice
Giancarlo awakens animal spirits, Warner mentions cellphones 20 trillion (that's Senator talk for m00n), Kennedy read the whitepapers n00bs or get rekt, Elizabeth Warren can't stop...